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DEBT AND CREDIT FACILITIES (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Debt | The following table summarizes the Company’s outstanding debt obligations.
|  | September 30, 2025 |  | December 31, 2024
Term loans |  | $ | — |  |  | $ | 60,313 |
Revolving credit facility |  | 35,000 |  |  | — |
Accrued interest payable |  | — |  |  | 923 |
Less: deferred financing costs |  | (255) |  |  | (487) |
Total debt |  | $ | 34,745 |  |  | $ | 60,749 |
Schedule of Letters of Credit Facilities | At September 30, 2025, the Company had the following letter of credit (“LC”) facilities:
|  | Capacity |  | LCs issued |  |
HSBC (1) |  | $ | 100,000 |  |  | $ | — |  |  |
Citibank (2) |  | 275,000 |  |  | 183,339 |  |  |
CIBC (3) |  | 200,000 |  |  | 119,394 |  |  |
Total LCs in favor of cedants |  | $ | 575,000 |  |  | $ | 302,733 |  |  |
Citibank FAL (4) |  | £ | 50,000 |  |  | £ | — |  |  |
(1) The HSBC LC facility may be terminated by either the Company or HSBC upon written notice; provided that such termination shall not terminate any letters of credit then-outstanding under this facility. (2) The Citibank LC facility may be terminated by Citibank upon written notice to the Company; provided that the termination date shall not be earlier than the expiry date of any then-outstanding under this facility. (3) The CIBC LC facility will terminate on December 21, 2026, subject to automatic 1-year extensions unless a termination noticed is provided by CIBC or the Company at least 120 days prior to the then-applicable termination date. (4) The Citibank FAL LC facility may be terminated by Citibank upon written notice to Lloyd’s and the Company; provided that the termination date shall not be earlier than December 31st of the fourth anniversary of such termination date.

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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