v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2026
[1]
Mar. 31, 2025
Revenues    
Net premiums earned (Note 8) $ 402,528 $ 234,044
Net investment income (Note 7) 69,698 [2] 61,010
Net gains (losses) on financial instruments and foreign exchange (includes net realized gains (losses) on investments of $(3,248) and $(1,440)) (Note 7) (8,879) (2,001)
Other income 2,990 1,782
Total revenues 466,337 294,835
Expenses    
Provision for losses (Note 11) 107,933 15,340
Amortization of deferred policy acquisition costs and VOBA 62,069 6,388
Other operating expenses 98,169 57,908
Interest expense (Note 12) 20,594 16,489
Amortization of other acquired intangible assets 3,909 0
Total expenses 292,674 96,125
Pretax income from continuing operations 173,663 198,710
Income tax provision 44,197 46,620
Net income from continuing operations 129,466 152,090
Income (loss) from discontinued operations, net of tax (5,373) (7,532)
Net income $ 124,093 $ 144,558
Net income per share    
Net income from continuing operations, Basic $ 0.94 [3] $ 1.04
Income (loss) from discontinued operations, net of tax, Basic (0.04) [3] (0.05)
Basic net income per share 0.90 [3] 0.99
Net income from continuing operations, Diluted 0.93 [3] 1.03
Income (loss) from discontinued operations, net of tax, Diluted (0.04) [3] (0.05)
Diluted net income per share $ 0.89 [3] $ 0.98
Weighted average number of common shares outstanding—basic (in shares) 137,004 [3] 145,618
Weighted average number of common and common equivalent shares outstanding—diluted (in shares) 138,485 [3] 147,727
[1] Includes Inigo results for the two-month period from the Closing Date of the acquisition through March 31, 2026.
[2] Includes Inigo results from the Closing Date of the acquisition through March 31, 2026.
[3] Includes Inigo results from the Closing Date of the acquisition through March 31, 2026.