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Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Gross written premiums $ 1,172,319 $ 1,431,772 $ 1,508,660
Ceded written premiums (603,504) (850,918) (814,759)
Net written premiums 568,815 580,854 693,901
Change in net unearned premiums 31,473 19,342 14,104
Net earned premiums 600,288 600,196 708,005
Net investment income 83,440 93,089 84,046
Net realized and unrealized gains (losses) on investments (2,195) 3,625 10,441
Other income 6,081 10,716 9,517
Total revenues 687,614 707,626 812,009
Expenses:      
Losses and loss adjustment expenses 427,204 554,374 500,157
Other operating expenses 183,964 193,198 193,656
Other expenses 2,002 6,145 3,792
Interest expense 23,538 24,666 24,627
Amortization of intangible assets 363 363 363
Impairment of intangible assets 0 0 2,500
Total expenses 637,071 778,746 725,095
Income (loss) from continuing operations before income taxes 50,543 (71,120) 86,914
Income tax expense (benefit) on continuing operations:      
Current 13,821 3,562 31,677
Deferred (13,098) (11,196) (5,972)
Total income tax expense (benefit) 723 (7,634) 25,705
Net income (loss) from continuing operations 49,820 (63,486) 61,209
Discontinued operations (Note 2):      
Loss from discontinued operations 0 (13,583) (88,493)
Loss on disposal of discontinued operations (2,393) (4,051) (80,400)
Total loss from discontinued operations (2,393) (17,634) (168,893)
Net income (loss) 47,427 (81,120) (107,684)
Dividends on Series A preferred shares (7,876) (37,149) (10,500)
Net income (loss) available to common shareholders 39,551 (118,269) (118,184)
Other comprehensive income (loss):      
Net unrealized gains (losses), net of taxes of $9,372 in 2025, $(1,668) in 2024, and $6,384 in 2023 35,256 (6,276) 99,323
Total comprehensive income (loss) $ 82,683 $ (87,396) $ (8,361)
Basic      
Continuing operations (in dollars per share) $ 0.91 $ (2.60) $ 1.35
Discontinued operations (in dollars per share) (0.05) (0.46) (4.49)
Basic (in dollars per share) 0.86 (3.06) (3.14)
Diluted      
Continuing operations (in dollars per share) 0.83 (2.60) 1.34
Discontinued operations (in dollars per share) (0.04) (0.46) (4.47)
Diluted (in dollars per share) 0.79 (3.06) (3.13)
Dividend declared per common share (in dollars per share) $ 0.04 $ 0.16 $ 0.20
Weighted-average common shares outstanding:      
Basic (in shares) 45,968,359 38,685,003 37,618,660
Diluted (in shares) 60,013,622 38,685,003 37,810,440