Note 22 - Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2026

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

(in thousands)		September 30, 2026
		Fair Value Measurements at the End of the Reporting Period Using

						Quoted Prices in				Significant				Significant
						Active Markets for				Other Observable				Unobservable
						Identical Assets				Inputs				Inputs
		Total				(Level 1)				(Level 2)				(Level 3)
Recurring fair value measurements:

Assets:
Fixed maturities:
U.S. government, government agencies and authorities		$	13,618			$	—			$	13,618			$	—
States, municipalities and political subdivisions			920				—				920				—
Mortgage-backed			11,383				—				11,383				—
Asset-backed			1,628				—				1,628				—
Corporate			11,387				—				11,387				—
Total fixed maturities			38,936				—				38,936				—
Limited liability investment, at fair value			3,232				—				—				3,232
Total assets		$	42,168			$	—			$	38,936			$	3,232

Liabilities:
Subordinated debt		$	13,309			$	—			$	13,309			$	—
Contingent consideration			980				—				—				980
Seller phantom equity awards			3,328				—				—				3,328
Total liabilities		$	17,617			$	—			$	13,309			$	4,308

(in thousands)		December 31, 2025
		Fair Value Measurements at the End of the Reporting Period Using

						Quoted Prices in				Significant				Significant
						Active Markets for				Other Observable				Unobservable
						Identical Assets				Inputs				Inputs
		Total				(Level 1)				(Level 2)				(Level 3)
Recurring fair value measurements:

Assets:
Fixed maturities:
U.S. government, government agencies and authorities		$	13,491			$	—			$	13,491			$	—
States municipalities and political subdivisions			1,771				—				1,771				—
Mortgage-backed			9,818				—				9,818				—
Asset-backed			1,364				—				1,364				—
Corporate			10,321				—				10,321				—
Total fixed maturities			36,765				—				36,765				—
Limited liability investment, at fair value			3,476				—				—				3,476
Total assets		$	40,241			$	—			$	36,765			$	3,476

Liabilities:
Subordinated debt		$	13,698			$	—			$	13,698			$	—
Contingent consideration			980				—				—				980
Seller phantom equity awards			3,328				—				—				3,328
Total liabilities		$	18,006			$	—			$	13,698			$	4,308

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

(in thousands)		Three months ended September 30,								Nine months ended September 30,
		2026				2025				2026				2025
Assets:
Limited liability investment, at fair value:
Beginning balance		$	4,127			$	3,037			$	3,476			$	2,859
Distributions received			(11	)			(34	)			(1,358	)			(129	)
Realized (losses) gains included in net loss			(266	)			34				1,063				129
Change in fair value of limited liability investment, at fair value included in net loss			(618	)			111				51				289
Ending balance		$	3,232			$	3,148			$	3,232			$	3,148
Unrealized gains on limited liability investments, at fair value held at end of period:
Included in net loss		$	(618	)		$	111			$	51			$	289
Included in other comprehensive (loss) income		$	—			$	—			$	—			$	—
Ending balance - assets		$	3,232			$	3,148			$	3,232			$	3,148
Liabilities:
Contingent consideration:
Beginning balance		$	980			$	—			$	980			$	2,725
Issuance of contingent consideration in connection with acquisitions			—				980				—				980
Settlements of contingent consideration liabilities			—				—				—				(2,725	)
Change in fair value of contingent consideration included in net loss			—				—				—				—
Ending balance		$	980			$	980			$	980			$	980
Unrealized gains recognized on contingent consideration liability held at end of period:
Seller phantom equity awards:
Beginning balance		$	3,328			$	—			$	3,328			$	—
Issuance of seller phantom equity awards in connection with acquisition			—				3,328				—				3,328
Change in fair value of seller phantom equity award liability included in net loss			—				—				—				—
Ending balance		$	3,328			$	3,328			$	3,328			$	3,328
Ending balance - liabilities		$	4,308			$	4,308			$	4,308			$	4,308

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

		*Fair Value*
Categories			*(in thousands)*		*Valuation Techniques*	*Unobservable Inputs*			*Input Value(s)*
Limited liability investment, at fair value		$	3,232		Market approach	Valuation multiples		1.0x - 9.0x
Contingent consideration		$	980		Option-based income approach	Discount rate		14.0%-17.0%
						Risk-free rate		3.64%-3.67%
						Expected volatility		28.0		%
Seller phantom equity awards		$	3,328		Market approach	Internal rate of return		19.7		%

		*Fair Value*
Categories			*(in thousands)*		*Valuation Techniques*	*Unobservable Inputs*			*Input Value(s)*
Limited liability investment, at fair value		$	3,476		Market approach	Valuation multiples		1.0x - 9.0x
Contingent consideration		$	980		Option-based income approach	Discount rate			14.0%-17.0%
						Risk-free rate			3.64%-3.67%
						Expected volatility			28.0	%
Seller phantom equity awards		$	3,328		Market approach	Internal rate of return			19.7	%

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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