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INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cost or Amortized Cost and Fair Value of Securities Available for Sale
The following table provides the amortized cost and fair value of available-for-sale debt securities as of the dates presented (in thousands):
December 31, 2024
Amortized
Cost		Allowance for Expected Credit LossesGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Debt Securities:
U.S. government obligations and agencies$20,284 $— $35 $(572)$19,747 
Corporate bonds920,337 (894)1,580 (52,075)868,948 
Mortgage-backed and asset-backed securities387,538 — 1,041 (31,549)357,030 
Municipal bonds15,893 (3)— (1,536)14,354 
Redeemable preferred stock9,480 (121)23 (382)9,000 
Total$1,353,532 $(1,018)$2,679 $(86,114)$1,269,079 

December 31, 2023
Amortized
Cost		Allowance for Expected Credit LossesGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Debt Securities:
U.S. government obligations and agencies$23,886 $— $49 $(677)$23,258 
Corporate bonds779,177 (469)1,097 (64,091)715,714 
Mortgage-backed and asset-backed securities334,460 — 969 (32,283)303,146 
Municipal bonds15,916 (4)— (1,873)14,039 
Redeemable preferred stock9,480 (93)— (1,214)8,173 
Total$1,162,919 $(566)$2,115 $(100,138)$1,064,330 
Schedule of Credit Quality of Investment Securities
The following table provides the credit quality of available-for-sale debt securities with contractual maturities as of the dates presented (dollars in thousands):
December 31, 2024December 31, 2023
% of Total% of Total
Average Credit RatingsFair ValueFair ValueFair ValueFair Value
AAA$378,732 29.9 %$333,516 31.3 %
AA146,456 11.5 %128,249 12.0 %
A425,503 33.5 %356,090 33.5 %
BBB313,265 24.7 %245,823 23.1 %
No Rating Available5,123 0.4 %652 0.1 %
Total$1,269,079 100.0 %$1,064,330 100.0 %
Schedule of Amortized Cost and Fair Value on Mortgage-Backed and Asset-Backed Securities
The following table summarizes the amortized cost and fair value of mortgage-backed and asset-backed securities as of the dates presented (in thousands):
December 31, 2024December 31, 2023
Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Mortgage-backed securities:
Agency$194,400 $171,531 $165,507 $145,686 
Non-agency58,722 51,940 63,729 55,102 
Asset-backed securities:
Auto loan receivables60,087 60,326 53,686 52,869 
Credit card receivables9,702 9,769 3,414 3,428 
Other receivables64,627 63,464 48,124 46,061 
Total$387,538 $357,030 $334,460 $303,146 
Schedule of Fair Value and Gross Unrealized Losses on Securities Available for Sale
The following tables summarize available-for-sale debt securities, aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position, for which no allowance for expected credit losses has been recorded as of the dates presented (in thousands):
December 31, 2024
Less Than 12 Months12 Months or Longer
Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Debt Securities:
U.S. government obligations and agencies$12,962 $(193)$2,727 $(379)
Corporate bonds44,049 (1,780)283,877 (25,336)
Mortgage-backed and asset-backed securities64,516 (1,567)179,865 (29,935)
Municipal bonds1,244 (53)9,624 (1,099)
Redeemable preferred stock— — 825 (84)
Total$122,771 $(3,593)$476,918 $(56,833)
December 31, 2023
Less Than 12 Months12 Months or Longer
Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Debt Securities:
U.S. government obligations and agencies$9,045 $(108)$6,811 $(569)
Corporate bonds1,387 (9)365,893 (37,088)
Mortgage-backed and asset-backed securities18,150 (316)216,220 (31,967)
Municipal bonds293 (1)7,010 (1,069)
Redeemable preferred stock529 (30)1,052 (158)
Total$29,404 $(464)$596,986 $(70,851)
Schedule of Debt Securities, Available-for-sale, Allowance for Credit Loss
The table of expected credit losses below presents the beginning and ending balances, along with the provision for or reversal of credit loss expenses, categorized by security type. This information pertains to available-for-sale debt securities that are in an unrealized loss position, necessitating a credit allowance (in thousands):
Corporate BondsMunicipal BondsRedeemable
 Preferred Stock
Total Expected Credit Losses
Balance, December 31, 2022
$729 $2 $189 $920 
 Provision for (or reversal of) credit loss expense
(260)2 (96)(354)
Balance, December 31, 2023
469 4 93 566 
 Provision for (or reversal of) credit loss expense
425 (1)28 452 
Balance, December 31, 2024
$894 $3 $121 $1,018 
Schedule of Amortized Cost and Fair Value of Investments With Contractual Maturities
The following table presents the amortized cost and fair value of investments with maturities as of the date presented (in thousands): 
December 31, 2024
Amortized CostFair Value
Due in one year or less$158,437 $156,618 
Due after one year through five years714,196 686,113 
Due after five years through ten years446,710 396,986 
