Global Indemnity (GBLI) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	GLOBAL INDEMNITY GROUP, LLC
Entity Central Index Key	0001494904
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-34809
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2619578
Entity Address, Address Line One	112 S. French Street
Entity Address, Address Line Two	Suite 105
Entity Address, City or Town	Wilmington
Entity Address, Country	DE
Entity Address, Postal Zip Code	19801
City Area Code	302
Local Phone Number	691-6276
Title of each class	Class A Common Shares
Trading Symbol	GBLI
Name of each exchange on which registered	NYSE
Class A Common Shares
Document Information [Line Items]
Entity Ordinary Shares, Shares Outstanding		9,894,230
Class B Common Shares
Document Information [Line Items]
Entity Ordinary Shares, Shares Outstanding		3,793,612

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fixed maturities:
Available for sale, at fair value (amortized cost: $1,404,854 and $1,322,092; net of allowance for expected credit losses of $0 at September 30, 2024 and December 31, 2023)	$ 1,395,229	$ 1,293,793
Equity securities, at fair value	12,347	16,508
Other invested assets	29,459	38,236
Total investments	1,437,035	1,348,537
Cash and cash equivalents	31,019	38,037
Premium receivables, net of allowance for expected credit losses of $3,486 at September 30, 2024 and $4,796 at December 31, 2023	73,425	102,158
Reinsurance receivables, net of allowance for expected credit losses of $8,992 at September 30, 2024 and December 31, 2023	76,393	80,439
Funds held by ceding insurers	27,194	16,989
Deferred federal income taxes	24,491	36,802
Deferred acquisition costs	40,855	42,445
Intangible assets	14,191	14,456
Goodwill	4,820	4,820
Prepaid reinsurance premiums	3,260	4,958
Receivable for securities	19	3,858
Federal income tax receivable	1,062	0
Lease right of use assets	8,519	9,715
Other assets	18,834	26,362
Total assets	1,761,117	1,729,576
Liabilities:
Unpaid losses and loss adjustment expenses	840,176	850,599
Unearned premiums	183,362	182,852
Ceded balances payable	963	2,642
Federal income tax payable	0	1,595
Contingent commissions	5,203	5,632
Lease liabilities	10,836	12,733
Other liabilities	33,851	24,770
Total liabilities	1,074,391	1,080,823
Commitments and contingencies (Note 10)
Shareholders’ equity:
Common shares: no par value; 900,000,000 common shares authorized; class A common shares issued: 11,181,998 and 11,042,670 respectively; class A common shares outstanding: 9,894,230 and 9,771,429, respectively; class B common shares issued and outstanding: 3,793,612 and 3,793,612, respectively	0	0
Additional paid-in capital	458,714	454,791
Accumulated other comprehensive income (loss), net of tax	(7,847)	(22,863)
Retained earnings	264,551	244,988
Total shareholders’ equity	686,726	648,753
Total liabilities and shareholders’ equity	1,761,117	1,729,576
Series A Cumulative Fixed Rate Preferred Shares
Shareholders’ equity:
Series A cumulative fixed rate preferred shares, $1,000 par value; 100,000,000 shares authorized, shares issued and outstanding: 4,000 and 4,000 shares, respectively, liquidation preference: $1,000 per share and $1,000 per share, respectively	4,000	4,000
Class A Common Shares
Shareholders’ equity:
Class A common shares in treasury, at cost: 1,287,768 and 1,271,241 shares, respectively	$ (32,692)	$ (32,163)

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Available for sale, amortized cost	$ 1,404,854	$ 1,322,092
Available-for-sale, net of allowance for expected credit losses	0	0
Premiums receivable, allowance for expected credit loss	3,486	4,796
Reinsurance receivable, allowance for expected credit loss	$ 8,992	$ 8,992
Common shares, par value	$ 0	$ 0
Common shares, shares authorized	900,000,000	900,000,000
Series A Cumulative Fixed Rate Preferred Shares
Preferred shares, par value	$ 1,000	$ 1,000
Preferred shares, shares authorized	100,000,000	100,000,000
Preferred shares, shares issued	4,000	4,000
Preferred shares, shares outstanding	4,000	4,000
Preferred shares, liquidation preference	$ 1,000	$ 1,000
Class A Common Shares
Common shares, shares issued	11,181,998	11,042,670
Common shares, shares outstanding	9,894,230	9,771,429
Treasury shares, shares	1,287,768	1,271,241
Class B Common Shares
Common shares, shares issued	3,793,612	3,793,612
Common shares, shares outstanding	3,793,612	3,793,612

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Gross written premiums	$ 99,767	$ 98,926	$ 293,961	$ 332,011
Ceded written premiums	(2,590)	(3,303)	(6,948)	(14,531)
Net written premiums	97,177	95,623	287,013	317,480
Change in net unearned premiums	(1,764)	16,072	(2,207)	63,443
Net earned premiums	95,413	111,695	284,806	380,923
Net investment income	16,488	14,200	46,319	39,424
Net realized investment gains (losses)	(512)	(133)	540	(2,414)
Other income	372	299	1,074	935
Total revenues	111,761	126,061	332,739	418,868
Losses and Expenses:
Net losses and loss adjustment expenses	52,400	65,116	159,446	231,199
Acquisition costs and other underwriting expenses	37,553	46,202	111,790	146,781
Corporate and other operating expenses	5,923	5,280	18,662	16,638
Interest expense	0	0	17	12
Income before income taxes	15,885	9,463	42,824	24,238
Income tax expense	3,125	1,763	8,605	4,707
Net income	12,760	7,700	34,219	19,531
Less: preferred stock distributions	110	110	330	330
Net income available to common shareholders	$ 12,650	$ 7,590	$ 33,889	$ 19,201
Net income available to common shareholders
Basic	$ 0.93	$ 0.56	$ 2.49	$ 1.42
Diluted	$ 0.92	$ 0.55	$ 2.48	$ 1.39
Weighted-average number of shares outstanding
Basic	13,664,542	13,522,874	13,617,960	13,556,665
Diluted	13,800,877	13,814,445	13,684,018	13,798,876
Cash distributions declared per common share	$ 0.35	$ 0.25	$ 1.05	$ 0.75

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 12,760	$ 7,700	$ 34,219	$ 19,531
Other comprehensive income (loss), net of tax:
Unrealized holding gains (losses)	9,513	(897)	14,314	4,183
Reclassification adjustment for losses included in net income	633	94	665	1,060
Unrealized foreign currency translation gains (losses)	58	(143)	37	(302)
Other comprehensive income (loss), net of tax	10,204	(946)	15,016	4,941
Comprehensive income, net of tax	$ 22,964	$ 6,754	$ 49,235	$ 24,472

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss), Net of Deferred Income Tax	Retained Earnings	Treasury Stock Common	Class A Common Shares Common Stock	Class A Common Shares Treasury Stock Common	Series A Cumulative Fixed Rate Preferred Shares Preferred Stock	Class B Common Shares Common Stock
Number at Dec. 31, 2022					802,381	10,876,041		4,000	3,793,612
Class A common shares purchased							468,860
Common shares issued under share incentive plans, net of forfeitures						75,541
Common shares issued to directors						68,592
Number at Sep. 30, 2023					1,271,241	11,020,174		4,000	3,793,612
Balance at Dec. 31, 2022		$ 451,305	$ (43,058)	$ 233,468	$ (19,486)			$ 4,000
Class A common shares purchased, at cost							$ (12,677)
Other comprehensive income (loss):
Change in unrealized holding gains (losses)			5,243
Unrealized foreign currency translation gains (losses)	$ (302)		(302)
Other comprehensive income (loss), net of tax	4,941		4,941
Net income	19,531			19,531
Preferred share distributions	(330)			(330)
Dividends/ Distribution to shareholders				(10,150)
Share compensation plans		3,111
Balance at Sep. 30, 2023	630,655	454,416	(38,117)	242,519	$ (32,163)			$ 4,000
Number at Jun. 30, 2023					1,271,241	11,000,287		4,000	3,793,612
Class A common shares purchased							0
Common shares issued under share incentive plans, net of forfeitures						0
Common shares issued to directors						19,887
Number at Sep. 30, 2023					1,271,241	11,020,174		4,000	3,793,612
Balance at Jun. 30, 2023		453,427	(37,171)	238,315	$ (32,163)			$ 4,000
Class A common shares purchased, at cost							$ 0
Other comprehensive income (loss):
Change in unrealized holding gains (losses)			(803)
Unrealized foreign currency translation gains (losses)	(143)		(143)
Other comprehensive income (loss), net of tax	(946)		(946)
Net income	7,700			7,700
Preferred share distributions	(110)			(110)
Dividends/ Distribution to shareholders				(3,386)
Share compensation plans		989
Balance at Sep. 30, 2023	630,655	454,416	(38,117)	242,519	$ (32,163)			$ 4,000
Number at Dec. 31, 2023					1,271,241	11,042,670		4,000	3,793,612
Class A common shares purchased							16,527
Common shares issued under share incentive plans, net of forfeitures						65,182
Common shares issued to directors						74,146
Number at Sep. 30, 2024					1,287,768	11,181,998		4,000	3,793,612
Balance at Dec. 31, 2023	648,753	454,791	(22,863)	244,988	$ (32,163)			$ 4,000
Class A common shares purchased, at cost							$ (529)
Other comprehensive income (loss):
Change in unrealized holding gains (losses)			14,979
Unrealized foreign currency translation gains (losses)	37		37
Other comprehensive income (loss), net of tax	15,016		15,016
Net income	34,219			34,219
Preferred share distributions	(330)			(330)
Dividends/ Distribution to shareholders				(14,326)
Share compensation plans		3,923
Balance at Sep. 30, 2024	686,726	458,714	(7,847)	264,551	$ (32,692)			$ 4,000
Number at Jun. 30, 2024					1,287,768	11,158,442		4,000	3,793,612
Class A common shares purchased							0
Common shares issued under share incentive plans, net of forfeitures						0
Common shares issued to directors						23,556
Number at Sep. 30, 2024					1,287,768	11,181,998		4,000	3,793,612
Balance at Jun. 30, 2024		457,550	(18,051)	256,683	$ (32,692)			$ 4,000
Class A common shares purchased, at cost							$ 0
Other comprehensive income (loss):
Change in unrealized holding gains (losses)			10,146
Unrealized foreign currency translation gains (losses)	58		58
Other comprehensive income (loss), net of tax	10,204		10,204
Net income	12,760			12,760
Preferred share distributions	(110)			(110)
Dividends/ Distribution to shareholders				(4,782)
Share compensation plans		1,164
Balance at Sep. 30, 2024	$ 686,726	$ 458,714	$ (7,847)	$ 264,551	$ (32,692)			$ 4,000

