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10-Q Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Investments              
Fixed maturity securities, available for sale, at fair value (amortized cost of $721,782 and $569,013, respectively) $ 706,199   $ 554,624     $ 236,888  
Short-term investments, at amortized cost, which approximates fair value 12,712   8,824     46,035  
Total investments 718,911   563,448     282,923  
Cash and cash equivalents 180,324   118,070 $ 72,623   64,659  
Restricted cash and cash equivalents 18,494   1,698 10,396   15,992  
Accrued investment income 6,728   4,660     1,231  
Premium balances receivable 69,495   38,817     29,487  
Reinsurance recoverable 192,025   139,389     63,531  
Prepaid reinsurance premiums 133,992   116,732     74,541  
Deferred policy acquisition costs 24,564   19,407     13,672 $ 7,909
Property and equipment, net 7,481   7,601     6,050  
Income taxes receivable 1,320   1,107     0  
Deferred tax assets, net 17,071   14,229     11,281  
Other assets 24,768   2,701     1,840  
Total assets 1,395,173   1,027,859     565,207  
Liabilities              
Reserve for losses and loss adjustment expenses 587,905   431,186 301,502   207,051 47,952
Unearned premiums 391,802   344,704     231,743  
Reinsurance balances payable 45,767   40,440     23,687  
Income taxes payable 29   42     1,517  
Accrued expenses 11,287   14,900     12,028  
Other liabilities 18,472   4,510     5,807  
Total liabilities 1,055,262   835,782     481,833  
Commitments and contingencies (Note 13)        
Mezzanine equity              
Performance stock units 46 $ 0 0 0 $ 0 0  
Stockholders' equity              
Common stock 327   240     240  
Additional paid-in capital 314,636   178,543     100,204  
Accumulated other comprehensive loss (12,309)   (11,372)     (16,689)  
Retained earnings 37,211   24,666     (381)  
Total stockholders' equity 339,865   192,077     83,374 $ 88,725
Total mezzanine equity and stockholders' equity 339,911 $ 201,237 192,077 $ 126,641 $ 109,647 83,374  
Total liabilities, mezzanine equity and stockholders' equity $ 1,395,173   $ 1,027,859     $ 565,207