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Investments (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Fair Value of Equity Securities

The following table details fixed maturity available-for-sale securities, by major investment category, at December 31, 2024 and 2023:

			Cost or Adjusted/Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
December 31, 2024
U.S. government and agency securities			$	154,096					$	589					$	25					$	154,660
Corporate securities			68,024						6						6,495						61,535
Mortgage-backed securities			35,895						—						5,433						30,462
States, municipalities and political subdivisions			19,104						—						1,907						17,197
Asset-backed securities			12,341						1						906						11,436
Public utilities			5,651						—						367						5,284
Foreign government			436						—						9						427
Total fixed maturities			$	295,547					$	596					$	15,142					$	281,001
December 31, 2023
U.S. government and agency securities			$	25,995					$	10					$	3					$	26,002
Corporate securities			55,230						9						7,213						48,026
Mortgage-backed securities			40,876						—						6,254						34,622
States, municipalities and political subdivisions			19,168						—						2,204						16,964
Asset-backed securities			10,691						—						1,206						9,485
Public utilities			3,726						—						438						3,288
Foreign government			—						—						—						—
Total fixed maturities			$	155,686					$	19					$	17,318					$	138,387

Equity securities are summarized as follows at:

						December 31, 2024												December 31, 2023
						Estimated Fair Value						Percent of Total						Estimated Fair Value						Percent of Total
Mutual funds						$	31,818					86.5		%				$	—					—		%
Other common stocks						4,976						13.5						—						—
Total equity securities						$	36,794					100.0		%				$	—					—		%

Schedule of Realized Gain (Loss)

The following table details our realized gains (losses) by major investment category for the years ended December 31, 2024, 2023 and 2022:

			2024												2023												2022
			Gains (Losses)						Fair Value at Sale (1)						Gains (Losses)						Fair Value at Sale (1)						Gains (Losses)						Fair Value at Sale (1)
Fixed maturities			$	—					$	10,720					$	4					$	7,315					$	88					$	27,249
Equity securities			—						—						165						5,786						—						—
Short-term investments			—						9,000						—						126						—						—
Other investments			—						2,000						3						1,151						—						—
Total realized gains			—						21,720						172						14,378						88						27,249
Fixed maturities			(124)						443						(6,296)						39,225						(6,600)						87,577
Equity securities			—						—						(665)						10,372						—						—
Short-term investments			—						4,999						—						—						—						—
Total realized losses			(124)						5,442						(6,961)						49,597						(6,600)						87,577
Net realized investment gains (losses)			$	(124)					$	27,162					$	(6,789)					$	63,975					$	(6,512)					$	114,826

(1) Fair Value at Sale includes maturities and paydowns executed at par value.

Investments Classified by Contractual Maturity Date

The table below summarizes our fixed maturities at December 31, 2024, by contractual maturity periods. Actual results may differ as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturities of those obligations.

			December 31, 2024
			Cost or Amortized Cost						Percent of Total						Fair Value						Percent of Total
Due in one year or less			$	105,803					35.8		%				$	106,110					37.7		%
Due after one year through five years			104,319						35.3		%				101,342						36.1		%
Due after five years through ten years			35,198						11.9		%				30,105						10.7		%
Due after ten years			1,991						0.7		%				1,546						0.6		%
Asset and mortgage-backed securities			48,236						16.3		%				41,898						14.9		%
Total			$	295,547					100.0		%				$	281,001					100.0		%

Investment Income

The following table summarizes our net investment income by major investment category:

			Year Ended December 31,
			2024						2023						2022
Fixed maturities			$	7,132					$	3,061					$	4,739
Equity securities			386						80						305
Cash and cash equivalents			12,624						5,411						1,205
Other investments			918						(68)						214
Investment income			21,060						8,484						6,463
Investment expenses			(265)						(184)						(420)
Net investment income			$	20,795					$	8,300					$	6,043

Schedule of Unrealized Loss on Investments

The following table presents an aging of our unrealized investment losses by investment class:

