| Metric | FY2025 | FY2024 |
|---|---|---|
| Fixed-maturity securities available-for-sale, at fair value (amortized cost: $546,755 in 2025 and $434,965 in 2024) | $558.4M+27.3% | $438.8M |
| Utility & Infrastructure Investments, at fair value (cost of $15,135 in 2025 and $21,168 in 2024) | $189.9M-29.7% | $270.2M |
| Short-term investments | $220.2M+318.6% | $52.6M |
| Loans to affiliates | $106.5M+688.8% | $13.5M |
| Other invested assets | $280K+0.0% | $280K |
| Total invested assets | $1.08B+38.7% | $775.4M |
| Cash and cash equivalents | $29.7M+11.8% | $26.6M |
| Investment income due and accrued | $10.2M+80.5% | $5.6M |
| Premiums receivable, net of allowance for credit losses of $8,754 in 2025 and $5,907 in 2024 | $75.2M+40.6% | $53.5M |
| Deferred policy acquisition costs, net of ceding commissions | $30.2M+40.1% | $21.6M |
| Prepaid reinsurance premiums | $2.9M-25.0% | $3.9M |
| Deferred income tax asset, net | $13.3M+37.4% | $9.7M |
| Reinsurance recoverable, net of allowance for credit losses of $0 in 2025 and 2024 | $150.4M+12.6% | $133.6M |
| Ceded unearned premiums | $74.3M+9.0% | $68.2M |
| Other assets | $12.7M-49.9% | $25.4M |
| Total assets | $1.47B+31.2% | $1.12B |
| Reserves for unpaid losses and loss adjustment expenses | $502.2M+24.4% | $403.6M |
| Unearned premiums | $281.9M+32.4% | $212.8M |
| Securities sold, not yet purchased, at fair value (cost of $0 in 2025 and $932 in 2024) | $0-100.0% | $930K |
| Payable to reinsurers | $31.1M+14.4% | $27.2M |
| Due to broker | $0-100.0% | $9.2M |
| Due to affiliates | $31.7M-16.8% | $38.1M |
| Funds held under reinsurance treaties | $1.5M-26.1% | $2.1M |
| Income tax payable | $8.4M-68.2% | $26.5M |
| Other liabilities | $2.6M-38.9% | $4.3M |
| Total liabilities | $859.5M+18.6% | $724.6M |
| Preferred stock, $0.001 par value,100,000,000 shares authorized and none issued or outstanding. | $0 | $0 |
| Common stock, $0.001 par value, 500,000,000 shares authorized, 48,066,674 and 38,386,433 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively. | $48K+26.3% | $38K |
| Additional paid-in capital | $496.5M+37.6% | $360.7M |
| Retained earnings | $108.6M+214.1% | $34.6M |
| Accumulated other comprehensive income | $9.2M+207.6% | $3.0M |
| Total stockholders' equity | $614.3M+54.2% | $398.3M |
| Non-controlling interest - General Partner | $550K+10.0% | $500K |
| Total stockholders' equity and non-controlling interest | $614.9M+54.2% | $398.8M |
| Total liabilities, stockholders' equity and non-controlling interest | $1.47B+31.2% | $1.12B |
Source: SEC EDGAR XBRL. % change vs prior period shown where available.
Source: SEC EDGAR 10-K and 10-Q filings. Up to 10 years annual / 16 quarters shown.