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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows From Operating Activities      
Net income (loss) $ 118,191 $ 61,957 $ (29,700)
Adjustments to reconcile net income to net cash provided by operating activities      
Net accretion of bond premium 1,550 4,531 7,092
Depreciation and amortization 10,770 10,904 10,508
Stock-based compensation expense 9,029 5,517 3,246
Net investment (gains) losses 4,281 5,901 (1,547)
Net cash flows from trading investments 0 56,381 116,080
Deferred income tax benefit (5,653) (8,392) (8,308)
Changes in:      
Accrued investment income (2,448) 139 (1,454)
Premiums receivable (47,119) 13,990 (99,062)
Deferred policy acquisition costs (10,960) (20,692) (22,307)
Reinsurance receivables (7,680) (7,559) (52,316)
Prepaid reinsurance premiums 12,535 (17,210) (16,382)
Income taxes receivable 13,649 7,282 9,955
Other assets 5,099 (2,277) (34,403)
Losses, claims and loss settlement expenses 128,044 158,027 141,481
Unearned premium 38,762 72,064 74,996
Accrued expenses and other liabilities (2,128) 1,432 70,956
Other, net 3,821 (1,691) 2,901
Net cash provided by (used in) operating activities 269,743 340,304 171,736
Cash Flows From Investing Activities      
Proceeds from sale of available-for-sale investments 121,054 491,771 77,388
Proceeds from call and maturity of available-for-sale investments 258,769 178,805 80,081
Proceeds from short-term and other investments 14,628 9,381 4,615
Purchase of available-for-sale investments (660,233) (872,850) (273,081)
Purchase of mortgage loans 0 0 (8,137)
Purchase of short-term and other investments (53,735) (87,724) (19,866)
Net purchases and sales of property and equipment (6,446) (11,870) (10,886)
Net cash provided by (used in) investing activities (325,963) (292,487) (149,886)
Cash Flows From Financing Activities      
Debt note issuance 30,000 70,000 0
Debt note issuance costs (1,098) (3,050) 0
Payment of cash dividends (16,306) (16,212) (16,164)
Issuance of common stock (993) 348 (290)
Net cash provided by (used in) financing activities 11,603 51,086 (16,454)
Net Change in Cash and Cash Equivalents (44,617) 98,903 5,396
Cash and Cash Equivalents at Beginning of Year 200,949 102,046 96,650
Cash and Cash Equivalents at End of Year 156,332 200,949 102,046
Supplemental disclosures of cash flow information      
Income taxes paid (refunded) 23,551 16,112 1,348
Interest paid $ 11,267 $ 7,172 $ 3,260