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Retained Earnings
Dividend payable, per share	$ 0.35	$ 0.25

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 34,219	$ 19,531
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and depreciation	3,993	4,801
Restricted stock and stock option expense	3,923	3,111
Deferred federal income taxes	8,605	4,711
Amortization of bond premium and discount, net	(16,989)	(3,874)
Net realized investment losses (gains)	(540)	2,414
Income from equity method investments, net of distributions	136	112
Changes in:
Premium receivables, net	28,733	37,636
Reinsurance receivables, net	4,046	140
Funds held by ceding insurers	(10,158)	(1,076)
Unpaid losses and loss adjustment expenses	(10,423)	29,399
Unearned premiums	510	(73,673)
Ceded balances payable	(1,679)	(13,709)
Other assets and liabilities	7,672	2,061
Contingent commissions	(429)	(4,015)
Federal income tax payable	(2,657)	0
Deferred acquisition costs	1,590	18,952
Prepaid reinsurance premiums	1,698	10,231
Net cash provided by operating activities	52,250	36,752
Cash flows from investing activities:
Proceeds from sale of fixed maturities	80,236	114,058
Proceeds from sale of equity securities	0	24
Proceeds from maturity of fixed maturities	539,542	158,216
Proceeds from maturity of preferred stock	5,534	500
Proceeds from other invested assets	8,641	1,196
Purchases of fixed maturities	(682,546)	(282,564)
Purchases of equity securities	0	(74)
Net cash used for investing activities	(48,593)	(8,644)
Cash flows from financing activities:
Distributions paid to common shareholders	(9,816)	(7,477)
Distributions paid to preferred shareholders	(330)	(330)
Purchases of class A common shares	(529)	(12,677)
Net cash used for financing activities	(10,675)	(20,484)
Net change in cash and cash equivalents	(7,018)	7,624
Cash and cash equivalents at beginning of period	38,037	38,846
Cash and cash equivalents at end of period	$ 31,019	$ 46,470

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 12,760	$ 7,700	$ 34,219	$ 19,531

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Principles of Consolidation and

Principles of Consolidation and Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation and Basis of Presentation	1. Principles of Consolidation and Basis of Presentation Global Indemnity Group, LLC (“Global Indemnity”, "GBLI", or “the Company”), a Delaware limited liability company formed on June 23, 2020 , replaced Global Indemnity Limited, incorporated in the Cayman Islands as an exempted company with limited liability, as the ultimate parent company of the Global Indemnity group of companies as a result of a redomestication transaction completed on August 28, 2020 . Global Indemnity Group, LLC’s class A common shares are publicly traded on the New York Stock Exchange under the ticker symbol GBLI. Global Indemnity Group, LLC’s predecessors have been publicly traded since 2003. The interim consolidated financial statements are unaudited, but have been prepared in conformity with United States of America generally accepted accounting principles (“GAAP”), which differs in certain respects from those principles followed in reports to insurance regulatory authorities. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The unaudited consolidated financial statements include all adjustments that are, in the opinion of management, of a normal recurring nature and are necessary for a fair statement of results for the interim periods. Results of operations for the quarters and nine months ended September 30, 2024 and 2023 are not necessarily indicative of the results of a full year. The accompanying notes to the unaudited consolidated financial statements should be read in conjunction with the notes to the consolidated financial statements contained in the Company’s 2023 Annual Report on Form 10-K. The consolidated financial statements include the accounts of Global Indemnity Group, LLC and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring	2. Restructuring The Company restructured its insurance operations to strengthen its market presence and enhance its focus on GBLI’s core products. As a result, the Company exited its four brokerage divisions: Professional Liability, Excess Casualty, Environmental, and Middle Market Property. The Company ceased writing new business and non-renewed existing policies for these four divisions. The restructuring plan, which was initiated in the fourth quarter of 2022 , was completed in the first quarter of 2023 . In connection with the restructuring plan, the Company incurred restructuring costs of $ 3.4 million in 2022 and $ 2.0 million in 2023 for total restructuring costs of $ 5.4 million. No additional restructuring costs were incurred during the quarter and nine months ended September 30, 2024. The liability related to the restructuring plan was less than $ 0.1 million at December 31, 2023. This liability was paid during the first quarter of 2024.

