v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Fixed maturities, available-for-sale, at fair value (amortized cost of $821,858 and $726,774) $ 801,910 $ 713,237
Equity securities, at fair value, (cost $816 and $1,064) 816 1,064
Other investments, net 1,259 1,285
Total investments 803,985 715,586
Cash and cash equivalents 587,597 559,274
Restricted cash 13,782 13,307
Accrued investment income 7,507 6,556
Premiums receivable, net 94,034 95,331
Reinsurance recoverable on paid and unpaid claims, net of allowance for credit losses of $175 305,175 318,588
Prepaid reinsurance premiums 460,694 307,039
Deferred income tax asset, net 6,003 5,855
Deferred policy acquisition costs, net 68,921 64,544
Property and equipment, net 27,715 28,254
Right-of-use lease asset, finance 11,374 12,598
Right-of-use lease asset, operating 6,086 4,878
Intangibles, net 27,147 30,189
Other assets 32,416 33,823
Total Assets 2,452,436 2,195,822
LIABILITIES AND STOCKHOLDERS' EQUITY    
Unpaid losses and loss adjustment expenses 481,997 579,477
Unearned premiums 738,384 707,923
Reinsurance payable 501,033 232,801
Long-term debt, net 71,287 78,428
Advance premiums 26,635 19,164
Income taxes payable, net 5,660 4,282
Accrued compensation 6,618 8,844
Lease liability, finance 14,254 15,587
Lease liability, operating 6,293 5,800
Accounts payable and other liabilities 32,547 38,265
Total Liabilities 1,884,708 1,690,571
Commitments and contingencies (Note 17)
Stockholders’ Equity:    
Common stock, $0.0001 par value, 50,000,000 shares authorized, 43,071,733 shares issued and 29,732,416 outstanding at June 30, 2026 and 43,171,585 shares issued and 30,833,776 outstanding at December 31, 2025 3 3
Additional paid-in capital 359,501 365,736
Accumulated other comprehensive loss, net of taxes (15,446) (10,555)
Treasury stock, at cost, 13,339,317 and 12,337,809 shares at June 30, 2026 and December 31, 2025, respectively (157,773) (133,183)
Retained earnings 381,443 283,250
Total Stockholders' Equity 567,728 505,251
Total Liabilities and Stockholders' Equity $ 2,452,436 $ 2,195,822