Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands |
6 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
|||
| Operating activities | ||||
| Net cash (used in) provided by operating activities | [1] | $ (5,774) | $ (26,310) | |
| Fixed maturity securities, available-for-sale: | ||||
| Purchases | (156,887) | (148,956) | ||
| Sales | 17,219 | 7,616 | ||
| Maturities and calls | 92,674 | 55,891 | ||
| Equity securities: | ||||
| Purchases | (4,045) | (6,111) | ||
| Sales and redemptions | 2,805 | 4,940 | ||
| Bank loan participations: | ||||
| Purchases | (67,758) | (79,526) | ||
| Sales | 47,639 | 45,234 | ||
| Maturities | 14,205 | 16,121 | ||
| Other invested assets: | ||||
| Purchases | (6,397) | (21,718) | ||
| Return of capital | 321 | 600 | ||
| Proceeds from sales and principal repayments | 1,034 | 322 | ||
| Short-term investments, net | (4,037) | (14,142) | ||
| Securities receivable or payable, net | 10,325 | 7,707 | ||
| Purchases of property and equipment | (937) | (1,677) | ||
| Net cash used in investing activities | (53,839) | (133,699) | ||
| Financing activities | ||||
| Senior debt issuances | 0 | 25,000 | ||
| Payroll taxes withheld and remitted on net settlement of RSUs | (677) | (550) | ||
| Dividends on Series A preferred shares | (3,938) | (3,938) | ||
| Dividends on common stock | (985) | (1,061) | ||
| Payment of debt issuance costs | 0 | (1,130) | ||
| Net cash (used in) provided by financing activities | (5,600) | 18,321 | ||
| Change in cash, cash equivalents, and restricted cash equivalents | (65,213) | (141,688) | ||
| Cash, cash equivalents, and restricted cash equivalents at beginning of period | 269,422 | 391,050 | ||
| Cash, cash equivalents, and restricted cash equivalents at end of period | 204,209 | 249,362 | ||
| Supplemental information | ||||
| Interest paid | 12,214 | 11,694 | ||
| Restricted cash equivalents at beginning of period | 8,481 | 28,705 | ||
| Restricted cash equivalents at end of period | 8,633 | 29,321 | ||
| Change in restricted cash equivalents | $ 152 | $ 616 | ||
| ||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Increase (Decrease) In Restricted Cash Equivalents No definition available.
|
| X | ||||||||||
- Definition Represents payment to acquire Bank loan participations. No definition available.
|
| X | ||||||||||
- Definition Payments To Acquire Other Invested Assets No definition available.
|
| X | ||||||||||
- Definition Payments for (Proceeds from) Unsettled Investments, Net No definition available.
|
| X | ||||||||||
- Definition Represents cash inflow from sales of bank loan participations. No definition available.
|
| X | ||||||||||
- Definition Represents cash inflow from maturities of bank loan participations. No definition available.
|
| X | ||||||||||
- Definition Proceeds From Sale and Repayments Of Other Invested Assets No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash and cash equivalent, and cash and cash equivalent restricted to withdrawal or usage; including, but not limited to, discontinued operation. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalent, and cash and cash equivalent restricted to withdrawal or usage; including effect from exchange rate change and including, but not limited to, discontinued operation. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activity, including, but not limited to, discontinued operation. Financing activity includes, but is not limited to, obtaining resource from owner and providing return on, and return of, their investment; borrowing money and repaying amount borrowed, or settling obligation; and obtaining and paying for other resource obtained from creditor on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activity, including, but not limited to, discontinued operation. Investing activity includes, but is not limited to, making and collecting loan, acquiring and disposing of debt and equity instruments, property, plant, and equipment, and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activity, including, but not limited to, discontinued operation. Operating activity includes, but is not limited to, transaction, adjustment, and change in value not defined as investing or financing activity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The net amount paid (received) by the reporting entity through acquisition or sale and maturities of short-term investments with an original maturity that is three months or less which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends to preferred shareholders of the parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash outflow to satisfy grantee's tax withholding obligation for award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash outflow to acquire investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash outflow to acquire investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI), classified as investing activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of distribution received from equity method investee for return of investment, classified as investing activities. Excludes distribution for return on investment, classified as operating activities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash inflow from maturity, prepayment and call of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of cash inflow from sale of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash inflow from sale of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI), classified as investing activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash equivalent restricted as to withdrawal or usage. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|