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Discontinued Operations and Disposal Groups (Tables)
 3 Months Ended
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations - Results of Ops IIC
On May 9, 2024, the Company entered into the Sale Agreement with Forza in which ACIC agreed to sell and Forza agreed to acquire 100% of the issued and outstanding stock of IIC. Forza’s application to acquire IIC was approved by the NYDFS on February 13, 2025 and the sale closed on April 1, 2025. The aggregate purchase price for the shares was equal to IIC's GAAP shareholders' equity on the closing date.

The results from IIC's discontinued operations for the three months ended March 31, 2025 and 2024 are presented below.

IIC Results from Discontinued Operations
Three Months Ended March 31,
20252024
REVENUE:
Gross premiums written$13,120 $12,857 
Change in gross unearned premiums(3,336)(4,305)
Gross premiums earned9,784 8,552 
Ceded premiums earned(2,528)(2,453)
Net premiums earned7,256 6,099 
Net investment income538 491 
Net realized investment losses(2)— 
Other revenue16 16 
Total revenue7,808 6,606 
EXPENSES:
Losses and loss adjustment expenses3,179 3,432 
Policy acquisition costs1,906 2,198 
General and administrative expenses546 1,130 
Total expenses5,631 6,760 
Income (loss) before income taxes2,177 (154)
Provision (benefit) for income taxes540 (44)
Income (loss) from discontinued operations, net of tax$1,637 $(110)

The major classes of IIC assets and liabilities as of March 31, 2025 and December 31, 2024 are presented below.

IIC Major Classes of Assets and Liabilities Sold
March 31, 2025December 31, 2024
ASSETS
Fixed maturities, available-for-sale$40,925 $38,523 
Other investments988 978 
Cash and cash equivalents21,206 22,897 
Accrued investment income297 317 
Premiums receivable, net3,174 1,606 
Reinsurance recoverable on paid and unpaid losses, net265 259 
Ceded unearned premiums2,004 4,075 
Deferred policy acquisition costs, net4,462 3,647 
Intangible assets, net775 775 
Other assets388 166 
Total assets$74,484 $73,243 
LIABILITIES
Unpaid losses and loss adjustment expenses$21,391 $21,499 
Unearned premiums23,574 20,238 
Reinsurance payable on premiums— 3,966 
Payments outstanding2,214 3,091 
Accounts payable and accrued expenses101 1,058 
Operating lease liability65 69 
Other liabilities991 21 
Total Liabilities$48,336 $49,942 
During the first quarter of 2024, due to a change in circumstances, the Company evaluated its capitalized software, previously classified as held for disposal at December 31, 2023. As a result of this evaluation, it was determined that the use case of the software by the Company shifted. The Company reclassified this asset and the associated amortization expense in 2024 in accordance with GAAP guidance, resulting in amortization expense for the capitalized software being captured in continuing operations prospectively. The value of this capitalized software at the time of reclassification was $8,095,000. There were no other non-cash transactions during the three months ended March 31, 2025 and 2024.
Discontinued Operations - Assets & Liabilities IIC
The major classes of IIC assets and liabilities as of March 31, 2025 and December 31, 2024 are presented below.

IIC Major Classes of Assets and Liabilities Sold
March 31, 2025December 31, 2024
ASSETS
Fixed maturities, available-for-sale$40,925 $38,523 
Other investments988 978 
Cash and cash equivalents21,206 22,897 
Accrued investment income297 317 
Premiums receivable, net3,174 1,606 
Reinsurance recoverable on paid and unpaid losses, net265 259 
Ceded unearned premiums2,004 4,075 
Deferred policy acquisition costs, net4,462 3,647 
Intangible assets, net775 775 
Other assets388 166 
Total assets$74,484 $73,243 
LIABILITIES
Unpaid losses and loss adjustment expenses$21,391 $21,499 
Unearned premiums23,574 20,238 
Reinsurance payable on premiums— 3,966 
Payments outstanding2,214 3,091 
Accounts payable and accrued expenses101 1,058 
Operating lease liability65 69 
Other liabilities991 21 
Total Liabilities$48,336 $49,942