v3.26.3
Variable Interest Entity (Tables)
9 Months Ended
Sep. 30, 2026
Variable Interest Entity, Measure of Activity [Abstract]  
Summary of Unaudited Financial Information and Unaudited Financial Position

The following table summarizes the assets and liabilities related to the Company’s consolidated VIEs included in the consolidated balance sheets:

 

 

 

September 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Assets

 

 

 

 

 

 

Fixed-maturity securities, available-for-sale, at fair value (amortized cost:
  $
33,664 and $0, respectively, and allowance for credit losses: $0 and $0,
  respectively)

 

$

32,908

 

 

$

—

 

Total investments

 

 

32,908

 

 

 

—

 

Cash and cash equivalents

 

 

177,534

 

 

 

154,156

 

Restricted cash

 

 

654

 

 

 

636

 

Income taxes receivable

 

 

2,612

 

 

 

1,332

 

Deferred income tax assets, net

 

 

423

 

 

 

2,237

 

Premiums receivable, net (allowance: $1,500 and $1,406, respectively)

 

 

11,848

 

 

 

4,549

 

Prepaid reinsurance premium

 

 

589

 

 

 

2,499

 

Reinsurance recoverable, net of allowance for credit losses:

 

 

 

 

 

 

  Paid losses and loss adjustment expenses (allowance: $0 and $0,
    respectively)

 

 

348

 

 

 

26

 

  Unpaid losses and loss adjustment expenses (allowance: $1 and $1,
    respectively)

 

 

1,575

 

 

 

1,573

 

Deferred policy acquisition costs

 

 

10,595

 

 

 

4,464

 

Other assets

 

 

1,155

 

 

 

539

 

   Total assets

 

$

240,241

 

 

$

172,011

 

Liabilities

 

 

 

 

 

 

Losses and loss adjustment expenses

 

$

36,569

 

 

$

24,810

 

Unearned premiums

 

 

95,505

 

 

 

73,086

 

Advance premiums

 

 

5,057

 

 

 

1,817

 

Ceded reinsurance premiums payable

 

 

8,357

 

 

 

933

 

Assumed premiums payable

 

 

361

 

 

 

837

 

Income taxes payable

 

 

1,293

 

 

 

2,857

 

Deferred income tax liabilities, net

 

 

247

 

 

 

127

 

Accrued expenses and other liabilities

 

 

5,982

 

 

 

2,162

 

   Total liabilities

 

$

153,371

 

 

$

106,629