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Discontinued Operations and Disposal Groups (Tables)
 3 Months Ended
Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Assets & Liabilities The results from discontinued operations for the three months ended March 31, 2023 and 2022 are presented below.
Results From Discontinued Operations
Three Months Ended March 31,
20232022
REVENUE:
Gross premiums written$(120,608)$146,828 
Change in gross unearned premiums198,154 59,726 
Gross premiums earned77,546 206,554 
Ceded premiums earned(48,203)(163,443)
Net premiums earned29,343 43,111 
Net investment income2,182 1,075 
Net realized investment gains (losses)1,343 (1,806)
Net unrealized gains (losses) on equity securities2,080 (1,498)
Other revenue71 170 
Total revenue35,019 41,052 
EXPENSES:
Losses and loss adjustment expenses33,978 64,691 
Policy acquisition costs8,361 24,070 
Operating expenses513 1,645 
General and administrative expenses240 570 
Interest expense22 20 
Total expenses43,114 90,996 
Loss before other income(8,095)(49,944)
Other income (loss)— 9 
Loss before income taxes(8,095)(49,935)
Provision (benefit) for income taxes(9,217)(12,031)
Income (loss) from discontinued operations, net of tax$1,122 $(37,904)

As of February 28, 2023, the Company completed the disposal of its former subsidiary, UPC. This divestiture resulted in a gain of $229,183,000 for the period. This gain was driven by the negative equity position of UPC.










The major classes of assets and liabilities transferred as a result of the transaction as of the date of transfer and December 31, 2022 are presented below.
Major Classes of Assets and Liabilities Disposed
Closing (1)
December 31, 2022
ASSETS
Fixed maturities, available-for-sale1,380 171,781 
Equity securities272 23,363 
Other investments12,882 12,952 
Cash and cash equivalents224,824 158,990 
Restricted cash7,758 7,730 
Accrued investment income875 1,457 
Premiums receivable, net22,733 46,736 
Reinsurance recoverable on paid and unpaid losses, net548,929 834,863 
Ceded unearned premiums75,262 122,533 
Deferred policy acquisition costs, net(89)(2,046)
Other assets53,675 33,548 
Total assets$948,501 $1,411,907 
LIABILITIES
Unpaid losses and loss adjustment expenses920,431 1,103,980 
Unearned premiums98,655 286,842 
Reinsurance payable on premiums12,612 29,394 
Payments outstanding144,238 213,058 
Accounts payable and accrued expenses1,361 (872)
Other liabilities(3,731)5,692 
Notes payable, net4,118 4,118 
Total Liabilities$1,177,684 $1,642,212