v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 39.2 $ 42.5
Depreciation 1.8 1.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 2.6 2.8
Intangible Asset, Finite-Lived, Amortization Expense 4.5 5.0
Amortization of discounts and premiums on investments, net (1.3) (1.1)
Allowance for expected credit losses 2.1 3.1
Deferred income tax expense 1.0 1.2
Net realized and unrealized (gains) on investments (17.0) (8.1)
Change in operating assets and liabilities:    
Premiums receivable 1.2 (23.9)
Reinsurance recoverable on paid and unpaid losses 5.0 10.6
Cloud computing arrangements (6.8) (1.4)
Operating lease right-of-use assets 0.3 0.7
Current federal income taxes 5.7 (2.7)
Unpaid losses and loss adjustment expenses (30.6) (21.4)
Unearned premiums (6.8) 27.4
Accounts payable, accrued expenses and other liabilities 0.1 (5.5)
Deferred reinsurance gain—LPT Agreement (2.7) (3.3)
Operating lease liabilities (0.3) (0.8)
Non-cancellable obligations (1.5) (3.9)
Other (4.6) (8.3)
Net cash (used in) provided by operating activities (8.1) 14.6
Investing activities    
Purchases of fixed maturity securities (268.3) (108.9)
Payments to Acquire Equity Securities, FV-NI (24.4) (44.6)
Purchases of short-term investments (27.7) (9.0)
Purchases of other invested assets (2.4) (3.0)
Distributions from other invested assets 4.4 8.0
Proceeds from sale of fixed maturity securities 79.0 75.8
Proceeds from Sale of Equity Securities, FV-NI 52.1 41.0
Proceeds from maturities and redemptions of fixed maturity securities 167.7 90.7
Proceeds from sales and maturities of short-term investments 16.1 0.1
Net change in unsettled investment purchases and sales (0.2) (2.5)
Capital expenditures and other (1.5) (1.4)
Net cash (used in) provided by investing activities (5.2) 46.2
Financing activities    
Acquisition of common stock and excise tax payments (109.5) (43.3)
Cash transactions related to stock-based compensation (1.1) (1.3)
Dividends paid to stockholders (12.6) (15.4)
Proceeds from FHLBank Borrowings, Financing Activities 70.0 0.0
Proceeds from Lines of Credit 20.0 0.0
Payments on finance leases 0.0 0.0
Net cash (used in) financing activities (33.2) (60.0)
Net (decrease) increase in cash, cash equivalents and restricted cash (46.5) 0.8
Cash, cash equivalents, restricted cash and restricted cash equivalents at the beginning of the period 160.0 68.5
Cash, cash equivalents, restricted cash and restricted cash equivalents at the end of the period 113.5 69.3
Cash and cash equivalents 113.3  
Restricted cash and cash equivalents 0.2  
Total cash, cash equivalents, restricted cash $ 113.5 $ 69.3