Schedule II — Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Schedule II — Condensed Financial Information of Registrant

	December 31,
	2023		2022
	($ in thousands, except share data)
Assets
Investments
Investment in subsidiaries	$	192,075	$	83,373
Total investments	192,075		83,373
Cash and cash equivalents	1		1
Total assets	$	192,076	$	83,374
Commitments and contingencies (Note 12)
Stockholders' equity
Common stock	$	240	$	240
($0.01 par value; 24,000,000 shares authorized, issued and outstanding as of December 31, 2023 and 2022)
Additional paid-in capital	178,542		100,204
Accumulated other comprehensive loss	(11,372)		(16,689)
Retained earnings	24,666		(381)
Total stockholders' equity	192,076		83,374
Total liabilities and stockholders' equity	$	192,076	$	83,374

	Years Ended December 31,
	2023		2022
	($ in thousands, except share and per share data)
Revenues
Gross written premiums	—		—
Ceded written premiums	—		—
Net written premiums	—		—
Change in net unearned premiums	—		—
Net earned premiums	—		—
Net investment income	—		—
Net realized investment gains	—		—
Other insurance-related income	—		—
Total revenues	—		—
Expenses
Net losses and loss adjustment expenses	—		—
Net acquisition costs	—		—
Operating expenses	—		—
Total expenses	—		—
Income before income taxes	—		—
Income tax expense	—		—
Income before net income of subsidiaries	—		—
Net income of subsidiaries	25,047		11,256
Net income	$	25,047	$	11,256
Other comprehensive income (loss)
Change in unrealized gain (loss) on investments	—		—
Other comprehensive income (loss) before other comprehensive loss of subsidiaries	—		—
Other comprehensive income (loss) of subsidiaries	5,317		(15,975)
Total comprehensive income (loss)	$	30,364	$	(4,719)

	December 31,
	2023		2022
	($ in thousands)
Cash flows from operating activities:
Net income	$	25,047	$	11,256
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net income of subsidiaries	(25,047)		(11,256)
Net cash provided by operating activities	—		—
Cash flows from investing activities:
Contribution to investment in subsidiary	$	(77,655)	$	(24,000)
Distribution from investment in subsidiary	—		25,000
Net cash used in (provided by) investing activities	(77,655)		1,000
Cash flows from financing activities:
Contribution from parent	77,655		24,000
Distribution to parent	—		(25,000)
Net cash provided by (used in) financing activities	77,655		(1,000)
Net change in cash, cash equivalents and restricted cash	$	—	$	—
Cash, cash equivalents and restricted cash, beginning of period	1		1
Cash, cash equivalents and restricted cash, end of period	$	1	$	1
Supplemental disclosures of cash flow information:
Cash paid for income taxes	$	—	$	—
Non-cash investing and financing activities:
Deemed contribution related to share-based compensation to investment in subsidiary	(682)		(368)
Deemed contribution to related to share-based compensation from parent	682		368