Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Invested assets:
Fixed maturity securities, available-for-sale, at fair value (amortized cost: 2025 – $1,330,102; 2024 – $1,278,337)	$ 1,259,627	$ 1,189,733
Equity securities, at fair value (cost: 2025 – $83,236; 2024 – $82,678)	87,746	86,479
Bank loan participations, at fair value	144,014	142,410
Short-term investments	79,091	97,074
Other invested assets	52,768	36,700
Total invested assets	1,623,246	1,552,396
Cash and cash equivalents	279,427	362,345
Restricted cash equivalents	29,012	28,705
Accrued investment income	10,567	10,534
Premiums receivable and agents’ balances, net	205,965	243,882
Reinsurance recoverable on unpaid losses, net	1,984,292	1,996,913
Reinsurance recoverable on paid losses	127,627	101,210
Prepaid reinsurance premiums	275,054	296,635
Deferred policy acquisition costs	27,844	30,175
Intangible assets, net	32,359	32,450
Goodwill	181,831	181,831
Other assets	171,791	170,000
Total assets	4,949,015	5,007,076
Liabilities:
Reserve for losses and loss adjustment expenses	3,081,540	3,084,406
Unearned premiums	526,506	572,034
Payables to reinsurers	94,372	132,922
Funds held	25,157	25,157
Deferred reinsurance gain	56,042	57,970
Senior debt	225,800	200,800
Junior subordinated debt	104,055	104,055
Accrued expenses	39,196	53,178
Other liabilities	178,752	182,524
Total liabilities	4,331,420	4,413,046
Commitments and contingent liabilities (Note 8)
Series A redeemable preferred shares – 2025 and 2024: 165,000 shares authorized; 112,500 shares issued and outstanding	133,115	133,115
Shareholders’ equity:
Common shares – 2025 and 2024: $0.0002 par value; 200,000,000 shares authorized; 45,892,706 and 45,644,318 shares issued and outstanding, respectively	9	9
Preferred Shares – 2025 and 2024: $0.00125 par value; 19,835,000 shares authorized; no shares issued and outstanding	0	0
Additional paid-in capital	935,426	933,311
Retained deficit	(395,280)	(402,408)
Accumulated other comprehensive loss	(55,675)	(69,997)
Total shareholders’ equity	484,480	460,915
Total liabilities, Series A redeemable preferred shares, and shareholders’ equity	$ 4,949,015	$ 5,007,076