| Summary of Financial Instruments Measured at Fair Value on Recurring Basis |
The following tables present the categorization for our financial instruments measured at fair value on a recurring basis at June 30, 2026 and December 31, 2025:
| | | | | | | | | | | | | | | | June 30, 2026 | | Fair Value Measurements | | Description | Total | Level 1 | Level 2 | Level 3 | | Fixed Maturity, Available-for-Sale: | | | | | | US Treasury and government agencies | $ | 93,506 | | $ | 29,555 | | $ | 63,951 | | $ | — | | | | | | | | States, municipalities and political subdivisions | 172,377 | | — | | 172,377 | | — | | | Corporate | 814,640 | | — | | 814,640 | | — | | | Residential mortgage-backed | 770,500 | | — | | 770,500 | | — | | | Commercial mortgage-backed | 170,300 | | — | | 170,300 | | — | | | Other asset-backed | 262,196 | | — | | 262,196 | | — | | | Total Fixed Maturity, Available-for-Sale | $ | 2,283,519 | | $ | 29,555 | | $ | 2,253,964 | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Money Market Accounts | 24,122 | | 24,122 | | — | | — | | | Corporate-Owned Life Insurance | 14,242 | | — | | 14,242 | | — | | | Total Assets Measured at Fair Value | $ | 2,321,883 | | $ | 53,677 | | $ | 2,268,206 | | $ | — | |
| | | | | | | | | | | | | | | | December 31, 2025 | | Fair Value Measurements | | Description | Total | Level 1 | Level 2 | Level 3 | | Fixed Maturity, Available-for-Sale: | | | | | | US Treasury and government agencies | $ | 104,104 | | $ | 26,568 | | $ | 77,536 | | $ | — | | | | | | | | States, municipalities and political subdivisions | 261,734 | | — | | 261,734 | | — | | | Corporate | 783,154 | | — | | 783,154 | | — | | | Residential mortgage-backed | 715,597 | | — | | 715,597 | | — | | | Commercial mortgage-backed | 145,407 | | — | | 145,407 | | — | | | Other asset-backed | 195,354 | | — | | 195,354 | | — | | | Total Fixed Maturity, Available-for-Sale | $ | 2,205,350 | | $ | 26,568 | | $ | 2,178,782 | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Money Market Accounts | 44,751 | | 44,751 | | — | | — | | | Corporate-Owned Life Insurance | 13,462 | | — | | 13,462 | | — | | | Total Assets Measured at Fair Value | $ | 2,263,563 | | $ | 71,319 | | $ | 2,192,244 | | $ | — | |
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| Summary of Financial Instruments Not Carried at Fair Value on Recurring Basis |
The fair value of financial instruments that are not carried at fair value on a recurring basis in the financial statements at June 30, 2026 and December 31, 2025 are summarized below: | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Description | Fair Value Total | Level 1 | Level 2 | Level 3 | Net Asset Value | | Financial assets: | | | | | | | Cash and cash equivalents | $ | 115,323 | | $ | 115,323 | | $ | — | | $ | — | | $ | — | | Other Long Term Investments(1) | 220,933 | | — | | 1,551 | | — | | 219,382 | | | Mortgage Loans | 29,926 | | — | | — | | 29,926 | | — | | | Total | $ | 366,182 | | $ | 115,323 | | $ | 1,551 | | $ | 29,926 | | $ | 219,382 | | | | | | | | | Financial Liabilities: | | | | | | | Long Term Debt | $ | 139,291 | | $ | — | | $ | 139,291 | | $ | — | | $ | — | | | Total | $ | 139,291 | | $ | — | | $ | 139,291 | | $ | — | | $ | — | | | | | | | |
(1) As a member of Lloyd's, the Company participates in the syndicate results which include the fair value of the investments. The fair value of Lloyd's syndicate investments included in "Other long-term investments" was $116.0 million at June 30, 2026. Also included in "Other long-term investments" on the Consolidated Balance Sheets is our interest in limited liability partnerships with a fair value of $103.4 million at June 30, 2026. | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Description | Fair Value Total | Level 1 | Level 2 | Level 3 | Net Asset Value | | Financial assets: | | | | | | | Cash and cash equivalents | $ | 111,581 | | $ | 111,581 | | $ | — | | $ | — | | $ | — | | Other Long Term Investments(1) | 228,507 | | — | | 1,409 | | — | | 227,098 | | | Mortgage Loans | 30,127 | | — | | — | | 30,127 | | — | | | Total | $ | 370,215 | | $ | 111,581 | | $ | 1,409 | | $ | 30,127 | | $ | 227,098 | | | | | | | | | Financial Liabilities: | | | | | | | Long Term Debt | $ | 142,319 | | $ | — | | $ | 142,319 | | $ | — | | $ | — | | | Total | $ | 142,319 | | $ | — | | $ | 142,319 | | $ | — | | $ | — | | | | | | | |
(1) As a member of Lloyd's, the Company participates in the syndicate results which include the fair value of the investments. The fair value of Lloyd's syndicate investments included in "Other long-term investments" was $127.9 million at December 31, 2025. Also included in "Other long-term investments" on the Consolidated Balance Sheets is our interest in limited liability partnerships with a fair value of $99.2 million at December 31, 2025.
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