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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Fixed-maturity securities, available-for-sale, at fair value (amortized cost: $387,687 and $494,197, respectively and allowance for credit losses: $0 and $0, respectively) $ 383,238 $ 483,901
Equity securities, at fair value (cost: $44,011 and $36,272, respectively) 45,537 34,583
Limited partnership investments 23,583 25,702
Investment in unconsolidated joint venture, at equity 0 18
Real estate investments 67,893 71,388
Total investments 520,251 615,592
Cash and cash equivalents [1] 536,478 234,863
Restricted cash [1] 3,287 2,900
Receivable from Maturities of Debt Securities 91,085 0
Accrued interest and dividends receivable 3,507 1,952
Income taxes receivable 0 2,807
Deferred income taxes, net 512 0
Premiums receivable, net (allowance: $3,581 and $5,362, respectively) 38,037 34,998
Assumed premiums receivable 19,954 0
Prepaid reinsurance premiums 86,232 66,627
Reinsurance recoverable, net of allowance for credit losses:    
Paid losses and loss adjustment expenses (allowance: $0 and $0, respectively) 19,690 71,594
Unpaid losses and loss adjustment expenses (allowance: $118 and $454, respectively) 330,604 616,765
Deferred policy acquisition costs 42,910 45,522
Property and equipment, net 29,251 17,910
Right-of-use assets - operating leases 1,407 777
Intangible assets, net 7,659 10,578
Funds withheld for assumed business 30,087 48,772
Other assets [1] 50,365 31,671
Total assets 1,811,316 1,803,328
Liabilities and Equity    
Losses and loss adjustment expenses 585,073 863,765
Unearned premiums 501,157 368,047
Advance premiums 15,895 18,587
Assumed premiums payable 850 0
Reinsurance payable on paid losses and loss adjustment expenses 3,145 8,606
Ceded reinsurance premiums payable 8,921 17,646
Accrued expenses 19,722 14,534
Income tax payable 7,702 0
Reinsurance recovered in advance on unpaid losses 0 19,863
Deferred income taxes, net 0 1,704
Long-term debt 208,495 211,687
Lease liabilities - operating leases 1,408 721
Other liabilities 35,623 23,361
Total liabilities 1,387,991 1,548,521
Commitments and contingencies (Note 23)
Redeemable noncontrolling interest (Note 19) 96,160 93,553
Equity:    
Common stock (no par value, 40,000,000 shares authorized, 9,738,183 and 8,598,682 shares issued and outstanding in 2023 and 2022, respectively) 0 0
Additional paid-in capital 89,568 0
Retained income 238,438 172,482
Accumulated other comprehensive (loss) income, net of taxes (3,163) (9,886)
Total stockholders’ equity 324,843 162,596
Noncontrolling interests 2,322 (1,342)
Total equity 327,165 161,254
Total liabilities and stockholders' equity $ 1,811,316 $ 1,803,328
[1] See Note 16 for details of balances associated with variable interest entity.