Investments

Investments	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	3. Investments The amortized cost and estimated fair value of the Company’s fixed maturities securities were as follows as of September 30, 2024 and December 31, 2023: (Dollars in thousands) Amortized Allowance for Expected Credit Losses Gross Gross Estimated As of September 30, 2024 Fixed maturities: U.S. treasuries $ 889,891 $ — $ 1,380 $ ( 683 ) $ 890,588 Obligations of states and political subdivisions 17,807 — — ( 634 ) 17,173 Mortgage-backed securities 49,317 — 598 ( 2,438 ) 47,477 Asset-backed securities 159,166 — 1,312 ( 2,810 ) 157,668 Commercial mortgage-backed securities 76,675 — 77 ( 2,526 ) 74,226 Corporate bonds 149,857 — 317 ( 2,777 ) 147,397 Foreign corporate bonds 62,141 — 163 ( 1,604 ) 60,700 Total fixed maturities $ 1,404,854 $ — $ 3,847 $ ( 13,472 ) $ 1,395,229 (Dollars in thousands) Amortized Allowance for Expected Credit Losses Gross Gross Estimated As of December 31, 2023 Fixed maturities: U.S. treasuries $ 497,099 $ — $ 515 $ ( 3,391 ) $ 494,223 Obligations of states and political subdivisions 27,326 — — ( 1,176 ) 26,150 Mortgage-backed securities 63,173 — 229 ( 4,475 ) 58,927 Asset-backed securities 207,375 — 668 ( 5,091 ) 202,952 Commercial mortgage-backed securities 84,062 — 12 ( 4,994 ) 79,080 Corporate bonds 298,526 — 116 ( 6,929 ) 291,713 Foreign corporate bonds 144,531 — 40 ( 3,823 ) 140,748 Total fixed maturities $ 1,322,092 $ — $ 1,580 $ ( 29,879 ) $ 1,293,793 As of September 30, 2024 and December 31, 2023 , the Company’s investments in equity securities consist of preferred stock in the amounts of $ 12.3 million and $ 16.5 million, respectively. Excluding U.S. treasuries and limited partnerships, the Company did not hold any debt or equity investments in a single issuer in exc ess of 1.7 % and 2.1 % of shareholders' equity at September 30, 2024 and December 31, 2023, respectively. The amortized cost and estimated fair value of the Company’s fixed maturities portfolio classified as available for sale at September 30, 2024, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) Amortized Estimated Due in one year or less $ 945,787 $ 946,078 Due in one year through five years 153,185 150,427 Due in five years through ten years 10,807 10,090 Due after ten years 9,917 9,263 Mortgage-backed securities 49,317 47,477 Asset-backed securities 159,166 157,668 Commercial mortgage-backed securities 76,675 74,226 Total $ 1,404,854 $ 1,395,229 The following table contains an analysis of the Company’s fixed income securities with gross unrealized losses that are not deemed to have credit losses, categorized by the period that the securities were in a continuous loss position as of September 30, 2024. The fair value amounts reported in the table are estimates that are prepared using the process described in Note 4. Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Gross Fair Value Gross Fair Value Gross Fixed maturities: U.S. treasuries $ 18,829 $ ( 4 ) $ 67,499 $ ( 679 ) $ 86,328 $ ( 683 ) Obligations of states and political subdivisions — — 17,173 ( 634 ) 17,173 ( 634 ) Mortgage-backed securities 6,235 ( 127 ) 24,167 ( 2,311 ) 30,402 ( 2,438 ) Asset-backed securities 4,130 ( 49 ) 56,171 ( 2,761 ) 60,301 ( 2,810 ) Commercial mortgage-backed securities 9 — 65,051 ( 2,526 ) 65,060 ( 2,526 ) Corporate bonds 6,043 ( 11 ) 106,762 ( 2,766 ) 112,805 ( 2,777 ) Foreign corporate bonds 520 ( 7 ) 50,111 ( 1,597 ) 50,631 ( 1,604 ) Total fixed maturities $ 35,766 $ ( 198 ) $ 386,934 $ ( 13,274 ) $ 422,700 $ ( 13,472 ) The following table contains an analysis of the Company’s fixed income securities with gross unrealized losses that are not deemed to have credit losses, categorized by the period that the securities were in a continuous loss position as of December 31, 2023. The fair value amounts reported in the table are estimates that are prepared using the process described in Note 4. Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Gross Fair Value Gross Fair Value Gross Fixed maturities: U.S. treasuries $ 55,447 $ ( 342 ) $ 239,254 $ ( 3,049 ) $ 294,701 $ ( 3,391 ) Obligations of states and political subdivisions — — 26,150 ( 1,176 ) 26,150 ( 1,176 ) Mortgage-backed securities 12,432 ( 406 ) 39,734 ( 4,069 ) 52,166 ( 4,475 ) Asset-backed securities 38,828 ( 469 ) 108,947 ( 4,622 ) 147,775 ( 5,091 ) Commercial mortgage-backed securities 13 ( 2 ) 76,467 ( 4,992 ) 76,480 ( 4,994 ) Corporate bonds 34,658 ( 264 ) 231,816 ( 6,665 ) 266,474 ( 6,929 ) Foreign corporate bonds 7,096 ( 13 ) 111,750 ( 3,810 ) 118,846 ( 3,823 ) Total fixed maturities $ 148,474 $ ( 1,496 ) $ 834,118 $ ( 28,383 ) $ 982,592 $ ( 29,879 ) The Company regularly performs various analytical valuation procedures with respect to its investments, including reviewing each available for sale debt security in an unrealized loss position to assess whether the decline in fair value below amortized cost basis has resulted from a credit loss or other factors. In assessing whether a credit loss exists, the Company compares the present value of the cash flows expected to be collected from the security to the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost basis of the security, a credit loss exists and an allowance for expected credit losses is recorded. Subsequent changes in the allowances are recorded in the period of change as either credit loss expense or reversal of credit loss expense. Any declines in value related to factors other than credit losses and the intent to sell are recorded through other comprehensive income, net of taxes. For fixed maturities, the factors considered in reaching the conclusion that a credit loss exists include, among others, whether: (1) the extent to which the fair value is less than the amortized cost basis; (2) the issuer is in financial distress; (3) the investment is secured; (4) a significant credit rating action occurred; (5) scheduled interest payments were delayed or missed; (6) changes in laws or regulations have affected an issuer or industry; (7) the investment has an unrealized loss and was identified by the Company’s investment manager as an investment to be sold before recovery or maturity; (8) the investment failed cash flow projection testing to determine if anticipated principal and interest payments will be realized; and (9) changes in US Treasury rates and/or credit spreads since original purchase to identify whether the unrealized loss is simply due to interest rate movement. According to accounting guidance for debt securities in an unrealized loss position, the Company is required to assess whether it has the intent to sell the debt security or more likely than not will be required to sell the debt security before the anticipated recovery. If either of these conditions is met, any allowance for expected credit losses is written off and the amortized cost basis is written down to the fair value of the fixed maturity security with any incremental impairment reported in earnings. The new amortized cost basis shall not be adjusted for subsequent recoveries in fair value. Subject to the risks and uncertainties in evaluating the potential impairment of a security's value, the impairment evaluation conducted by the Company as of September 30, 2024 and December 31, 2023 concluded the unrealized losses in the tables above are non-credit losses on securities where management does not intend to sell, and it is more likely than not that the Company will not be required to sell the security before recovery. The Company elected the practical expedient to exclude accrued interest from both the fair value and the amortized cost basis of the available for sale debt securities for the purposes of identifying and measuring an impairment and to not measure an allowance for expected credit losses for accrued interest receivables. Accrued interest receivable is written off through net realized investment gains (losses) at the time the issuer of the bond defaults or is expected to default on payment. The Company made an accounting policy election to present the accrued interest receivable balance with other assets on the Company’s consolidated statements of financial position. Accrued interest receivable related to fixed maturities was $ 3.5 million and $ 7.5 million as of September 30, 2024 and December 31, 2023 , respectively. The following is a description, by asset type, of the methodology and significant inputs that the Company used to measure the amount of credit loss recognized in earnings, if any: U.S. treasuries – As of September 30, 2024, gross unrealized losses related to U.S. treasuries were $ 0.683 million . To assess whether the decline in fair value below amortized cost has resulted from a credit loss or other factors, macroeconomic and market analysis is conducted in evaluating these securities. Consideration is given to the interest rate environment, duration and yield curve management of the portfolio, sector allocation and security selection. Based on the analysis performed, the Company did not recognize a credit loss on U.S. treasuries during the period. Obligations of states and political subdivisions – As of September 30, 2024, gross unrealized losses related to obligations of states and political subdivisions were $ 0.634 million . To assess whether the decline in fair value below amortized cost has resulted from a credit loss or other factors, elements that may influence the performance of the municipal bond market are considered in evaluating these securities such as investor expectations, supply and demand patterns, and current versus historical yield and spread relationships. The analysis relies on the output of fixed income credit analysts, as well as dedicated municipal bond analysts who perform extensive in-house fundamental analysis on each issuer, regardless of their rating by the major agencies. Based on the analysis performed, the Company did not recognize a credit loss on obligations of states and political subdivisions during the period. Mortgage-backed securities (“MBS”) – As of September 30, 2024, gross unrealized losses related to mortgage-backed securities were $ 2.438 million . To assess whether the decline in fair value below amortized cost has resulted from a credit loss or other factors, mortgage-backed securities are modeled to project principal losses under downside, base, and upside scenarios for the economy and home prices. The primary assumption that drives the security and loan level modeling is the Home Price Index (“HPI”) projection. These forecasts incorporate not just national macro-economic trends, but also regional impacts to arrive at the most granular and accurate projections. These assumptions are incorporated into the model as a basis to generate delinquency probabilities, default curves, loss severity curves, and voluntary prepayment curves at the loan level within each deal. The model utilizes HPI-adjusted current loan to value, payment history, loan terms, loan modification history, and borrower characteristics as inputs to generate expected cash flows and principal loss for each bond under various scenarios. Based on the analysis performed, the Company did not recognize a credit loss on mortgage-backed securities during the period. Asset backed securities (“ABS”) - As of September 30, 2024, gross unrealized losses related to asset backed securities were $ 2.810 million . The weighted average credit enhancement for the Company’s asset backed portfolio is 38.0 . This represents the percentage of pool losses that can occur before an asset backed security will incur its first dollar of principal losses. To assess whether the decline in fair value below amortized cost has resulted from a credit loss or other factors, every ABS transaction is analyzed on a stand-alone basis. This analysis involves a thorough review of the collateral, prepayment, and structural risk in each transaction. Additionally, the analysis includes an in-depth credit analysis of the originator and servicer of the collateral. The analysis projects an expected loss for a deal given a set of assumptions specific to the asset type. These assumptions are used to calculate at what level of losses the deal will incur its first dollar of principal loss. The major assumptions used to calculate this ratio are loss severities, recovery lags, and no advances on principal and interest. Based on the analysis performed, the Company did not recognize a credit loss on asset backed securities during the period. Commercial mortgage-backed securities (“CMBS”) - As of September 30, 2024, gross unrealized losses related to the CMBS portfolio were $ 2.526 million . The weighted average credit enhancement for the Company’s CMBS portfolio is 44.0 . This represents the percentage of pool losses that can occur before a commercial mortgage-backed security will incur its first dollar of principal loss. To assess whether the decline in fair value below amortized cost has resulted from a credit loss or other factors, a loan level analysis is utilized where every underlying CMBS loan is re-underwritten based on a set of assumptions reflecting expectations for the future path of the economy. Each loan is analyzed over time using a series of tests to determine if a credit event will occur during the life of the loan. Inherent in this process are several economic scenarios and their corresponding rent/vacancy and capital market states. The five primary credit events that frame the analysis include loan modifications, term default, balloon default, extension, and ability to pay off the balloon. The resulting output is the expected loss adjusted cash flows for each bond under the base case and distressed scenarios. Based on the analysis performed, the Company did not recognize a credit loss on commercial mortgage-backed securities during the period. Corporate bonds - As of September 30, 2024, gross unrealized losses related to corporate bonds were $ 2.777 million . To assess whether the decline in fair value below amortized cost has resulted from a credit loss or other factors, analysis for this asset class includes maintaining detailed financial models that include a projection of each issuer’s future financial performance, including prospective debt servicing capabilities, capital structure composition, and the value of the collateral. The analysis incorporates the macroeconomic environment, industry conditions in which the issuer operates, the issuer’s current competitive position, its vulnerability to changes in the competitive and regulatory environment, issuer liquidity, issuer commitment to bondholders, issuer creditworthiness, and asset protection. Part of the process also includes running downside scenarios to evaluate the expected likelihood of default as well as potential losses in the event of default. Based on the analysis performed, the Company did not recognize a credit loss on corporate bonds during the period. Foreign bonds – As of September 30, 2024, gross unrealized losses related to foreign bonds were $ 1.604 million . To assess whether the decline in fair value below amortized cost has resulted from a credit loss or other factors, detailed financial models are maintained that include a projection of each issuer’s future financial performance, including prospective debt servicing capabilities, capital structure composition, and the value of the collateral. The analysis incorporates the macroeconomic environment, industry conditions in which the issuer operates, the issuer’s current competitive position, its vulnerability to changes in the competitive and regulatory environment, issuer liquidity, issuer commitment to bondholders, issuer creditworthiness, and asset protection. Part of the process also includes running downside scenarios to evaluate the expected likelihood of default as well as potential losses in the event of default. Based on the analysis performed, the Company did not recognize a credit loss on foreign bonds during the period. The Company has evaluated its investment portfolio and has determined that an allowance for expected credit losses on its investments is not required. Accumulated Other Comprehensive Income (Loss), Net of Tax Accumulated other comprehensive income (loss), net of t ax, as of September 30, 2024 and December 31, 2023 was as follows: (Dollars in thousands) September 30, 2024 December 31, 2023 Net unrealized gains (losses) from: Fixed maturities $ ( 9,625 ) $ ( 28,299 ) Foreign currency fluctuations ( 140 ) ( 187 ) Deferred taxes 1,918 5,623 Accumulated other comprehensive income (loss), net of tax $ ( 7,847 ) $ ( 22,863 ) The following tables present the changes in accumulated other c omprehensive income (loss), by components, for the quarters and nine months ended September 30, 2024 and 2023: Quarter Ended September 30, 2024 Unrealized Gains and Losses on Available for Sale Securities Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Beginning balance, net of tax $ ( 17,882 ) $ ( 169 ) $ ( 18,051 ) Other comprehensive income before reclassification, before tax 11,912 74 11,986 Amounts reclassified from accumulated other comprehensive income, before tax 801 — 801 Other comprehensive income, before tax 12,713 74 12,787 Income tax expense ( 2,568 ) ( 15 ) ( 2,583 ) Ending balance, net of tax $ ( 7,737 ) $ ( 110 ) $ ( 7,847 ) Quarter Ended September 30, 2023 Unrealized Gains and Losses on Available for Sale Securities Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Beginning balance, net of tax $ ( 36,912 ) $ ( 259 ) $ ( 37,171 ) Other comprehensive loss before reclassification, before tax ( 1,191 ) ( 181 ) ( 1,372 ) Amounts reclassified from accumulated other comprehensive income, before tax 118 — 118 Other comprehensive loss, before tax ( 1,073 ) ( 181 ) ( 1,254 ) Income tax benefit 270 38 308 Ending balance, net of tax $ ( 37,715 ) $ ( 402 ) $ ( 38,117 ) Nine Months Ended September 30, 2024 Unrealized Gains and Losses on Available for Sale Securities Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Beginning balance, net of tax $ ( 22,715 ) $ ( 148 ) $ ( 22,863 ) Other comprehensive income before reclassification, before tax 17,841 47 17,888 Amounts reclassified from accumulated other comprehensive income, before tax 833 — 833 Other comprehensive income, before tax 18,674 47 18,721 Income tax expense ( 3,696 ) ( 