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Note 7 - Underwriting Information

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

7. Underwriting Information

The Company has a single reportable segment and offers specialty insurance products. Gross written premiums (“GWP”) by product are presented below:

		Three Months Ended September 30,																Nine Months Ended September 30,
		2025								2024								2025								2024
		($ in thousands)																($ in thousands)
						% of								% of								% of								% of
		Amount				GWP				Amount				GWP				Amount				GWP				Amount				GWP
Product
Casualty		$	152,034				25.5	%		$	56,307				13.6	%		$	392,473				25.6	%		$	166,762				14.3	%
Earthquake			149,940				25.1	%			135,329				32.6	%			427,869				27.9	%			376,088				32.2	%
Crop			119,757				20.1	%			59,662				14.4	%			207,440				13.5	%			100,571				8.6	%
Inland Marine and Other Property			117,871				19.7	%			78,734				19.0	%			335,462				21.8	%			249,147				21.3	%
Fronting			57,569				9.6	%			84,945				20.4	%			172,379				11.2	%			275,671				23.6	%
Total Gross Written Premiums		$	597,171				100.0	%		$	414,977				100.0	%		$	1,535,623				100.0	%		$	1,168,239				100.0	%

Gross written premiums by state are as follows:

		Three Months Ended September 30,																Nine Months Ended September 30,
		2025								2024								2025								2024
		($ in thousands)																($ in thousands)
						% of								% of								% of								% of
		Amount				GWP				Amount				GWP				Amount				GWP				Amount				GWP
State
California		$	168,739				28.3	%		$	170,265				41.0	%		$	472,276				30.8	%		$	510,879				43.7	%
Texas			38,609				6.5	%			27,019				6.5	%			119,308				7.8	%			96,414				8.3	%
Hawaii			26,405				4.4	%			23,171				5.6	%			71,307				4.6	%			53,922				4.6	%
Florida			23,770				4.0	%			14,433				3.5	%			66,391				4.3	%			58,153				5.0	%
Illinois			20,911				3.5	%			5,557				1.3	%			39,548				2.6	%			13,725				1.2	%
North Dakota			20,022				3.4	%			18,716				4.5	%			23,709				1.5	%			19,893				1.7	%
New York			19,181				3.2	%			8,153				2.0	%			51,240				3.3	%			24,163				2.1	%
Washington			17,560				2.9	%			16,828				4.1	%			50,416				3.3	%			41,893				3.6	%
Other			261,974				43.8	%			130,835				31.5	%			641,428				41.8	%			349,197				29.8	%
Total Gross Written Premiums		$	597,171				100.0	%		$	414,977				100.0	%		$	1,535,623				100.0	%		$	1,168,239				100.0	%

Gross written premiums by insurance subsidiary are as follows:

		Three Months Ended September 30,																Nine Months Ended September 30,
		2025								2024								2025								2024
		($ in thousands)																($ in thousands)
						% of								% of								% of								% of
		Amount				GWP				Amount				GWP				Amount				GWP				Amount				GWP
Subsidiary
PSIC		$	317,177				53.1	%		$	236,624				57.0	%		$	781,078				50.9	%		$	652,988				55.9	%
PESIC			252,318				42.3	%			159,305				38.4	%			681,048				44.4	%			472,909				40.5	%
Laulima			22,804				3.8	%			19,048				4.6	%			58,974				3.8	%			42,342				3.6	%
FIA			4,872				0.8	%			—				—	%			14,523				0.9	%			—				—	%
Total Gross Written Premiums		$	597,171				100.0	%		$	414,977				100.0	%		$	1,535,623				100.0	%		$	1,168,239				100.0	%

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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