Liability for Unpaid Losses and Loss Adjustment Expense (Tables)

12 Months Ended

Dec. 31, 2025

Insurance [Abstract]

Schedule of Incurred and Paid Claims and Claims Adjustment Expense

$ In thousands (except number of reported claims)


		Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31,																																								As of December 31, 2025
																																										Total of IBNR Liabilities Plus
																																						Audited				Expected Development				Cumulative Number of
Accident Year		2016				2017				2018				2019				2020				2021				2022				2023				2024				2025				on Reported Claims				Reported Claims
2016		$	68,980			$	66,742			$	74,195			$	78,078			$	79,372			$	80,322			$	89,869			$	73,526			$	40,371			$	40,023			$	—				1,145
2017			—				61,644				65,178				68,513				69,886				72,982				74,771				69,001				78,782				79,948				6,995				4,246
2018			—				—				51,100				46,382				45,458				44,604				61,877				45,781				67,908				67,722				(755	)			3,680
2019			—				—				—				89,107				101,577				102,812				64,911				97,479				70,596				71,062				1,898				5,012
2020			—				—				—				—				71,816				50,622				45,611				64,055				88,589				91,574				(932	)			4,667
2021			—				—				—				—				—				71,731				65,061				58,459				31,737				32,615				1,580				1,804
2022			—				—				—				—				—				—				45,365				43,625				77,959				76,098				5,542				1,538
2023			—				—				—				—				—				—				—				20,038				20,813				17,858				2,727				379
2024			—				—				—				—				—				—				—				—				33,727				28,392				5,164				457
2025			—				—				—				—				—				—				—				—				—				17,610				10,723				247
																																		Total				$	522,902


		Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31,
																																						Audited
Accident Year		2016				2017				2018				2019				2020				2021				2022				2023				2024				2025
2016		$	25,567			$	32,651			$	35,548			$	37,844			$	38,700			$	39,940			$	54,497			$	40,017			$	40,021			$	40,022
2017			—				40,467				62,353				64,329				73,683				80,460				84,933				54,143				61,771				68,283
2018			—				—				27,852				54,551				61,885				66,848				82,443				67,193				68,496				68,433
2019			—				—				—				38,428				57,041				62,133				34,768				64,274				64,817				66,424
2020			—				—				—				—				33,532				56,201				79,570				84,525				87,433				91,085
2021			—				—				—				—				—				19,754				28,506				32,033				35,492				32,476
2022			—				—				—				—				—				—				16,645				51,748				64,360				69,371
2023			—				—				—				—				—				—				—				8,993				13,557				14,855
2024			—				—				—				—				—				—				—				—				8,893				21,843
2025			—				—				—				—				—				—				—				—				—				6,052
																																		Total				$	478,844
														All outstanding liabilities before 2016, net of reinsurance																									3
										Liabilities for claims and claim adjustment expenses, net of reinsurance																												$	44,061

Short-duration Insurance Contracts, Schedule of Historical Claims Duration

The following is supplementary information about average historical claims duration as of December 31, 2025.


Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years		1				2				3				4				5				6				7				8				9				10
			50.7	%			23.3	%			11.7	%			7.5	%			3.8	%			1.5	%			1.0	%			0.3	%			0.2	%			0.0	%

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability

The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expenses in the consolidated statement of financial position is as follows.


		December 31,
		2025				2024
Net outstanding liabilities
Commercial Property Insurance		$	44,061			$	65,645
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance			44,061				65,645

Reinsurance recoverable on unpaid claims
Commercial Property Insurance			116,772				249,276
Total reinsurance recoverable on unpaid claims			116,772				249,276

Unallocated claims adjustment expenses			4,868				7,166

Total gross liability for unpaid claims and claims adjustment expense		$	165,701			$	322,087

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense

The table below shows the analysis of our reserve for unpaid losses for each of our last three fiscal years on a GAAP basis:


	2025				2024				2023
Balance at January 1	$	322,087			$	347,738			$	816,489
Less: reinsurance recoverable on unpaid losses		249,276				271,736				731,666
Net balance at January 1		72,811				76,002				84,823

Incurred related to:
Current year		51,867				73,023				59,372
Prior years		(5,827	)			(3,704	)			(12,694	)
Total incurred		46,040				69,319				46,678
Paid related to:
Current year		38,173				44,913				41,392
Prior years		31,749				27,597				14,107
Total paid		69,922				72,510				55,499

Net balance at December 31		48,929				72,811				76,002
Plus: reinsurance recoverable on unpaid losses		116,772				249,276				271,736
Balance at December 31		165,701				322,087				347,738

Composition of reserve for unpaid losses and LAE:
Case reserves		29,522				55,265				109,219
IBNR reserves		136,179				266,822				238,519
Balance at December 31	$	165,701			$	322,087			$	347,738

Schedule Of Incurred And Paid Claims And Claims Adjustment Expense [Table Text Block]

$ In thousands (except number of reported claims)


		Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31,																																								As of December 31, 2025
																																										Total of IBNR Liabilities Plus
																																						Audited				Expected Development				Cumulative Number of
Accident Year		2016				2017				2018				2019				2020				2021				2022				2023				2024				2025				on Reported Claims				Reported Claims
2016		$	68,980			$	66,742			$	74,195			$	78,078			$	79,372			$	80,322			$	89,869			$	73,526			$	40,371			$	40,023			$	—				1,145
2017			—				61,644				65,178				68,513				69,886				72,982				74,771				69,001				78,782				79,948				6,995				4,246
2018			—				—				51,100				46,382				45,458				44,604				61,877				45,781				67,908				67,722				(755	)			3,680
2019			—				—				—				89,107				101,577				102,812				64,911				97,479				70,596				71,062				1,898				5,012
2020			—				—				—				—				71,816				50,622				45,611				64,055				88,589				91,574				(932	)			4,667
2021			—				—				—				—				—				71,731				65,061				58,459				31,737				32,615				1,580				1,804
2022			—				—				—				—				—				—				45,365				43,625				77,959				76,098				5,542				1,538
2023			—				—				—				—				—				—				—				20,038				20,813				17,858				2,727				379
2024			—				—				—				—				—				—				—				—				33,727				28,392				5,164				457
2025			—				—				—				—				—				—				—				—				—				17,610				10,723				247
																																		Total				$	522,902


		Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31,
																																						Audited
Accident Year		2016				2017				2018				2019				2020				2021				2022				2023				2024				2025
2016		$	25,567			$	32,651			$	35,548			$	37,844			$	38,700			$	39,940			$	54,497			$	40,017			$	40,021			$	40,022
2017			—				40,467				62,353				64,329				73,683				80,460				84,933				54,143				61,771				68,283
2018			—				—				27,852				54,551				61,885				66,848				82,443				67,193				68,496				68,433
2019			—				—				—				38,428				57,041				62,133				34,768				64,274				64,817				66,424
2020			—				—				—				—				33,532				56,201				79,570				84,525				87,433				91,085
2021			—				—				—				—				—				19,754				28,506				32,033				35,492				32,476
2022			—				—				—				—				—				—				16,645				51,748				64,360				69,371
2023			—				—				—				—				—				—				—				8,993				13,557				14,855
2024			—				—				—				—				—				—				—				—				8,893				21,843
2025			—				—				—				—				—				—				—				—				—				6,052
																																		Total				$	478,844
														All outstanding liabilities before 2016, net of reinsurance																									3
										Liabilities for claims and claim adjustment expenses, net of reinsurance																												$	44,061