v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Investments    
Investment in related party investment fund, at fair value $ 515,244 $ 504,555
Fixed maturity investments, at fair value 150,902 65,609
Other investments 66,441 62,911
Total investments 732,587 633,075
Cash and cash equivalents 75,088 111,756
Restricted cash and cash equivalents 535,151 531,976
Reinsurance balances receivable 672,463 664,381
Reinsurance recoverable on unpaid loss and loss adjustment expenses 86,237 81,392
Deferred acquisition costs 100,691 99,954
Unearned premiums ceded 58,528 39,223
Other assets 8,527 8,026
Total assets 2,269,272 2,169,783
Liabilities    
Loss and loss adjustment expense reserves 966,339 967,960
Unearned premium reserves 414,315 361,704
Reinsurance balances payable 109,404 95,853
Funds withheld 22,359 16,105
Other liabilities 10,944 15,460
Debt 4,739 4,724
Total liabilities 1,528,100 1,461,806
Commitments and Contingencies (Note 16)
Shareholders' equity    
Preferred share capital (par value $0.10; none issued) 0 0
Ordinary share capital (par value $0.10; issued and outstanding, xxx) (2025: par value $0.10; issued and outstanding, xxx) 3,368 3,390
Additional paid-in capital 476,377 478,910
Retained earnings 261,427 225,677
Total shareholders' equity 741,172 707,977
Total liabilities and equity $ 2,269,272 $ 2,169,783