v3.26.1
Note 6 - Reserve for Losses and Loss Adjustment Expenses - Reconciliation of Changes in Reserve Balance for Losses and Loss Adjustment Expenses (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]          
Reserve for losses and LAE net of reinsurance recoverables at beginning of period $ 341,016 $ 182,661 $ 275,959 $ 155,299  
Add: Balances acquired [1] 0 0 22,178 6,788  
Current year [2] 113,312 52,698 210,741 95,757  
Prior years [2] (14,324) (6,515) (24,656) (10,830)  
Total incurred [2] 98,988 46,183 186,085 84,927  
Current year 7,262 17,659 27,980 22,657  
Prior years 11,795 12,000 35,295 25,172  
Total payments 19,057 29,659 63,275 47,829  
Reserve for losses and LAE net of reinsurance recoverables at end of period 420,947 199,185 420,947 199,185  
Add: Reinsurance recoverables on unpaid losses and LAE at end of period 523,790 399,471 523,790 399,471 $ 412,273
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE at end of period $ 944,737 $ 598,656 $ 944,737 $ 598,656 $ 688,231
[1] Represents amounts recognized in Reserve for losses and LAE net of reinsurance recoverables upon acquisition of Gray Surety and FIA on 1/31/2026 and 1/1/2025, respectively, in accordance with ASC 805, Business Combinations. See Note 23 of the Notes to the Consolidated Financial Statements in our 2025 Annual Report on Form 10-K and Note 14 of this Quarterly Report on Form 10-Q for additional information regarding the acquisitions.
[2] Losses for the three months ended June 30, 2026 and 2025 include $6.2 million and an insignificant amount, respectively, of losses on derivative instruments. Losses for the six months ended June 30, 2026 and 2025 include $18.5 million and an insignificant amount, respectively, of losses on derivative instruments.