v3.25.2
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Net earned premiums $ 1,056,722 $ 829,143 $ 615,994
Commission and fee income 6,703 6,064 5,199
Net investment income 80,686 40,322 36,931
Net investment gains (losses) 6,256 11,072 (15,705)
Other (loss) income (167) (632) 1
Total revenues 1,150,200 885,969 642,420
Expenses:      
Losses and loss adjustment expenses 669,809 515,237 402,512
Underwriting, acquisition and insurance expenses 311,757 243,444 182,171
Interest expense 9,496 10,024 6,407
Amortization expense 2,007 1,798 1,547
Other expenses 4,392 5,364 0
Total expenses 997,461 775,867 592,637
Income before income taxes 152,739 110,102 49,783
Income tax expense 33,911 24,118 10,387
Net income 118,828 85,984 39,396
Net income attributable to participating securities 0 1,677 18,879
Net income attributable to common stockholders 118,828 84,307 20,517
Comprehensive income      
Net income 118,828 85,984 39,396
Unrealized gains and losses on investments:      
Net change in unrealized gains (losses) on investments, net of tax 9,792 25,516 (48,545)
Reclassification adjustment for (losses) gains on securities no longer held, net of tax (8,959) (4,984) 420
Total other comprehensive income (loss) 833 20,532 (48,125)
Comprehensive income (loss) $ 119,661 $ 106,516 $ (8,729)
Per share data:      
Basic earnings per share (in dollar per share) $ 2.97 $ 2.34 $ 1.24
Diluted earnings per share (in dollar per share) $ 2.87 $ 2.24 $ 1.21
Weighted-average common shares outstanding      
Basic (in shares) 40,056,475 36,031,907 16,568,393
Diluted (in shares) 41,377,460 38,317,534 32,653,194