Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Invested assets:
Fixed maturity securities, available-for-sale, at fair value (amortized cost: 2025 – $1,364,455; 2024 – $1,278,337)	$ 1,300,217	$ 1,189,733
Equity securities, at fair value (cost: 2025 – $84,173; 2024 – $82,678)	88,042	86,479
Bank loan participations, at fair value	158,871	142,410
Short-term investments	111,216	97,074
Other invested assets	58,140	36,700
Total invested assets	1,716,486	1,552,396
Cash and cash equivalents	220,041	362,345
Restricted cash equivalents	29,321	28,705
Accrued investment income	11,704	10,534
Premiums receivable and agents’ balances, net	248,097	243,882
Reinsurance recoverable on unpaid losses, net	1,985,830	1,996,913
Reinsurance recoverable on paid losses	122,989	101,210
Prepaid reinsurance premiums	296,173	296,635
Deferred policy acquisition costs	30,513	30,175
Intangible assets, net	32,268	32,450
Goodwill	181,831	181,831
Other assets	143,069	170,000
Total assets	5,018,322	5,007,076
Liabilities:
Reserve for losses and loss adjustment expenses	3,076,498	3,084,406
Unearned premiums	570,980	572,034
Payables to reinsurers	133,358	132,922
Funds held	25,157	25,157
Deferred reinsurance gain	65,281	57,970
Senior debt	225,800	200,800
Junior subordinated debt	104,055	104,055
Accrued expenses	44,306	53,178
Other liabilities	147,214	182,524
Total liabilities	4,392,649	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; 45,895,335 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	936,255	933,311
Retained deficit	(392,958)	(402,408)
Accumulated other comprehensive loss	(50,748)	(69,997)
Total shareholders’ equity	492,558	460,915
Total liabilities, Series A redeemable preferred shares, and shareholders’ equity	$ 5,018,322	$ 5,007,076