Reinsurance and Insurance Loss Reserves (Tables)

9 Months Ended

Dec. 31, 2022

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


	Three Months Ended
	December 31, 2022				January 1, 2022
	Written		Earned		Written		Earned
Direct premiums	$	7,454	$	7,529	$	6,380	$	6,557
Assumed premiums—nonaffiliated	7,709		8,358		7,023		7,822
Ceded premiums—nonaffiliated	(4,413)		(4,413)		(3,866)		(3,866)
	$	10,750	$	11,474	$	9,537	$	10,513

	Nine Months Ended
	December 31, 2022				January 1, 2022
	Written		Earned		Written		Earned
Direct premiums	$	22,350	$	21,917	$	19,529	$	18,876
Assumed premiums—nonaffiliated	25,555		24,526		23,837		22,830
Ceded premiums—nonaffiliated	(13,056)		(13,056)		(11,227)		(11,227)
	$	34,849	$	33,387	$	32,139	$	30,479

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 and nine months ended December 31, 2022 and January 1, 2022 (in thousands):


	Three Months Ended				Nine Months Ended
	December 31, 2022		January 1, 2022		December 31, 2022		January 1, 2022
Balance at beginning of period	$	7,790	$	7,350	$	8,149	$	7,451
Net incurred losses during the period	8,464		5,046		25,050		20,303
Net claim payments during the period	(7,163)		(4,916)		(24,108)		(20,274)
Balance at end of period	$	9,091	$	7,480	$	9,091	$	7,480