v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net cash provided by operating activities $ 214,197 $ 208,061
Investing activities    
Purchases of property and equipment (416) (64)
Proceeds from sale of property and equipment 240 0
Capitalized software costs (4,060) (3,076)
Purchases of fixed maturity securities (463,246) (629,766)
Purchases of equity securities (61,130) (10,261)
Sales and maturities of fixed maturity securities 263,188 492,146
Sales of equity securities 39,364 12,956
Change in securities receivable or payable, net (13,021) (7,035)
Investments in limited partnerships and other assets (7,707) (6,089)
Acquisitions, net of cash acquired (246,321) (61,509)
Net cash used in investing activities (493,109) (212,698)
Financing activities    
Proceeds from term loan 300,000 0
Payments on term loan (1,875) 0
Payment of debt issuance costs (2,566) 0
Proceeds from stock offering, net of offering costs 0 (131)
Proceeds from common stock issued via employee stock purchase plan 743 526
Proceeds from common stock issued via stock option exercises 485 3,266
Policy holder contribution to surplus 2,042 1,752
Repurchases of common stock (64,105) 0
Net cash provided by financing activities 234,724 5,413
Net (decrease) increase in cash, cash equivalents and restricted cash (44,188) 776
Cash, cash equivalents and restricted cash at beginning of period 106,892 80,539
Cash, cash equivalents and restricted cash at end of period 62,704 81,315
Supplementary cash flow information:    
Cash paid for federal income taxes 25,440 24,091
Cash paid for state income taxes 1,688 626
Cash paid for interest 7,542 119
Cash and cash equivalents 62,689  
Restricted cash 15  
Cash and cash equivalents and restricted cash $ 62,704 $ 81,315