v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Fixed maturities:    
Available for sale, at fair value (amortized cost: $1,295,106 and $1,330,310; net of allowance for expected credit losses of $0 at June 30, 2026 and December 31, 2025) $ 1,286,724 $ 1,325,502
Equity securities, at fair value 23,603 33,673
Other invested assets 9,108 17,097
Total investments 1,319,435 1,376,272
Cash and cash equivalents 97,515 65,542
Premium receivables, net of allowance for expected credit losses of $3,861 at June 30, 2026 and $3,640 at December 31, 2025 84,631 66,969
Reinsurance receivables, net of allowance for expected credit losses of $1,488 at June 30, 2026 and December 31, 2025 65,341 62,595
Funds held by ceding insurers 21,400 22,114
Deferred income taxes 21,164 20,076
Deferred acquisition costs 44,588 41,183
Intangible assets 16,613 16,845
Goodwill 4,820 4,820
Prepaid reinsurance premiums 3,886 3,607
Income tax receivable 4,681 2,617
Lease right of use assets 7,546 8,166
Other assets 31,873 29,956
Total assets 1,723,493 1,720,762
Liabilities:    
Unpaid losses and loss adjustment expenses 718,515 750,191
Unearned premiums 192,503 182,728
Reinsurance balances payable 3,368 1,860
Payable for securities 45,300 21,594
Contingent commissions 4,198 7,159
Lease liabilities 7,727 8,331
Other liabilities 40,977 42,309
Total liabilities 1,012,588 1,014,172
Commitments and contingencies (Note 9)
Shareholders’ equity:    
Common shares 0 0
Additional paid-in capital 467,748 465,720
Accumulated other comprehensive income (loss), net of tax (6,766) (4,000)
Retained earnings 278,615 273,562
Total shareholders’ equity 710,905 706,590
Total liabilities and shareholders’ equity 1,723,493 1,720,762
Series A Cumulative Fixed Rate Preferred Shares    
Shareholders’ equity:    
Series A cumulative fixed rate preferred shares, $1,000 par value; 100,000,000 shares authorized, shares issued and outstanding: 4,000 and 4,000 shares, respectively, liquidation preference: $1,000 per share and $1,000 per share, respectively 4,000 4,000
Class A Common Shares    
Shareholders’ equity:    
Class A common shares in treasury, at cost: 1,287,768 and 1,287,768 shares, respectively $ (32,692) $ (32,692)