Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Revenues: | ||||||
| Gross premiums written | $ 326,592 | $ 286,995 | $ 546,596 | $ 499,145 | ||
| Change in gross unearned premiums | (84,341) | (63,255) | (73,573) | (65,249) | ||
| Gross premiums earned | 242,251 | 223,740 | 473,023 | 433,896 | ||
| Ceded premiums earned | (137,555) | (157,571) | (286,119) | (302,325) | ||
| Net premiums earned | 104,696 | 66,169 | 186,904 | 131,571 | ||
| Policy fees | 3,711 | 2,967 | 6,456 | 5,171 | ||
| Net investment income | 6,250 | 4,780 | 11,902 | 8,883 | ||
| Net realized gains (losses) on investments | (2) | 485 | 51 | 501 | ||
| Other income | 516 | 98 | 789 | 259 | ||
| Total revenues | 115,171 | 74,499 | 206,102 | 146,385 | ||
| Expenses: | ||||||
| Losses and loss adjustment expenses, net | 33,151 | 21,189 | 64,876 | 42,051 | ||
| Policy acquisition expenses | 17,410 | 6,281 | 33,395 | 9,388 | ||
| General and administrative expenses | 18,186 | 22,932 | 34,152 | 27,940 | ||
| Total expenses | 68,747 | 50,402 | 132,423 | 79,379 | ||
| Income before income taxes | 46,424 | 24,097 | 73,679 | 67,006 | ||
| Income tax (benefit) expense | 12,278 | (3,397) | 19,623 | 1,416 | ||
| Net income | 34,146 | 27,494 | 54,056 | 65,590 | ||
| Other comprehensive income (loss): | ||||||
| Unrealized holding gains (losses) on available-for-sale securities, net of taxes | (605) | 1,231 | (2,311) | 1,688 | ||
| Reclassification adjustment for net realized gains (losses), net of taxes | 1 | (362) | (37) | (374) | ||
| Total other comprehensive income (loss) | (604) | 869 | (2,348) | 1,314 | ||
| Comprehensive income | $ 33,542 | $ 28,363 | $ 51,708 | $ 66,904 | ||
| Earnings per share | ||||||
| Basic earnings per share (in dollars per share) | [1] | $ 1.74 | $ 1.62 | $ 2.76 | $ 4.18 | |
| Diluted earnings per share (in dollars per share) | [1] | $ 1.74 | $ 1.62 | $ 2.76 | $ 4.18 | |
| Weighted average shares outstanding - Basic (in shares) | [1] | 19,586,994 | 16,962,075 | 19,583,036 | 15,152,075 | |
| Weighted average shares outstanding - Diluted (in shares) | [1] | 19,590,448 | 16,962,075 | 19,584,870 | 15,152,075 | |
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- Definition Gross Premium Earned No definition available.
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- Definition Policy Acquisition Expenses No definition available.
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- Definition Policy Fees Income No definition available.
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- Definition The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of earned premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of decrease (increase) in unearned premiums. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount after tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after tax and before adjustment, of unrealized holding gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Excludes unrealized gain (loss) on investment in debt security measured at amortized cost (held-to-maturity) from transfer to available-for-sale. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of direct and assumed premiums written. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of realized gain (loss) on investment. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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