v3.26.1
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues    
Gross written premiums $ 236,373 $ 294,361
Ceded written premiums (116,275) (166,405)
Net written premiums 120,098 127,956
Change in net unearned premiums 15,614 23,946
Net earned premiums 135,712 151,902
Net investment income 21,327 20,008
Net realized and unrealized losses on investments (6,632) (1,371)
Other income 977 1,750
Total revenues 151,384 172,289
Expenses    
Losses and loss adjustment expenses 108,160 99,525
Other operating expenses 48,051 50,560
Other expenses 128 563
Interest expense 5,589 5,541
Amortization of intangible assets 91 91
Total expenses 162,019 156,280
(Loss) income from continuing operations before income taxes (10,635) 16,009
Income tax (benefit) expense on continuing operations (1,861) 5,021
Net (loss) income from continuing operations (8,774) 10,988
Discontinued operations (Note 2):    
Loss from discontinued operations 0 0
Loss on disposal of discontinued operations, net of tax (149) (1,414)
Total loss from discontinued operations (149) (1,414)
Net (loss) income (8,923) 9,574
Dividends on Series A preferred shares (1,969) (1,969)
Net (loss) income available to common shareholders (10,892) 7,605
Other comprehensive (loss) income:    
Net unrealized (losses) gains, net of taxes of $(2,433) in 2026 and $3,807 in 2025 (9,154) 14,322
Total comprehensive (loss) income $ (18,077) $ 23,896
Basic    
Continuing operations (in dollars per share) $ (0.23) $ 0.20
Discontinued operations (in dollars per share) 0 (0.03)
Basic (in dollars per share) (0.23) 0.17
Diluted    
Continuing operations (in dollars per share) (0.23) 0.18
Discontinued operations (in dollars per share) 0 (0.02)
Diluted (in dollars per share) (0.23) 0.16
Dividend declared per common share (in dollars per share) $ 0.01 $ 0.01
Weighted-average common shares outstanding:    
Basic (in shares) 46,099,930 45,803,501
Diluted (in shares) 46,099,930 59,659,075