The reinsurance department accounts for 34% of the company’s total written premiums, with reported total written premiums up 43.7% to $70 million, up from $48.7 million in the same period last year. Net premiums increased from $16.8 million to $24.9 million. Underwriting revenue rose to $10.4 million, compared with $6.8 million in the first quarter of 2024. The result is driven by higher net premium levels, with partially increased net loss and adjustment loss expenses, including disaster losses.
