| Summary of Financial Instruments Measured at Fair Value on Recurring Basis |
The following tables present the categorization for our financial instruments measured at fair value on a recurring basis at September 30, 2026 and December 31, 2025:
| | | | | | | | | | | | | | | | September 30, 2026 | | Fair Value Measurements | | Description | Total | Level 1 | Level 2 | Level 3 | | Fixed Maturity, Available-for-Sale: | | | | | | US Treasury and government agencies | $ | 91,495 | | $ | 31,064 | | $ | 60,431 | | $ | — | | | | | | | | States, municipalities and political subdivisions | 173,420 | | — | | 173,420 | | — | | | Corporate | 819,339 | | — | | 819,339 | | — | | | Residential mortgage-backed | 762,731 | | — | | 762,731 | | — | | | Commercial mortgage-backed | 164,413 | | — | | 164,413 | | — | | | Other asset-backed | 256,418 | | — | | 256,418 | | — | | | Total Fixed Maturity, Available-for-Sale | $ | 2,267,816 | | $ | 31,064 | | $ | 2,236,752 | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Money Market Accounts | 62,576 | | 62,576 | | — | | — | | | Corporate-Owned Life Insurance | 14,070 | | — | | 14,070 | | — | | | Total Assets Measured at Fair Value | $ | 2,344,462 | | $ | 93,640 | | $ | 2,250,822 | | $ | — | |
| | | | | | | | | | | | | | | | December 31, 2025 | | Fair Value Measurements | | Description | Total | Level 1 | Level 2 | Level 3 | | Fixed Maturity, Available-for-Sale: | | | | | | US Treasury and government agencies | $ | 104,104 | | $ | 26,568 | | $ | 77,536 | | $ | — | | | | | | | | States, municipalities and political subdivisions | 261,734 | | — | | 261,734 | | — | | | Corporate | 783,154 | | — | | 783,154 | | — | | | Residential mortgage-backed | 715,597 | | — | | 715,597 | | — | | | Commercial mortgage-backed | 145,407 | | — | | 145,407 | | — | | | Other asset-backed | 195,354 | | — | | 195,354 | | — | | | Total Fixed Maturity, Available-for-Sale | $ | 2,205,350 | | $ | 26,568 | | $ | 2,178,782 | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Money Market Accounts | 44,751 | | 44,751 | | — | | — | | | Corporate-Owned Life Insurance | 13,462 | | — | | 13,462 | | — | | | Total Assets Measured at Fair Value | $ | 2,263,563 | | $ | 71,319 | | $ | 2,192,244 | | $ | — | |
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| Summary of Financial Instruments Not Carried at Fair Value on Recurring Basis |
The fair value of financial instruments that are not carried at fair value on a recurring basis in the financial statements at September 30, 2026 and December 31, 2025 are summarized below: | | | | | | | | | | | | | | | | | | | September 30, 2026 | | Description | Fair Value Total | Level 1 | Level 2 | Level 3 | Net Asset Value | | Financial assets: | | | | | | | Cash and cash equivalents | $ | 88,165 | | $ | 88,165 | | $ | — | | $ | — | | $ | — | | Other long-term investments(1) | 230,368 | | — | | 1,551 | | — | | 228,817 | | | Mortgage loans | 29,622 | | — | | — | | 29,622 | | — | | | Total | $ | 348,155 | | $ | 88,165 | | $ | 1,551 | | $ | 29,622 | | $ | 228,817 | | | | | | | | | Financial Liabilities: | | | | | | | Long term debt | $ | 130,538 | | $ | — | | $ | 130,538 | | $ | — | | $ | — | | | Total | $ | 130,538 | | $ | — | | $ | 130,538 | | $ | — | | $ | — | | | | | | | |
(1) As a member of Lloyd's, the Company participates in the syndicate results which include the fair value of the investments. The fair value of Lloyd's syndicate investments included in "Other long-term investments" was $125.0 million at September 30, 2026. Also included in "Other long-term investments" on the Consolidated Balance Sheets is our interest in limited liability partnerships with a fair value of $103.8 million at September 30, 2026. | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Description | Fair Value Total | Level 1 | Level 2 | Level 3 | Net Asset Value | | Financial assets: | | | | | | | Cash and cash equivalents | $ | 111,581 | | $ | 111,581 | | $ | — | | $ | — | | $ | — | | Other long-term investments(1) | 228,507 | | — | | 1,409 | | — | | 227,098 | | | Mortgage loans | 30,127 | | — | | — | | 30,127 | | — | | | Total | $ | 370,215 | | $ | 111,581 | | $ | 1,409 | | $ | 30,127 | | $ | 227,098 | | | | | | | | | Financial Liabilities: | | | | | | | Long term debt | $ | 142,319 | | $ | — | | $ | 142,319 | | $ | — | | $ | — | | | Total | $ | 142,319 | | $ | — | | $ | 142,319 | | $ | — | | $ | — | | | | | | | |
(1) As a member of Lloyd's, the Company participates in the syndicate results which include the fair value of the investments. The fair value of Lloyd's syndicate investments included in "Other long-term investments" was $127.9 million at December 31, 2025. Also included in "Other long-term investments" on the Consolidated Balance Sheets is our interest in limited liability partnerships with a fair value of $99.2 million at December 31, 2025.
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