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Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Investments, at fair value:    
Fixed maturities, available-for-sale $ 253,152,000 $ 281,001,000
Equity securities 61,685,000 36,794,000
Other investments 40,053,000 23,623,000
Total investments 354,890,000 341,418,000
Cash and cash equivalents 198,762,000 137,036,000
Restricted cash 94,092,000 62,357,000
Total cash, cash equivalents and restricted cash 292,854,000 199,393,000
Accrued investment income 3,156,000 2,964,000
Property and equipment, net 723,000 5,736,000
Premiums receivable, net 70,447,000 46,564,000
Reinsurance recoverable on paid and unpaid losses, net 128,205,000 263,419,000
Ceded uneared premiums 109,697,000 160,893,000
Goodwill 59,476,000 59,476,000
Deferred policy acquisition costs 37,815,000 40,282,000
Intangible assets, net 3,471,000 5,908,000
Other assets 11,998,000 16,816,000
Assets held for sale 0 73,243,000
Total Assets 1,072,732,000 1,216,112,000
Liabilities    
Unpaid losses and loss adjustment expenses 165,701,000 322,087,000
Unearned premiums 249,616,000 285,354,000
Reinsurance payable on premiums 66,841,000 83,130,000
Accounts payable and accrued expenses 112,781,000 86,140,000
Operating lease liability 3,135,000 3,323,000
Notes payable, net 149,353,000 149,020,000
Other liabilities 7,740,000 1,456,000
Liabilities held for sale 0 49,942,000
Total Liabilities 755,167,000 980,452,000
Commitments and Contingencies (Note 12)
Stockholders' Equity    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding 0 0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 48,976,885 and 48,417,045 issued, respectively; 48,764,802 and 48,204,962 outstanding, respectively 5,000 5,000
Additional paid-in capital 439,742,000 436,524,000
Treasury shares, at cost; 212,083 shares (431,000) (431,000)
Accumulated other comprehensive loss (7,242,000) (15,666,000)
Retained earnings (deficit) (114,509,000) (184,772,000)
Total Stockholders' Equity 317,565,000 235,660,000
Total Liabilities and Stockholders' Equity $ 1,072,732,000 $ 1,216,112,000