Reinsurance and Insurance Loss Reserves (Tables)

6 Months Ended

Sep. 30, 2023

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


	Three Months Ended
	September 30, 2023				October 1, 2022
	Written		Earned		Written		Earned
Direct premiums	$	10,067	$	9,371	$	7,168	$	7,338
Assumed premiums—nonaffiliated	9,505		8,851		8,818		8,211
Ceded premiums—nonaffiliated	(6,438)		(6,438)		(4,414)		(4,414)
	$	13,134	$	11,784	$	11,572	$	11,135

	Six Months Ended
	September 30, 2023				October 1, 2022
	Written		Earned		Written		Earned
Direct premiums	$	20,446	$	18,047	$	14,896	$	14,388
Assumed premiums—nonaffiliated	19,305		17,421		17,846		16,168
Ceded premiums—nonaffiliated	(12,565)		(12,565)		(8,643)		(8,643)
	$	27,186	$	22,903	$	24,099	$	21,913

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 six months ended September 30, 2023 and October 1, 2022 (in thousands):


	Three Months Ended				Six Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Balance at beginning of period	$	13,001	$	8,574	$	10,939	$	8,149
Net incurred losses during the period	8,586		7,809		19,663		16,586
Net claim payments during the period	(12,433)		(8,593)		(21,448)		(16,945)
Balance at end of period	$	9,154	$	7,790	$	9,154	$	7,790