v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Investment securities:    
Debt securities, at fair value (amortized cost of $96,669 and $117,827, respectively) $ 88,305 $ 105,665
Equity securities, at fair value (cost of $1,276 and $1,836, respectively) 1,277 1,603
Short-term investments, at fair value 24,725 21,151
Total investments 114,307 128,419
Cash and cash equivalents 27,362 27,654
Premiums and agents' balances receivable, net 5,521 9,901
Reinsurance recoverables on unpaid losses 63,909 84,490
Reinsurance recoverables on paid losses 5,929 6,919
Prepaid reinsurance premiums 12,024 6,088
Deferred policy acquisition costs 2,696 6,380
Receivable from contingent considerations at fair value 4,290 8,070
Other assets 3,245 3,735
Total assets 239,283 281,656
Liabilities:    
Unpaid losses and loss adjustment expenses 146,262 189,285
Unearned premiums 25,703 30,590
Reinsurance premiums payable 2,501 1
Debt 12,187 11,932
Mandatorily redeemable preferred stock carrying value 14,380  
Funds held under reinsurance agreements 24,233 25,829
Accounts payable and other liabilities 5,051 2,494
Total liabilities 230,317 260,131
Commitments and contingencies
Shareholders' equity:    
Common stock, no par value (100,000,000 shares authorized; 12,222,881 issued and outstanding, respectively) 100,158 98,178
Accumulated deficit (81,591) (63,153)
Accumulated other comprehensive income (loss) (9,601) (13,500)
Total shareholders' equity 8,966 21,525
Total liabilities and shareholders' equity $ 239,283 $ 281,656