9 ) ( 3,705 ) Ending balance, net of tax $ ( 7,737 ) $ ( 110 ) $ ( 7,847 ) Nine Months Ended September 30, 2023 Unrealized Gains and Losses on Available for Sale Securities Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Beginning balance, net of tax $ ( 42,958 ) $ ( 100 ) $ ( 43,058 ) Other comprehensive income (loss) before reclassification, before tax 5,179 ( 382 ) 4,797 Amounts reclassified from accumulated other comprehensive income, before tax 1,311 — 1,311 Other comprehensive income (loss), before tax 6,490 ( 382 ) 6,108 Income tax benefit (expense) ( 1,247 ) 80 ( 1,167 ) Ending balance, net of tax $ ( 37,715 ) $ ( 402 ) $ ( 38,117 ) The reclassifications out of accumulated other compre hensive income (loss) for the quarters and nine months ended September 30, 2024 and 2023 were as follows: Amounts Reclassified from (Dollars in thousands) Quarters Ended September 30, Details about Accumulated Other Affected Line Item in the Consolidated 2024 2023 Unrealized gains and losses on available for sale securities Other net realized investment losses $ 801 $ 118 Income tax benefit ( 168 ) ( 24 ) Total reclassifications, net of tax $ 633 $ 94 Amounts Reclassified from (Dollars in thousands) Nine Months Ended September 30, Details about Accumulated Other Affected Line Item in the Consolidated 2024 2023 Unrealized gains and losses on available for sale securities Other net realized investment losses $ 833 $ 1,311 Income tax benefit ( 168 ) ( 251 ) Total reclassifications, net of tax $ 665 $ 1,060 Net Realized Investment Gains (Losses) The components of net realized investment gains (losses) fo r the quarters and nine months ended September 30, 2024 and 2023 were as follows: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Fixed maturities: Gross realized gains $ 5 $ 15 $ 54 $ 29 Gross realized losses ( 806 ) ( 133 ) ( 887 ) ( 1,340 ) Net realized gains (losses) ( 801 ) ( 118 ) ( 833 ) ( 1,311 ) Equity securities: Gross realized gains 295 163 1,384 726 Gross realized losses ( 6 ) ( 178 ) ( 11 ) ( 1,829 ) Net realized gains (losses) 289 ( 15 ) 1,373 ( 1,103 ) Total net realized investment gains (losses) $ ( 512 ) $ ( 133 ) $ 540 $ ( 2,414 ) The following table shows the calculation of the portion of realized gains and losses related to equity securities held as of September 30, 2024 and 2023: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Net gains (losses) recognized during the period on equity securities $ 289 $ ( 15 ) $ 1,373 $ ( 1,103 ) Less: net gains (losses) recognized during the period on equity securities sold during the period ( 157 ) 15 ( 423 ) 32 Unrealized gains (losses) recognized during the reporting period on equity securities still held $ 446 $ ( 30 ) $ 1,796 $ ( 1,135 ) The proceeds from sales and redemptions of available for sale and equity securities resulting in net realized inv estment gains (losses) for the nine months ended September 30, 2024 and 2023 were as follows: Nine Months Ended September 30, (Dollars in thousands) 2024 2023 Fixed maturities $ 80,236 $ 114,058 Equity securities - 24 Net Investment Income The sources of net investment income for the quarters and nine months ended September 30, 2024 and 2023 were as follows: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Fixed maturities $ 15,457 $ 12,961 $ 43,617 $ 36,734 Equity securities 181 188 615 635 Cash and cash equivalents 800 501 2,121 1,064 Other invested assets 555 916 1,486 2,080 Total investment income 16,993 14,566 47,839 40,513 Investment expense ( 505 ) ( 366 ) ( 1,520 ) ( 1,089 ) Net investment income $ 16,488 $ 14,200 $ 46,319 $ 39,424 The Company’s total investment return on a pre-tax basis for the quarters and nine months ended September 30, 2024 and 2023 were as follows: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Net investment income $ 16,488 $ 14,200 $ 46,319 $ 39,424 Net realized investment gains (losses) ( 512 ) ( 133 ) 540 ( 2,414 ) Change in unrealized holding gains 12,787 ( 1,254 ) 18,721 6,108 Net realized and unrealized investment returns 12,275 ( 1,387 ) 19,261 3,694 Total investment return $ 28,763 $ 12,813 $ 65,580 $ 43,118 Total investment return % (1) 2.0 % 0.9 % 4.6 % 3.2 % Average investment portfolio (2) $ 1,451,641 $ 1,355,077 $ 1,429,253 $ 1,354,727 (1) Not annualized. (2) Average of total cash and invested assets, net of receivable/payable for securities, as of the beginning and end of the period. As of September 30, 2024 and December 31, 2023, the Compa ny did no t own any fixed maturity securities that were non-income producing for the preceding twelve months. Insurance Enhanced Asset-Backed and Credit Securities As of September 30, 2024 , the Company held insurance enhanced municipal bonds with a market value of approximately $ 1.7 million which represented 0.1 % of the Company’s total cash and invested assets, net of receivable for securities. The financial guarantors of the Company’s $ 1.7 million municipal bonds include Assured Guaranty Corporation ($ 0.8 million ) and Ambac Financial Group ($ 0.9 million ). The Company had no direct investments in the entities that have provided financial guarantees or other credit support to any security held by the Company at September 30, 2024. Bonds Held on Deposit Certain cash and cash equivalents and bonds available for sale were deposited with various governmental authorities in accordance with statutory requirements, were held as collateral, or were held in trust. The fair values were as follows as of September 30, 2024 and December 31, 2023: Estimated Fair Value (Dollars in thousands) September 30, 2024 December 31, 2023 On deposit with governmental authorities $ 19,627 $ 19,262 Held in trust pursuant to third party requirements 157,879 150,796 Total (1) $ 177,506 $ 170,058 (1) Includes cash and cash equivalents o f $ 3.9 mi llion and $ 9.0 million at September 30, 2024 and December 31, 2023 , respectively, with the remainder related to bonds available for sale. Variable Interest Entities A Variable Interest Entity (“VIE”) refers to an investment in which an investor holds a controlling interest that is not based on the majority of voting rights. Under the VIE model, the party that has the power to exercise significant management influence and maintain a controlling financial interest in the entity’s economics is said to be the primary beneficiary, and is required to consolidate the entity within their results. Other entities that participate in a VIE, for which their financial interests fluctuate with changes in the fair value of the investment entity’s net assets but do not have significant management influence and the ability to direct the VIE’s significant economic activities are said to have a variable interest in the VIE but do not consolidate the VIE in their financial results. The Company has interests in three limited partnership investments with a carrying value approximating fair value of $ 29.5 million and $ 38.2 million as of September 30, 2024 and December 31, 2023 . The Company has a variable interest in two of these limited partnership investments, for which it is not the primary beneficiary. These investments are accounted for under the equity method since its ownership interest exceeds 3 %. The carrying value of one of the Company’s VIE’s, which invests in distressed securities and assets, was $ 3.4 million and $ 4.0 million as of September 30, 2024 and December 31, 2023 , respectively. The Company’s maximum exposure to loss from this VIE, which factors in future funding commitments of $ 14.2 million, was $ 17.6 million and $ 18.3 million at September 30, 2024 and December 31, 2023, respectively. Since the investment period has concluded, the Company does not expect any capital calls will be made prospectively. The carrying value and maximum exposure to loss of a second VIE that invests in Real Estate Investment Trust (“REIT”) qualifying assets was $ 8.6 million and $ 8.2 million as of September 30, 2024 and December 31, 2023, respectively. The Company’s investment in VIEs is included i n other invested assets on the consolidated balance sheets with changes in carrying value recorded in the consolidated statements of operations.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The accounting standards related to fair value measurements define fair value, establish a framework for measuring fair value, outline a fair value hierarchy based on inputs used to measure fair value, and enhance disclosure requirements for fair value measurements. These standards do not change existing guidance as to whether or not an instrument is carried at fair value. The Company has determined that its fair value measurements are in accordance with the requirements of these accounting standards. The Company’s invested assets are carried at their fair value and are categorized based upon a fair value hierarchy: • Level 1 – inputs utilize quoted prices (unadjusted) in active markets for identical assets that the Company has the ability to access at the measurement date. • Level 2 – inputs utilize other than quoted prices included in Level 1 that are observable for similar assets, either directly or indirectly. • Level 3 – inputs are unobservable for the asset, and include situations where there is little, if any, market activity for the asset. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset. The following table presents information about the Company’s invested assets measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. Fair Value Measurements As of September 30, 2024 Level 1 Level 2 Level 3 Total Assets: Fixed maturities: U.S. treasuries $ 890,588 $ — $ — $ 890,588 Obligations of states and political subdivisions — 17,173 — 17,173 Mortgage-backed securities — 47,477 — 47,477 Commercial mortgage-backed securities — 74,226 — 74,226 Asset-backed securities — 157,668 — 157,668 Corporate bonds — 147,397 — 147,397 Foreign corporate bonds — 60,700 — 60,700 Total fixed maturities 890,588 504,641 — 1,395,229 Equity securities — 12,347 — 12,347 Total assets measured at fair value $ 890,588 $ 516,988 $ — $ 1,407,576 Fair Value Measurements As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Fixed maturities: U.S. treasuries $ 494,223 $ — $ — $ 494,223 Obligations of states and political subdivisions — 26,150 — 26,150 Mortgage-backed securities — 58,927 — 58,927 Commercial mortgage-backed securities — 79,080 — 79,080 Asset-backed securities — 202,952 — 202,952 Corporate bonds — 291,713 — 291,713 Foreign corporate bonds — 140,748 — 140,748 Total fixed maturities 494,223 799,570 — 1,293,793 Equity securities — 16,508 — 16,508 Total assets measured at fair value $ 494,223 $ 816,078 $ — $ 1,310,301 The securities classified as Level 1 in the above tables consist of U.S. treasuries actively traded on an exchange. The securities classified as Level 2 in the above tables consist primarily of fixed maturities and preferred stocks. Based on the typical trading volumes and the lack of quoted market prices for fixed maturities and preferred stocks, security prices are derived through recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information. If there are no recent reported trades, matrix or model processes are used to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Included in the pricing of asset-backed securities, collateralized mortgage obligations, and mortgage-backed securities are estimates of the rate of future prepayments of principal over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and prepayment speeds previously experienced at the interest rate levels projected for the underlying collateral. The following table presents changes in Level 3 investments measured at fair value on a recurring basis for the quarters and nine months ended September 30, 2024 and 2023: Quarters Ended Nine Months Ended (Dollars in thousands) 2024 2023 2024 2023 Beginning balance $ — $ 3,787 $ — $ 4,571 Total gains / (losses) (realized / unrealized): Included in accumulated other comprehensive income (loss) — 3 — 10 Included in earnings attributable to realized gains / losses — 24 — ( 148 ) Amortization of bond premium and discount, net — 1 — 5 Purchases — 182 — 295 Sales — ( 428 ) — ( 1,164 ) Ending balance $ — $ 3,569 $ — $ 3,569 Gains (losses) included in earnings attributable to the change in unrealized gains (losses) related to assets still held at end of reporting period $ — $ 31 $ — $ ( 131 ) There were no transfers into or out of Level 3 during the quarters and nine months ended September 30, 2024 or 2023. Fair Value of Alternative Investments Other invested assets consist of limited partnerships whose carrying value approximates fair value. The following table provides the fair value and future funding commitments related to these investments at September 30, 2024 and December 31, 2023. September 30, 2024 December 31, 2023 (Dollars in thousands) Fair Value Future Funding Fair Value Future Funding European Non-Performing Loan Fund, LP (1) $ 3,406 $ 14,214 $ 4,048 $ 14,214 Mortgage Debt Fund, LP (2) 8,588 — 8,172 — Global Debt Fund, LP (3) 17,465 — 26,016 — Total $ 29,459 $ 14,214 $ 38,236 $ 14,214 (1) This limited partnership invests in distressed securities and assets through senior and subordinated, secured and unsecured debt and equity, in both public and private large-cap and middle-market companies. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. As of September 30, 2024 , the Company has funded $ 35.8 million of this commitment leaving $ 14.2 million as unfunded. Since the investment period has concluded, the Company does not expect any capital calls will be made prospectively. (2) This limited partnership invests in REIT qualifying assets such as mortgage loans, investor property loans, and commercial mortgage loans. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. (3) This limited partnership invests in performing, stressed or distressed securities and loans across the global fixed income markets. The Company does have the contractual option to withdraw all or a portion of its limited partnership interest by providing notice to the fund. On July 31, 2023, the Company provided the Global Debt Fund, LP with a formal withdrawal request to fully redeem the partnership interest. Partial redemption proceeds of $ 8.7 m illion were received during the nine months ended September 30, 2024 . Limited Partnerships with ownership interest exceeding 3% The Company uses the equity method to account for investments in limited partnerships where its ownership interest exceeds 3 %. The equity method of accounting for an investment in limited partnerships requires that its cost basis be updated to account for the income or loss earned on the investment. In the Fair Value of Alternative Investm ents table above, all of the investments are booked on a one quarter lag due to non-availability of data at the time the financial statements are prepared. The investment income (loss) associated with the limited partnerships whose ownership interest exceeds 3 % is reflected in the consolidated statements of operations in the amounts of ($ 0.2 ) million and $ 0.1 million for the quarters ended September 30, 2024 and 2023 , respectively, and $ 0.4 million and $ 0.8 million for the nine months ended September 30, 2024 and 2023, respectively. Pricing The Company’s pricing vendors provide prices for all investment categories except for investments in limited partnerships. Two primary vendors are utilized to provide prices for equity and fixed maturity securities. The following is a description of the valuation methodologies used by the Company’s pricing vendors for investment securities carried at fair value: • Equity security prices are received from primary and secondary exchanges. • Corporate and agency bonds, as well as preferred stock, are evaluated by utilizing a spread to a benchmark curve. Bonds with similar characteristics are grouped into specific sectors. Inputs for both asset classes consist of trade prices, broker quotes, the new issue market, and prices on comparable securities. • Data from commercial vendors is aggregated with market information, then converted into an option adjusted spread (“OAS”) matrix and prepayment model used for collateralized mortgage obligations (“CMO”). CMOs are categorized with mortgage-backed securities in the tables listed above. For asset-backed securities, spread data is derived from trade prices, dealer quotations, and research reports. For both asset classes, evaluations utilize standard inputs plus new issue data, and collateral performance. The evaluated pricing models incorporate cash flows, broker quotes, market trades, historical prepayment speeds, and dealer projected speeds. • For obligations of state and political subdivisions, an attribute-based modeling system is used. The pricing model incorporates trades, market clearing yields, market color, and fundamental credit research. • U.S. treasuries are evaluated by obtaining feeds from a number of live data sources including primary and secondary dealers as well as inter-dealer brokers. • For mortgage-backed securities, various external analytical products are utilized and purchased from commercial vendors. The Company performs certain procedures to validate whether the pricing information received from the pricing vendors is reasonable, to ensure that the fair value determination is consistent with accounting guidance, and to ensure that its assets are properly classified in the fair value hierarchy. The Company’s procedures include, but are not limited to: • Reviewing periodic reports provided by the Investment Manager that provides information regarding rating changes and securities placed on watch. This procedure allows the Company to understand why a particular security’s market value may have changed or may potentially change. • Understanding and periodically evaluating the various pricing methods and procedures used by the Company’s pricing vendors to ensure that investments are properly classified within the fair value hierarchy. • On a quarterly basis, the Company corroborates investment security prices received from its pricing vendors by obtaining pricing from a second pricing vendor for a sample of securities. During the quarters and nine months ended September 30, 2024 and 2023, the Company has not adjusted q uotes or prices obtained from the pricing vendors.

