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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income $ 294,709 $ 273,939
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized investment loss 55 10
Depreciation and amortization 8,564 8,970
Net accretion of discount on investment securities (3,036) (229)
Loss on extinguishment of debt 0 6,966
Amortization of debt discount and debt issuance costs 1,800 1,630
Deferred income taxes 58,159 64,005
Share-based compensation expense 13,968 12,670
Changes in operating assets and liabilities:    
Premiums receivable, net (2,929) (1,998)
Accrued investment income (3,404) (1,849)
Deferred policy acquisition costs, net 135 (898)
Reinsurance recoverable (3,055) (1,700)
Other assets (4,799) (1,619)
Unearned premiums (15,421) (20,703)
Reserve for insurance claims and claim expenses 28,276 11,546
Reinsurance balances, net (131) (601)
Accounts payable and accrued expenses (15,335) 7,644
Net cash provided by operating activities 357,556 357,783
Cash flows from investing activities    
Purchase of short-term investments (149,956) (142,414)
Purchase of fixed-maturity investments, available-for-sale (397,577) (355,894)
Proceeds from maturities of short-term investments 116,700 83,700
Proceeds from maturities and redemptions of fixed-maturity investments, available-for-sale 217,342 166,960
Proceeds from sales of fixed-maturity investments, available-for-sale 19,814 0
Additions to software and equipment (5,133) (5,508)
Net cash used in investing activities (198,810) (253,156)
Cash flows from financing activities    
Proceeds from issuance of common stock related to employee equity plans 2,875 4,281
Taxes paid related to net share settlement of equity awards (10,980) (10,191)
Proceeds from senior unsecured notes 0 419,705
Repayments of senior secured notes 0 (405,080)
Payments of debt issuance costs 0 (7,785)
Repurchases of common stock (74,510) (68,927)
Net cash used in financing activities (82,615) (67,997)
Net increase in cash, cash equivalents and restricted cash 76,131 36,630
Cash, cash equivalents and restricted cash, beginning of period 54,308 96,689
Cash, cash equivalents and restricted cash, end of period 130,439 133,319
Supplemental disclosures of cash flow information    
Interest paid 31,450 0
Income taxes paid $ 32,215 $ 9,387