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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Investments    
Fixed maturities available-for-sale, at fair value (amortized cost: $665.7 million and $673.5 million as of March 31, 2023 and December 31, 2022, respectively) $ 648.5 $ 650.3
Short-term investments (cost: $89.5 million and $99.9 million as of March 31, 2023 and December 31, 2022, respectively) 89.4 99.8
Total investments 737.9 750.1
Cash, cash equivalents and restricted cash 254.8 286.5
Premium receivable, net of allowance for credit losses of $2.7 million and $2.7 million as of March 31, 2023 and December 31, 2022, respectively 185.0 179.6
Reinsurance recoverable 153.7 156.8
Prepaid reinsurance premium 159.8 164.5
Deferred acquisition costs 6.9 6.9
Property and equipment, net 19.8 19.6
Intangible assets 29.8 32.5
Goodwill 19.0 19.0
Other assets 74.5 75.2
Total assets 1,641.2 1,690.7
Liabilities and Stockholders' Equity    
Unpaid loss and loss adjustment expense 245.2 256.2
Unearned premium 297.8 288.0
Trade payables 1.9 1.1
Funds held for reinsurance treaties 129.1 136.0
Deferred ceding commission 39.5 39.7
Ceded premium payable 20.9 18.4
Other liabilities and accrued expenses 85.0 84.5
Total liabilities 819.4 823.9
Contingencies (Note 15)
Stockholders' equity    
Common stock, $0.00001 par value, 200,000,000 shares authorized; 69,449,348 and 69,275,030 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 0.0 0.0
Additional paid-in capital 1,769.6 1,754.1
Accumulated deficit (925.5) (859.7)
Accumulated other comprehensive loss (22.3) (27.6)
Total stockholders' equity 821.8 866.8
Total liabilities and stockholders' equity $ 1,641.2 $ 1,690.7