Reinsurance (Tables)

3 Months Ended

Mar. 31, 2026

Reinsurance Disclosures [Abstract]

Summary of Premium Received and Capital at Risk

The table below outlines the participation of Shoreline Re for each program, including premium collected and capital at risk.

Treaty	Effective Dates	Premium Collected / Cession Rate		Capital at Risk (1)
Quota Share Agreement	06/01/2025 - 05/31/2026	45% (2)		$	33,346,000	(3)
All Other Perils Catastrophe	01/01/2025 -
Excess of Loss Agreement	12/31/2025		1,296,000		2,304,000
Excess Per Risk Agreement	02/01/2024 - 01/31/2025		1,867,000		633,000
Quota Share Agreement (4)	06/01/2024 - 05/31/2026	30% (2)		$	4,200,000	(5)

(1) Capital at risk is calculated by taking the aggregate losses Shoreline Re is subject to under the contract, less net premiums earned under the contract.

(2) This treaty provides or provided coverage for all catastrophe perils and attritional losses incurred. For all catastrophe perils, the quota share agreement provides or provided ground-up protection, effectively reducing our retention for catastrophe losses.

(3) Net premiums earned based on estimated subject premiums at June 1, 2025.

(4) This treaty was commuted on June 1, 2025 with no impact on our consolidated results.

(5) Net premiums earned based on estimated subject premiums at June 1, 2024.

Schedule of External Quota Share Agreements

The table below outlines the Company's external quota share agreements in effect for the three months ended March 31, 2026 and 2025.

Reinsurer	Companies in Scope	Effective Dates	Cession Rate	States in Scope
External third-party	AmCoastal	06/01/2024 - 05/31/2026	20% (1)(2)	Florida

(1) This treaty provides or provided coverage for all catastrophe perils and attritional losses incurred. For all catastrophe perils, the quota share agreement provides or provided ground-up protection, effectively reducing the Company's retention for catastrophe losses.

(2) The cession rate of this treaty was reduced from 20% to 15% effective June 1, 2025.

Reinsurance Recoverables

Reinsurance recoverable at the balance sheet dates consists of the following:

	March 31, 2026		December 31, 2025
Reinsurance recoverable on unpaid losses and loss adjustment expenses	$	86,643	$	116,772
Reinsurance recoverable on paid losses and loss adjustment expenses		25,414		11,433
Reinsurance recoverable(1)	$	112,057	$	128,205

(1) The Company's reinsurance recoverable balance is net of its allowance for expected credit losses. More information related to this allowance can be found in Note 17.