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 Income (Loss) $ 41,150 $ 47,790
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,611 3,413
Bond amortization and accretion 99 346
Net realized losses (gains) on investments (3,270) 413
Net unrealized gains on equity securities (4,761) (268)
Provision for uncollectable premiums 0 (26)
Provision for uncollectable reinsurance recoverables 9 (31)
Deferred income taxes, net 4,348 8,870
Stock based compensation 2,842 2,204
Fixed asset and intangible asset disposals 48 60
Loss on sale of subsidiary 0 328
Changes in operating assets and liabilities:    
Accrued investment income (285) (363)
Premiums receivable (49,468) (8,482)
Reinsurance recoverable on paid and unpaid losses 10,761 93,822
Ceded unearned premiums (115,063) (93,808)
Deferred policy acquisition costs, net (16,878) (18,540)
Other assets 1,718 2,102
Unpaid losses and loss adjustment expenses (46,781) (102,953)
Unearned premiums 85,836 101,973
Reinsurance payable on premiums 137,041 139,759
Accounts payable and accrued expenses 3,512 (21,742)
Operating lease liability (111) (79)
Other liabilities 402 (396)
Net cash provided by operating activities 52,760 154,392
INVESTING ACTIVITIES    
Proceeds from sales, maturities and repayments of fixed maturities 21,268 55,868
Proceeds from sales, maturities and repayments of equity securities 15,021 9,998
Proceeds from sales, maturities and repayments of other investments 5,318 20,566
Purchases of Fixed maturities (8,917) (22,638)
Purchases of Equity securities (3,980) (12,023)
Purchases of Other investments (689) (26,414)
Cost of property, equipment and capitalized software acquired (371) (96)
Net proceeds from sale of former subsidiary 0 4,495
Net cash provided by investing activities 27,650 29,756
FINANCING ACTIVITIES    
Tax withholding payment related to net settlement of equity awards (26) 0
Treasury stock (19,441) 0
Dividends (36,574) 0
Proceeds from issuance of common stock, including exercise of stock options 0 774
Net cash provided by (used in) financing activities (56,041) 774
Increase in cash, cash equivalents and restricted cash, including cash classified as assets held for sale 24,369 184,922
Cash, cash equivalents and restricted cash at beginning of period 292,854 222,290
Cash, cash equivalents and restricted at end of period 317,223 407,212
Supplemental Cash Flows Information    
Interest paid 4,688 5,438
State and Local Jurisdiction | Florida    
Supplemental Cash Flows Information    
State income taxes paid (refunded) (400) (987)
Federal    
Supplemental Cash Flows Information    
Interest paid 0 0
All other state    
Supplemental Cash Flows Information    
State income taxes paid (refunded) $ 4 $ (36)