			Less Than Twelve Months																		Twelve Months or More
			Number of Securities(1)						Gross Unrealized Losses						Fair Value						Number of Securities(1)						Gross Unrealized Losses						Fair Value
December 31, 2024
U.S. government and agency securities			2						$	25					$	5,878					—						$	—					$	—
Corporate securities			42						300						14,559						80						6,195						45,702
Mortgage-backed securities			4						26						1,244						61						5,407						29,218
States, municipalities and political subdivisions			4						25						1,330						27						1,882						15,868
Asset-backed securities			6						21						2,104						22						885						7,977
Public utilities			6						37						1,937						6						330						3,347
Foreign governments			1						9						427						—						—						—
Total fixed maturities			65						$	443					$	27,479					196						$	14,699					$	102,112
December 31, 2023
U.S. government and agency securities			9						$	3					$	19,943					—						$	—					$	—
Corporate securities			1						6						511						85						7,207						46,708
Mortgage-backed securities			1						5						269						69						6,249						34,353
States, municipalities and political subdivisions			1						7						507						29						2,197						16,457
Asset-backed securities			2						3						616						24						1,203						8,869
Public utilities			—						—						—						6						438						3,288
Foreign governments			—						—						—						—						—						—
Total fixed maturities			14						$	24					$	21,846					213						$	17,294					$	109,675

(1) This amount represents the actual number of discrete securities, not the number of shares or units of those securities. The numbers are not presented in thousands.

Schedule of Fair Value of Financial Instruments Measured on a Recurring Basis

The following table presents the fair value of our financial instruments measured on a recurring basis by level at December 31, 2024 and 2023:

			Total						Level 1						Level 2						Level 3
December 31, 2024
U.S. government and agency securities			$	154,660					$	—					$	154,660					$	—
Corporate securities			61,535						—						61,535						—
Mortgage-backed securities			30,462						—						30,462						—
States, municipalities and political subdivisions			17,197						—						17,197						—
Asset-backed securities			11,436						—						11,436						—
Public utilities			5,284						—						5,284						—
Foreign government			427						—						427						—
Total fixed maturities			281,001						—						281,001						—
Mutual funds			31,818						31,818						—						—
Other common stocks (1)			—						—						—						—
Total equity securities			31,818						31,818						—						—
Other investments (2)			20,494						—						20,494						—
Total investments			$	333,313					$	31,818					$	301,495					$	—
December 31, 2023
U.S. government and agency securities			$	26,002					$	—					$	26,002					$	—
Corporate securities			48,026						—						48,026						—
Mortgage-backed securities			34,622						—						34,622						—
States, municipalities and political subdivisions			16,964						—						16,964						—
Asset-backed securities			9,485						—						9,485						—
Public utilities			3,288						—						3,288						—
Foreign government			—						—						—						—
Total fixed maturities			138,387						—						138,387						—
Mutual Funds			—						—						—						—
Other common stocks			—						—						—						—
Total equity securities			—						—						—						—
Other investments (2)			14,004						—						14,004						—
Total investments			$	152,391					$	—					$	152,391					$	—

(1) \Other common stocks in the fair value hierarchy exclude these common stock interests that are measured at estimated fair value using the net asset value per share (or its equivalent) practical expedient.

(2) Other investments included in the fair value hierarchy exclude these other limited partnership interests that are measured at estimated fair value using the net asset value per share (or its equivalent) practical expedient.

Schedule of Fair Value of Financial Instruments with Unobservable Inputs

The information presented in the table below is as of December 31, 2024 and 2023:

						Book Value						Unrealized Gain						Unrealized Loss						Fair Value
December 31, 2024
Limited partnership investments (1)						$	2,556					$	573					$	—					$	3,129
Short-term investments						20,413						81						—						20,494
Total other investments						$	22,969					$	654					$	—					$	23,623
December 31, 2023
Limited partnership investments (1)						$	2,104					$	379					$	—					$	2,483
Short-term investments						14,014						1						11						14,004
Total other investments						$	16,118					$	380					$	11					$	16,487

(1) Distributions will be generated from investment gains, from operating income, from underlying investments of the funds and from liquidation of the underlying assets of the funds. We estimate that the underlying assets of the funds will be liquidated over the next few months to five years.

Restrictions on Cash and Cash Equivalents

The following table presents the components of restricted assets:

			December 31,
			2024						2023
Trust funds			$	62,013					$	17,439
Cash on deposit (regulatory deposits)			344						631
Total restricted cash			$	62,357					$	18,070

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