Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Information by Reportable Segment

The following tables present information by reportable operating segment (dollars in thousands):

Three months ended June 30, 2024	Commercial Lines			Personal Lines			Total Underwriting			Wholesale Agency		Corporate			Eliminations			Total
Gross written premiums	$	6,782		$	12,189		$	18,971		$	—	$	—		$	—		$	18,971
Net written premiums	$	4,285		$	8,962		$	13,247		$	—	$	—		$	—		$	13,247
Net earned premiums	$	8,681		$	7,985		$	16,666		$	—	$	—		$	—		$	16,666
Agency commission income		—			—			—			13,688		—			(4,857	)		8,831
Other income		19			20			39			83		38			—			160
Segment revenue		8,700			8,005			16,705			13,771		38			(4,857	)		25,657
Losses and LAE, net		6,906			8,375			15,281			—		—			—			15,281
Policy acquisition costs		1,155			2,236			3,391			11,005		—			(3,916	)		10,480
Operating expenses		1,050			926			1,976			2,046		234			—			4,256
Segment expenses		9,111			11,537			20,648			13,051		234			(3,916	)		30,017
Segment gain (loss)	$	(411	)	$	(3,532	)	$	(3,943	)	$	720	$	(196	)	$	(941	)	$	(4,360	)
Investment income													1,505						1,505
Net realized investment gains (losses)													(118	)					(118	)
Change in fair value of equity securities													(196	)					(196	)
Interest expense													(869	)					(869	)
Income (loss) before equity earnings in Affiliate and income taxes	$	(411	)	$	(3,532	)	$	(3,943	)	$	720	$	126		$	(941	)	$	(4,038	)

Three months ended June 30, 2023	Commercial Lines			Personal Lines			Total Underwriting			Wholesale Agency			Corporate			Eliminations			Total
Gross written premiums	$	34,761		$	9,913		$	44,674		$	—		$	—		$	—		$	44,674
Net written premiums	$	20,485		$	8,843		$	29,328		$	—		$	—		$	—		$	29,328
Net earned premiums	$	17,487		$	5,696		$	23,183		$	—		$	—		$	—		$	23,183
Agency commission income		—			—			—			560			—			(349	)		211
Other income		56			23			79			34			74			—			187
Segment revenue		17,543			5,719			23,262			594			74			(349	)		23,581
Losses and LAE, net		13,597			5,722			19,319			—			—			—			19,319
Policy acquisition costs		2,966			1,453			4,419			349			—			(355	)		4,413
Operating expenses		3,600			792			4,392			365			357			—			5,114
Segment expenses		20,163			7,967			28,130			714			357			(355	)		28,846
Segment gain (loss)	$	(2,620	)	$	(2,248	)	$	(4,868	)	$	(120	)	$	(283	)	$	6		$	(5,265	)
Investment income														1,354						1,354
Change in fair value of equity securities														(12	)					(12	)
Interest expense														(820	)					(820	)
Income (loss) before equity earnings in Affiliate and income taxes	$	(2,620	)	$	(2,248	)	$	(4,868	)	$	(120	)	$	239		$	6		$	(4,743	)

Six months ended June 30, 2024	Commercial Lines			Personal Lines			Total Underwriting			Wholesale Agency		Corporate			Eliminations			Total
Gross written premiums	$	19,544		$	23,740		$	43,284		$	—	$	—		$	—		$	43,284
Net written premiums	$	12,572		$	16,066		$	28,638		$	—	$	—		$	—		$	28,638
Net earned premiums	$	17,478		$	16,075		$	33,553		$	—	$	—		$	—		$	33,553
Agency commission income	$	—		$	—		$	—		$	24,282	$	—		$	(11,115	)	$	13,167
Other income		69			48			117			194		109			—			420
Segment revenue		17,547			16,123			33,670			24,476		109			(11,115	)		47,140
Losses and LAE, net		13,672			12,129			25,801			—		—			—			25,801
Policy acquisition costs		2,302			4,249			6,551			20,124		—			(9,182	)		17,493
Operating expenses		2,798			1,897			4,695			3,679		377			—			8,751
Segment expenses		18,772			18,275			37,047			23,803		377			(9,182	)		52,045
Segment gain (loss)	$	(1,225	)	$	(2,152	)	$	(3,377	)	$	673	$	(268	)	$	(1,933	)	$	(4,905	)
Investment income													3,057						3,057
Net realized investment gains (losses)													(118	)					(118	)
Change in fair value of equity securities													(153	)					(153	)
Interest expense													(1,746	)					(1,746	)
Income (loss) before equity earnings in Affiliate and income taxes	$	(1,225	)	$	(2,152	)	$	(3,377	)	$	673	$	772		$	(1,933	)	$	(3,865	)

Six months ended June 30, 2023	Commercial Lines			Personal Lines			Total Underwriting			Wholesale Agency			Corporate			Eliminations			Total
Gross written premiums	$	63,736		$	17,152		$	80,888		$	—		$	—		$	—		$	80,888
Net written premiums	$	32,726		$	14,944		$	47,670		$	—		$	—		$	—		$	47,670
Net earned premiums	$	34,610		$	10,525		$	45,135		$	—		$	—		$	—		$	45,135
Agency commission income	$	—		$	—		$	—		$	1,390		$	—		$	(749	)	$	641
Other income		108			46			154			83			146			—			383
Segment revenue		34,718			10,571			45,289			1,473			146			(749	)		46,159
Losses and LAE, net		24,144			8,888			33,032			—			—			—			33,032
Policy acquisition costs		6,162			2,842			9,004			897			—			(767	)		9,134
Operating expenses		6,628			1,384			8,012			717			664			—			9,393
Segment expenses		36,934			13,114			50,048			1,614			664			(767	)		51,559
Segment gain (loss)	$	(2,216	)	$	(2,543	)	$	(4,759	)	$	(141	)	$	(518	)	$	18		$	(5,400	)
Investment income														2,661						2,661
Change in fair value of equity securities														682						682
Interest expense														(1,506	)					(1,506	)
Income (loss) before equity earnings in Affiliate and income taxes	$	(2,216	)	$	(2,543	)	$	(4,759	)	$	(141	)	$	1,319		$	18		$	(3,563	)