| Schedule of Information by Reportable Segment |
The following tables present information by reportable segment (dollars in thousands):
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Year Ended December 31, 2025 |
Commercial
Lines |
|
|
Personal
Lines |
|
|
Corporate |
|
|
Total |
|
Gross written premiums |
$ |
8,712 |
|
|
$ |
51,128 |
|
|
$ |
— |
|
|
$ |
59,840 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net written premiums |
$ |
(1,629 |
) |
|
$ |
22,977 |
|
|
$ |
— |
|
|
$ |
21,348 |
|
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|
|
|
|
|
|
|
|
|
|
|
Net earned premiums |
$ |
2,553 |
|
|
$ |
29,834 |
|
|
$ |
— |
|
|
$ |
32,387 |
|
Other income |
|
— |
|
|
|
— |
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|
|
142 |
|
|
|
142 |
|
Segment revenue |
|
2,553 |
|
|
|
29,834 |
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|
142 |
|
|
|
32,529 |
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|
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|
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Loss and loss adjustment expenses, net |
|
15,952 |
|
|
|
22,589 |
|
|
|
— |
|
|
|
38,541 |
|
Policy acquisition costs |
|
(79 |
) |
|
|
8,484 |
|
|
|
— |
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|
|
8,405 |
|
Operating expenses |
|
1,395 |
|
|
|
6,344 |
|
|
|
3,731 |
|
|
|
11,470 |
|
Segment expenses |
|
17,268 |
|
|
|
37,417 |
|
|
|
3,731 |
|
|
|
58,416 |
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|
|
|
|
|
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Segment underwriting gain (loss) |
|
(14,715 |
) |
|
|
(7,583 |
) |
|
|
(3,589 |
) |
|
|
(25,887 |
) |
Net investment income |
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|
|
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|
|
|
5,037 |
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|
|
5,037 |
|
Net realized investment gains (losses) |
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|
|
|
|
|
|
(716 |
) |
|
|
(716 |
) |
Change in fair value of equity securities |
|
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|
|
234 |
|
|
|
234 |
|
Change in fair value of contingent considerations |
|
|
|
|
|
|
|
6,220 |
|
|
|
6,220 |
|
Interest expense |
|
|
|
|
|
|
|
3,185 |
|
|
|
3,185 |
|
Income (loss) before income taxes |
$ |
(14,715 |
) |
|
$ |
(7,583 |
) |
|
$ |
4,001 |
|
|
$ |
(18,297 |
) |
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Selected Balance Sheet Data: |
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Deferred policy acquisition costs |
$ |
— |
|
|
$ |
2,696 |
|
|
|
|
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$ |
2,696 |
|
Unearned premiums |
|
2,472 |
|
|
|
23,231 |
|
|
|
|
|
|
25,703 |
|
Reinsurance recoverables on unpaid losses |
|
60,620 |
|
|
|
3,289 |
|
|
|
|
|
|
63,909 |
|
Unpaid losses and loss adjustment expenses |
|
135,551 |
|
|
|
10,711 |
|
|
|
|
|
|
146,262 |
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|
Year Ended December 31, 2024 |
|
Commercial
Lines |
|
|
Personal
Lines |
|
|
Corporate |
|
|
Total |
|
Gross written premiums |
|
$ |
26,686 |
|
|
$ |
45,367 |
|
|
$ |
— |
|
|
$ |
72,053 |
|
|
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|
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|
|
|
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Net written premiums |
|
$ |
14,541 |
|
|
$ |
34,797 |
|
|
$ |
— |
|
|
$ |
49,338 |
|
|
|
|
|
|
|
|
|
|
|
|
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Net earned premiums |
|
$ |
28,160 |
|
|
$ |
32,702 |
|
|
$ |
— |
|
|
$ |
60,862 |
|
Other income |
|
|
69 |
|
|
|
48 |
|
|
|
211 |
|
|
|
328 |
|
Segment revenue |
|
|
28,229 |
|
|
|
32,750 |
|
|
|
211 |
|
|
|
61,190 |
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Loss and loss adjustment expenses, net |
|
|
52,155 |
|
|
|
21,147 |
|
|
|
— |
|
|
|
73,302 |
|
Policy acquisition costs |
|
|
4,323 |
|
|
|
9,012 |
|
|
|
— |
|
|
|
13,335 |
|
Operating expenses |
|
|
4,080 |
|
|
|
4,444 |
|
|
|
3,307 |
|
|
|
11,831 |
|
Segment expenses |
|
|
60,558 |
|
|
|
34,603 |
|
|
|
3,307 |
|
|
|
98,468 |
|
|
|
|
|
|
|
|
|
|
|
|
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Segment underwriting gain (loss) |
|
|
(32,329 |
) |
|
|
(1,853 |
) |
|
|
(3,096 |
) |
|
|
(37,278 |
) |
Net investment income |
|
|
|
|
|
|
|
|
5,763 |
|
|
|
5,763 |
|
Net realized investment gains (losses) |
|
|
|
|
|
|
|
|
(125 |
) |
|
|
(125 |
) |
Change in fair value of equity securities |
|
|
|
|
|
|
|
|
(203 |
) |
|
|
(203 |
) |
Other gains (losses) |
|
|
|
|
|
|
|
|
500 |
|
|
|
500 |
|
Change in fair value of contingent considerations |
|
|
|
|
|
|
|
|
146 |
|
|
|
146 |
|
Interest expense |
|
|
|
|
|
|
|
|
4,883 |
|
|
|
4,883 |
|
Income (loss) before income taxes |
|
$ |
(32,329 |
) |
|
$ |
(1,853 |
) |
|
$ |
(1,898 |
) |
|
$ |
(36,080 |
) |
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Selected Balance Sheet Data: |
|
|
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Deferred policy acquisition costs |
|
$ |
934 |
|
|
$ |
5,446 |
|
|
|
|
|
$ |
6,380 |
|
Unearned premiums |
|
|
7,644 |
|
|
|
22,946 |
|
|
|
|
|
|
30,590 |
|
Reinsurance recoverables on unpaid losses |
|
|
82,029 |
|
|
|
2,461 |
|
|
|
|
|
|
84,490 |
|
Unpaid losses and loss adjustment expenses |
|
|
182,154 |
|
|
|
7,131 |
|
|
|
|
|
|
189,285 |
|
|