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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Investments    
Investment in related party investment fund, at fair value $ 435,341 $ 387,144
Other investments 73,266 73,160
Total investments 508,607 460,304
Cash and cash equivalents 47,477 64,685
Restricted cash and cash equivalents 595,282 584,402
Reinsurance balances receivable (see Note $15) 768,711 704,483
Loss and loss adjustment expenses recoverable (see Note $8) 87,963 85,790
Deferred acquisition costs 96,759 82,249
Unearned premiums ceded 38,895 29,545
Other assets 8,402 4,765
Total assets 2,152,096 2,016,223
Liabilities    
Loss and loss adjustment expense reserves 916,600 860,969
Unearned premium reserves 384,311 324,551
Reinsurance balances payable 93,730 105,892
Funds withheld 21,825 21,878
Other liabilities 8,992 6,305
Debt 59,834 60,749
Total liabilities 1,485,292 1,380,344
Commitments and Contingencies (Note 15)
Shareholders' equity    
Preferred share capital (par value $0.10; none issued) 0 0
Ordinary share capital (par value $0.10; issued and outstanding, 34,557,449) (2024: par value $0.10; issued and outstanding, 34,831,324) 3,456 3,483
Additional paid-in capital 482,876 481,551
Retained earnings 180,472 150,845
Total shareholders' equity 666,804 635,879
Total liabilities and equity $ 2,152,096 $ 2,016,223