|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
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|---|---|---|
| Cash flows from operating activities: | ||
| Net income | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Net realized investment gains (losses) | ||
| Amortization of premium/discounts on fixed maturity securities | ||
| Stock‐based compensation | ||
| Depreciation and amortization | ||
| Amortization expense | ||
| Non-cash loss on extinguishment of credit facility | ||
| Non-cash lease expense | ||
| Deferred income taxes | ||
| Warrant expense | ||
| Net changes in operating assets and liabilities: | ||
| Accrued investment income | ||
| Premium balances receivable | ||
| Reinsurance recoverable | ||
| Prepaid reinsurance premiums | ||
| Deferred policy acquisition costs | ||
| Income taxes receivable | ||
| Other assets | ||
| Reserve for losses and loss expenses | ||
| Unearned premium | ||
| Reinsurance balances payable | ||
| Accrued expenses | ||
| Income taxes payable | ||
| Other liabilities | ||
| Net cash provided by operating activities | ||
| Net cash used in investing activities | ||
| Purchases of: | ||
| Fixed maturity securities | ||
| Short-term investments | ||
| Proceeds from the sale and maturity of: | ||
| Fixed maturity securities | ||
| Short-term investments | ||
| Purchase of property and equipment, net | ||
| Net cash used in investing activities | ||
| Net cash provided by (used in) financing activities | ||
| Capital contribution from parent | ||
| Capital distribution to parent | ||
| Proceeds from share issuance related to equity awards | ||
| Taxes paid on withholding shares | ||
| Proceeds from initial public offering, net | ||
| Proceeds from debt | ||
| Payments related to loss extinguishment of credit facility | ||
| Debt issuance costs | ||
| Net cash provided by (used in) financing activities | ||
| Net change in cash, cash equivalents and restricted cash | ||
| Cash, cash equivalents and restricted cash, beginning of period | ||
| Cash, cash equivalents and restricted cash, end of period | ||
| Supplemental disclosures of cash flow information: | ||
| Income taxes paid | ||
| Reconciliation of restricted cash | ||
| Cash and cash equivalents | ||
| Restricted cash and cash equivalents |
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