Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| REVENUE: | ||||
| Gross premiums written | $ 216,304 | $ 228,346 | $ 365,699 | $ 426,198 |
| Change in gross unearned premiums | (77,574) | (62,886) | (85,835) | (98,637) |
| Gross premiums earned | 138,730 | 165,460 | 279,864 | 327,561 |
| Ceded premiums earned | (69,032) | (87,017) | (144,555) | (180,846) |
| Net premiums earned | 69,698 | 78,443 | 135,309 | 146,715 |
| Net investment income | 5,402 | 5,793 | 10,481 | 10,304 |
| Net realized investment gains | 3,264 | 0 | 3,270 | 1,382 |
| Net unrealized gains on equity securities | 4,233 | 2,231 | 4,761 | 268 |
| Total revenue | 82,597 | 86,467 | 153,821 | 158,669 |
| EXPENSES: | ||||
| Losses and loss adjustment expenses | 18,833 | 15,540 | 29,076 | 26,929 |
| Policy acquisition costs | 22,703 | 24,257 | 45,096 | 47,723 |
| General and administrative expenses | 10,266 | 7,778 | 20,969 | 17,284 |
| Interest expense | 2,344 | 2,719 | 4,688 | 5,436 |
| Total expenses | 54,146 | 50,294 | 99,829 | 97,372 |
| Income before other income | 28,451 | 36,173 | 53,992 | 61,297 |
| Other income (loss) | (48) | 1,379 | 164 | 2,449 |
| Income before income taxes | 28,403 | 37,552 | 54,156 | 63,746 |
| Provision for income taxes | 6,507 | 9,515 | 13,006 | 15,998 |
| Income from continuing operations, net of tax | 21,896 | 28,037 | 41,150 | 47,748 |
| Income (loss) from discontinued operations, net of tax | 0 | (1,595) | 0 | 42 |
| Net income | 21,896 | 26,442 | 41,150 | 47,790 |
| OTHER COMPREHENSIVE INCOME: | ||||
| Change in net unrealized gains on investments | 2,512 | 3,042 | 1,268 | 7,254 |
| Reclassification adjustment for net realized investment gains | (3,264) | 0 | (3,270) | (1,382) |
| Income tax benefit related to items of other comprehensive income | 700 | 0 | 700 | 0 |
| Total comprehensive income | $ 21,844 | $ 29,484 | $ 39,848 | $ 53,662 |
| Weighted average shares outstanding | ||||
| Weighted average shares outstanding, Basic | 48,094,148 | 48,434,446 | 48,318,586 | 48,285,665 |
| Weighted average shares outstanding, Diluted | 49,303,289 | 49,636,088 | 49,559,755 | 49,556,882 |
| Basic | ||||
| Continuing operations | $ 0.46 | $ 0.58 | $ 0.85 | $ 0.99 |
| Discontinued operations | 0 | (0.03) | 0 | 0 |
| Total | 0.46 | 0.55 | 0.85 | 0.99 |
| Diluted | ||||
| Continuing operations | 0.44 | 0.56 | 0.83 | 0.96 |
| Discontinued operations | 0 | (0.03) | 0 | 0 |
| Total | $ 0.44 | $ 0.53 | $ 0.83 | $ 0.96 |
| X | ||||||||||
- Definition Change in Gross Unearned Premiums No definition available.
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| X | ||||||||||
- Definition This amount represents premiums earned from direct customers and premiums earned on policies assumed from other insurance entities. No definition available.
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| X | ||||||||||
- Definition Weighted Average Number of Shares Outstanding, Basic and Diluted [Abstract] No definition available.
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| X | ||||||||||
- Definition Amount of earned premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of amortization expense (reversal of expense) for deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount after tax of income (loss) from operations classified as a discontinued operation. Excludes gain (loss) on disposal and provision for gain (loss) until disposal. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of unrealized gain (loss) on investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of realized and unrealized gain (loss) on investment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount after accretion (amortization) of discount (premium), and investment expense, of interest income and dividend income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount before tax of reclassification adjustment from accumulated other comprehensive income for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of tax expense (benefit) allocated to other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount, before tax and adjustment, of unrealized holding gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Excludes unrealized gain (loss) on investment in debt security measured at amortized cost (held-to-maturity) from transfer to available-for-sale. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of direct and assumed premiums written. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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