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Investments (Tables)
 6 Months Ended
Jun. 30, 2025
Investments [Abstract]  
Schedule of Gain and Losses on Investments
The following table summarizes investment income and realized gains and losses on investments during the periods presented.
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Investment income, net of investment expenses$2,681 $3,574 $5,519 $7,238 
Realized gains on investments181 26 256 40 
Realized losses on investments(197)(74)(300)(108)
Investment income and realized gains and losses, net of investment expenses$2,665 $3,526 $5,475 $7,170 
Schedule of Amortized Cost, Market Value and Unrealized Gains (Losses) of Debt Securities
The following tables summarize the amortized cost, fair value, and unrealized gains and losses of investment securities.
June 30, 2025
Amortized CostGross UnrealizedFair Value
GainsLosses
U.S. Treasuries$9,943 $88 $— $10,031 
Obligations of states, municipalities and political subdivisions3,513 38 — 3,551 
Corporate bonds10,950 171 — 11,121 
Residential and commercial mortgage-backed securities8,184 89 (2)8,271 
Other loan-backed and structured securities— — — — 
Total investment securities(1)$32,590 $386 $(2)$32,974 
____________________________________
(1)Represents total investment securities held by our captive reinsurance business as collateral for the benefit of HOA.
December 31, 2024
Amortized CostGross UnrealizedFair Value
GainsLosses
U.S. Treasuries$27,489 $34 $(421)$27,102 
Obligations of states, municipalities and political subdivisions12,602 26 (756)11,872 
Corporate bonds72,996 192 (2,292)70,896 
Residential and commercial mortgage-backed securities62,721 85 (2,032)60,774 
Other loan-backed and structured securities12,335 28 (256)12,107 
Total investment securities$188,143 $365 $(5,757)$182,751 
The following table summarizes the amortized cost, fair value, and unrealized gains and losses of investment securities held by the Reciprocal.
June 30, 2025
Amortized CostGross UnrealizedFair Value
GainsLosses
U.S. Treasuries$9,480 $65 $(227)$9,318 
Obligations of states, municipalities and political subdivisions13,653 73 (471)13,255 
Corporate bonds75,540 665 (1,227)74,978 
Residential and commercial mortgage-backed securities60,469 301 (1,164)59,606 
Other loan-backed and structured securities15,049 105 (167)14,987 
Total investment securities held by the consolidated VIE$174,191 $1,209 $(3,256)$172,144 
Schedule of Remaining Time to Maturity
The amortized cost and fair value of securities held by our captive reinsurance business at June 30, 2025, by contractual maturity, are shown in the following table. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
June 30, 2025
Remaining Time to MaturityAmortized CostFair Value
Due in one year or less$3,098 $3,104 
Due after one year through five years16,138 16,348 
Due after five years through ten years5,170 5,251 
Due after ten years— — 
Residential and commercial mortgage-backed securities8,184 8,271 
Other loan-backed and structured securities— — 
Total(1)$32,590 $32,974 
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(1)Represents total investment securities held by our captive reinsurance business as collateral for the benefit of HOA.
The amortized cost and fair value of securities held by the Reciprocal at June 30, 2025, by contractual maturity, are shown in the following table. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
June 30, 2025
Remaining Time to MaturityAmortized CostFair Value
Due in one year or less$2,396 $2,333 
Due after one year through five years37,509 37,090 
Due after five years through ten years36,610 36,152 
Due after ten years22,158 21,976 
Residential and commercial mortgage-backed securities60,469 59,606 
Other loan-backed and structured securities15,049 14,987 
Total$174,191 $172,144 
Schedule of Securities With Gross Unrealized Loss Position
Securities held by our captive reinsurance business with gross unrealized loss position, aggregated by investment category and length of time the individual securities have been in a continuous loss position, are as follows:
Less Than Twelve MonthsTwelve Months or GreaterTotal
As of June 30, 2025Gross
Unrealized
Loss		Fair
Value		Gross
Unrealized
Loss		Fair
Value		Gross
Unrealized
Loss		Fair
Value
U.S. Treasuries$— $1,654 $— $— $— $1,654 
Obligations of states, municipalities and political subdivisions— — — — — — 
Corporate bonds— 200 — — — 200 
Residential and commercial mortgage-backed securities(2)367 — — (2)367 
Other loan-backed and structured securities— — — — — — 
Total securities(1)$(2)$2,221 $— $— $(2)$2,221 
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(1)Represents total investment securities held by our captive reinsurance business as collateral for the benefit of HOA
Less Than Twelve MonthsTwelve Months or GreaterTotal
As of December 31, 2024Gross
Unrealized
Loss		Fair
Value		Gross
Unrealized
Loss		Fair
Value		Gross
Unrealized
Loss		Fair
Value
U.S. Treasuries$(376)$7,881 $(45)$525 $(421)$8,406 
Obligations of states, municipalities and political subdivisions(652)7,738 (104)1,175 (756)8,913 
Corporate bonds(2,063)47,045 (229)3,100 (2,292)50,145 
Residential and commercial mortgage-backed securities(1,671)49,585 (361)2,691 (2,032)52,276 
Other loan-backed and structured securities(249)6,976 (7)49 (256)7,025 
Total securities$(5,011)$119,225 $(746)$7,540 $(5,757)$126,765 
Securities held by the Reciprocal with gross unrealized loss position, aggregated by investment category and length of time the individual securities have been in a continuous loss position, are as follows:
Less Than Twelve MonthsTwelve Months or GreaterTotal
As of June 30, 2025Gross
Unrealized
Loss		Fair
Value		Gross
Unrealized
Loss		Fair
Value		Gross
Unrealized
Loss		Fair
Value
U.S. Treasuries$(188)$4,432 $(39)$124 $(227)$4,556 
Obligations of states, municipalities and political subdivisions(387)6,140 (84)1,142 (471)7,282 
Corporate bonds(1,083)17,511 (144)2,310 (1,227)19,821 
Residential and commercial mortgage-backed securities(878)28,875 (286)2,041 (1,164)30,916 
Other loan-backed and structured securities(162)3,534 (5)49 (167)3,583 
Total securities held by the consolidated VIE$(2,698)$60,492 $(558)$5,666 $(3,256)$66,158