Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| REVENUES: | ||||||||
| Gross premiums written | $ 388,441 | $ 410,968 | $ 735,187 | $ 766,965 | ||||
| Change in gross unearned premiums | (37,288) | (57,374) | (30,471) | (59,543) | ||||
| Gross premiums earned | 351,153 | 353,594 | 704,716 | 707,422 | ||||
| Ceded premiums | (150,029) | (157,278) | (303,899) | (311,072) | ||||
| Net premiums earned | 201,124 | 196,316 | 400,817 | 396,350 | ||||
| Net investment income | 10,595 | 9,034 | 20,462 | 17,609 | ||||
| Net realized (losses) gains on debt securities and other investments | (37) | 4 | (21) | 0 | ||||
| Other revenue | 2,513 | 2,681 | 5,596 | 5,595 | ||||
| Total revenues | 214,195 | 208,035 | 426,854 | 419,554 | ||||
| EXPENSES: | ||||||||
| Losses and loss adjustment expenses | 61,057 | 75,620 | 152,654 | 175,027 | ||||
| Policy acquisition costs, net of ceding commission income | [1] | 45,510 | 43,146 | 90,845 | 88,961 | |||
| General and administrative expenses, net of ceding commission income | [2] | 23,778 | 24,399 | 48,687 | 48,260 | |||
| Total expenses | 130,345 | 143,165 | 292,186 | 312,248 | ||||
| Operating income | 83,850 | 64,870 | 134,668 | 107,306 | ||||
| Interest expense, net | 1,690 | 1,880 | 3,468 | 4,306 | ||||
| Income before income taxes | 82,160 | 62,990 | 131,200 | 103,000 | ||||
| Income tax expense | 20,450 | 14,966 | 33,006 | 24,502 | ||||
| Net income (loss) | 61,710 | 48,024 | 98,194 | 78,498 | ||||
| OTHER COMPREHENSIVE INCOME | ||||||||
| Change in net unrealized (losses) gains on investments | (1,947) | 6,072 | (6,438) | 14,549 | ||||
| Reclassification adjustment for net realized investment losses | 37 | (4) | 21 | 0 | ||||
| Income tax benefits (expense) related to items of other comprehensive income | 452 | (1,443) | 1,526 | (3,459) | ||||
| Total comprehensive income | $ 60,252 | $ 52,649 | $ 93,303 | $ 89,588 | ||||
| Weighted average shares outstanding | ||||||||
| Basic (in shares) | 30,017,180 | 31,004,218 | 30,349,056 | 30,851,022 | ||||
| Diluted (in shares) | 30,076,443 | 31,063,481 | 30,408,347 | 30,910,285 | ||||
| Earnings per share | ||||||||
| Basic (in dollars per share) | $ 2.06 | $ 1.55 | $ 3.24 | $ 2.54 | ||||
| Diluted (in dollars per share) | $ 2.05 | $ 1.55 | $ 3.23 | $ 2.54 | ||||
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| X | ||||||||||
- Definition Benefits losses and expenses before interest and debt expense. No definition available.
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| X | ||||||||||
- Definition Debt and equity securities realized gain loss and impairment losses. No definition available.
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- Definition Gross Earned Premiums No definition available.
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- Definition Increase (decrease) in unearned premiums gross. No definition available.
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- Definition Policy acquisition cost amortization expense. No definition available.
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- References No definition available.
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- Definition Amount of earned premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount before tax of reclassification adjustment from accumulated other comprehensive income for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of tax expense (benefit) allocated to other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount, before tax and adjustment, of unrealized holding gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Excludes unrealized gain (loss) on investment in debt security measured at amortized cost (held-to-maturity) from transfer to available-for-sale. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of direct and assumed premiums written. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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