Allowance for Expected Credit L

Allowance for Expected Credit Losses - Premium Receivables and Reinsurance Receivables	9 Months Ended
	Sep. 30, 2024
Allowance for Credit Loss [Abstract]
Allowance for Expected Credit Losses - Premium Receivables and Reinsurance Receivables	5. Allowance for Expected Credit Losses - Premium Receivables and Reinsurance Receivables For premium receivables, the allowance is based upon the Company’s ongoing review of key aspects of amounts outstanding, including but not limited to, length of collection periods, direct placement with collection agencies, solvency of insured, agents, or reinsurers on assumed reinsurance, terminated agents, and other relevant factors. The following table is an analysis of the allowance for expected credit losses related to the Company's premium receivables for the quarters and nine months ended September 30, 2024 and 2023: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Beginning balance $ 4,043 $ 4,056 $ 4,796 $ 3,322 Current period provision for expected credit losses ( 522 ) 428 ( 695 ) 2,145 Write-offs ( 35 ) ( 364 ) ( 615 ) ( 1,347 ) Ending balance $ 3,486 $ 4,120 $ 3,486 $ 4,120 For reinsurance receivables, the allowance is based upon the Company’s ongoing review of key aspects of amounts outstanding, including but not limited to, length of collection periods, disputes, applicable coverage defenses, insolvent reinsurers, financial strength of solvent reinsurers based on AM Best Ratings and other relevant factors. The allowance for expected credit losses related to the Company's reinsurance receivables was $ 9.0 million at September 30, 2024 and December 31, 2023 .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes Global Indemnity Group, LLC is a publicly traded partnership for U.S. federal income tax purposes and meets the qualifying income exception to maintain partnership status. As a publicly traded partnership, Global Indemnity Group, LLC is generally not subject to federal income tax and most state income taxes. However, income earned by the subsidiaries of Global Indemnity Group, LLC is subject to corporate tax in the United States and certain foreign jurisdictions. As of September 30, 2024 , the Company conducts business in the United States where the statutory income tax rate is 21 % and in Ireland where the statutory income tax rate is 25 % on non-trading income, 33 % on capital gains, and 12.5 % on trading income. The statutory income tax rate of each country is applied against the expected annual taxable income of the Company in each country to estimate the annual income tax expense. The Company’s income before income taxes is derived from its U.S. subsidiaries for the quarters and nine months ended September 30, 2024 and 2023. The following table summarizes the components of income tax expense: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Current income tax benefit: U.S. Federal $ — $ ( 4 ) $ — $ ( 4 ) Total current income tax benefit $ — $ ( 4 ) $ — $ ( 4 ) Deferred income tax expense: U.S. Federal $ 3,125 $ 1,767 $ 8,605 $ 4,711 Total deferred income tax expense 3,125 1,767 8,605 4,711 Total income tax expense $ 3,125 $ 1,763 $ 8,605 $ 4,707 The weighted average expected tax provision has been calculated using income before income taxes in each jurisdiction multiplied by that jurisdiction’s applicable statutory tax rate. The following tables summarize the differences between the tax provision for financial statement purposes and the expected tax provision at the weighted average tax rate: Quarters Ended September 30, 2024 2023 (Dollars in thousands) Amount % of Pre- Amount % of Pre- Expected tax provision at weighted average tax rate $ 3,336 21.0 % $ 1,987 21.0 % Adjustments: Non-deductible executive compensation 105 0.7 53 0.6 Dividend exclusion ( 16 ) ( 0.1 ) ( 16 ) ( 0.2 ) Parent income treated as partnership for tax ( 324 ) ( 2.0 ) ( 326 ) ( 3.4 ) Meals & Entertainment 7 — 68 0.7 Other 17 0.1 ( 3 ) ( 0.1 ) Effective income tax expense $ 3,125 19.7 % $ 1,763 18.6 % Nine Months Ended September 30, 2024 2023 (Dollars in thousands) Amount % of Pre- Amount % of Pre- Expected tax provision at weighted average tax rate $ 8,993 21.0 % $ 5,090 21.0 % Adjustments: Non-deductible executive compensation 315 0.7 158 0.7 Dividend exclusion ( 54 ) ( 0.1 ) ( 54 ) ( 0.2 ) Parent income treated as partnership for tax ( 690 ) ( 1.6 ) ( 668 ) ( 2.8 ) Meals & Entertainment 44 0.1 197 0.8 Other ( 3 ) — ( 16 ) ( 0.1 ) Effective income tax expense $ 8,605 20.1 % $ 4,707 19.4 % The Company has a net operating loss (“NOL”) carryforward of $ 51.5 million as of September 30, 2024 , which begins to expire in 2038 based on when the original NOL was generated. The Company’s NOL carryforward as of December 31, 2023 was $ 78.8 million.

