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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUE:        
Gross premiums written $ 71,812 $ 93,016 $ 498,010 $ 507,066
Change in gross unearned premiums 90,945 67,162 (7,692) (31,168)
Gross premiums earned 162,757 160,178 490,318 475,898
Ceded premiums earned (81,939) (85,692) (262,785) (275,400)
Net premiums earned 80,818 74,486 227,533 200,498
Net investment income 6,416 6,110 16,720 15,474
Net realized investment gains (losses) 0 (3) 1,382 (124)
Net unrealized gains on equity securities 3,161 1,543 3,429 1,542
Total revenue 90,395 82,136 249,064 217,390
EXPENSES:        
Losses and loss adjustment expenses 9,211 11,774 36,140 39,525
Policy acquisition costs 25,439 20,942 73,162 44,476
General and administrative expenses 11,321 10,289 28,605 33,479
Interest expense 2,719 3,067 8,155 9,212
Total expenses 48,690 46,072 146,062 126,692
Income before other income 41,705 36,064 103,002 90,698
Other income 665 453 3,114 2,074
Income before income taxes 42,370 36,517 106,116 92,772
Provision for income taxes 9,887 8,848 25,885 22,321
Income from continuing operations, net of tax 32,483 27,669 80,231 70,451
Income from discontinued operations, net of tax 0 450 42 321
Net income 32,483 28,119 80,273 70,772
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains on investments, Pre-Tax Amount 1,391 7,529 8,645 7,404
Reclassification adjustment for net realized investment losses (gains) 0 3 (1,382) 124
Total comprehensive income $ 33,874 $ 35,651 $ 87,536 $ 78,300
Weighted average shares outstanding        
Weighted average shares outstanding, Basic 48,664,597 48,066,358 48,413,364 47,742,744
Weighted average shares outstanding, Diluted 49,917,729 49,521,246 49,713,535 49,255,071
Basic        
Continuing operations $ 0.67 $ 0.58 $ 1.66 $ 1.48
Discontinued operations 0 0.01 0 0.01
Total 0.67 0.59 1.66 1.49
Diluted        
Continuing operations 0.65 0.56 1.61 1.43
Discontinued operations 0 0.01 0 0.01
Total $ 0.65 $ 0.57 $ 1.61 $ 1.44