v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES    
Net income $ 64,348 $ 26,067
Adjustments to reconcile net income to net cash provided by operating activities 16,592 24,729
Net cash provided by operating activities 80,940 50,796
INVESTING ACTIVITIES    
Purchase of fixed-maturity securities, available-for-sale (232,549) (267,019)
Proceeds from sale of fixed-maturity securities, available-for-sale 161,858 290,208
Proceeds from maturities and redemptions of fixed-maturity securities, available-for-sale 10,626 576
Purchases of Utility & Infrastructure Investments (10,000) (10,000)
Proceeds from redemptions of Utility & Infrastructure Investments 2,077 106,196
Change in short-term investments, net (5,122) (197,577)
Loans to affiliates 0 (94,000)
Purchase of other invested assets (1,561) 0
Change in due to/from broker 4,048 (10,057)
Purchase of property and equipment (1,799) (4,155)
Purchase of other assets 0 (59)
Net cash used in investing activities (72,422) (185,887)
FINANCING ACTIVITIES    
Proceeds from issuance of common shares, net 0 121,710
Payments of initial public offering costs 0 (2,806)
Capital contributions 0 22,741
Payments for share repurchases 0 (2,741)
Treasury stock acquired - share repurchase program (2,835) 0
Capital distribution (2,077) (6,857)
Net cash provided by (used in) financing activities (4,912) 132,047
Net change in cash and cash equivalents 3,606 (3,044)
Cash and cash equivalents, at beginning of period 29,721 26,573
Cash and cash equivalents, at end of period 33,327 23,529
Supplementary cash flow information:    
Cash paid for interest 8 889
Cash paid (received) for taxes 22,468 9,000
Supplementary non-cash investing and financing activities:    
Common stock issued in exchange for U.S. Treasury bills $ 0 $ 20,001