Quarterly report [Sections 13 or 15(d)]

Receivables and Other Current Assets

v3.25.1
Receivables and Other Current Assets
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Receivables and Other Current Assets Receivables and Other Current Assets
Receivables
The Company had receivables of $432.5 million and $389.8 million outstanding as of March 31, 2025 and December 31,
2024, 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:
Three Months Ended March 31,
2025
2024
Beginning of period
$3,018
$2,458
Write-offs
(1,135)
(787)
Increase in provision
1,511
390
End of period
$3,394
$2,061
Other Current Assets
Major classes of other current assets consisted of the following:
March 31, 2025
December 31, 2024
Prepaid expenses
$39,082
$51,701
Insurance recoverable
1,475
20,155
Interest rate cap
9,879
13,936
Other current receivables
24,707
24,159
Total Other current assets
$75,143
$109,951
Other current receivables contain service receivables from Geneva Re, Ltd. See Note 14, Related Parties, for further
information regarding related parties. See Note 13, Commitments and Contingencies, for further information on the
insurance recoverable. See Note 10, Derivatives, for further information on the interest rate cap.