Liability for Unpaid Losses and

Liability for Unpaid Losses and Loss Adjustment Expenses	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Liability for Unpaid Losses and Loss Adjustment Expenses	7. Liability for Unpaid Losses and Loss Adjustment Expenses Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Balance at beginning of period $ 844,206 $ 866,951 $ 850,599 $ 832,404 Less: ceded reinsurance receivables 70,392 73,933 72,829 73,021 Net balance at beginning of period 773,814 793,018 777,770 759,383 Incurred losses and loss adjustment expenses related to: Current year 52,434 65,167 159,561 231,199 Prior years ( 34 ) ( 51 ) ( 115 ) — Total incurred losses and loss adjustment expenses 52,400 65,116 159,446 231,199 Paid losses and loss adjustment expenses related to: Current year 8,415 20,990 32,501 55,174 Prior years 48,520 50,361 135,436 148,625 Total paid losses and loss adjustment expenses 56,935 71,351 167,937 203,799 Net balance at end of period 769,279 786,783 769,279 786,783 Plus: ceded reinsurance receivables 70,897 75,020 70,897 75,020 Balance at end of period $ 840,176 $ 861,803 $ 840,176 $ 861,803 When analyzing loss reserves and prior year development, the Company considers many factors, including the frequency and severity of claims, loss trends, case reserve settlements that may have resulted in significant development, and any other additional or pertinent factors that may impact reserve estimates. During the third quarter of 2024, the Company's adjustments to prior accident year loss reserves netted to a decrease of less than $ 0.1 million. • Penn-America had an increase of less than $ 0.1 million consisting of a $ 3.7 million decrease for property lines offset by a $ 3.7 million increase for casualty lines across various accident years. • Non-Core Operations had a decrease of less than $ 0.1 million across various accident years. During the third quarter of 2023, the Company's adjustments to prior accident year loss reserves netted to a decrease of $ 0.1 million . • Penn-America had an increase of $ 7.8 million consisting of (i) $ 6.1 million increase in aggregate for casualty lines resulting from increases of $ 11.3 million primarily related to the 2019 through 2021 accident years partially offset by favorable development of $ 5.2 million across various accident years, and (ii) a $ 1.7 million net increase on its property lines resulting from adverse development primarily related to the 2019 to 2021 accident years. • Non-Core Operations had a decrease of $ 7.8 million primarily consisting of (i) a $ 12.7 million net decrease related to reinsurance across multiple accident years, (ii) a $ 4.5 million increase in aggregate for casualty lines related to $ 7.1 million of adverse development primarily in the 2020 through 2022 accident years partially offset by $ 2.6 million of favorable development primarily in the 2016 through 2019 accident years, and (iii) a $ 0.5 million increase in aggregate related to property due to $ 1.4 million of adverse development primarily in the 2022 accident year partially offset by $ 0.9 million of favorable development mainly in the 2016 and 2018 through 2020 accident years. During the first nine months of 2024, the Company's adjustments to prior accident year loss reserves netted to a decrease of $ 0.1 million . • Penn-America had a decrease of $ 0.4 million consisting of $ 4.0 million decrease for property lines offset by a $ 3.6 million increase for casualty lines across various accident years. • Non-Core Operations had an increase of $ 0.3 million across various accident years. During the first nine months of 2023, the Company's adjustments to prior accident year loss reserves netted to zero. • Penn-America had an increase of $ 10.9 million consisting of (i) $ 10.1 million increase in aggregate for casualty lines resulting from increases of $ 16.9 million primarily related to the 2018 through 2021 accident years partially offset by favorable development of $ 6.8 million across various accident years, and (ii) a $ 0.8 million net increase in property lines primarily related to the 2015 and 2018 through 2022 accident years. • Non-Core Operations had a decrease of $ 10.9 million primarily consisting of (i) a $ 19.0 million net decrease related to reinsurance across multiple accident years, (ii) a $ 6.4 million increase in aggregate for casualty lines related to $ 11.2 million of adverse development mainly in the 2020 through 2022 accident years partially offset by $ 4.8 million of favorable development primarily in the 2014 and 2016 through 2018 accident years, and (iii) a $ 1.8 million increase in aggregate for property lines resulting from $ 3.4 million of adverse development mainly in the 2021 and 2022 accident years partially offset by $ 1.6 million of favorable development primarily in the 2016, 2018, and 2020 accident years.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Shareholders' Equity	8. Shareholders’ Equity Repurchases of the Company's class A common shares On October 21, 2022, Global Indemnity Group, LLC announced it commenced a share repurchase program beginning in the fourth quarter of 2022. Global Indemnity Group, LLC's Board of Directors has authorized share repurchases of up to $ 135 million in aggregate under this program that expires on December 31, 2027 . The timing and actual number of shares repurchased, if any, will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. As of September 30, 2024, the Company’s remaining authorization to repurchase shares is $ 101.0 mil lion. In addition, Global Indemnity Group, LLC allows employees to surrender class A common shares as payment for the tax liability incurred upon the vesting of restricted stock that was issued under the Company’s share incentive plan in effect at the time of issuance. The following table provides information with respect to the class A common shares that were surrendered or repurchased during the nine months ended September 30, 2024: (Dollars in thousands, (1) Total Number Average Total Number of Shares Approximate Dollar Value June 1-30, 2024 16,527 (3) $ 32.00 — $ 101,004 Total 16,527 $ 32.00 (1) Based on settlement date. (2) Based on the $ 135 million share repurchase authorization. (3) Surrendered by employees as payment of taxes withheld on the vesting of restricted stock and/or restricted stock units. The following table provides information with respect to the class A common shares that were surrendered or repurchased during the nine months ended September 30, 2023: (Dollars in thousands, (1) Total Number Average Total Number of Shares Approximate Dollar Value January 1-31, 2023 3,302 (3) $ 23.31 — $ — January 1-31, 2023 250,000 (4) $ 25.90 250,000 $ 106,604 April 1-30, 2023 200,000 (4) $ 28.00 200,000 $ 101,004 June 1-30, 2023 15,558 (3) $ 33.74 — $ 101,004 Total 468,860 $ 27.04 (1) Based on settlement date. (2) Based on the $ 135 million share repurchase authorization. (3) Surrendered by employees as payment of taxes withheld on the vesting of restricted stock and/or restricted stock units. (4) Purchased as part of the repurchase program announced in October 2022. There wer e no cla ss B common shares that were surrendered or repurchased during the quarters and nine months ended September 30, 2024 or 2023. Each class A common share ha s one vote and each class B common share has ten vot es. As of September 30, 2024, Globa l Indemnity Group, LLC’s class A common shares were held by approximately 135 shareholders of record. There were two holders of record of Global Indemnity Group, LLC’s class B common shares, all of whom are affiliated investment funds of Fox Paine & Company, LLC, as of September 30, 2024 . Global Indemnity Group, LLC’s preferred shares were held by 1 ho lder of record, an affiliate of Fox Paine & Company, LLC, as of September 30, 2024. Please see Note 15 of the notes to the consolidated financial statements in Item 8 Part II of the Company’s 2023 Annual Report on Form 10-K for more information on the Company’s repurchase program. Distributions Quarterly distribution payments of $ 0.35 per common share were declared during the nine months ended September 30, 2024 as follows: Approval Date Record Date Payment Date Total Distributions Declared March 6, 2024 March 21, 2024 March 28, 2024 $ 4,752 June 6, 2024 June 21, 2024 June 28, 2024 4,774 September 19, 2024 September 30, 2024 October 7, 2024 4,782 Various (1) Various Various 18 Total $ 14,326 (1) Represents distributions declared on unvested shares, net of forfeitures. Quarterly distribution payments of $ 0.25 per common share were declared during the nine months ended September 30, 2023 as follows: Approval Date Record Date Payment Date Total Distributions Declared March 2, 2023 March 24, 2023 March 31, 2023 $ 3,410 June 1, 2023 June 23, 2023 June 30, 2023 3,375 September 28, 2023 October 9, 2023 October 16, 2023 3,385 Various (1) Various Various ( 20 ) Total $ 10,150 (1) Represents distributions declared on unvested shares, net of forfeitures. In addition, distributions paid to Global Indemnity Group, LLC's preferred shareholder were $ 0.1 million in each of the quarters ended September 30, 2024 and 2023 and $ 0.3 million in each of the nine months ended September 30, 2024 and 2023. Distributions of $ 4.8 million, which were declared on September 19, 2024 but not paid until October 7, 2024 , were included in other liabilities on the consolidated balance sheets as of September 30, 2024. There were no accrued distributions on unvested shares as of September 30, 2024 . Accrued distributions on unvested shares, which were included in other liabilities on the consolidated balance sheets, was $ 0.3 million as of December 31, 2023 . Accrued preferred distributions were less than $ 0.1 million as of both September 30, 2024 and December 31, 2023 and were also included in other liabilities on the consolidated balance sheets. Please see Note 15 of the notes to the consolidated financial statements in Item 8 Part II of the Company’s 2023 Annual Report on Form 10-K for more information on the Company’s distribution program.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions Fox Paine Entities Pursuant to Global Indemnity Group, LLC’s Limited Liability Company Agreement (“LLCA”), Fox Paine Capital Fund II International, L.P. (the “Fox Paine Fund”), together with Fox Mercury Investments, L.P. and certain of its affiliates (the “FM Entities”), and Fox Paine & Company LLC (collectively, the “Fox Paine Entities”) currently constitute a Class B Majority Shareholder (as defined in the LLCA) and, as such, have the right to appoint a number of Global Indemnity Group, LLC’s directors equal in aggregate to the pro rata percentage of the voting power in Global Indemnity Group, LLC beneficially held by the Fox Paine Entities, rounded up to the nearest whole number of directors. The Fox Paine Entities beneficially own shares representing approximately 83.6 % of the voting power of Global Indemnity Group, LLC as of September 30, 2024. The Fox Paine Entities control the appointment or election of all of Global Indemnity Group, LLC’s Directors due to the LLCA and their controlling share ownership. Global Indemnity Group, LLC’s Chairman is the Chief Executive and founder of Fox Paine & Company, LLC. Management fee expense of $ 0.8 million was incurred during each of the quarters ended September 30, 2024 and 2023 and management fee expense of $ 2.4 million and $ 2.3 million was incurred during the nine months ended September 30, 2024 and 2023, respectively. Prepaid management fees, which were included in other assets on the consolidated balance sheets, were $ 3.0 million and $ 2.1 million as of September 30, 2024 and December 31, 2023, respectively. In addition, Fox Paine & Company, LLC may also propose and negotiate transaction fees with the Company subject to the provisions of the Company’s related party transaction and conflict matter policies, including approval of Global Indemnity Group, LLC’s Conflicts Committee of the Board of Directors, for those services from time to time. Each of the Company’s transactions with Fox Paine & Company, LLC are reviewed and approved by Global Indemnity Group, LLC’s Conflicts Committee, which is composed of independent directors, and the Board of Directors (other than Saul A. Fox, Chairman of the Board of Directors of Global Indemnity Group, LLC and Chief Executive of Fox Paine & Company, LLC, who is not a member of the Conflicts Committee and recused himself from the Board of Directors’ deliberations related to fees paid to Fox Paine & Company, LLC or its affiliates). Greenberg Traurig, LLP’s The Company incurred less than $ 0.1 million and $ 0.2 million for legal services rendered by Greenberg Traurig, LLP during the quarter and nine months ended September 30, 2024 , respectively. Fred Karlinsky, Shareholder and Co-Chair of Greenberg Traurig, LLP, has been a member of Global Indemnity Group, LLC's Board of Directors since December 5, 2023 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Legal Proceedings The Company is, from time to time, involved in various legal proceedings in the ordinary course of business. The Company maintains insurance and reinsurance coverage for such risks in amounts that it considers adequate. However, there can be no assurance that the insurance and reinsurance coverage that the Company maintains is sufficient or will be available in adequate amounts or at a reasonable cost. The Company does not believe that the resolution of any currently pending legal proceedings, either individually or taken as a whole, will have a material adverse effect on its business, results of operations, cash flows, or financial condition. There is a greater potential for disputes with reinsurers who are in runoff. Some of the Company’s reinsurers have operations that are in runoff, and therefore, the Company closely monitors those relationships. The Company anticipates that, similar to the rest of the insurance and reinsurance industry, it will continue to be subject to litigation and arbitration proceedings in the ordinary course of business. Commitments In 2014, the Company entered into a $ 50 million commitment to purchase an alternative investment vehicle which is comprised of European non-performing loans. As of September 30, 2024 , the Company has funded $ 35.8 million of this commitment leaving $ 14.2 million as unfunded. Since the investment period has concluded, the Company does not expect any capital calls will be made prospectively. Other Commitments The Company is party to a Management Agreement, as amended, with Fox Paine & Company, LLC, whereby in connection with certain management services provided to it by Fox Paine & Company, LLC, the Company agreed to pay an annual management fee to Fox Paine & Company, LLC. See Note 9 above for additional information pertaining to this management agreement.

