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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
OPERATING ACTIVITIES          
Net income $ 17,617 $ 4,116 $ 26,067 $ 13,074  
Adjustments to reconcile net income to net cash provided by operating activities     24,729 51,651  
Net cash provided by operating activities     50,796 64,725  
INVESTING ACTIVITIES          
Purchase of fixed-maturity securities, available-for-sale     (231,370) (208,007)  
Proceeds from sale of fixed-maturity securities, available-for-sale     253,709 47,364  
Proceeds from maturities and redemptions of fixed-maturity securities, available-for-sale     576 8,700  
Sale of equity securities     0 91  
Purchases of Utility & Infrastructure Investments     (10,000) 0  
Proceeds from redemptions of Utility & Infrastructure Investments     106,196 414  
Loans to affiliates     (94,000) 0  
Purchase of software     (4,155) 0  
Purchase of other assets     (59) (74)  
Change in Treasury bills, net     (14,612) (39,199)  
Change in short-term investments, net     (192,172) (41,268)  
Proceeds from sale of securities sold, not yet purchased     0 107  
Purchases to cover securities sold, not yet purchased     0 (373)  
Proceeds from sale of other invested assets     0 415  
Net cash used in investing activities     (185,887) (231,830)  
FINANCING ACTIVITIES          
Proceeds from issuance of common shares, net     121,710 0  
Payments of initial public offering costs     (2,806) 0  
Capital contributions     22,741 0  
Payments for share repurchases     (2,741) 0  
Capital distribution     (6,857) (414)  
Net cash provided by (used in) financing activities     132,047 (414)  
Net change in cash and cash equivalents     (3,044) (167,519)  
Cash and cash equivalents, at beginning of period     26,573 264,646 $ 264,646
Cash and cash equivalents, at end of period $ 23,529 $ 97,127 23,529 97,127 $ 26,573
Supplementary cash flow information:          
Cash paid for interest     889 1,087  
Income taxes paid     $ 9,000 $ 0