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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Investments    
Fixed maturities available-for-sale, at fair value (amortized cost: $714.5 million and $696.8 million as of March 31, 2022 and December 31, 2021) $ 694.7 $ 691.4
Short-term investments (cost: $83.3 million and $110.4 million as of March 31, 2022 and December 31, 2021) 83.2 110.4
Total investments 777.9 801.8
Cash, cash equivalents and restricted cash 235.0 270.6
Premium receivable, net of allowance for credit losses of $1.9 million and $1.6 million as of March 31, 2022 and December 31, 2021 135.6 127.0
Reinsurance recoverable 112.5 89.8
Prepaid reinsurance premium 156.7 149.6
Deferred acquisition costs 6.7 6.2
Property and equipment, net 13.0 11.7
Intangible assets 0.6 0.6
Other assets 57.4 53.2
Total assets 1,495.4 1,510.5
Liabilities and Stockholders' Equity    
Unpaid loss and loss adjustment expense 107.6 97.9
Unearned premium 222.4 207.7
Trade payables 2.6 1.0
Funds held for reinsurance treaties 108.2 103.1
Deferred ceding commission 38.8 36.5
Ceded premium payable 34.8 18.7
Total other liabilities and accrued expenses 68.3 57.4
Total liabilities 582.7 522.3
Commitments and contingencies (Note 15)
Stockholders' equity    
Common stock, $0.00001 par value, 200,000,000 shares authorized; 61,758,739 and 61,660,996 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively 0.0 0.0
Additional paid-in capital 1,568.2 1,553.5
Accumulated deficit (636.7) (561.9)
Accumulated other comprehensive loss (18.8) (3.4)
Total stockholders' equity 912.7 988.2
Total liabilities and stockholders' equity $ 1,495.4 $ 1,510.5