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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Investments    
Fixed maturities available-for-sale, at fair value (amortized cost: $693.1 million and $673.5 million as of June 30, 2023 and December 31, 2022, respectively) $ 676.8 $ 650.3
Short-term investments (cost: $71.2 million and $99.9 million as of June 30, 2023 and December 31, 2022, respectively) 71.3 99.8
Total investments 748.1 750.1
Cash, cash equivalents and restricted cash 193.8 286.5
Premium receivable, net of allowance for credit losses of $2.4 million and $2.7 million as of June 30, 2023 and December 31, 2022, respectively 197.8 179.6
Reinsurance recoverable 164.4 156.8
Prepaid reinsurance premium 166.6 164.5
Deferred acquisition costs 6.6 6.9
Property and equipment, net 19.0 19.6
Intangible assets 27.5 32.5
Goodwill 19.0 19.0
Other assets 70.3 75.2
Total assets 1,613.1 1,690.7
Liabilities and Stockholders' Equity    
Unpaid loss and loss adjustment expense 255.6 256.2
Unearned premium 315.9 288.0
Trade payables 0.7 1.1
Funds held for reinsurance treaties 129.3 136.0
Deferred ceding commission 41.6 39.7
Ceded premium payable 19.2 18.4
Other liabilities and accrued expenses 79.8 84.5
Total liabilities 842.1 823.9
Contingencies (Note 15)
Stockholders' equity    
Common stock, $0.00001 par value, 200,000,000 shares authorized; 69,668,176 and 69,275,030 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 0.0 0.0
Additional paid-in capital 1,784.7 1,754.1
Accumulated deficit (992.7) (859.7)
Accumulated other comprehensive loss (21.0) (27.6)
Total stockholders' equity 771.0 866.8
Total liabilities and stockholders' equity $ 1,613.1 $ 1,690.7