CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Investments
Fixed maturities available-for-sale, at fair value (amortized cost: $706.0 million and $607.1 million as of December 31, 2025 and 2024, respectively)	$ 708.8	$ 607.4
Short-term investments (cost: $14.1 million and $27.5 million as of December 31, 2025 and 2024, respectively)	14.1	27.5
Total investments	722.9	634.9
Cash, cash equivalents and restricted cash	396.8	385.7
Premium receivable, net of allowance for credit losses of $4.1 million and $2.8 million as of December 31, 2025 and 2024, respectively	402.3	301.2
Reinsurance recoverable	153.4	170.4
Prepaid reinsurance premium	147.9	253.6
Deferred acquisition costs	12.1	12.2
Property and equipment, net	15.8	16.1
Intangible assets	8.1	13.6
Goodwill	19.0	19.0
Other assets	47.4	42.4
Total assets	1,925.7	1,849.1
Liabilities and Stockholders' Equity
Unpaid losses and loss adjustment expenses	303.1	298.1
Unearned premium	577.0	455.0
Trade payables	0.5	4.5
Funds held for reinsurance treaties	169.5	219.6
Deferred ceding commission	38.2	65.6
Ceded premium payable	23.9	23.8
Borrowings under financing agreement	158.1	83.4
Other liabilities and accrued expenses	121.8	105.7
Total liabilities	1,392.1	1,255.7
Stockholders' equity
Common stock, $0.00001 par value, 200,000,000 shares authorized as of December 31, 2025 and 2024; 75,907,215 shares and 72,720,866 shares issued and outstanding as of December 31, 2025 and 2024, respectively	0.0	0.0
Additional paid-in capital	1,991.5	1,898.3
Accumulated deficit	(1,464.3)	(1,298.8)
Accumulated other comprehensive income (loss)	6.4	(6.1)
Total stockholders' equity	533.6	593.4
Total liabilities and stockholders' equity	$ 1,925.7	$ 1,849.1