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Reinsurance and Insurance Loss Reserves (Tables)

3 Months Ended

Jul. 02, 2022

The effects of reinsurance on premiums written and earned were as follows (in thousands):










	Three Months Ended
	July 2, 2022				July 3, 2021
	Written		Earned		Written		Earned
Direct premiums	$	7,728	$	7,050	$	6,839	$	5,996
Assumed premiums—nonaffiliated	9,028		7,957		8,574		7,378
Ceded premiums—nonaffiliated	(4,229)		(4,229)		(3,647)		(3,647)
	$	12,527	$	10,778	$	11,766	$	9,727

Loss Reserve Rollforward

Standard Casualty establishes reserves for claims and claims expense on reported and incurred but not reported ("IBNR") claims of non-reinsured losses. Reserves for claims are included in the Accrued expenses and other current liabilities line item on the Consolidated Balance Sheets and claims expenses are recorded in Cost of sales on the Consolidated Statements of Comprehensive Income. The following details the activity in the reserve for the three months ended July 2, 2022 and July 3, 2021 (in thousands):


	Three Months Ended
		July 2, 2022		July 3, 2021
Balance at beginning of period		$	8,149	$	7,451
Net incurred losses during the year		8,777		7,975
Net claim payments during the year		(8,352)		(7,078)
Balance at end of period		$	8,574	$	8,348