Annual report pursuant to Section 13 and 15(d)

Receivables and Other Current Assets

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Receivables and Other Current Assets
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Receivables and Other Current Assets RECEIVABLES AND OTHER CURRENT ASSETS
Receivables
The Company had receivables of $389.8 million and $294.2 million outstanding as of December 31, 2024 and 2023,
respectively, which were recognized within Commissions and fees receivable – net on the Consolidated Balance Sheets.
Commission and fees receivable is net of an allowance for credit losses. The Company’s allowance for credit losses is
based on a combination of factors, including evaluation of historical write-offs, current economic conditions, aging of
balances, and other qualitative and quantitative analyses.
The following table provides a summary of changes in the Company’s allowance for expected credit losses:
Year Ended December 31,
2024
2023
Balance at beginning of period
$2,458
$1,980
Write-offs
(3,106)
(1,722)
Increase in provision
3,666
2,200
Balance at end of period
$3,018
$2,458
Other Current Assets
Major classes of other current assets consisted of the following:
As of December 31,
2024
2023
Prepaid expenses
$51,701
$25,762
Insurance recoverable
20,155
20,562
Interest rate cap
13,936
—
Other current receivables
24,159
15,905
Total Other current assets
$109,951
$62,229
Other current receivables contain service receivables from Geneva Re, Ltd. See Note 17, Related Parties, for further
information regarding related parties. See Note 16, Commitments and Contingencies, for further information on the
insurance recoverable. See Note 13, Derivatives, for further information on the interest rate cap.