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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net income $ 197,070 $ 117,573 $ 79,201
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation expense 21,013 16,685 14,913
Depreciation and amortization expense 8,927 5,106 4,503
Loss on asset disposal 31 0 0
Net realized and unrealized gains on investments (11,831) (4,568) (2,941)
Amortization of premium on fixed maturity securities (61) (945) (9)
Deferred income tax expense (benefit) 1,874 2,110 (2,826)
Changes in operating assets and liabilities:      
Accrued investment income (2,969) (3,158) (1,505)
Premium receivable (147,066) (43,752) (99,114)
Deferred policy acquisition costs (31,175) (33,891) (4,250)
Reinsurance recoverables (73,542) (118,365) (83,181)
Ceded unearned premiums (79,681) (10,429) (61,724)
Prepaid expenses and other assets 26,210 (15,704) (24,885)
Accounts payable and other accrued liabilities (6,891) 29,178 15,666
Reserve for losses and loss adjustment expenses 178,061 161,107 110,860
Unearned premiums 240,859 144,589 125,789
Ceded premiums payable 81,245 8,426 35,615
Funds held under reinsurance treaty 16,981 14,450 2,739
Income taxes payable 0 (7,255) 7,255
Net proceeds from (purchases of) derivative contracts (9,934) 0 0
Net cash provided by operating activities 409,121 261,157 116,106
Investing activities      
Purchases of property and equipment (137) (243) (15)
Proceeds from sale of property and equipment 346    
Capitalized software costs (6,090) (5,803) (6,744)
Purchases of fixed maturity securities (848,358) (601,410) (233,770)
Purchases of equity securities (55,550) (202) (945)
Purchase of equity method investment 0 0 (3,000)
Sales and maturities of fixed maturity securities 614,616 301,847 120,285
Sales of equity securities 12,956 9,014 295
Change in securities receivable or payable, net (1,025) (1,475) 950
Investments in limited partnerships (11,244) (5,485) 0
Acquisitions, net of cash acquired (58,591) 0 (5,534)
Purchase of policy renewal rights (905) (2,487) 0
Net cash used in investing activities (353,982) (306,244) (128,478)
Financing activities      
Payments on Line of Credit (15,000) (52,600) 0
Proceeds from Line of Credit 15,000 0 16,200
Proceeds from common stock issued via employee stock purchase plan 1,165 902 799
Proceeds from common stock issued via stock option exercises 3,755 6,990 1,237
Policy holder contribution to surplus 3,719 2,758 90
Repurchase of common stock (37,284) 0 (22,266)
Proceeds from stock offering, net of offering costs (141) 115,724 0
Net cash provided by (used in) financing activities (28,786) 73,774 (3,940)
Net increase (decrease) in cash, cash equivalents and restricted cash 26,353 28,687 (16,312)
Cash, cash equivalents and restricted cash at beginning of period 80,539 51,852 68,164
Cash, cash equivalents and restricted cash at end of period 106,892 80,539 51,852
Supplementary cash flow information:      
Cash paid for federal income taxes 57,961 37,810 20,640
Cash paid for state income taxes 1,124 644 484
Cash paid for interest 287 1,048 3,682
Cash and cash equivalents 106,875 80,438  
Restricted cash 17 101  
Cash and cash equivalents and restricted cash $ 106,892 $ 80,539 $ 51,852