INCOME TAXES

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

INCOME TAXES

9. INCOME TAXES

The current and deferred components of the provision for income taxes are as follows (unaudited):

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Current:
Ireland	$	9,405	$	1,944	$	26,196	$	3,433
Cayman Islands	—		—		—		—
Bermuda	5,552		—		7,265		—
United States:
Federal	2,408		7,615		2,408		7,859
State and local	10		1,155		724		1,545
Other Non-Ireland including Pillar Two top-up tax	5,253		48		5,287		101
Total current provision	22,628		10,762		41,880		12,938
Deferred:
Ireland	6,879		17,212		14,158		30,912
Cayman Islands	—		—		—		—
Bermuda	(3,459)		6,195		1,679		10,636
United States:
Federal	(861)		4,206		2,104		5,432
State and local	486		2,068		724		2,446
Other Non-Ireland	(54)		(2,565)		(3,466)		(1,627)
Total deferred provision	2,991		27,116		15,199		47,799
Total provision for income taxes	$	25,619	$	37,878	$	57,079	$	60,737

The Company is incorporated in the Cayman Islands where income taxes are not imposed. Taxable income or loss generated by the Company’s corporate subsidiaries is subject to Irish, U.S. federal, state and foreign corporate income tax in locations where they conduct business.

The Company’s effective tax rate differs from the Irish statutory rate of 12.5% primarily due to the impact of Pillar II and the portion of its income that is subject to taxation in jurisdictions other than Ireland.

As of and for the six months ended June 30, 2026, the Company had not established a liability for uncertain tax positions as no such positions existed. In general, the Company’s tax returns and the tax returns of its corporate subsidiaries are subject to U.S. federal, state, local and foreign income tax examinations by tax authorities. Generally, the Company is not subject to examination by taxing authorities for tax years prior to 2022. The Company does not believe that it is reasonably possible that the total amount of unrecognized tax benefits will significantly change within 12 months of the reporting date.