v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 15,328 $ 6,355
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Amortization and depreciation 3,158 2,834
Restricted stock and stock option expense 2,028 4,238
Deferred income taxes (339) 993
Amortization of bond premium and discount, net (1,089) 13,319
Net realized investment losses (gains) 2,045 (263)
Loss from equity method investments, net of distributions 82 957
Changes in:    
Premium receivables, net (17,662) 4,655
Reinsurance receivables, net (2,746) (711)
Funds held by ceding insurers 774 5,685
Unpaid losses and loss adjustment expenses (31,676) (24,264)
Unearned premiums 9,775 11,602
Reinsurance balances payable 1,508 (5,130)
Other assets and liabilities (6,160) (3,773)
Contingent commissions (2,961) (2,710)
Income tax receivable / payable (2,064) (1,325)
Deferred acquisition costs (3,405) (2,779)
Prepaid reinsurance premiums (279) (285)
Net cash provided by (used for) operating activities (33,683) 9,398
Cash flows from investing activities:    
Proceeds from sale of fixed maturities 162,919 87,361
Proceeds from sale of equity securities 3,550 0
Proceeds from maturity of fixed maturities 1,266,821 1,232,908
Proceeds from maturity of preferred stock 4,500 0
Proceeds from other invested assets 7,908 6,385
Purchases of fixed maturities (1,369,767) (1,275,510)
Net cash provided by investing activities 75,931 51,144
Cash flows from financing activities:    
Distributions paid to common shareholders (10,055) (9,987)
Distributions paid to preferred shareholders (220) (220)
Net cash used for financing activities (10,275) (10,207)
Net change in cash and cash equivalents 31,973 50,335
Cash and cash equivalents at beginning of period 65,542 17,009
Cash and cash equivalents at end of period 97,515 67,344
Supplemental disclosure of cash flow information:    
Income tax paid 7,015 2,012
Interest paid $ 0 $ 0