v3.26.1
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues    
Gross written premiums $ 216,741,000 $ 174,848,000
Ceded written premiums (76,399,000) (58,079,000)
Net written premiums 140,342,000 116,769,000
Change in net unearned premiums (3,534,000) (6,953,000)
Net earned premiums 136,808,000 109,816,000
Net investment income 18,027,000 12,559,000
Net realized investment losses (20,900) (4,100)
Other insurance-related income 880,000 345,000
Total revenues 155,694,000 122,716,000
Expenses    
Net losses and loss adjustment expenses 91,481,000 73,427,000
Net acquisition costs 13,893,000 9,796,000
Operating expenses 25,804,000 23,937,000
Non-operating expenses 0 110,000
Warrant expense 775,000 775,000
Interest expense and financing fees 3,162,000 247,000
Foreign exchange losses (gains) 8,000 (46,000)
Total expenses 135,123,000 108,246,000
Income before income taxes 20,571,000 14,470,000
Income tax expense (4,561,000) (3,045,000)
Net income 16,010,000 11,425,000
Other comprehensive income    
Change in unrealized gain (loss) on investments (net of income tax (expense) benefit of $2,252, $(1,972), $2,252, $(2,679), respectively (8,472,000) 7,418,000
Total comprehensive income $ 7,538,000 $ 18,843,000
Earnings per share:    
Basic (in dollars per share) $ 0.49 $ 0.35
Diluted (in dollars per share) $ 0.48 $ 0.34
Weighted average shares outstanding:    
Basic (in shares) 32,807,104 32,662,683
Diluted (in shares) 33,283,727 33,711,924