XML 11 R4.htm IDEA: XBRL DOCUMENT v3.26.3
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
REVENUE:        
Gross premiums written $ 74,111 $ 71,812 $ 439,810 $ 498,010
Change in gross unearned premiums 64,363 90,945 (21,472) (7,692)
Gross premiums earned 138,474 162,757 418,338 490,318
Ceded premiums earned (73,022) (81,939) (217,577) (262,785)
Net premiums earned 65,452 80,818 200,761 227,533
Net investment income 5,881 6,416 16,362 16,720
Net realized investment gains (losses) (4) 0 3,266 1,382
Net unrealized gains (losses) on equity securities (625) 3,161 4,136 3,429
Total revenue 70,704 90,395 224,525 249,064
EXPENSES:        
Losses and loss adjustment expenses 7,967 9,211 37,043 36,140
Policy acquisition costs 24,832 25,439 69,928 73,162
General and administrative expenses 9,518 11,321 30,487 28,605
Interest expense 2,344 2,719 7,032 8,155
Total expenses 44,661 48,690 144,490 146,062
Income before other income (loss) 26,043 41,705 80,035 103,002
Other income (loss) (80) 665 84 3,114
Income before income taxes 25,963 42,370 80,119 106,116
Provision for income taxes 6,566 9,887 19,572 25,885
Income from continuing operations, net of tax 19,397 32,483 60,547 80,231
Income from discontinued operations, net of tax 0 0 0 42
Net income 19,397 32,483 60,547 80,273
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains (losses) on investments (4,142) 1,391 (2,874) 8,645
Reclassification adjustment for net realized investment losses (gains) 4 0 (3,266) (1,382)
Income tax benefit related to items of other comprehensive income 0 0 700 0
Total comprehensive income $ 15,259 $ 33,874 $ 55,107 $ 87,536
Weighted average shares outstanding        
Weighted average shares outstanding, Basic 47,192,404 48,664,597 47,939,067 48,413,364
Weighted average shares outstanding, Diluted 48,409,888 49,917,729 49,140,819 49,713,535
Basic        
Continuing operations $ 0.41 $ 0.67 $ 1.26 $ 1.66
Discontinued operations 0 0 0 0
Total 0.41 0.67 1.26 1.66
Diluted        
Continuing operations 0.4 0.65 1.23 1.61
Discontinued operations 0 0 0 0
Total $ 0.4 $ 0.65 $ 1.23 $ 1.61