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Investments | 12 Months Ended
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Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Available-for-Sale Securities The amortized cost and estimated fair value of available-for-sale securities were as follows:
| December 31, 2025
Amortized Cost |  | Allowance for Credit Loss |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
U.S. Treasury and U.S. government agencies | $30,646 |  | $— |  | $76 |  | $— |  | $30,722
Corporate debt securities | 205,109 |  | — |  | 1,793 |  | (103) |  | 206,799
Asset-backed securities | 92,155 |  | — |  | 826 |  | (13) |  | 92,968
Total fixed maturity securities | 327,910 |  | — |  | 2,695 |  | (116) |  | 330,489
Short-term investments | 18,121 |  | — |  | 1 |  | (1) |  | 18,121
Total available-for-sale investments | $346,031 |  | $— |  | $2,696 |  | $(117) |  | $348,610
| December 31, 2024
Amortized Cost |  | Allowance for Credit Loss |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
U.S. Treasury and U.S. government agencies | $75,532 |  | $— |  | $— |  | $(298) |  | $75,234
Corporate debt securities | 109,174 |  | — |  | 164 |  | (548) |  | 108,790
Asset-backed securities | 29,799 |  | — |  | 262 |  | (40) |  | 30,021
Total fixed maturity securities | 214,505 |  | — |  | 426 |  | (886) |  | 214,045
Total available-for-sale investments | $214,505 |  | $— |  | $426 |  | $(886) |  | $214,045
A summary of the aggregate estimated fair values of available-for-sale securities with unrealized losses segregated by time period in an unrealized loss position is as follows:
| December 31, 2025
Less than 12 months |  | 12 months or greater |  | Total
Estimated Fair Value |  | Unrealized losses |  | Estimated Fair Value |  | Unrealized losses |  | Estimated Fair Value |  | Unrealized losses
Corporate debt securities | $134,892 |  | $(19) |  | $71,907 |  | $(84) |  | $206,799 |  | $(103)
Asset-backed securities | 78,644 |  | (12) |  | 14,324 |  | (1) |  | 92,968 |  | (13)
Short-term investments | 18,121 |  | (1) |  | — |  | — |  | 18,121 |  | (1)
Total | $231,657 |  | $(32) |  | $86,231 |  | $(85) |  | $317,888 |  | $(117)
| December 31, 2024
Less than 12 months |  | 12 months or greater |  | Total
Estimated Fair Value |  | Unrealized losses |  | Estimated Fair Value |  | Unrealized losses |  | Estimated Fair Value |  | Unrealized losses
U.S. Treasury and U.S. government agencies | $21,209 |  | $(145) |  | $41,355 |  | $(153) |  | $62,564 |  | $(298)
Corporate debt securities | 60,993 |  | (198) |  | 47,797 |  | (350) |  | 108,790 |  | (548)
Asset-backed securities | 13,869 |  | (11) |  | 16,152 |  | (29) |  | 30,021 |  | (40)
Total | $96,071 |  | $(354) |  | $105,304 |  | $(532) |  | $201,375 |  | $(886)
As of December 31, 2025 and December 31, 2024, there were 17 and 67 available-for-sale fixed-maturity securities, respectively, in an unrealized loss position. A summary of the amortized cost and estimated fair value of available-for-sale securities at December 31, 2025, by contractual maturity is as follows. The expected maturities may differ from the contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
| Amortized Cost |  | Estimated Fair Value
Years to maturity |  |  |
Government and corporate securities: |  |  |
Due in one year or less | $77,342 |  | $77,485
Due after one year through five years | 175,461 |  | 177,069
Due after five years through 10 years | 1,073 |  | 1,088
Due after 10 years | – |  | –
Other securities, which provide for periodic payments: |  |  |
Asset-backed securities | 92,155 |  | 92,968
Total | $346,031 |  | $348,610
The following table presents components of the Company’s net investment income as follows:
| Year Ended December 31,
2025 |  | 2024
Fixed maturities, available-for-sale | $11,497 |  | $7,842
Short-term investments | 396 |  | —
Cash and cash equivalents | 10,536 |  | 6,735
Gross investment income | 22,429 |  | 14,577
Investment expenses | (725) |  | (397)
Net investment income | $21,704 |  | $14,180
Proceeds from sales or maturities of fixed maturity available-for-sale securities for the year ended December 31, 2025 were $120,267, with $688 and $121 of gross realized gains and losses, respectively. Proceeds from sales of fixed maturity available-for-sale securities for the year ended December 31, 2024 were $83,223, with $170 and $51 of gross realized gains and losses, respectively. Proceeds from sales or maturities of short-term securities for the year ended December 31, 2025 were $15,144, with $2 and $0 of gross realized gains and losses, respectively. Proceeds from sales or maturities of short-term securities for the year ended December 31, 2024 were $1,957, with no gross realized gains or losses. The Company recorded the following activity pertaining to the allowance for credit losses:
| December 31,
2025 |  | 2024
Beginning balance - allowance for credit loss | $— |  | $—
Additions to the allowance for losses not previously recorded | — |  | —
Revisions to the allowance for losses previously recorded | — |  | —
Reduction in allowance for securities sold or impaired | — |  | —
Ending balance - allowance for credit loss | $— |  | $—

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
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