Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2025	Dec. 31, 2024
Assets
Fixed-maturity securities, available for sale, at fair value (amortized cost: $590,666 and $719,536, respectively and allowance for credit losses: $0 and $0, respectively)		$ 592,210	$ 718,537
Equity securities, at fair value (cost: $55,174 and $52,030 respectively)		58,618	56,200
Limited partnership investments		19,770	20,802
Real estate investments		85,578	79,120
Total investments		756,176	874,659
Cash and cash equivalents	[1]	947,166	532,471
Restricted cash	[1]	3,730	3,714
Accrued interest and dividends receivable		6,308	6,008
Income taxes receivable	[1]	3,130	463
Deferred income tax assets, net	[1]	361	72
Premiums receivable, net (allowance: $8,180 and $5,891, respectively)	[1]	65,826	50,582
Prepaid reinsurance premiums	[1]	0	92,060
Reinsurance recoverable, net of allowance for credit losses:
Paid losses and loss adjustment expenses (allowance: $0 and $0, respectively)		62,727	36,062
Unpaid losses and loss adjustment expenses (allowance: $137 and $186, respectively)		375,198	522,379
Deferred policy acquisition costs	[1]	65,138	54,303
Property and equipment, net		29,695	29,544
Right-of-use assets - operating leases		1,065	1,182
Intangible assets, net		3,927	5,206
Funds withheld for assumed business		8,538	11,690
Other assets	[1]	24,121	9,818
Total assets		2,353,106	2,230,213
Liabilities, Redeemable Noncontrolling Interests and Equity
Losses and loss adjustment expenses	[1]	696,892	845,900
Unearned premiums	[1]	627,484	584,703
Advance premiums	[1]	43,677	18,867
Reinsurance payable on paid losses and loss adjustment expenses		127	2,496
Ceded reinsurance premiums payable		38,121	18,313
Assumed premiums payable	[1]	375	2,176
Accrued expenses	[1]	42,033	17,677
Income taxes payable	[1]	24,294	5,451
Deferred income tax liabilities, net	[1]	2,402	2,830
Revolving credit facility		40,000	44,000
Long-term debt		15,602	185,254
Lease liabilities - operating leases		1,072	1,185
Other liabilities	[1]	33,938	32,320
Total liabilities		1,566,017	1,761,172
Commitments and contingencies (Note 22)
Redeemable noncontrolling interest (Note 19)		2,405	1,691
Equity:
Common stock (no par value, 40,000,000 shares authorized, 12,956,884 and 10,767,184 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively)		0	0
Additional paid-in capital		298,706	122,289
Retained earnings		458,713	331,793
Accumulated other comprehensive income (loss)		1,158	(749)
Total stockholders’ equity		758,577	453,333
Noncontrolling interests		26,107	14,017
Total equity		784,684	467,350
Total liabilities, redeemable noncontrolling interest and equity		$ 2,353,106	$ 2,230,213

[1] See Note 14 for details of balances associated with consolidated variable interest entities.