| Schedule of Fair Value Measurements |
The tables below present the balances of the Company’s invested assets measured at fair value on a recurring basis:
|
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|
|
|
|
|
|
|
|
|
|
|
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|
June 30, 2026 |
|
Total |
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
Significant Other Observable Inputs (Level 2) |
|
|
Significant Unobservable Inputs (Level 3) |
|
Financial assets: |
|
(in thousands) |
|
Cash and cash equivalents |
|
$ |
587,597 |
|
|
$ |
587,597 |
|
|
$ |
— |
|
|
$ |
— |
|
Restricted cash |
|
|
13,782 |
|
|
|
13,782 |
|
|
|
— |
|
|
|
— |
|
Total assets: |
|
$ |
601,379 |
|
|
$ |
601,379 |
|
|
$ |
— |
|
|
$ |
— |
|
Debt Securities Available-for-sale |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government and agency securities |
|
$ |
130,310 |
|
|
$ |
— |
|
|
$ |
130,310 |
|
|
$ |
— |
|
States, municipalities and political subdivisions |
|
|
345,557 |
|
|
|
— |
|
|
|
345,557 |
|
|
|
— |
|
Corporate bonds |
|
|
248,314 |
|
|
|
— |
|
|
|
248,314 |
|
|
|
— |
|
Mortgage-backed securities |
|
|
74,432 |
|
|
|
— |
|
|
|
74,432 |
|
|
|
— |
|
Asset-backed securities |
|
|
967 |
|
|
|
— |
|
|
|
967 |
|
|
|
— |
|
Other |
|
|
2,330 |
|
|
|
— |
|
|
|
2,330 |
|
|
|
— |
|
Total debt securities |
|
$ |
801,910 |
|
|
$ |
— |
|
|
$ |
801,910 |
|
|
$ |
— |
|
Equity Securities |
|
|
|
|
|
|
|
|
|
|
|
|
Common stock |
|
|
816 |
|
|
|
816 |
|
|
|
— |
|
|
|
— |
|
Total debt securities and equity securities |
|
$ |
802,726 |
|
|
$ |
816 |
|
|
$ |
801,910 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Total |
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
Significant Other Observable Inputs (Level 2) |
|
|
Significant Unobservable Inputs (Level 3) |
|
Financial assets: |
|
(in thousands) |
|
Cash and cash equivalents |
|
$ |
559,274 |
|
|
$ |
559,274 |
|
|
$ |
— |
|
|
$ |
— |
|
Restricted cash |
|
|
13,307 |
|
|
|
13,307 |
|
|
|
— |
|
|
|
— |
|
Total assets: |
|
$ |
572,581 |
|
|
$ |
572,581 |
|
|
$ |
— |
|
|
$ |
— |
|
Debt Securities Available-for-sale |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government and agency securities |
|
$ |
90,184 |
|
|
$ |
— |
|
|
$ |
90,184 |
|
|
$ |
— |
|
States, municipalities and political subdivisions |
|
|
335,482 |
|
|
|
— |
|
|
|
335,482 |
|
|
|
— |
|
Corporate bonds |
|
|
225,722 |
|
|
|
— |
|
|
|
225,722 |
|
|
|
— |
|
Mortgage-backed securities |
|
|
57,600 |
|
|
|
— |
|
|
|
57,600 |
|
|
|
— |
|
Asset-backed securities |
|
|
1,169 |
|
|
|
— |
|
|
|
1,169 |
|
|
|
— |
|
Other |
|
|
3,080 |
|
|
|
— |
|
|
|
3,080 |
|
|
|
— |
|
Total debt securities |
|
$ |
713,237 |
|
|
$ |
— |
|
|
$ |
713,237 |
|
|
$ |
— |
|
Equity Securities |
|
|
|
|
|
|
|
|
|
|
|
|
Common stock |
|
|
1,064 |
|
|
|
1,064 |
|
|
|
— |
|
|
|
— |
|
Total debt securities and equity securities |
|
$ |
714,301 |
|
|
$ |
1,064 |
|
|
$ |
713,237 |
|
|
$ |
— |
|
|