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REINSURANCE (Tables)
9 Months Ended
Sep. 30, 2023
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]  
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 endedNine 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 
Assumed1,396,043 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 
Assumed1,862,387 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 recovered67,707 (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 
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 endedNine months ended
September 30, 2023September 30, 2022September 30, 2023September 30, 2022
Beginning balance$3,151 $4,350 $4,606 $2,776 
Provision for (release of) allowance81 419 (1,374)1,993 
Ending balance$3,232 $4,769 $3,232 $4,769 
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 endedNine months ended
September 30, 2023September 30, 2022September 30, 2023September 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