v3.25.1
Segment Information - Summary of Segment Information Reconciled to Consolidated Statements of Income (Detail) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue:    
Gross premiums earned $ 300,383 [1] $ 256,644 [2]
Premiums ceded (99,635) (68,106)
Net premiums earned 200,748 188,538
Net income from investment portfolio 13,012 16,702
Gain on sale 370 0
Policy fee income 2,229 1,019
Other 444 355
Total revenue 216,433 206,614
Expenses:    
Losses and loss adjustment expenses 59,291 79,922
Amortization of deferred policy acquisition costs 26,311 20,931
Other policy acquisition expenses 976 1,208
Stock-based compensation expense 2,972 1,582
Interest expense 3,384 3,149
Depreciation and amortization 1,646 1,490
Personnel and other operating expenses 21,514 20,902
Total expenses 116,094 129,184
Income before income taxes 100,339 [3] 77,430 [4]
Gross premiums written 289,246 254,986
Insurance Operations [Member]    
Revenue:    
Gross premiums earned 1,199 453
Operating Segments [Member] | Insurance Operations [Member]    
Revenue:    
Gross premiums earned 282,135 [1] 253,472 [2]
Premiums ceded (93,427) (66,341)
Net premiums earned 188,708 187,131
Net income from investment portfolio 10,859 12,758
Policy fee income 2,229 1,019
Other 2,746 3,092
Total revenue 204,542 204,000
Expenses:    
Losses and loss adjustment expenses 70,815 84,024
Amortization of deferred policy acquisition costs 25,244 20,931
Other policy acquisition expenses 18,333 15,415
Stock-based compensation expense 473 369
Interest expense 0 0
Depreciation and amortization 611 612
Personnel and other operating expenses 11,244 13,433
Total expenses 126,720 134,784
Income before income taxes 77,822 [3] 69,216 [4]
Total revenue from non-affiliates 201,050 [5] 200,803 [6]
Gross premiums written 259,529 235,499
Operating Segments [Member] | Exzeo Group [Member]    
Revenue:    
Gross premiums earned 0 [1] 0 [2]
Premiums ceded 0 0
Net premiums earned 0 0
Net income from investment portfolio 398 13
Policy fee income 0 0
Other 52,407 32,929
Total revenue 52,805 32,942
Expenses:    
Losses and loss adjustment expenses 0 0
Amortization of deferred policy acquisition costs 0 0
Other policy acquisition expenses 12,667 11,158
Stock-based compensation expense 723  
Interest expense 0 1,500
Depreciation and amortization 708 614
Personnel and other operating expenses 14,512 11,869
Total expenses 28,610 25,842
Income before income taxes 24,195 [3] 7,100 [4]
Total revenue from non-affiliates 398 [5] 13 [6]
Gross premiums written 0 0
Operating Segments [Member] | Insurance Operations [Member]    
Revenue:    
Gross premiums earned 19,447 [1] 3,625 [2]
Premiums ceded (7,407) (2,218)
Net premiums earned 12,040 1,407
Net income from investment portfolio 780 56
Policy fee income 0 0
Other (9) 0
Total revenue 12,811 1,463
Expenses:    
Losses and loss adjustment expenses 2,772 1,268
Amortization of deferred policy acquisition costs 1,067 0
Other policy acquisition expenses 2,521 546
Stock-based compensation expense 0 0
Interest expense 1,108 812
Depreciation and amortization 0 0
Personnel and other operating expenses 255 54
Total expenses 7,723 2,680
Income before income taxes 5,088 [3] (1,217) [4]
Total revenue from non-affiliates 14,010 [5] 1,916 [6]
Gross premiums written 29,717 19,487
Operating Segments [Member] | Real Estate [Member]    
Revenue:    
Gross premiums earned 0 [1],[7] 0 [2],[8]
Premiums ceded 0 [7] 0 [8]
Net premiums earned 0 [7] 0 [8]
Net income from investment portfolio 0 [7] 0 [8]
Policy fee income 0 [7] 0 [8]
Other 2,840 [7] 3,447 [8]
Total revenue 2,840 [7] 3,447 [8]
Expenses:    
Losses and loss adjustment expenses 0 [7] 0 [8]
Amortization of deferred policy acquisition costs 0 [7] 0 [8]
Other policy acquisition expenses 0 [7] 0 [8]
Stock-based compensation expense 0 [7] 0 [8]
Interest expense 216 [7] 223 [8]
Depreciation and amortization 510 [7] 380 [8]
