v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 4,246 $ (3,989)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:    
Amortization and depreciation 1,588 1,443
Restricted stock and stock option expense 1,003 3,494
Deferred income taxes (1,045) (1,326)
Amortization of bond premium and discount, net (844) 10,555
Net realized investment losses (gains) 2,243 (136)
Loss from equity method investments, net of distributions 1,962 239
Changes in:    
Premium receivables, net (4,442) 7,244
Reinsurance receivables, net (1,821) (2,687)
Funds held by ceding insurers 188 5,025
Unpaid losses and loss adjustment expenses (3,048) (5,543)
Unearned premiums (5,198) 2,665
Reinsurance balances payable 1,238 (5,395)
Other assets and liabilities (12,784) (5,303)
Contingent commissions (4,331) (3,440)
Income tax receivable / payable 2,813 220
Deferred acquisition costs 957 (553)
Prepaid reinsurance premiums (589) (116)
Net cash provided by (used for) operating activities (17,864) 2,397
Cash flows from investing activities:    
Proceeds from sale of fixed maturities 73,231 39,984
Proceeds from sale of equity securities 3,550 0
Proceeds from maturity of fixed maturities 623,075 705,938
Proceeds from maturity of preferred stock 1,450 0
Proceeds from other invested assets 4,952 5,259
Purchases of fixed maturities (713,973) (684,341)
Net cash provided by (used for) investing activities (7,715) 66,840
Cash flows from financing activities:    
Distributions paid to common shareholders (5,023) (4,990)
Distributions paid to preferred shareholders (110) (110)
Net cash used for financing activities (5,133) (5,100)
Net change in cash and cash equivalents (30,712) 64,137
Cash and cash equivalents at beginning of period 65,542 17,009
Cash and cash equivalents at end of period 34,830 81,146
Supplemental disclosure of cash flow information:    
Income tax refunds received 501 0
Interest paid $ 0 $ 0