Share-Based Compensation Plans

Share-Based Compensation Plans	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation Plans	11. Share-Based Compensation Plans Options During the nine months ended September 30, 2024, the Company gr anted 550,000 Time-Based Stock Options at an average strike price of $ 30.73 . Of this amount, 200,000 Time-Based Stock Options will vest in four equal tranches of 25 % on the first business day of each quarter in 2024 . The remaining 350,000 Time-Based Stock Options will vest one-third on each of March 6, 2025 , March 6, 2026 , and March 6, 2027 . No stock options were granted during the quarter ended September 30, 2024 or the quarter and nine months ended September 30, 2023 . No unvested stock options were forfeited during the quarters and nine months ended September 30, 2024 or 2023. Restricted Shares / Restricted Stock Units There wer e no restricted class A common shares or restricted stock units granted to key employees during the quarters and nine months ended September 30, 2024 and 2023 . There were no rest ricted class A common shares or restricted stock units forfeited during the quarter and nine months ended September 30, 2024 . There were 4,282 restricted stock units forfeited during the quarter and nine months ended September 30, 2023 . There were no restricted class A common shares forfeited during the quarter and nine months ended September 30, 2023. Th ere were no restricted stock units that vested during the quarters ended September 30, 2024 and 2023 . There were 65,182 and 61,652 restricted stock units that vested during the nine months ended September 30, 2024 and 2023, respectively. Upon vesting, the restricted stock units converted to restricted class A common shares. During the quarters ended September 30, 2024 and 2023 , the Company granted 23,556 and 19,887 class A common shares, respectively, at a weighted average grant date value of $ 31.16 and $ 33.83 per share, respectively, to non-employee directors of the Company under the Plan. During the nine months ended September 30, 2024 and 2023 , the Company granted 74,146 and 68,592 class A common shares, respectively, at a weighted average grant date value of $ 30.74 and $ 29.43 per share, respectively, to non-employee directors of the Company under the Plan . All shares granted to non-employee directors of the Company are fully vested but are subject to certain restrictions. Rule 10b5-1 Trading Plans The Company did not have any Rule 10b5-1 Trading Plans in place during the nine months ended September 30, 2024 and 2023 .

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	12. Earnings Per Share Earnings per share have been computed using the weighted average number of common shares and common share equivalents outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share: Quarters Ended Nine Months Ended (Dollars in thousands, except share and per share data) 2024 2023 2024 2023 Numerator: Net income $ 12,760 $ 7,700 $ 34,219 $ 19,531 Less: preferred stock distributions 110 110 330 330 Net income available to common shareholders $ 12,650 $ 7,590 $ 33,889 $ 19,201 Denominator: Weighted average shares for basic earnings per share 13,664,542 13,522,874 13,617,960 13,556,665 Non-vested restricted stock units — 65,609 — 57,721 Options 136,335 225,962 66,058 184,490 Weighted average shares for diluted earnings per share 13,800,877 13,814,445 13,684,018 13,798,876 Earnings per share - Basic $ 0.93 $ 0.56 $ 2.49 $ 1.42 Earnings per share - Diluted $ 0.92 $ 0.55 $ 2.48 $ 1.39 The weighted average shares outstanding used to determine dilutive earnings per share does not include 550,000 options for both the quarter and nine months ended September 30, 2024 and 300,000 and 346,667 options for the quarter and nine months ended September 30, 2023 , respectively, which were deemed to be anti-dilutive.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	13. Segment Information During the fourth quarter of 2023, the Company restructured its insurance operations to strengthen its market presence and enhance GBLI's focus on core products and made the decision to manage the business through two segments, Penn-America and Non-Core Operations. Management believes these segments allow users of the Company’s financial statements to better understand the Company's performance, better assess prospects for future net cash flows, and make more informed judgments about the Company as a whole. Segment results for prior years have been revised to reflect these changes. The Company manages the distribution of its core product offerings through Penn-America. Penn-America offers specialty property and casualty products designed for GBLI's Wholesale Commercial, Specialty Products, InsurTech, and Assumed Reinsurance product offerings. The Company also has a Non-Core Operations segment that contains lines of business that have been de-emphasized or are no longer being written. The following are tabulations of business segment information for the quarters and nine months ended September 30, 2024 and 2023. Corporate information is included to reconcile segment data to the consolidated financial statements. Quarter Ended September 30, 2024 Penn- Non-Core Operations Total Revenues: Gross written premiums $ 103,244 $ ( 3,477 ) $ 99,767 Net written premiums $ 100,712 $ ( 3,535 ) $ 97,177 Net earned premiums $ 93,982 $ 1,431 $ 95,413 Other income 337 35 372 Total revenues 94,319 1,466 95,785 Losses and Expenses: Net losses and loss adjustment expenses 51,382 1,018 52,400 Acquisition costs and other underwriting expenses 35,629 1,924 37,553 Income (loss) from segments $ 7,308 $ ( 1,476 ) $ 5,832 Unallocated Items: Net investment income 16,488 Net realized investment losses ( 512 ) Corporate and other operating expenses ( 5,923 ) Income before income taxes 15,885 Income tax expense ( 3,125 ) Net income $ 12,760 Segment assets $ 1,044,750 $ 562,403 $ 1,607,153 Corporate assets 153,964 Total assets $ 1,761,117 Quarter Ended September 30, 2023 Penn- Non-Core Operations Total Revenues: Gross written premiums $ 87,004 $ 11,922 $ 98,926 Net written premiums $ 84,096 $ 11,527 $ 95,623 Net earned premiums $ 83,462 $ 28,233 $ 111,695 Other income 275 24 299 Total revenues 83,737 28,257 111,994 Losses and Expenses: Net losses and loss adjustment expenses 56,020 9,096 65,116 Acquisition costs and other underwriting expenses 32,210 13,992 46,202 Income (loss) from segments $ ( 4,493 ) $ 5,169 $ 676 Unallocated Items: Net investment income 14,200 Net realized investment losses ( 133 ) Corporate and other operating expenses ( 5,280 ) Income before income taxes 9,463 Income tax expense ( 1,763 ) Net income $ 7,700 Segment assets $ 967,573 $ 684,187 $ 1,651,760 Corporate assets 116,086 Total assets $ 1,767,846 Nine Months Ended September 30, 2024 Penn- Non-Core Operations Total Revenues: Gross written premiums $ 297,844 $ ( 3,883 ) $ 293,961 Net written premiums $ 290,910 $ ( 3,897 ) $ 287,013 Net earned premiums $ 272,467 $ 12,339 $ 284,806 Other income 1,020 54 1,074 Total revenues 273,487 12,393 285,880 Losses and Expenses: Net losses and loss adjustment expenses 151,417 8,029 159,446 Acquisition costs and other underwriting expenses 104,454 7,336 111,790 Income (loss) from segments $ 17,616 $ ( 2,972 ) $ 14,644 Unallocated Items: Net investment income 46,319 Net realized investment gains 540 Corporate and other operating expenses ( 18,662 ) Interest expense ( 17 ) Income before income taxes 42,824 Income tax expense ( 8,605 ) Net income $ 34,219 Segment assets $ 1,044,750 $ 562,403 $ 1,607,153 Corporate assets 153,964 Total assets $ 1,761,117 Nine Months Ended September 30, 2023 Penn- Non-Core Operations Total Revenues: Gross written premiums $ 277,443 $ 54,568 $ 332,011 Net written premiums $ 266,837 $ 50,643 $ 317,480 Net earned premiums $ 266,759 $ 114,164 $ 380,923 Other income 808 127 935 Total revenues 267,567 114,291 381,858 Losses and Expenses: Net losses and loss adjustment expenses 167,725 63,474 231,199 Acquisition costs and other underwriting expenses 101,311 45,470 146,781 Income (loss) from segments $ ( 1,469 ) $ 5,347 $ 3,878 Unallocated Items: Net investment income 39,424 Net realized investment losses ( 2,414 ) Corporate and other operating expenses ( 16,638 ) Interest expense ( 12 ) Income before income taxes 24,238 Income tax expense ( 4,707 ) Net income $ 19,531 Segment assets $ 967,573 $ 684,187 $ 1,651,760 Corporate assets 116,086 Total assets $ 1,767,846

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	14. New Accounting Pronouncements The Company did not adopt any new accounting pronouncements during the nine months ended September 30, 2024. Please see Note 25 of the notes to the consolidated financial statements in Item 8 Part II of the Company’s 2023 Annual Report on Form 10-K for more information on accounting pronouncements issued but not yet adopted.

