v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Company's Segment Results
The following table summarizes the Company’s segment results:
Excess &
Surplus
Lines		Specialty
Admitted
Insurance		Corporate
and
Other		Total
(in thousands)
As of and for the Three Months Ended June 30, 2026
Gross written premiums$250,170 $18,729 $— $268,899 
Net earned premiums137,306 1,712 — 139,018 
Fee income— 34 — 34 
Losses and loss adjustment expenses96,687 2,418 — 99,105 
Less: losses and loss adjustment expense - retroactive reinsurance6,927 — — 6,927 
Losses and loss adjustment expenses excluding retroactive reinsurance89,760 2,418 — 92,178 
Excess &
Surplus
Lines		Specialty
Admitted
Insurance		Corporate
and
Other		Total
(in thousands)
Other operating expenses:
Net commissions16,289 (1,466)— 14,823 
Employee compensation14,485 1,725 4,629 20,839 
All other operating expenses6,843 1,876 2,820 11,539 
37,617 2,135 7,449 47,201 
Underwriting profit (loss)9,929 (2,807)(7,449)(327)
Segment revenues155,337 5,902 105 161,344 
Net investment income16,179 4,065 33 20,277 
Interest expense— — 5,613 5,613 
Segment goodwill181,831 — — 181,831 
Segment assets3,711,484 1,013,718 47,876 4,773,078 
As of and for the Three Months Ended June 30, 2025
Gross written premiums$300,444 $77,559 $— $378,003 
Net earned premiums141,370 11,239 — 152,609 
Fee income— 828 — 828 
Losses and loss adjustment expenses103,099 10,042 — 113,141 
Less: losses and loss adjustment expense - retroactive reinsurance9,239 — — 9,239 
Losses and loss adjustment expenses excluding retroactive reinsurance93,860 10,042 — 103,902 
Other operating expenses:
Net commissions14,975 (2,412)— 12,563 
Employee compensation15,497 2,612 5,313 23,422 
All other operating expenses5,331 3,246 2,909 11,486 
35,803 3,446 8,222 47,471 
Underwriting profit (loss)11,707 (1,421)(8,222)2,064 
Segment revenues158,320 16,166 357 174,843 
Net investment income15,941 4,224 351 20,516 
Interest expense— — 5,805 5,805 
Segment goodwill181,831 — — 181,831 
Segment assets3,639,964 1,351,271 27,087 5,018,322 
As of and for the Six Months Ended June 30, 2026
Gross written premiums$462,455 $42,817 $— $505,272 
Net earned premiums269,132 5,598 — 274,730 
Fee income— 124 — 124 
Losses and loss adjustment expenses200,461 6,804 — 207,265 
Less: losses and loss adjustment expense - retroactive reinsurance21,116 — — 21,116 
Losses and loss adjustment expenses excluding retroactive reinsurance179,345 6,804 — 186,149 
Other operating expenses:
Excess &
Surplus
Lines		Specialty
Admitted
Insurance		Corporate
and
Other		Total
(in thousands)
Net commissions31,926 (3,445)— 28,481 
Employee compensation30,470 3,492 11,360 45,322 
All other operating expenses12,806 3,473 5,170 21,449 
75,202 3,520 16,530 95,252 
Underwriting profit (loss)14,585 (4,602)(16,530)(6,547)
Segment revenues298,768 13,780 180 312,728 
Net investment income33,453 8,115 36 41,604 
Interest expense— — 11,202 11,202 
Segment goodwill181,831 — — 181,831 
Segment assets3,711,484 1,013,718 47,876 4,773,078 
As of and for the Six Months Ended June 30, 2025
Gross written premiums$513,687 $158,677 $— $672,364 
Net earned premiums278,398 26,113 — 304,511 
Fee income— 1,660 — 1,660 
Losses and loss adjustment expenses189,975 22,691 — 212,666 
Less: losses and loss adjustment expense - retroactive reinsurance7,311 — — 7,311 
Losses and loss adjustment expenses excluding retroactive reinsurance182,664 22,691 — 205,355 
Other operating expenses:
Net commissions29,976 (5,264)— 24,712 
Employee compensation31,897 5,423 13,763 51,083 
All other operating expenses10,496 6,650 5,090 22,236 
72,369 6,809 18,853 98,031 
Underwriting profit (loss)23,365 (1,727)(18,853)2,785 
Segment revenues309,856 36,263 1,013 347,132 
Net investment income31,159 8,541 824 40,524 
Interest expense— — 11,346 11,346 
Segment goodwill181,831 — — 181,831 
Segment assets3,639,964 1,351,271 27,087 5,018,322 
Schedule of Underwriting (Loss) Profit of Operating Segments by Individual Segment and Reconciliation to Consolidated (Loss) Income Before Taxes
The following table reconciles the underwriting profit (loss) of the operating segments by individual segment to consolidated income from continuing operations before income taxes:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(in thousands)
Underwriting profit (loss) of the operating segments:
Excess & Surplus Lines$9,929 $11,707 $14,585 $23,365 
Specialty Admitted Insurance(2,807)(1,421)(4,602)(1,727)
Total underwriting profit of operating segments7,122 10,286 9,983 21,638 
Other operating expenses of the Corporate and Other segment(7,449)(8,222)(16,530)(18,853)
Underwriting (loss) profit(327)2,064 (6,547)2,785 
Losses and loss adjustment expenses – retroactive reinsurance(6,927)(9,239)(21,116)(7,311)
Net investment income20,277 20,516 41,604 40,524 
Net realized and unrealized losses on investments999 (352)(5,633)(1,723)
Other income and expenses143 234 902 589 
Interest expense(5,613)(5,805)(11,202)(11,346)
Amortization of intangible assets(91)(91)(182)(182)
Income (loss) from continuing operations before income taxes$8,461 $7,327 $(2,174)$23,336