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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Investments:    
Fixed maturity securities available for sale, at fair value (amortized cost: $561,580 in 2022; $426,122 in 2021) $ 515,064 $ 432,682
Equity securities, at fair value (cost: $42,352 in 2022; $31,834 in 2021) 38,576 33,261
Total investments 553,640 465,943
Cash and cash equivalents 68,108 50,284
Restricted cash 56 87
Accrued investment income 3,777 2,725
Premium receivable 162,858 88,012
Deferred policy acquisition costs 56,740 55,953
Reinsurance recoverable on paid losses and loss adjustment expenses 39,718 29,368
Reinsurance recoverable on unpaid losses and loss adjustment expenses 153,895 127,947
Ceded unearned premiums 204,084 58,315
Prepaid expenses and other assets 44,088 37,072
Deferred tax assets, net 10,622  
Property and equipment, net 603 527
Intangible assets, net 8,261 9,501
Total assets 1,306,450 925,734
Liabilities:    
Accounts payable and other accrued liabilities 25,760 21,284
Reserve for losses and loss adjustment expenses 231,415 173,366
Unearned premiums 471,314 284,665
Ceded premium payable 146,127 37,460
Funds held under reinsurance treaty 10,680 10,882
Deferred tax liabilities, net   3,908
Borrowings from credit agreements 36,400  
Total liabilities 921,696 531,565
Stockholders' equity:    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized as of December 31, 2022 and December 31, 2021, 0 shares issued and outstanding as of December 31, 2022 and December 31, 2021
Common stock, $0.0001 par value, 500,000,000 shares authorized, 25,027,467 and 25,428,929 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively 3 3
Additional paid-in capital 333,558 318,902
Accumulated other comprehensive income (loss) (36,515) 5,312
Retained earnings 87,708 69,952
Total stockholders' equity 384,754 394,169
Total liabilities and stockholders' equity $ 1,306,450 $ 925,734