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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 29,956 $ 34,997
Adjustments to reconcile net income or loss to net cash provided by operating activities:    
Income from investments in related party investment fund (13,921) (22,578)
Net realized and unrealized losses (gains) on other investments (144) 324
Net realized and unrealized losses (gains) on derivatives 26 (565)
Share-based compensation expense 2,483 2,928
Accretion of debt offering costs, net of change in interest accruals 15 190
Net change in:    
Reinsurance balances receivable (50,813) (67,342)
Loss and loss adjustment expenses recoverable (8,181) (32,960)
Deferred acquisition costs (16,567) (3,349)
Unearned premiums ceded (7,078) (10,923)
Loss and loss adjustment expense reserves 84,016 91,203
Unearned premium reserves 58,873 42,705
Reinsurance balances payable 211 7,270
Funds withheld 699 977
Other items, net (756) (2,208)
Net cash provided by operating activities 78,819 40,669
Cash flows from investing activities    
Proceeds from redemptions of investment in Solasglas 14,000 0
Contributions to investment in Solasglas (74,200) (70,000)
Purchases of other investments (2,737) (414)
Proceeds on disposal of other investments 5 168
Net cash used in investing activities (62,932) (70,246)
Cash flows from financing activities    
Repayment of Term Loans (1,875) (11,876)
Repurchase of ordinary shares (5,000) 0
Net cash used in financing activities (6,875) (11,876)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 961 (107)
Increase (decrease) in cash, cash equivalents and restricted cash 9,973 (41,560)
Cash, cash equivalents and restricted cash at beginning of the period 649,087 655,730
Cash, cash equivalents and restricted cash at end of the period 659,060 614,170
Supplementary information:    
Interest paid in cash 2,535 3,315
Income tax paid in cash $ 44 $ 153