Variable Interest Entity (Tables)

12 Months Ended

Dec. 31, 2025

The following table presents, on a consolidated basis, the balance sheet classification and exposure of restricted cash

and investments held in the segregated account, which are used to settle reinsurance obligations of the VIE as of the

dates presented. Restricted cash and investments held in the segregated account are required to be held in a trust

account solely for the benefit of the Company and can be used to settle activity under the reinsurance agreement.

Any restricted cash or investments held in the segregated account not actively being used to settle activity under the

reinsurance agreement can be paid to the Company by dividend based upon underwriting results of the segregated

account or by expiration or termination of the reinsurance agreement. Catstyle cannot declare or pay dividends

without necessary approvals from the Bermuda Monetary Authority (the “Authority”).


	December 31, 2025	December 31, 2024
Restricted cash and cash equivalents	$39,364	$5,516
Fixed maturity securities	—	12,669
Total	$39,364	$18,185