v3.26.1
Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost, Allowance for Credit Loss, Gross Unrealized Gains and Losses, and Estimated Fair Value of Available-for-Sale Fixed-Maturity Securities The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair value of the Company’s available-for-sale debt securities as of June 30, 2026 is as follows:

 

 

 

Amortized
Cost

 

 

Gross Unrealized Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair Value (1)

 

U.S. Treasury securities

 

$

 

198,426

 

 

$

 

76

 

 

$

 

(1,430

)

 

$

 

197,072

 
(1)
There was no allowance for credit losses for the periods presented. Estimated fair value is determined using quoted prices in active markets for identical assets (Level 1 inputs). Refer to Note 4. Fair Value Measurements for additional details.
Summary of Amortized Cost and Estimated Fair Value of Available-for-Sale Fixed-Maturity Securities by Contractual Maturity

The following table presents the amortized cost and estimated fair value of the Company's available-for-sale fixed-maturity securities by contractual maturity as of June 30, 2026.

 

 

Amortized Cost

 

 

Estimated Fair Value

 

Within one year

 

$

 

—

 

 

$

 

—

 

After one year through five years

 

 

 

99,406

 

 

 

 

99,482

 

After five years through ten years

 

 

 

99,020

 

 

 

 

97,590

 

After ten years

 

 

 

—

 

 

 

 

—

 

Total

 

$

 

198,426

 

 

$

 

197,072

 

 
Summary of Available-for-sale mixed-maturity securities with gross and unrealized loss positions

Available-for-sale fixed-maturity securities with gross unrealized loss positions as of June 30, 2026, aggregated by investment category and length of time the individual securities have been in a continuous loss position are as follows:

 

 

 

 

Less Than Twelve Months

 

 

 

Twelve Months or Longer

 

 

 

Gross
Unrealized
Loss

 

 

Fair Value

 

 

Gross
Unrealized
Loss

 

 

Fair Value

 

U.S. Treasury securities

 

$

 

(1,430

)

 

$

 

97,590

 

 

$

 

—

 

 

$

 

—

 

 
Summary of Investment Income by Source

Investment income by source is as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cash and cash equivalents

 

$

 

1,812

 

 

$

 

763

 

 

$

 

4,184

 

 

$

 

1,161

 

Available-for-sale fixed-maturity securities

 

 

 

1,151

 

 

 

 

—

 

 

 

 

1,291

 

 

 

 

—

 

Investment income

 

$

 

2,963

 

 

$

 

763

 

 

$

 

5,475

 

 

$

 

1,161