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Fair Value of Financial Assets and Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets Carried at Estimated Fair Value Measured on a Recurring Basis | The following table presents by level the financial assets carried at estimated fair value measured on a recurring basis as of September 30, 2025 and December 31, 2024. The table does not include assets which are measured at historical cost or any basis other than estimated fair value.
|  | September 30, 2025 |
|  | Carrying Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Estimated Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 861,558 |  |  | $ | 861,558 |  |  | $ | — |  |  | $ | — |  |  | $ | 861,558 |
Restricted cash |  |  | 779 |  |  |  | 779 |  |  |  | — |  |  |  | — |  |  |  | 779 |
Restricted cash - variable interest entity |  |  | 539,855 |  |  |  | 539,855 |  |  |  | — |  |  |  | — |  |  |  | 539,855 |
Fixed-maturity securities |  |  | 465,454 |  |  |  | 277,789 |  |  |  | 196,814 |  |  |  | — |  |  |  | 474,603 |
|  | $ | 1,867,646 |  |  | $ | 1,679,981 |  |  | $ | 196,814 |  |  | $ | — |  |  | $ | 1,876,795 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  | $ | 91 |  |  | $ | — |  |  | $ | — |  |  | $ | 91 |  |  | $ | 91 |
|  | December 31, 2024 |
|  | Carrying Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Estimated Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 493,409 |  |  | $ | 493,409 |  |  | $ | — |  |  | $ | — |  |  | $ | 493,409 |
Restricted cash |  |  | 631 |  |  |  | 631 |  |  |  | — |  |  |  | — |  |  |  | 631 |
Restricted cash - variable interest entity |  |  | 295,802 |  |  |  | 295,802 |  |  |  | — |  |  |  | — |  |  |  | 295,802 |
Fixed-maturity securities |  |  | 464,585 |  |  |  | 323,749 |  |  |  | 141,217 |  |  |  | — |  |  |  | 464,966 |
|  | $ | 1,254,427 |  |  | $ | 1,113,591 |  |  | $ | 141,217 |  |  | $ | — |  |  | $ | 1,254,808 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  | $ | 117 |  |  | $ | — |  |  | $ | — |  |  | $ | 117 |  |  | $ | 117 |
Schedule of Long-Term Debt and Methods and Estimating Fair Values | The following table summarizes components of the Company’s long-term debt and methods used in estimating their fair values:
|  | Maturity Date |  | Valuation Methodology
Promissory Notes, 0.00% |  | 2027 |  | Discounted cash flow method, Level 3 inputs
Commercial Loan, variable rate of interest |  | 2029 |  | Discounted cash flow method, Level 3 inputs
Schedule of Fair Value Information for Liabilities Carried Balance Sheets | The following tables present fair value information for liabilities that are carried on the consolidated balance sheets at amounts other than fair value as of September 30, 2025 and December 31, 2024:
|  | Fair Value Measurements Using |
As of September 30, 2025 |  | Carrying Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Estimated Fair Value |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-Term debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
0.00% Promissory notes |  | $ | 3,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,771 |  |  | $ | 2,771 |
Commercial Loan |  |  | 35,000 |  |  |  | — |  |  |  | — |  |  |  | 32,017 |  |  |  | 32,017 |
Less: unamortized issuance costs |  |  | (3,017 | ) |  |  | — |  |  |  | — |  |  |  | (3,017 | ) |  |  | (3,017 | )
|  | $ | 34,983 |  |  | $ | — |  |  | $ | — |  |  | $ | 31,771 |  |  | $ | 31,771 |
|  | Fair Value Measurements Using |
As of December 31, 2024 |  | Carrying Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Estimated Fair Value |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-Term debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
0.00% Promissory notes |  | $ | 4,500 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,992 |  |  | $ | 3,992 |
Commercial Loan |  |  | 38,000 |  |  |  | — |  |  |  | — |  |  |  | 37,192 |  |  |  | 37,192 |
Less: unamortized issuance costs |  |  | (3,310 | ) |  |  | — |  |  |  | — |  |  |  | (3,310 | ) |  |  | (3,310 | )
|  | $ | 39,190 |  |  | $ | — |  |  | $ | — |  |  | $ | 37,874 |  |  | $ | 37,874 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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