v3.26.3
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues        
Gross written premiums $ 256,429,000 $ 231,515,000 $ 771,064,000 $ 638,724,000
Ceded written premiums (106,554,000) (82,492,000) (299,823,000) (224,079,000)
Net written premiums 149,875,000 149,023,000 471,241,000 414,645,000
Change in net unearned premiums 357,000 (20,616,000) (40,248,000) (57,285,000)
Net earned premiums 150,232,000 128,407,000 430,993,000 357,360,000
Net investment income 20,561,000 15,038,000 57,408,000 41,274,000
Net realized investment losses (14,600) (15,000.0) (46,600) (30,200)
Other insurance-related income 988,000 502,000 2,962,000 1,307,000
Total revenues 171,766,000 143,932,000 491,316,000 399,911,000
Expenses        
Net losses and loss adjustment expenses 101,048,000 84,608,000 289,475,000 236,935,000
Net acquisition costs 16,991,000 12,512,000 46,704,000 33,346,000
Operating expenses 26,963,000 25,837,000 79,149,000 75,623,000
Non-operating expenses 6,856,000 783,000 6,856,000 1,330,000
Warrant expense 792,000 792,000 2,350,000 2,350,000
Interest expense and financing fees 3,204,000 262,000 9,633,000 770,000
Foreign exchange losses 2,000 32,000 9,000 64,000
Total expenses 155,856,000 124,826,000 434,176,000 350,418,000
Income before income taxes 15,910,000 19,106,000 57,140,000 49,493,000
Income tax expense (2,968,000) (3,930,000) (12,050,000) (10,550,000)
Net income 12,942,000 15,176,000 45,090,000 38,943,000
Other comprehensive (loss) income        
Change in unrealized (loss) gain on investments (net of income tax benefit (expense) of $9,964, $(1,407), $13,202, $(4,226), respectively (37,484,000) 5,291,000 (49,666,000) 15,897,000
Total comprehensive (loss) income $ (24,542,000) $ 20,467,000 $ (4,576,000) $ 54,840,000
Earnings per share:        
Basic (in dollars per share) $ 0.39 $ 0.46 $ 1.37 $ 1.19
Diluted (in dollars per share) $ 0.38 $ 0.45 $ 1.33 $ 1.15
Weighted average shares outstanding:        
Basic (in shares) 32,944,249 32,782,300 32,880,107 32,722,642
Diluted (in shares) 34,256,556 33,650,923 33,848,818 33,807,105