Schedule of Effect of Reinsurance and Retrocessional Activity on Premiums Written and Earned and on Net Claims and Claim Expenses Incurred |
The following table sets forth the effect of reinsurance and retrocessional activity on premiums written and earned and on net claims and claim expenses incurred: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | | | September 30, 2023 | | September 30, 2022 | | September 30, 2023 | | September 30, 2022 | | | Premiums Written | | | | | | | | | | Direct | $ | 222,400 | | | $ | 295,213 | | | $ | 673,791 | | | $ | 935,079 | | | | Assumed | 1,396,043 | | | 1,925,448 | | | 6,386,534 | | | 6,693,185 | | | | Ceded | (197,183) | | | (398,950) | | | (1,179,559) | | | (1,777,720) | | | | Net premiums written | $ | 1,421,260 | | | $ | 1,821,711 | | | $ | 5,880,766 | | | $ | 5,850,544 | | | | Premiums Earned | | | | | | | | | | Direct | $ | 248,932 | | | $ | 280,389 | | | $ | 784,388 | | | $ | 801,759 | | | | Assumed | 1,862,387 | | | 2,006,596 | | | 5,609,355 | | | 5,307,078 | | | | Ceded | (355,443) | | | (519,964) | | | (1,172,055) | | | (1,399,008) | | | | Net premiums earned | $ | 1,755,876 | | | $ | 1,767,021 | | | $ | 5,221,688 | | | $ | 4,709,829 | | | | Claims and Claim Expenses | | | | | | | | | | Gross claims and claim expenses incurred | $ | 793,869 | | | $ | 3,096,540 | | | $ | 2,843,229 | | | $ | 4,913,313 | | | | Claims and claim expenses recovered | 67,707 | | | (1,128,609) | | | (249,242) | | | (1,397,410) | | | | Net claims and claim expenses incurred | $ | 861,576 | | | $ | 1,967,931 | | | $ | 2,593,987 | | | $ | 3,515,903 | | | | | | | | | | | | |
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Schedule of Provision for Current Expected Credit Losses of Premiums Receivable |
The following table provides a roll forward of the provision for current expected credit losses of the Company’s premiums receivable: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | | | September 30, 2023 | | September 30, 2022 | | September 30, 2023 | | September 30, 2022 | | | Beginning balance | $ | 3,151 | | | $ | 4,350 | | | $ | 4,606 | | | $ | 2,776 | | | | Provision for (release of) allowance | 81 | | | 419 | | | (1,374) | | | 1,993 | | | | | | | | | | | | | | | | | | | | | | | | Ending balance | $ | 3,232 | | | $ | 4,769 | | | $ | 3,232 | | | $ | 4,769 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Schedule of Provision for Current Expected Credit Losses of Reinsurance Recoverable |
The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | | | September 30, 2023 | | September 30, 2022 | | September 30, 2023 | | September 30, 2022 | | | Beginning balance | $ | 11,456 | | | $ | 9,005 | | | $ | 12,169 | | | $ | 8,344 | | | | Provision for (release of) allowance | (1,160) | | | 3,082 | | | (1,873) | | | 3,743 | | | | | | | | | | | | | | | | | | | | | | | | Ending balance | $ | 10,296 | | | $ | 12,087 | | | $ | 10,296 | | | $ | 12,087 | | | | | | | | | | | | |
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