| Premiums and Reinsurance Related Information |
Premiums and Reinsurance Related Information The following is a summary of insurance and reinsurance financial information: | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months
Ended June 30, | | For the Six Months
Ended June 30, | | | | (In thousands) | 2026 | | 2025 | | 2026 | | 2025 | | Written premiums: | | | | | | | | | Direct | $ | 3,811,809 | | | $ | 3,610,784 | | | $ | 7,282,995 | | | $ | 6,921,677 | | | Assumed | 332,191 | | | 366,985 | | | 646,771 | | | 740,031 | | | Ceded | (713,766) | | | (626,330) | | | (1,325,186) | | | (1,176,966) | | | Total net premiums written | $ | 3,430,234 | | | $ | 3,351,439 | | | $ | 6,604,580 | | | $ | 6,484,742 | | | | | | | | | | | Earned premiums: | | | | | | | | | Direct | $ | 3,496,543 | | | $ | 3,335,252 | | | $ | 6,920,685 | | | $ | 6,569,095 | | | Assumed | 329,359 | | | 336,521 | | | 644,293 | | | 676,118 | | | Ceded | (638,513) | | | (573,588) | | | (1,262,417) | | | (1,134,647) | | | Total net premiums earned | $ | 3,187,389 | | | $ | 3,098,185 | | | $ | 6,302,561 | | | $ | 6,110,566 | | | | | | | | | | | Ceded losses and loss expenses incurred | $ | 526,426 | | | $ | 354,923 | | | $ | 884,166 | | | $ | 669,175 | | | Ceded commissions earned | $ | 156,093 | | | $ | 135,919 | | | $ | 309,041 | | | $ | 275,523 | |
The following table presents the rollforward of the allowance for expected credit losses for premiums and fees receivable for the six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | (In thousands) | 2026 | | 2025 | | Allowance for expected credit losses, beginning of period | $ | 42,006 | | | $ | 39,884 | | | | | | | Change in expected credit losses | (585) | | | (924) | | | Allowance for expected credit losses, end of period | $ | 41,421 | | | $ | 38,960 | |
The following table presents the rollforward of the allowance for expected credit losses for premiums and fees receivable for the three months ended June 30, 2026 and 2025: | | | | | | | | | | | | | (In thousands) | 2026 | | 2025 | | Allowance for expected credit losses, beginning of period | $ | 42,130 | | | $ | 38,861 | | | | | | | Change in expected credit losses | (709) | | | 99 | | | Allowance for expected credit losses, end of period | $ | 41,421 | | | $ | 38,960 | |
The Company reinsures a portion of its insurance exposures in order to reduce its net liability on individual risks and catastrophe losses. The Company also cedes premiums to state assigned risk plans and captive insurance companies. Estimated amounts due from reinsurers are reported net of an allowance for expected credit losses. The following table presents the rollforward of the allowance for expected credit losses associated with due from reinsurers for the six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | (In thousands) | 2026 | | 2025 | | | | Allowance for expected credit losses, beginning of period | $ | 6,378 | | | $ | 8,350 | | | | | | | | | | | Change in expected credit losses | 430 | | | (1,396) | | | | | Allowance for expected credit losses, end of period | $ | 6,808 | | | $ | 6,954 | | | |
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