v3.25.2
Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
REVENUES:    
Gross written premiums $ 394,259 $ 387,197
Ceded written premiums (116,001) (93,782)
Net written premiums 278,258 293,415
Net change in unearned premiums (50,462) (57,026)
Net premiums earned 227,796 236,389
Investment income 27,546 24,934
Net realized gain on investments 1,534 98
Net unrealized gain on investments 3,277 3,942
Change in allowance for expected credit losses on investments 253 (138)
Other revenues 1,500 541
Total revenues 261,906 265,766
EXPENSES:    
Net loss and loss adjustment expenses (123,796) (99,238)
Net policy acquisition expenses (41,025) (39,836)
General and administrative expenses (45,790) (44,594)
Change in allowance for expected credit losses on receivables (1,784) (1,621)
Change in fair value of derivative financial liabilities 0 (2,343)
Other expenses (3,350) (3,228)
Net foreign exchange gain (loss) 17,263 (3,887)
Total expenses (198,482) (194,747)
Income before income taxes 63,424 71,019
Income tax expense (1,978) (358)
Net income $ 61,446 $ 70,661
Earnings per share    
Basic earnings per share attributable to equity holders (in USD per share) $ 1.37 $ 1.56
Diluted earnings per share attributable to equity holders (in USD per share) $ 1.36 $ 1.55