v3.26.1
Variable Interest Entity (Tables)
3 Months Ended
Mar. 31, 2026
Variable Interest Entity, Measure of Activity [Abstract]  
Summary of Unaudited Financial Information and Unaudited Financial Position

The following table summarizes the assets and liabilities related to the Company’s variable interests in consolidated VIEs which are included in the accompanying consolidated balance sheets:

 

 

 

March 31,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

170,126

 

 

$

154,156

 

Restricted cash

 

 

643

 

 

 

636

 

Income taxes receivable

 

 

1,521

 

 

 

1,332

 

Deferred income tax assets, net

 

 

1,344

 

 

 

2,237

 

Premiums receivable, net (allowance: $1,035 and $1,406, respectively)

 

 

5,701

 

 

 

4,549

 

Prepaid reinsurance premium

 

 

1,808

 

 

 

2,499

 

Reinsurance recoverable, net of allowance for credit losses:

 

 

 

 

 

 

  Paid losses and loss adjustment expenses (allowance: $0 and $0,
    respectively)

 

 

325

 

 

 

26

 

  Unpaid losses and loss adjustment expenses (allowance: $1 and $1,
    respectively)

 

 

1,275

 

 

 

1,573

 

Deferred policy acquisition costs

 

 

5,343

 

 

 

4,464

 

Other assets

 

 

446

 

 

 

539

 

   Total assets

 

$

188,532

 

 

$

172,011

 

Liabilities

 

 

 

 

 

 

Losses and loss adjustment expenses

 

$

27,875

 

 

$

24,810

 

Unearned premiums

 

 

63,956

 

 

 

73,086

 

Advance premiums

 

 

4,187

 

 

 

1,817

 

Ceded reinsurance premiums payable

 

 

742

 

 

 

933

 

Assumed premiums payable

 

 

1,436

 

 

 

837

 

Income taxes payable

 

 

5,209

 

 

 

2,857

 

Deferred income tax liabilities, net

 

 

 

 

 

127

 

Accrued expenses and other liabilities

 

 

3,048

 

 

 

2,162

 

   Total liabilities

 

$

106,453

 

 

$

106,629