Supplemental Balance Sheet and Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Restricted Assets

The following table presents the components of the Company's restricted assets as of March 31, 2026 and December 31, 2025:

	March 31,		December 31,
	2026		2025
	in thousands
Restricted cash and cash equivalents	$	154,362	$	138,823
Fixed maturity securities	555,902		675,302
Equity securities	—		34,871
Total restricted assets	$	710,264	$	848,996

Schedule of Assets and Liabilities of Consolidated Variable Interest Entities

The following table presents the assets and liabilities of the Company's consolidated VIEs as of March 31, 2026 and December 31, 2025:

	March 31,		December 31,
	2026		2025
ASSETS	in thousands
Cash and cash equivalents	$	1,686	$	697
Restricted cash and cash equivalents	5,281		17,005
Notes receivable	142,420		81,740
Other assets	1,578		1,748
TOTAL ASSETS	$	150,965	$	101,190
LIABILITIES
Accounts payable and accrued expenses	$	649	$	524
Debt, net	110,493		68,423
Other liabilities	1,218		1,658
TOTAL LIABILITIES	$	112,360	$	70,605

Schedule of Supplemental Cash Flow Information

The table below presents information regarding the Company's non-cash investing and financing activities, as well as the cash paid for interest and taxes for the three months ended March 31, 2026 and 2025:

	Three months ended March 31,
	2026		2025
Non-cash investing activities:	in thousands
Issuance of notes receivable (1)	$	7,142	$	9,553
Collection of notes receivable (1)	$	1,734	$	1,884
Capital expenditures	$	1,693	$	908
Non-cash financing activities:
Exchange of THG units for shares of Class A Common Stock (Refer to Note 16)	$	698	$	234
Issuance of shares of Class A Common Stock resulting from the vesting of RSUs (Refer to Note 17)	$	100	$	100
Cash paid for interest	$	2,701	$	1,807
Cash paid for income taxes	$	230	$	101

(1)    In certain situations, BAC makes loans to refinance accounts receivable balances generated by Broad Arrow Group, Inc. ("Broad Arrow") auctions and private sales. These loans are accounted for on the Condensed Consolidated Balance Sheets as non-cash reclassifications between "Accounts receivable" and "Notes receivable" and are not presented within Investing Activities in the Company's Condensed Consolidated Statements of Cash Flows. Upon repayment, the cash received in settlement of such loans is classified within Operating Activities in the Company's Condensed Consolidated Statements of Cash Flows.