v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Investments    
Fixed maturity securities, available for sale, at fair value (amortized cost of $1,113,787 and $894,145, respectively) $ 1,113,093 $ 879,989
Short-term investments, at amortized cost, which approximates fair value 0 9,997
Total investments 1,113,093 889,986
Cash and cash equivalents 114,816 97,476
Restricted cash and cash equivalents 51,447 124,582
Accrued investment income 9,744 7,520
Premium balances receivable 88,849 63,672
Reinsurance recoverable, net 319,423 255,072
Prepaid reinsurance premiums 171,447 152,567
Deferred policy acquisition costs 32,178 27,625
Property and equipment, net 8,883 6,845
Income taxes receivable 1,877 586
Deferred tax assets, net 19,558 20,340
Other assets 10,836 7,971
Total assets 1,942,151 1,654,242
Liabilities    
Reserve for losses and loss adjustment expenses 950,719 756,859
Unearned premiums 502,378 446,850
Reinsurance balances payable 62,613 51,856
Income taxes payable 137 1,571
Accrued expenses 10,481 18,010
Other liabilities 8,011 8,654
Total liabilities 1,534,339 1,283,800
Commitments and contingencies (Note 12)
Mezzanine equity    
Performance stock units 607 265
Stockholders' equity    
Common stock 328 327
Additional paid-in capital 320,749 318,095
Accumulated other comprehensive loss (548) (11,154)
Retained earnings 86,676 62,909
Total stockholders' equity 407,205 370,177
Total mezzanine equity and stockholders' equity 407,812 370,442
Total liabilities, mezzanine equity and stockholders' equity $ 1,942,151 $ 1,654,242

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