Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

Financial instruments measured at fair value on a recurring basis as of June 30, 2025 and December 31, 2024, are summarized below by level within the fair value hierarchy:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
June 30, 2025	(in thousands)
Assets
Fixed-maturity securities, available-for-sale:
U.S. Treasury securities and obligations guaranteed by the U.S. Government	$	—	$	2,119	$	—	$	2,119
Corporate	—		416,412		—		416,412
Commercial and residential mortgage and other asset-backed	—		716		—		716
Total fixed-maturity securities, available-for-sale	—		419,247		—		419,247
Total assets	$	—	$	419,247	$	—	$	419,247

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
December 31, 2024	(in thousands)
Assets
Fixed-maturity securities, available-for-sale:
U.S. Treasury securities and obligations guaranteed by the U.S. Government	$	—	$	84,195	$	—	$	84,195
Corporate	—		353,805		—		353,805
Commercial and residential mortgage and other asset-backed	—		752		—		752
Total fixed-maturity securities, available-for-sale	—		438,752		—		438,752
Total assets	$	—	$	438,752	$	—	$	438,752
Liabilities
Securities sold, not yet purchased:
U.S. Treasury securities	$	—	$	(930)	$	—	$	(930)
Total liabilities	$	—	$	(930)	$	—	$	(930)