v3.26.1
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
REVENUES:    
Gross written premiums $ 398,910 $ 394,259
Ceded written premiums (95,420) (116,001)
Net written premiums 303,490 278,258
Net change in unearned premiums (67,313) (50,462)
Net premiums earned 236,177 227,796
Investment income 28,573 27,546
Net realized gain on investments 255 1,534
Net unrealized gain on investments 2,008 3,277
Change in allowance for expected credit losses on investments 72 253
Net investment income 30,908 32,610
Other revenues 2,063 1,500
Total revenues 269,148 261,906
EXPENSES:    
Net loss and loss adjustment expenses (127,145) (123,796)
Net policy acquisition expenses (41,846) (41,025)
General and administrative expenses (49,029) (45,790)
Change in allowance for expected credit losses on receivables (452) (1,784)
Other expenses (4,411) (3,350)
Net foreign exchange (loss) gain (3,371) 17,263
Total expenses (226,254) (198,482)
Income before taxes 42,894 63,424
Income tax expense (369) (1,978)
Net income $ 42,525 $ 61,446
Earnings per share    
Basic earnings per share attributable to equity holders (in USD per share) $ 0.99 $ 1.37
Diluted earnings per share attributable to equity holders (in USD per share) $ 0.98 $ 1.36