v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - UNAUDITED - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Net premiums earned $ 363.5 $ 353.0 $ 727.2 $ 674.3
Net investment income 5.0 9.4 13.7 18.1
Net realized gains on investments 0.0 0.0 0.1 0.0
Fee income 19.8 19.7 40.1 38.4
Other income 0.9 0.8 1.6 1.5
Total revenues 389.2 382.9 782.7 732.3
Operating expenses:        
Loss and loss adjustment expenses 239.9 233.3 466.1 438.9
Sales and marketing 25.3 37.1 52.6 88.6
Other insurance expense 58.4 47.9 117.8 84.6
Technology and development 15.5 13.7 30.7 25.1
General and administrative 15.5 23.6 40.0 44.1
Total operating expenses 354.6 355.6 707.2 681.3
Operating income 34.6 27.3 75.5 51.0
Interest expense 4.1 5.3 8.9 10.6
Loss on extinguishment of debt 4.9 0.0 4.9 0.0
Income before income tax expense 25.6 22.0 61.7 40.4
Income tax expense 0.2 0.0 0.4 0.0
Net income 25.4 22.0 61.3 40.4
Net income attributable to participating securities 1.3 1.1 3.0 2.0
Net income attributable to common shareholders 24.1 20.9 58.3 38.4
Other comprehensive (loss) income:        
Net income 25.4 22.0 61.3 40.4
Changes in net unrealized (losses) gains on investments (2.4) 1.6 (5.9) 4.6
Comprehensive income $ 23.0 $ 23.6 $ 55.4 $ 45.0
Earnings per common share: (both Class A and B)        
Basic (in dollars per share) $ 1.54 $ 1.36 $ 3.74 $ 2.51
Diluted (in dollars per share) $ 1.49 $ 1.29 $ 3.58 $ 2.36
Weighted-average common shares outstanding: (both Class A and B)        
Basic (in shares) 15.7 15.4 15.6 15.3
Diluted (in shares) 17.0 17.1 17.1 17.1