Due after ten years30,687 25,987 
Perpetual maturity securities3,502 3,375 
Total$1,353,532 $1,269,079 
Schedule of Securities Available for Sale
The following table provides certain information related to available-for-sale debt securities and equity securities, during the periods presented (in thousands):
Years Ended December 31,
202420232022
Proceeds from sales and maturities (fair value):
Available-for-sale debt securities
$156,210 $128,304 $98,409 
Equity securities$13,854 $45,095 $34,178 
Gross realized gains on sale of securities:
Available-for-sale debt securities
$704 $36 $242 
Equity securities$1,347 $1,744 $2,240 
Gross realized losses on sale of securities:
Available-for-sale debt securities$(1,499)$(1,527)$(2,060)
Equity securities$(1,867)$(1,482)$(74)
Schedule of Investment Income (Expense) Comprised Primarily of Interest and Dividends
The following table presents the components of net investment income, comprised primarily of interest and dividends, for the periods presented (in thousands):
Years Ended December 31,
202420232022
Available-for-sale debt securities$35,428 $24,793 $18,699 
Equity securities3,647 4,019 3,288 
Cash and cash equivalents (1)22,185 21,448 5,945 
Other (2)569 523 492 
Total investment income61,829 50,783 28,424 
Less: Investment expenses (3)(2,681)(2,334)(2,639)
Net investment income$59,148 $48,449 $25,785 
(1)Includes interest earned on restricted cash and cash equivalents.
(2)Includes investment income earned on real estate investments.
(3)Includes custodial fees, investment accounting and advisory fees, and expenses associated with real estate investments.
Schedule of Details on Unrealized Gains and Losses Related to Equity Securities
The following table provides the unrealized gains and (losses) recognized for the periods presented on equity securities still held at the end of the reported period (in thousands):
Years Ended December 31,
202420232022
Unrealized gains (losses) recognized during the reported period
   on equity securities still held at the end of the reported period		$7,194 $3,723 $(13,197)
The following table provides the unrealized gains (losses) recognized for the periods presented on investment in private equity limited partnership still held at the end of the reported period (in thousands):
Years Ended December 31,
202420232022
Unrealized gains (losses) recognized during the reported period on investment in private equity limited partnership reported at fair value still held at the end of the reported period
$1,768 $5,640 $— 
Unrealized gains (losses) recognized during the reported period on investments in private equity limited partnerships reported at net asset value still held at the end of the reported period
(79)— — 
Total unrealized gains (losses) recognized during the reported period on investments in private equity limited partnerships still held at the end of the reported period
$1,689 $5,640 $— 
Schedule of Real Estate Investment
Investment real estate consisted of the following as of the dates presented (in thousands):
As of December 31,
20242023
Income Producing:
Investment real estate$10,102 $7,097 
Less: Accumulated depreciation(1,780)(1,572)
Investment real estate, net$8,322 $5,525 
Schedule of Depreciation Expense Related to Investment Real Estate
The following table provides the depreciation expense related to investment real estate for the periods presented (in thousands):
Years Ended December 31,
202420232022
Depreciation expense on investment real estate$208 $186 $186 
Schedule of Fair Value of the Other Investments Reported at Net Asset Value
The fair value of the other investments reported at net asset value consisted of the following as of the date presented (in thousands):
As of December 31, 2024
Fair Value
Unfunded Commitments
Redemption Frequency (if Currently Eligible)
Redemption Notice Period
Investments in private equity limited partnerships - Net Asset Value (a)
$3,921 $— 
N/A
N/A
Total$3,921 $— 
(a)This class includes private equity funds that invest in cybersecurity companies are subject to a contractual restriction on the transfer or sale by the Company prior to liquidation or dissolution of the partnership agreement by the general partner. Distributions are received through liquidation of the underlying assets of the fund. The fair value of these assets have been estimated using the net asset value (NAV) per share of investments. It is estimated that these investments will be liquidated over 4 to 9 years.
Schedule of Other Investments
Other investments consisted of the following as of the dates presented (in thousands):
As of December 31,
20242023
Investments in private equity limited partnerships reported at fair value
$12,202 $10,434 
Investments in private equity limited partnerships reported at net asset value
3,921—
Total Investments in private equity limited partnerships
$16,123 $10,434