v3.26.1
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues    
Net premiums earned $ 223,505 $ 236,275
Net investment income 39,972 36,951
Equity in earnings (loss) of unconsolidated subsidiaries 2,938 4,015
Net investment gains (losses):    
Impairment gains (losses) 7 (155)
Portion of impairment losses recognized in other comprehensive income (loss) before taxes 0 (102)
Net impairment gains (losses) recognized in earnings 7 (257)
Other net investment gains (losses) (3,432) (1,436)
Total net investment gains (losses) (3,425) (1,693)
Other income (expense) (356) (3,469)
Total revenues 262,634 272,079
Expenses    
Net losses and loss adjustment expenses 174,194 189,960
Underwriting, policy acquisition and operating expenses:    
Operating expense 40,937 50,810
DPAC amortization 31,592 32,381
SPC U.S. federal income tax expense (benefit) 549 348
SPC dividend expense (income) 1,079 (248)
Interest expense 5,090 5,160
Total expenses 253,441 278,411
Income (loss) before income taxes 9,193 (6,332)
Provision for income taxes:    
Current expense (benefit) (100) (520)
Deferred expense (benefit) 832 10
Total income tax expense (benefit) 732 (510)
Net income (loss) 8,461 (5,822)
Other comprehensive income (loss), after tax, net of reclassification adjustments (17,936) 37,533
Comprehensive income (loss) $ (9,475) $ 31,711
Earnings (loss) per share:    
Basic (in usd per share) $ 0.16 $ (0.11)
Diluted (in usd per share) $ 0.16 $ (0.11)
Weighted average number of common shares outstanding:    
Basic (in shares) 51,491 51,188
Diluted (in shares) 51,811 51,445