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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Investments    
Investment in related party investment fund, at fair value $ 456,861 $ 387,144
Other investments 63,182 73,160
Total investments 520,043 460,304
Cash and cash equivalents 68,789 64,685
Restricted cash and cash equivalents 586,444 584,402
Reinsurance balances receivable 731,707 704,483
Reinsurance recoverable on unpaid loss and loss adjustment expenses 82,783 85,790
Deferred acquisition costs 98,476 82,249
Unearned premiums ceded 36,123 29,545
Other assets 9,690 4,765
Total assets 2,134,055 2,016,223
Liabilities    
Loss and loss adjustment expense reserves 938,308 860,969
Unearned premium reserves 379,274 324,551
Reinsurance balances payable 97,980 105,892
Funds withheld 15,139 21,878
Other liabilities 9,720 6,305
Debt 34,745 60,749
Total liabilities 1,475,166 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, 34,099,226) (2024: par value $0.10; issued and outstanding, 34,831,324) 3,394 3,483
Additional paid-in capital 479,099 481,551
Retained earnings 176,396 150,845
Total shareholders' equity 658,889 635,879
Total liabilities and equity $ 2,134,055 $ 2,016,223