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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Invested Assets [Abstract]    
Fixed-maturity securities, available-for-sale, at estimated fair value (amortized costs: $465,454 and $464,585, respectively and allowance for credit losses: $0 and $0 respectively) $ 474,603 $ 464,966
Other investments, net 4,044 4,548
Total invested assets 478,647 469,514
Cash and cash equivalents 861,558 493,409
Restricted cash 779 631
Restricted cash - variable interest entity 539,855 295,802
Accrued interest income 6,984 5,569
Assumed premiums receivable 0 10,284
Premiums receivable, net of allowance for credit loss of $2,295 and $1,048, respectively 105,713 47,642
Reinsurance recoverable on paid losses net of allowance for credit loss: $0 and $0, respectively 32,197 0
Reinsurance recoverable on unpaid losses net of allowance for credit loss: $0 and $0, respectively 207,939 341,051
Prepaid reinsurance premiums 312,924 148,288
Deferred tax assets 11,436 17,371
Deferred policy acquisition costs 92,333 65,046
Advanced payments of premium tax liability 27 0
Property and equipment, net 12,399 13,578
Right-of-use lease asset, operating 8,913 8,390
Intangibles, net 1,999 7,692
Goodwill 2,603 2,603
Prepaid expenses 9,715 4,192
Other assets 834 865
Total assets 2,686,855 1,931,927
Liabilities:    
Loss and loss adjustment expense reserves 523,959 595,487
Unearned premiums 824,425 696,310
Commissions payable 19,458 8,254
Advanced recoveries on reinsurance 0 4,844
Assumed premiums payable 1,758 0
Deferred revenue 90 90
Reinsurance premiums payable 204,689 70,452
Long-term debt 34,983 39,190
Interest rate swap liability 91 117
Income taxes payable 35,029 43,943
Advanced premiums 41,840 12,051
Premium tax liabilities 0 1,206
Accounts payable and accrued expenses 21,603 13,858
Lease liability, operating 9,975 9,063
Other liabilities 4,735 3,903
Total liabilities 1,722,635 1,498,768
Shareholders' equity:    
Common Stock (par value $0.01, 1,500,000,000 shares authorized, 124,241,773 and 56,224,168 issued and outstanding at September 30, 2025 and December 31, 2024 respectively) 1,242 562
Preferred stock (par value $0.01, 150,000,000 shares authorized, 0 and 51,374,125 issued and outstanding at September 30, 2025 and December 31, 2024, respectively) 514
Additional paid-in capital 373,461 122,607
Accumulated other comprehensive income, net of taxes 6,754 285
Retained earnings 582,763 309,191
Total shareholders' equity 964,220 433,159
Total liabilities and shareholders' equity $ 2,686,855 $ 1,931,927