v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Investments:    
Fixed maturities available-for-sale, at fair value (amortized cost: $316.9 and $294.3 at June 30, 2025 and December 31, 2024, respectively) $ 319.2 $ 292.0
Short-term investments (amortized cost: $3.5 and $14.8 at June 30, 2025 and December 31, 2024, respectively) 3.5 14.8
Other investments 4.4 4.4
Total investments 327.1 311.2
Cash and cash equivalents 641.4 599.3
Restricted cash 1.1 1.0
Premiums receivable, net of allowance of $8.2 and $9.8 at June 30, 2025 and December 31, 2024, respectively 341.3 305.3
Reinsurance recoverable and receivable, net of allowance of $0.1 at June 30, 2025 and December 31, 2024 145.5 150.6
Prepaid reinsurance premiums 14.9 25.1
Other assets 116.4 103.2
Total assets 1,587.7 1,495.7
Liabilities:    
Loss and loss adjustment expense reserves 444.5 413.2
Unearned premiums 395.2 353.9
Long-term debt 200.1 200.1
Reinsurance premiums payable 15.8 32.8
Accounts payable and accrued expenses 52.3 71.1
Other liabilities 123.3 108.9
Total liabilities 1,231.2 1,180.0
Commitments and Contingencies
Redeemable convertible preferred stock, $0.0001 par value, 100.0 shares authorized, 14.1 shares issued and outstanding at June 30, 2025 and December 31, 2024 (redemption value of $126.5) 112.0 112.0
Stockholders’ equity:    
Additional paid-in capital 1,883.7 1,887.9
Accumulated other comprehensive income (loss) 2.3 (2.3)
Accumulated loss (1,641.5) (1,681.9)
Total stockholders’ equity 244.5 203.7
Total liabilities, redeemable convertible preferred stock and stockholders’ equity 1,587.7 1,495.7
Class A Shares    
Stockholders’ equity:    
Common stock, value 0.0 0.0
Class B Shares    
Stockholders’ equity:    
Common stock, value $ 0.0 $ 0.0