v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Investments:    
Fixed maturity securities at fair value (amortized cost $2,054.5 at June 30, 2026 and $2,031.8 at December 31, 2025, less CECL allowance of $1.1 at June 30, 2026 and $0.4 at December 31, 2025) $ 2,037.9 $ 2,040.7
Equity securities at fair value (cost $87.1 at June 30, 2026 and $96.5 at December 31, 2025) 171.5 184.0
Equity securities at cost 8.7 7.5
Other invested assets (cost $77.4 at June 30, 2026 and $79.4 at December 31, 2025) 96.1 96.5
Short-term investments at fair value (amortized cost $21.7 at June 30, 2026 and $10.1 at December 31, 2025) 21.7 10.1
Total investments 2,335.9 2,338.8
Cash and cash equivalents 113.3 159.8
Restricted cash and cash equivalents 0.2 0.2
Accrued investment income 16.3 15.5
Premiums receivable (less CECL allowance of $24.7 at June 30, 2026 and $22.6 at December 31, 2025) 332.1 335.4
Reinsurance recoverable for:    
Paid losses 7.3 5.9
Unpaid losses (less CECL allowance of $0.8 at June 30, 2026 and $0.8 at December 31, 2025) 379.3 385.7
Deferred policy acquisition costs 56.3 57.1
Income Taxes Receivable 10.4 16.1
Deferred income tax asset, net 18.5 14.3
Property and equipment, net 6.2 6.5
Operating lease right-of-use assets 3.4 3.7
Intangible assets, net 13.6 13.6
Goodwill 36.2 36.2
Cloud computing arrangements 15.2 12.9
Other assets 36.1 34.9
Total assets 3,380.3 3,436.6
Liabilities and stockholders’ equity    
Unpaid losses and loss adjustment expenses 1,775.2 1,805.8
Unearned premiums 385.1 391.9
Commissions and premium taxes payable 55.1 59.9
Accounts payable and accrued expenses 18.7 23.4
Deferred reinsurance gain—LPT Agreement 85.3 88.0
Short-Term Debt 0.0 16.0
Operating lease liability 3.6 3.9
Non-cancellable obligations 6.2 7.7
Long-Term Debt 125.0 19.0
Other liabilities 67.3 65.3
Total liabilities 2,521.5 2,480.9
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.01 par value; 150,000,000 shares authorized; 58,352,888 and 58,276,637 shares issued and 17,954,305 and 20,342,135 shares outstanding at June 30, 2026 and December 31, 2025, respectively 0.6 0.6
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued 0.0 0.0
Additional paid-in capital 429.3 427.8
Retained earnings 1,480.5 1,453.8
Accumulated other comprehensive (loss) income, net of tax (12.2) 7.3
Treasury stock, at cost (40,398,583 shares at June 30, 2026 and 37,934,502 shares at December 31, 2025) (1,039.4) (933.8)
Equity, Attributable to Parent, Total 858.8 955.7
Total liabilities and stockholders’ equity $ 3,380.3 $ 3,436.6