Pledged Investments	9 Months Ended
Sep. 30, 2023
Pledged Investments [Abstract]
Pledged Investments	7. Pledged Investments We have pledged certain of our securities for the benefit of various state insurance departments, reinsurers and fronting partners. These securities are included with our available-for-sale debt securities because we have the ability to trade these securities. We retain the investment income on these securities. These securities had a carrying value of $135.0 million and $40.9 million at September 30, 2023 and December 31, 2022, respectively. The increase from December 31, 2022 is related to the agreement entered into with an A.M. Best rated “A” insurance company on May 5, 2023 to front new and renewal business that requires an A.M. Best rating at or above a certain level. The carrying value of pledged investments associated with the aforementioned agreement is $118.7 million at September 30, 2023.

Pledged Investments

9 Months Ended

Sep. 30, 2023

7. Pledged Investments

We have pledged certain of our securities for the benefit of various state insurance departments, reinsurers and fronting partners. These securities are included with our available-for-sale debt securities because we have the ability to trade these securities. We retain the investment income on these securities. These securities had a carrying value of $135.0 million and $40.9 million at September 30, 2023 and December 31, 2022, respectively. The increase from December 31, 2022 is related to the agreement entered into with an A.M. Best rated “A” insurance company on May 5, 2023 to front new and renewal business that requires an A.M. Best rating at or above a certain level. The carrying value of pledged investments associated with the aforementioned agreement is $118.7 million at September 30, 2023.