Personnel and other operating expenses 1,733 [7] 1,434 [8]
Total expenses 2,459 [7] 2,037 [8]
Income before income taxes 381 [3],[7] 1,410 [4],[8]
Total revenue from non-affiliates 1,975 [5],[7] 2,606 [6],[8]
Operating Segments [Member] | Corporate and Other [Member]    
Revenue:    
Gross premiums earned 0 [1],[9] 0 [2],[10]
Premiums ceded 0 [9] 0 [10]
Net premiums earned 0 [9] 0 [10]
Net income from investment portfolio 1,765 [9] 4,694 [10]
Policy fee income 0 [9] 0 [10]
Other 3,655 [9] 1,030 [10]
Total revenue 5,420 [9] 5,724 [10]
Expenses:    
Losses and loss adjustment expenses 0 [9] 0 [10]
Amortization of deferred policy acquisition costs 0 [9] 0 [10]
Other policy acquisition expenses 2,128 [9] 0 [10]
Stock-based compensation expense 1,776 [9] 512 [10]
Interest expense 3,168 [9] 2,926 [10]
Depreciation and amortization 191 [9] 160 [10]
Personnel and other operating expenses 4,155 [9] 3,733 [10]
Total expenses 11,418 [9] 7,331 [10]
Income before income taxes (5,998) [3],[9] (1,607) [4],[10]
Total revenue from non-affiliates 838 [5],[9] 2,784 [6],[10]
Intersegment Eliminations [Member]    
Revenue:    
Gross premiums earned (1,199) [1] (453) [2]
Premiums ceded 1,199 (453)
Net premiums earned 0 0
Net income from investment portfolio (790) (819)
Policy fee income 0 0
Other (61,195) (40,143)
Total revenue (61,985) (40,962)
Expenses:    
Losses and loss adjustment expenses (14,296) (5,370)
Amortization of deferred policy acquisition costs 0 0
Other policy acquisition expenses (34,673) (25,911)
Stock-based compensation expense   0
Interest expense (1,108) (2,312)
Depreciation and amortization (374) (276)
Personnel and other operating expenses (10,385) (9,621)
Total expenses (60,836) (43,490)
Income before income taxes $ (1,149) [3] $ 2,528 [4]
[1] Gross premiums earned under insurance operations includes $1,199 earned from reciprocal exchange operations.
[2] Gross premiums earned under insurance operations include $453 earned from the reciprocal exchange operations.
[3] The income (loss) before income taxes in the reclassification/elimination column is attributable to intercompany transactions among operating segments. The insurance operations and the reciprocal exchange operations record service fee expenses based on earned premiums or other appropriate measures, while Exzeo Group and the AIF operations recognize service fee revenues according to revenue recognition standards. Although both service fee expenses and revenues are fully eliminated on consolidation, they do not completely offset each other in this presentation due to the different methods of recognition.
[4] The income (loss) before income taxes in the reclassification/elimination column is attributable to intercompany transactions among operating segments. The insurance operations and the reciprocal exchange operations record service fee expenses based on earned premiums or other appropriate measures, while Exzeo Group and the AIF operations recognize service fee revenues according to revenue recognition standards. Although both service fee expenses and revenues are fully eliminated on consolidation, they do not completely offset each other in this presentation due to the different methods of recognition.
[5] Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation.
[6] Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation.
[7] Other revenue under real estate primarily consisted of rental income from investment properties.
[8] Other revenue under real estate primarily consisted of rental income from investment properties.
[9] Other revenue under corporate and other primarily consisted of revenue from marina operations and management fees for attorney-in-fact services.
[10] Other revenue under corporate and other primarily consisted of revenue from marina operations and management fees for attorney-in-fact services.