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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Investments:    
Fixed maturity securities available for sale, at fair value (amortized cost: $1,130,737 in 2025; $973,330 in 2024) $ 1,113,366 $ 939,046
Equity securities, at fair value (cost: $38,486 in 2025; $32,987 in 2024) 49,222 40,529
Equity method investment 0 2,277
Other investments 12,405 5,863
Total investments 1,174,993 987,715
Cash and cash equivalents 81,297 80,438
Restricted cash 18 101
Accrued investment income 10,180 8,440
Premiums receivable 490,240 305,724
Deferred policy acquisition costs, net of ceding commissions and fronting fees 116,356 94,881
Reinsurance recoverable on paid losses and loss adjustment expenses 37,397 47,076
Reinsurance recoverable on unpaid losses and loss adjustment expenses 399,471 348,083
Ceded unearned premiums 332,970 276,237
Prepaid expenses and other assets 120,740 91,086
Deferred tax assets, net 3,063 8,768
Property and equipment, net 2,929 429
Goodwill and intangible assets, net 62,837 13,242
Total assets 2,832,491 2,262,220
Liabilities:    
Accounts payable and other accrued liabilities 153,760 70,079
Reserve for losses and loss adjustment expenses 598,656 503,382
Unearned premiums 900,987 741,692
Ceded premium payable 293,967 190,168
Funds held under reinsurance treaty 37,914 27,869
Income taxes payable 10 0
Total liabilities 1,985,294 1,533,190
Stockholders' equity:    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.0001 par value, 500,000,000 shares authorized, 26,777,198 and 26,529,402 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 3 3
Additional paid-in capital 509,161 493,656
Accumulated other comprehensive loss (13,633) (26,845)
Retained earnings 351,666 262,216
Total stockholders' equity 847,197 729,030
Total liabilities and stockholders' equity $ 2,832,491 $ 2,262,220