Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value of Financial Instruments

Fair value measurements for investments

	As of December 31, 2025
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
U.S. Treasury securities	$	4,205	$	—	$	4,205	$	—
Obligations of states and political subdivisions		37,718		—		37,718		—
Residential mortgage-backed securities		366,047		—		366,047		—
Commercial mortgage-backed securities		157,018		—		157,018		—
Other asset-backed securities		169,509		—		169,509		—
Corporate and other securities		581,051		—		581,051		—
Other invested assets		14,209		—		14,209		—
Equity securities		188,954		188,022		—		932
Total investment securities	$	1,518,711	$	188,022	$	1,329,757	$	932

	As of December 31, 2024
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
U.S. Treasury securities	$	2,343	$	—	$	2,343	$	—
Obligations of states and political subdivisions		36,166		—		36,166		—
Residential mortgage-backed securities		301,227		—		301,227		—
Commercial mortgage-backed securities		129,375		—		129,375		—
Other asset-backed securities		63,717		—		63,717		—
Corporate and other securities		582,390		—		582,390		—
Short-term investments		19,975		—		19,975		—
Other invested assets		14,477		—		14,477		—
Equity securities		189,668		187,548		—		2,120
Total investment securities	$	1,339,338	$	187,548	$	1,149,670	$	2,120

Changes in the Company's Level 3 fair value securities

	Years Ended December 31,
	2025		2024		2023
Balance at beginning of period	$	2,120	$	2,086	$	2,255
Net gains and losses included in earnings		—		—		—
Net gains included in other comprehensive income		—		—		—
Purchases		48		372		1,351
Sales		(1,236)		(338)		(1,520)
Transfers into Level 3		—		—		—
Transfers out of Level 3		—		—		—
Balance at end of period	$	932	$	2,120	$	2,086