v3.26.1
FIXED MATURITY INVESTMENTS (Tables)
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Fair Value of Fixed Maturity Investments Trading and Equity Investments
The following table summarizes the fair value of fixed maturity investments:

March 31, 2026December 31, 2025
Fixed maturity securities:
U.S. government and agencies$26,252 $17,979 
Agency residential mortgage-backed securities ("RMBS")25,197 18,258 
Corporate bonds38,664 9,769 
Asset-back securities ("ABS")6,085 5,565 
Non-agency RMBS— 600 
Municipal bonds— 857 
  Total fixed maturity securities96,198 53,028 
Liquidity funds
54,704 12,581 
Total fixed maturity investments, at fair value$150,902 $65,609 
Schedule of Net Realized and Unrealized Gains (Losses) on Investments
The following table summarizes the net realized and unrealized gains (losses) for the fixed maturity investments:

Three months ended March 31
Three months ended March 3120262025
Net realized gains (losses)7 — 
Change in net unrealized gains (losses)(628)— 
Net realized and unrealized gains (losses) for fixed maturity investments$(621)$— 
The following table summarizes the change in unrealized gains (losses) and the realized gains (losses) for the Company’s other investments, which are included in “Net investment income” in the condensed consolidated statements of operations (see Note 14):
Three months ended March 31
20262025
Gross realized gains$— $5 
Gross realized losses(1,087)— 
Net realized gains (losses)$(1,087)$5 
Change in unrealized gains1,474 106 
Net realized and unrealized gains (losses) on other investments$387 $111