v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Fixed maturities, available-for-sale, at fair value (amortized cost of $346,989 and $327,910, respectively) $ 346,427 $ 330,489
Short-term investments (amortized cost of $4,739 and $18,121, respectively) 4,738 18,121
Total investments 351,165 348,610
Cash and cash equivalents 288,453 203,902
Restricted cash and cash equivalents 55,419 40,217
Premiums receivable, net 59,104 45,031
Accrued investment income 3,163 3,458
Prepaid reinsurance premiums 519,574 275,093
Income taxes recoverable 1,545 0
Reinsurance recoverable, net 247,916 269,056
Deferred policy acquisition costs, net 22,414 5,127
Property and equipment, net  8,951 5,718
Right-of-use assets – operating leases  38,452 449
Deferred income tax asset, net 5,116 8,636
Other assets 11,009 24,904
Total assets 1,612,281 1,230,201
Liabilities:    
Unpaid losses and loss adjustment expenses 254,178 266,591
Income tax payable 0 2,680
Unearned premiums 555,130 481,557
Reinsurance payable 341,609 96,555
Advance premiums 21,847 11,752
Long-term debt 412 618
Lease liabilities – operating leases  33,065 458
Other liabilities and accrued expenses 36,521 32,968
Total liabilities 1,242,762 893,179
Shareholders' equity    
Common stock, $0.001 par value, 100,000,000 shares authorized, 19,593,427 shares issued and outstanding at June 30, 2026 and 19,579,009 shares issued and outstanding at December 31, 2025 20 20
Additional paid-in capital 106,656 105,896
Accumulated other comprehensive income (loss), net of taxes (420) 1,928
Retained earnings 263,263 229,178
Total shareholders’ equity 369,519 337,022
Total liabilities and shareholders’ equity $ 1,612,281 $ 1,230,201