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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 (Loss) $ 273,572 $ 126,032
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for depreciation and amortization 9,186 7,481
Deferred income tax expense 3,637 (1,313)
Stock based compensation 8,970 802
Amortization of deferred loan costs 589 0
Gain on sale of investments (6) (9)
Net amortization of premiums on investments in fixed-maturity securities (2,068) (2,432)
Change in value of interest rate swap (26) 44
Purchase of transferable tax credits (65,360) 0
Change in operating assets and liabilities:    
Accrued interest income (1,415) (3,111)
Premiums receivable (46,029) 18,845
Reinsurance recoverable on paid losses (37,041) (735)
Reinsurance recoverable on unpaid losses 133,112 26,383
Prepaid reinsurance premiums (164,636) (162,425)
Prepaid expenses (5,523) (3,748)
Deferred policy acquisition costs (27,287) (31,597)
Other assets 31 (432)
Loss and loss adjustment expense reserves (71,528) 106,994
Unearned premiums 128,115 166,176
Advanced premiums 29,789 24,542
Income taxes payable 56,446 (14,257)
Premium taxes payable (1,233) 9,581
Commissions payable 11,204 5,645
Reinsurance premiums payable 134,237 107,514
Accounts payable and accrued expenses 7,745 13,736
Net lease liability, net 389 (10)
Other liabilities 832 1,775
Net cash provided by operating activities 375,702 395,481
Cash flows from investing activities:    
Purchase of fixed-maturity securities available-for-sale (75,745) (214,602)
Proceeds from maturities and redemptions of fixed-maturity securities available -for-sale 76,950 29,344
Proceeds from redemption of other investments 504 504
Purchase of property and equipment (2,314) (9,318)
Net cash provided by (used in) investing activities (605) (194,072)
Cash flows from financing activities:    
Proceeds from issuance of common stock 1,012 0
Proceeds from issuance of preferred stock stock 0 1
Other financing costs (2,463) 0
Issuance of long term debt 0 40,000
Payment of debt issuance costs (296) (3,692)
Repayment of long-term debt (4,500) (31,081)
Repurchase and retirement of preferred stock 0 (540)
Repurchase and retirement of common stock (20,000) 0
Proceeds from issuance of initial public offering 263,500 0
Net cash provided by financing activities 237,253 4,688
Net increase in cash, cash equivalents and restricted cash 612,350 206,097
Cash, cash equivalents and restricted cash, beginning of period 789,842 442,362
Cash, cash equivalents and restricted cash, end of period 1,402,192 648,459
Cash paid during the year for:    
Interest paid 1,659 2,282
Income taxes paid $ 33,525 $ 58,519