| Schedule of Investments Measured at Fair Value By Level |
The following table presents the Company’s investments measured at fair value by level: | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of September 30, 2026 | | Level 1 | | Level 2 | | Level 3 | | Total | | | ($ in thousands) | Fixed maturity securities | | | | | | | | | | U.S. government and government agency | | $ | 30,008 | | | $ | 17,451 | | | $ | — | | | $ | 47,459 | | | State and municipal | | — | | | 202,747 | | | — | | | 202,747 | | | Commercial mortgage-backed securities | | — | | | 165,357 | | | — | | | 165,357 | | | Residential mortgage-backed securities | | — | | | 311,705 | | | — | | | 311,705 | | | Asset-backed securities | | — | | | 221,178 | | | — | | | 221,178 | | | Corporate | | — | | | 674,445 | | | — | | | 674,445 | | | | | | | | | | | | | | | | | | | | Total investments | | $ | 30,008 | | | $ | 1,592,883 | | | $ | — | | | $ | 1,622,891 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2025 | | Level 1 | | Level 2 | | Level 3 | | Total | | | ($ in thousands) | Fixed maturity securities | | | | | | | | | | U.S. government and government agency | | $ | 80,368 | | | $ | — | | | $ | — | | | $ | 80,368 | | | State and municipal | | — | | | 129,278 | | | — | | | 129,278 | | | Commercial mortgage-backed securities | | — | | | 171,322 | | | — | | | 171,322 | | | Residential mortgage-backed securities | | — | | | 318,561 | | | — | | | 318,561 | | | Asset-backed securities | | — | | | 169,004 | | | — | | | 169,004 | | | Corporate | | — | | | 502,473 | | | — | | | 502,473 | | | | | | | | | | | | | | | | | | | | Total investments | | $ | 80,368 | | | $ | 1,290,638 | | | $ | — | | | $ | 1,371,006 | |
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