Financial instruments measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025, are summarized below by level within the fair value hierarchy.


	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
June 30, 2026	(in thousands)
Assets
Fixed-maturity securities, available-for-sale:
U.S. Treasury securities and obligations guaranteed by the U.S. Government	$	—	$	9,246	$	—	$	9,246
Corporate	—		602,068		—		602,068

Total fixed-maturity securities, available-for-sale	—		611,314		—		611,314
Equity securities (1)	—		1,613		—		1,613
Total assets	$	—	$	612,927	$	—	$	612,927






(1) Included in other invested assets in the condensed consolidated balance sheets.


	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
December 31, 2025	(in thousands)
Assets
Fixed-maturity securities, available-for-sale:
U.S. Treasury securities and obligations guaranteed by the U.S. Government	$	—	$	2,117	$	—	$	2,117
Corporate	—		556,311		—		556,311

Total fixed-maturity securities, available-for-sale	—		558,428		—		558,428
Total assets	$	—	$	558,428	$	—	$	558,428