Revenue
Cost
Profit
| Item | Category | Value | YoY |
|---|---|---|---|
| Total revenues | revenue | 189.66M | -11.08% |
| Income before income tax | profit | 35.87M | 16.03% |
| Total expenses | cost | 153.79M | -15.68% |
| Net income | profit | 35.75M | 20.67% |
| Income tax expense (benefit) | cost | 115000 | -91.03% |
| Net loss and loss adjustment expenses incurred | cost | 91.16M | -25.82% |
| Acquisition costs | cost | 48.96M | 4.47% |
| Underwriting expenses | cost | 7.80M | 22.76% |
| Corporate and other expenses | cost | 5.74M | 22.90% |
| Interest expense | cost | 99000 | -93.24% |
| Deposit interest expense | cost | 32000 | -78.52% |
| Item | Category | Value | YoY |
|---|---|---|---|
| Investment in related party investment fund, at fair value | assets | 515.24M | |
| Fixed maturity investments, at fair value | assets | 150.90M | |
| Other investments | assets | 66.44M | |
| Total investments | assets | 732.59M | |
| Reinsurance balances receivable | assets | 672.46M | |
| Restricted cash and cash equivalents | assets | 535.15M | |
| Deferred policy acquisition cost | assets | 100.69M | |
| Reinsurance recoverable on unpaid loss and loss adjustment expenses | assets | 86.24M | |
| Cash and cash equivalents | assets | 75.09M | |
| Unearned premiums ceded | assets | 58.53M | |
| Other assets | assets | 8.53M | |
| Total allocated assets | assets | 2.27B | |
| Total liabilities | liabilities | 1.53B | |
| Total shareholders' equity | liabilities | 741.17M | |
| Total | liabilities | 966.34M | |
| Unearned premiums | liabilities | 414.31M | |
| Reinsurance payable | liabilities | 109.40M | |
| Funds held under reinsurance agreements, liability | liabilities | 22.36M | |
| Other liabilities | liabilities | 10.94M | |
| Debt | liabilities | 4.74M | |
| Additional paid in capital | liabilities | 476.38M | |
| Retained earnings (accumulated deficit) | liabilities | 261.43M | |
| Ordinary share capital (par value $0.10; issued and outstanding, xxx) (2025: par value $0.10; issued and outstanding, xxx) | liabilities | 3.37M |
| Item | Value |
|---|---|
| Unearned premium reserves | 52.61M |
| Net income | 35.75M |
| Reinsurance balances payable | 13.55M |
| Increase (decrease) in funds held under reinsurance agreements | 6.25M |
| Stock compensation expense | 2.43M |
| Change in unrealized gains losses on investments and derivatives | 234000 |
| Accretion of debt offering costs and change in interest accruals | 15000 |
| Increase (decrease) in deferred policy acquisition costs | -737000 |
| Loss and loss adjustment expense reserves | -1.62M |
| Increase (decrease) in reinsurance recoverable | -4.84M |
| Increase (decrease) in other operating assets and liabilities, net | -5.33M |
| Increase (decrease) in premiums receivable | -8.08M |
| Increase (decrease) in prepaid reinsurance premiums | -19.30M |
| Share of solasglas' net income (see note 3) | -33.69M |
| Item | Value |
|---|---|
| Proceeds from redemptions of investment in solasglas | 33.00M |
| Proceeds from sales of fixed maturity investments | 10.85M |
| Proceeds from redemptions and maturities of fixed maturity investments | 1.42M |
| Payments to acquire other productive assets | -32000 |
| Payments to acquire other investments | -3.14M |
| Payments to acquire equity method investments | -10.00M |
| Payment for acquisition, trading security, held-for-investment | -98.18M |
| Item | Value |
|---|---|
| Borrowings from debt facility | 5.00M |
| Repurchase of ordinary shares | -4.99M |
| Repayments of debt | -5.00M |
| Item | Value |
|---|---|
| Cash and cash equivalents, beginning of period | 643.73M |
| Cash and cash equivalents, end of period | 610.24M |
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