XML 80 R67.htm IDEA: XBRL DOCUMENT v3.25.1
SEGMENT REPORTING - Schedule of Gross Premiums Written by Line of Business (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
USD ($)
segment
Mar. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting Information        
Number of operating segments | segment 2      
Gross premiums written $ 247,945 $ 217,258    
Net premiums written 219,397 194,077    
Net premiums earned 168,463 161,536    
Net loss and LAE incurred (122,884) (109,326)    
Acquisition costs (46,866) (41,610)    
Other underwriting expenses (6,358) (6,339)    
Deposit interest expense, net (149) (876)    
Underwriting income (loss) (7,794) 3,385    
Net investment income 8,287 13,178    
Corporate and other expenses (4,672) (4,375)    
Income from investment in Solasglas 32,197 18,248    
Foreign exchange gains (losses) 4,355 (1,649)    
Interest expense (1,464) (1,249)    
Income before income tax 30,909 27,538    
Attritional losses (91,651) (91,488)    
CAT losses (27,015) (12,437)    
Prior year adverse (favorable) loss development 4,218 5,401 $ 4,218 $ 5,401
Total net loss and LAE incurred 122,884 109,326    
Total allocated assets 2,152,096 1,876,969 2,016,223  
Operating Segments        
Segment Reporting Information        
Prior year adverse (favorable) loss development 4,329 1,472    
Corporate        
Segment Reporting Information        
Gross premiums written (230) 129    
Net premiums written (183) 117    
Net premiums earned (183) 9,729    
Net loss and LAE incurred 225 (9,499)    
Acquisition costs 48 (1,978)    
Other underwriting expenses 0 0    
Deposit interest expense, net 0 0    
Underwriting income (loss) 90 (1,748)    
Net investment income 2,068 745    
Corporate and other expenses (4,100) (3,785)    
Income from investment in Solasglas 32,197 18,248    
Foreign exchange gains (losses) 4,355 (1,649)    
Interest expense (1,464) (1,249)    
Income before income tax 33,146 10,562    
Attritional losses 114 (5,570)    
CAT losses 0 0    
Prior year adverse (favorable) loss development (111) 3,929 (111) 3,929
Total net loss and LAE incurred (225) 9,499    
Total allocated assets 1,547,145 1,304,210    
Open Market | Operating Segments        
Segment Reporting Information        
Gross premiums written 220,709 187,061    
Net premiums written 195,609 167,716    
Net premiums earned 149,641 131,610    
Net loss and LAE incurred (112,763) (86,700)    
Acquisition costs (40,881) (33,579)    
Other underwriting expenses (4,797) (5,478)    
Deposit interest expense, net (149) (876)    
Underwriting income (loss) (8,949) 4,977    
Net investment income 5,771 12,616    
Corporate and other expenses 0 0    
Income before income tax (3,178) 17,593    
Attritional losses (80,852) (72,790)    
CAT losses (27,015) (12,437)    
Prior year adverse (favorable) loss development 4,896 1,473 4,896 1,473
Total net loss and LAE incurred 112,763 86,700    
Total allocated assets 459,549 479,820    
Innovations | Operating Segments        
Segment Reporting Information        
Gross premiums written 27,466 30,068    
Net premiums written 23,971 26,244    
Net premiums earned 19,005 20,197    
Net loss and LAE incurred (10,346) (13,127)    
Acquisition costs (6,033) (6,053)    
Other underwriting expenses (1,561) (861)    
Deposit interest expense, net 0 0    
Underwriting income (loss) 1,065 156    
Net investment income 448 (183)    
Corporate and other expenses (572) (590)    
Income before income tax 941 (617)    
Attritional losses (10,913) (13,128)    
CAT losses 0 0    
Prior year adverse (favorable) loss development (567) (1) $ (567) $ (1)
Total net loss and LAE incurred 10,346 13,127    
Total allocated assets $ 145,402 $ 92,939