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Note 24 - Subsequent Events | 12 Months Ended
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Dec. 31, 2025
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | 24. Subsequent Eve nts Credit Agreement On January 27, 2026, the Company entered into a credit agreement providing for unsecured credit facilities totaling $450 million, comprised of a $150 million revolving credit facility and a $300 million term loan, each maturing on January 27, 2031. Borrowings bear interest at Term SOFR or an alternate base rate plus an applicable margin based on the Company’s Debt to Capital Ratio. The term loan amortizes quarterly beginning June 30, 2026. Proceeds may be used for general corporate purposes, permitted acquisitions and refinancing of existing indebtedness. Gray Surety Acquisition On January 3 1, 2026, the Company acquired 100% of the issued and outstanding equity interests of The Gray Casualty & Surety Company (“Gray Surety”) pursuant to an equity purchase agreement for an aggregate purchase price of a pproximately $311 million. The acquisition was funded with proceeds from a term loan entered into in January 2026 and cash on hand. The acquisition was completed to further expand the Company’s surety platform as part of its ongoing strategy to strengthen and diversify its specialty insurance portfolio. Subsequent to the acquisition, the Company renamed Gray Surety to Palomar Casualty & Surety Company (“PCSC”) and will refer to it as such in the future. The acquisition will be accounted for as a business combination in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations, in the period of acquisition. Given the proximity of closing to the issuance of the financial statements, the Company has not completed the initial accounting and will provide additional disclosures required by ASC 805, including those related to the allocation of the purchase price, in future filings as such information becomes available. The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no other events requiring disclosure.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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