v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Fixed maturities, available-for-sale, at fair value (amortized cost of $206,096 and $214,505, respectively) $ 206,232 $ 214,045
Total investments 206,232 214,045
Cash and cash equivalents 236,416 173,220
Restricted cash 4,306 6,052
Premiums receivable, net 56,493 51,594
Accrued investment income 1,936 2,174
Prepaid reinsurance premiums 178,399 268,254
Reinsurance recoverable, net 439,704 462,097
Property and equipment, net 1,755 1,843
Right-of-use assets – operating leases 2,019 2,498
Other assets 7,488 16,368
Total assets 1,134,748 1,198,145
Liabilities:    
Unpaid losses and loss adjustment expenses 431,620 475,708
Income tax payable 18,290 11,873
Unearned premiums 423,875 421,881
Reinsurance payable 1,277 56,348
Advance premiums 20,512 6,561
Deferred income tax liability, net 33 1,122
Long-term debt 926 1,029
Lease liabilities – operating leases 2,110 2,612
Deferred policy acquisition costs, net unearned ceding commissions 26,836 31,931
Other liabilities and accrued expenses 23,211 26,688
Total liabilities 948,690 1,035,753
Commitments and contingencies (Note 18)
Temporary members' equity:    
Class B units (27,900 authorized, issued and outstanding at March 31, 2025 and December 31, 2024, no par value) 0 0
Members' equity:    
Retained earnings 175,653 152,432
Accumulated other comprehensive loss, net of taxes 118 (327)
Total members' equity 186,058 162,392
Total liabilities and members' equity 1,134,748 1,198,145
Class A units [Member]    
Members' equity:    
Members' equity 10,287 10,287
Class C units [Member]    
Members' equity:    
Members' equity $ 0 $ 0