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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in one reportable segment providing personal property and casualty insurance products within the United States and Europe, including the UK. Insurance coverage under the homeowners multi-peril, inland marine and general liability and private passenger auto lines of business are offered to individual customers through its direct to consumer distribution channel which follows the same underwriting and claims process. The Company's Chief Operating Decision Maker (CODM) is the Chief Executive Officer. The CODM manages the Company’s operations, evaluates the operating performance and decides on allocation of resources based on segment / consolidated net income (loss). Loss and loss adjustment expenses and advertising expenses (growth spend), as included in “Sales and Marketing expenses”, in the condensed consolidated statements of operations and comprehensive income, represents the significant expenses which are regularly provided and reviewed by the CODM. The operating results of the personal property and casualty insurance reportable segment is presented in the following table below:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Total revenue$164.1 $122.0 $315.3 $241.1 
less: Loss and loss adjustment expenses, net77.5 70.5 162.9 136.4 
         Other insurance expense21.4 18.8 47.5 36.1 
         Sales and marketing9.9 11.0 15.0 21.6 
         Advertising expenses49.7 25.8 87.8 45.6 
         Technology development22.4 21.2 44.4 42.1 
         General and administrative28.8 23.3 56.9 47.6 
         Interest expense4.0 1.0 7.3 1.5 
         Depreciation and amortization4.7 5.2 9.2 10.2 
         Other expenses (1)
(11.7)0.3 (11.7)0.3 
         Income tax expense1.3 2.1 2.3 4.2 
Segment / Consolidated Net Loss$(43.9)$(57.2)$(106.3)$(104.5)
(1) Includes $11.7 million of tax refund under the ERC program (See Note 12).
The measure of segment assets is based on total assets as reported on the consolidated balance sheets. The Company does not allocate its assets, including investments, or income taxes in evaluating the segment / consolidated net income (loss).
The Company has a single reportable segment and offers insurance coverage under the homeowners multi-peril, inland marine, general liability and private passenger auto lines of business. Gross written premium includes direct and assumed premium related to car insurance policies written in Texas, in connection with our fronting arrangement with a third party carrier in Texas. Gross written premium by jurisdiction are as follows ($ in millions):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
JurisdictionAmount% of GWPAmount% of GWPAmount% of GWPAmount% of GWP
California$61.3 21.5 %$55.3 24.4 %$121.7 22.6 %$110.6 25.6 %
Texas38.8 13.6 %35.9 15.9 %71.3 13.2 %65.9 15.3 %
New York27.0 9.5 %22.8 10.1 %52.9 9.8 %43.8 10.1 %
Washington14.5 5.1 %9.1 4.0 %27.5 5.1 %17.1 4.0 %
Illinois14.1 5.0 %10.9 4.8 %25.7 4.8 %20.6 4.8 %
New Jersey12.8 4.5 %10.7 4.7 %24.5 4.5 %20.4 4.7 %
Colorado10.7 3.8 %8.2 3.6 %17.5 3.2 %14.1 3.3 %
Pennsylvania8.3 2.9 %6.1 2.7 %15.3 2.8 %11.2 2.6 %
Florida8.2 2.9 %4.3 1.9 %14.5 2.7 %7.4 1.7 %
Georgia7.4 2.6 %6.8 3.0 %13.9 2.6 %12.4 2.9 %
All other71.8 25.2 %52.7 23.3 %134.9 25.2 %101.8 23.5 %
US274.9 96.6 %222.8 98.5 %$519.7 96.5 %$425.3 98.5 %
Europe and UK9.6 3.4 %3.4 1.5 %19.0 3.5 %6.5 1.5 %
Total$284.5 100.0 %$226.2 100.0 %$538.7 100.0 %$431.8 100.0 %