XML 136 R120.htm IDEA: XBRL DOCUMENT v3.25.4
Taxation - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Income tax expense at U.S. federal statutory rate $ 29,228 $ 19,673 $ 9,402
State taxes (5,098) 659 (232)
Tax credits (588)    
Net impact of noncontrolling interest and non-partnership operations on partnership outside basis (2,424) (8,759) 5,000
Other 404    
U.S. tax on foreign insurance income 27,087    
Other 40    
Foreign branch income (2,136)    
Change in valuation allowance (33,280) 3,485 393
Changes in unrecognized tax benefits 123    
Effect of changes in tax laws or rates enacted in the current period 1,109 (4,400) 4,018
Other (628) 431 51
Foreign rate differential   2,407 (529)
Loss (gain) related to warrant liabilities, net   1,794 (2,424)
Permanent items   89 914
Income tax benefit (expense) $ (10,043) $ 15,379 $ 16,593
Percent      
Income tax expense at U.S. federal statutory rate 21.00% 21.00% 21.00%
State taxes (3.70%) 0.70% (0.50%)
Tax credits (0.40%)    
Net impact of noncontrolling interest and non-partnership operations on partnership outside basis (1.70%) (9.30%) 11.20%
Other 0.30%    
U.S. tax on foreign insurance income 19.50%    
Other 0.00%    
Foreign branch income (1.50%)    
Change in valuation allowance (23.90%) 3.70% 0.90%
Changes in unrecognized tax benefits 0.10%    
Effect of changes in tax rates 0.80% (4.70%) 9.00%
Other, net (0.50%) 0.00% 0.00%
Foreign rate differential   2.60% (1.20%)
Loss (gain) related to warrant liabilities, net   1.90% (5.40%)
Permanent items   0.10% 2.00%
Income tax benefit (expense) (7.20%) 16.00% 37.00%
Bermuda:      
Amount      
Statutory tax exemption $ (27,087)    
Percent      
Statutory tax exemption (19.50%)    
Canada      
Amount      
Foreign rate differential $ 1,670    
Percent      
Foreign rate differential 1.20%    
U.K.:      
Amount      
Change in valuation allowance $ 1,931    
Other $ (832)    
Percent      
Change in valuation allowance 1.40%    
Other, net (0.60%)    
Other foreign jurisdictions      
Amount      
Other $ 438    
Percent      
Other, net 0.30%