v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Investments:    
Fixed maturity securities, available-for-sale, at fair value (amortized cost of $1,320,266 and $1,047,713, respectively) $ 1,292,218 $ 1,017,651
Fixed maturity securities, held-to-maturity, at amortized cost (net of allowance for credit losses of $243 and $329, respectively) 39,153 42,986
Equity securities, at fair value 106,254 118,249
Mortgage loans, at fair value 26,490 50,070
Equity method investments 98,594 110,653
Other long-term investments 33,182 3,852
Short-term investments, at fair value 274,929 270,226
Total investments 1,870,820 1,613,687
Cash and cash equivalents 121,603 65,891
Restricted cash 35,922 34,445
Premiums receivable, net 321,641 179,235
Reinsurance recoverables, net 857,876 596,334
Ceded unearned premium 203,901 186,121
Deferred policy acquisition costs 113,183 91,955
Deferred income taxes 30,486 21,991
Goodwill and intangible assets, net 87,348 88,435
Other assets 86,698 75,341
Total assets 3,729,478 2,953,435
Liabilities:    
Reserves for losses and loss adjustment expenses 1,782,383 1,314,501
Unearned premiums 637,185 552,532
Deferred ceding commission 40,434 37,057
Reinsurance and premium payables 177,070 150,156
Funds held for others 102,665 58,588
Accounts payable and accrued liabilities 76,206 50,880
Notes payable 100,000 50,000
Subordinated debt, net of debt issuance costs 19,536 78,690
Total liabilities 2,935,479 2,292,404
Stockholders’ equity    
Common stock, $0.01 par value, 500,000,000 shares authorized, 40,127,908 and 39,863,756 shares issued and outstanding, respectively 401 399
Additional paid-in capital 718,598 710,855
Stock notes receivable 0 (5,562)
Accumulated other comprehensive loss (22,120) (22,953)
Retained earnings (accumulated deficit) 97,120 (21,708)
Total stockholders’ equity 793,999 661,031
Total liabilities and stockholders’ equity $ 3,729,478 $ 2,953,435