|
FY2025
12 months to Dec 31, 2025
|
|
|---|---|
| OPERATING ACTIVITIES | |
| Net income | |
| Amortization of premium/discount on fixed-maturity securities, available-for-sale | |
| Net realized and unrealized gains (losses) on investments | |
| Net investment income | |
| Depreciation and amortization | |
| Share-based compensation | |
| Change in operating assets and liabilities: | |
| Deferred income taxes | |
| Investment income due and accrued | |
| Premiums receivable, net | |
| Deferred policy acquisition costs, net of ceding commissions | |
| Prepaid reinsurance premiums | |
| Reinsurance recoverable | |
| Ceded unearned premiums | |
| Other assets | |
| Reserves for unpaid losses and loss adjustment expenses | |
| Unearned premiums | |
| Payable to reinsurers | |
| Accounts payable and accrued expenses | |
| Funds held under reinsurance treaties | |
| Income tax payable | |
| Other liabilities | |
| Net cash provided by operating activities | |
| INVESTING ACTIVITIES | |
| Purchase of fixed-maturity securities, available-for-sale | |
| Proceeds from sale of fixed-maturity securities, available-for-sale | |
| Proceeds from maturities and redemptions of fixed-maturity securities, available-for-sale | |
| Purchases of Utility & Infrastructure Investments | |
| Proceeds from redemptions of Utility & Infrastructure Investments | |
| Loans to affiliates | |
| Purchase of property and equipment | |
| Change in Treasury bills, net | |
| Change in short-term investments, net | |
| Proceeds from sale of securities sold, not yet purchased | |
| Purchases to cover securities sold, not yet purchased | |
| Proceeds from sale of other invested assets | |
| Net cash used in investing activities | |
| FINANCING ACTIVITIES | |
| Proceeds from Issuance of Common Stock | |
| Payments of initial public offering costs | |
| Capital contributions | |
| Payments for share repurchases | |
| Capital distribution | |
| Net cash provided by (used in) financing activities | |
| Net change in cash and cash equivalents | |
| Cash and cash equivalents, at beginning of period | |
| Cash and cash equivalents, at end of period | |
| Supplementary cash flow information: | |
| Cash paid for interest | |
| Cash paid (received) for taxes | |
| Supplementary non-cash investing and financing activities: | |
| Common stock issued in exchange for U.S. Treasury bills |
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