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Discontinued Operations (As Restated) (Tables) | 6 Months Ended
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Jun. 30, 2024
Discontinued Operations [Abstract] |
Schedule of Assets and Liabilities Associated with Discontinued Operations | The Company’s Consolidated Statements of Cash Flows presents operating, investing, and financing cash flows of the discontinued operations separately. The major assets and liability categories were as follows as of the dates indicated:
|  | June 30, 2024 |  |  | December 31, 2023 |
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 15,656 |
Fixed income securities, at fair value |  |  | — |  |  |  | 58,332 |
Equity securities, at fair value |  |  | — |  |  |  | 5,784 |
Total cash and investments |  |  | — |  |  |  | 79,772 |
Premiums and agents’ balances receivable |  |  | — |  |  |  | 17,904 |
Deferred policy acquisition costs |  |  | — |  |  |  | 7,330 |
Reinsurance premiums receivable |  |  | — |  |  |  | 5,464 |
Reinsurance recoverables on losses |  |  | — |  |  |  | 42,509 |
Accrued investment income |  |  | — |  |  |  | 438 |
Property and equipment, net |  |  | — |  |  |  | 2,445 |
Deferred income taxes |  |  | — |  |  |  | (815 | )
Goodwill and other intangibles |  |  | — |  |  |  | 7,311 |
Other assets |  |  | — |  |  |  | 99 |
Total assets of discontinued operations |  | $ | — |  |  | $ | 162,457 |
Liabilities: |  |  |  |  |  |  |  |
Unpaid losses and loss adjustment expenses |  | $ | — |  |  | $ | 97,934 |
Unearned premiums |  |  | — |  |  |  | 38,000 |
Income tax payable (receivable) |  |  | — |  |  |  | (59 | )
Accrued expenses and other liabilities |  |  | — |  |  |  | 5,422 |
Total liabilities of discontinued operations |  | $ | — |  |  | $ | 141,297 |
Schedule of Operating Results of Discontinued Operations | Summary operating results of discontinued operations were as follows for the periods indicated:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net premiums earned |  | $ | 15,383 |  |  | $ | 15,311 |  |  | $ | 31,056 |  |  | $ | 30,067 |
Fee and other income |  |  | 7 |  |  |  | 9 |  |  |  | 14 |  |  |  | 22 |
Net investment income |  |  | 621 |  |  |  | 582 |  |  |  | 1,419 |  |  |  | 1,130 |
Net investment gains (losses) |  |  | (256 | ) |  |  | (1 | ) |  |  | 116 |  |  |  | 12 |
Total revenues |  |  | 15,755 |  |  |  | 15,901 |  |  |  | 32,605 |  |  |  | 31,231 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Losses and loss adjustment expenses |  |  | 11,441 |  |  |  | 17,429 |  |  |  | 23,506 |  |  |  | 35,129 |
Amortization of deferred policy acquisition costs |  |  | 4,083 |  |  |  | 3,795 |  |  |  | 7,928 |  |  |  | 7,379 |
Other underwriting and general expenses |  |  | 1,495 |  |  |  | 1,820 |  |  |  | 3,088 |  |  |  | 3,675 |
Total expenses |  |  | 17,019 |  |  |  | 23,044 |  |  |  | 34,522 |  |  |  | 46,183 |
Loss before income taxes |  |  | (1,264 | ) |  |  | (7,143 | ) |  |  | (1,917 | ) |  |  | (14,952 | )
Income tax benefit |  |  | (268 | ) |  |  | (1,484 | ) |  |  | (405 | ) |  |  | (2,979 | )
Net loss |  | $ | (996 | ) |  | $ | (5,659 | ) |  | $ | (1,512 | ) |  | $ | (11,973 | )
Loss per common share from discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.05 | ) |  | $ | (0.26 | ) |  | $ | (0.07 | ) |  | $ | (0.56 | )
Diluted |  | $ | (0.05 | ) |  | $ | (0.26 | ) |  | $ | (0.07 | ) |  | $ | (0.56 | )

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