Principles of Consolidation a_2

Principles of Consolidation and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Segments	The interim consolidated financial statements are unaudited, but have been prepared in conformity with United States of America generally accepted accounting principles (“GAAP”), which differs in certain respects from those principles followed in reports to insurance regulatory authorities. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Intercompany Balances and Transactions	The unaudited consolidated financial statements include all adjustments that are, in the opinion of management, of a normal recurring nature and are necessary for a fair statement of results for the interim periods. Results of operations for the quarters and nine months ended September 30, 2024 and 2023 are not necessarily indicative of the results of a full year. The accompanying notes to the unaudited consolidated financial statements should be read in conjunction with the notes to the consolidated financial statements contained in the Company’s 2023 Annual Report on Form 10-K. The consolidated financial statements include the accounts of Global Indemnity Group, LLC and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Investments	The Company regularly performs various analytical valuation procedures with respect to its investments, including reviewing each available for sale debt security in an unrealized loss position to assess whether the decline in fair value below amortized cost basis has resulted from a credit loss or other factors. In assessing whether a credit loss exists, the Company compares the present value of the cash flows expected to be collected from the security to the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost basis of the security, a credit loss exists and an allowance for expected credit losses is recorded. Subsequent changes in the allowances are recorded in the period of change as either credit loss expense or reversal of credit loss expense. Any declines in value related to factors other than credit losses and the intent to sell are recorded through other comprehensive income, net of taxes. For fixed maturities, the factors considered in reaching the conclusion that a credit loss exists include, among others, whether: (1) the extent to which the fair value is less than the amortized cost basis; (2) the issuer is in financial distress; (3) the investment is secured; (4) a significant credit rating action occurred; (5) scheduled interest payments were delayed or missed; (6) changes in laws or regulations have affected an issuer or industry; (7) the investment has an unrealized loss and was identified by the Company’s investment manager as an investment to be sold before recovery or maturity; (8) the investment failed cash flow projection testing to determine if anticipated principal and interest payments will be realized; and (9) changes in US Treasury rates and/or credit spreads since original purchase to identify whether the unrealized loss is simply due to interest rate movement. According to accounting guidance for debt securities in an unrealized loss position, the Company is required to assess whether it has the intent to sell the debt security or more likely than not will be required to sell the debt security before the anticipated recovery. If either of these conditions is met, any allowance for expected credit losses is written off and the amortized cost basis is written down to the fair value of the fixed maturity security with any incremental impairment reported in earnings. The new amortized cost basis shall not be adjusted for subsequent recoveries in fair value. Subject to the risks and uncertainties in evaluating the potential impairment of a security's value, the impairment evaluation conducted by the Company as of September 30, 2024 and December 31, 2023 concluded the unrealized losses in the tables above are non-credit losses on securities where management does not intend to sell, and it is more likely than not that the Company will not be required to sell the security before recovery. The Company elected the practical expedient to exclude accrued interest from both the fair value and the amortized cost basis of the available for sale debt securities for the purposes of identifying and measuring an impairment and to not measure an allowance for expected credit losses for accrued interest receivables. Accrued interest receivable is written off through net realized investment gains (losses) at the time the issuer of the bond defaults or is expected to default on payment. The Company made an accounting policy election to present the accrued interest receivable balance with other assets on the Company’s consolidated statements of financial position. Accrued interest receivable related to fixed maturities was $ 3.5 million and $ 7.5 million as of September 30, 2024 and December 31, 2023 , respectively.
Fair Value Measurement	The Company’s invested assets are carried at their fair value and are categorized based upon a fair value hierarchy: • Level 1 – inputs utilize quoted prices (unadjusted) in active markets for identical assets that the Company has the ability to access at the measurement date. • Level 2 – inputs utilize other than quoted prices included in Level 1 that are observable for similar assets, either directly or indirectly. • Level 3 – inputs are unobservable for the asset, and include situations where there is little, if any, market activity for the asset. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset. The following is a description of the valuation methodologies used by the Company’s pricing vendors for investment securities carried at fair value: • Equity security prices are received from primary and secondary exchanges. • Corporate and agency bonds, as well as preferred stock, are evaluated by utilizing a spread to a benchmark curve. Bonds with similar characteristics are grouped into specific sectors. Inputs for both asset classes consist of trade prices, broker quotes, the new issue market, and prices on comparable securities. • Data from commercial vendors is aggregated with market information, then converted into an option adjusted spread (“OAS”) matrix and prepayment model used for collateralized mortgage obligations (“CMO”). CMOs are categorized with mortgage-backed securities in the tables listed above. For asset-backed securities, spread data is derived from trade prices, dealer quotations, and research reports. For both asset classes, evaluations utilize standard inputs plus new issue data, and collateral performance. The evaluated pricing models incorporate cash flows, broker quotes, market trades, historical prepayment speeds, and dealer projected speeds. • For obligations of state and political subdivisions, an attribute-based modeling system is used. The pricing model incorporates trades, market clearing yields, market color, and fundamental credit research. • U.S. treasuries are evaluated by obtaining feeds from a number of live data sources including primary and secondary dealers as well as inter-dealer brokers. • For mortgage-backed securities, various external analytical products are utilized and purchased from commercial vendors.
Statutory Income Tax Rates	The statutory income tax rate of each country is applied against the expected annual taxable income of the Company in each country to estimate the annual income tax expense.
Loss Reserves and Prior Year Development	When analyzing loss reserves and prior year development, the Company considers many factors, including the frequency and severity of claims, loss trends, case reserve settlements that may have resulted in significant development, and any other additional or pertinent factors that may impact reserve estimates.
Earnings Per Share	Earnings per share have been computed using the weighted average number of common shares and common share equivalents outstanding during the period.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost and Estimated Fair Value of Company's Fixed Maturities Securities	The amortized cost and estimated fair value of the Company’s fixed maturities securities were as follows as of September 30, 2024 and December 31, 2023: (Dollars in thousands) Amortized Allowance for Expected Credit Losses Gross Gross Estimated As of September 30, 2024 Fixed maturities: U.S. treasuries $ 889,891 $ — $ 1,380 $ ( 683 ) $ 890,588 Obligations of states and political subdivisions 17,807 — — ( 634 ) 17,173 Mortgage-backed securities 49,317 — 598 ( 2,438 ) 47,477 Asset-backed securities 159,166 — 1,312 ( 2,810 ) 157,668 Commercial mortgage-backed securities 76,675 — 77 ( 2,526 ) 74,226 Corporate bonds 149,857 — 317 ( 2,777 ) 147,397 Foreign corporate bonds 62,141 — 163 ( 1,604 ) 60,700 Total fixed maturities $ 1,404,854 $ — $ 3,847 $ ( 13,472 ) $ 1,395,229 (Dollars in thousands) Amortized Allowance for Expected Credit Losses Gross Gross Estimated As of December 31, 2023 Fixed maturities: U.S. treasuries $ 497,099 $ — $ 515 $ ( 3,391 ) $ 494,223 Obligations of states and political subdivisions 27,326 — — ( 1,176 ) 26,150 Mortgage-backed securities 63,173 — 229 ( 4,475 ) 58,927 Asset-backed securities 207,375 — 668 ( 5,091 ) 202,952 Commercial mortgage-backed securities 84,062 — 12 ( 4,994 ) 79,080 Corporate bonds 298,526 — 116 ( 6,929 ) 291,713 Foreign corporate bonds 144,531 — 40 ( 3,823 ) 140,748 Total fixed maturities $ 1,322,092 $ — $ 1,580 $ ( 29,879 ) $ 1,293,793
Summary of Amortized Cost and Estimated Fair Value Through Fixed Maturities	The amortized cost and estimated fair value of the Company’s fixed maturities portfolio classified as available for sale at September 30, 2024, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) Amortized Estimated Due in one year or less $ 945,787 $ 946,078 Due in one year through five years 153,185 150,427 Due in five years through ten years 10,807 10,090 Due after ten years 9,917 9,263 Mortgage-backed securities 49,317 47,477 Asset-backed securities 159,166 157,668 Commercial mortgage-backed securities 76,675 74,226 Total $ 1,404,854 $ 1,395,229
Summary of Securities With Gross Unrealized Losses	The following table contains an analysis of the Company’s fixed income securities with gross unrealized losses that are not deemed to have credit losses, categorized by the period that the securities were in a continuous loss position as of September 30, 2024. The fair value amounts reported in the table are estimates that are prepared using the process described in Note 4. Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Gross Fair Value Gross Fair Value Gross Fixed maturities: U.S. treasuries $ 18,829 $ ( 4 ) $ 67,499 $ ( 679 ) $ 86,328 $ ( 683 ) Obligations of states and political subdivisions — — 17,173 ( 634 ) 17,173 ( 634 ) Mortgage-backed securities 6,235 ( 127 ) 24,167 ( 2,311 ) 30,402 ( 2,438 ) Asset-backed securities 4,130 ( 49 ) 56,171 ( 2,761 ) 60,301 ( 2,810 ) Commercial mortgage-backed securities 9 — 65,051 ( 2,526 ) 65,060 ( 2,526 ) Corporate bonds 6,043 ( 11 ) 106,762 ( 2,766 ) 112,805 ( 2,777 ) Foreign corporate bonds 520 ( 7 ) 50,111 ( 1,597 ) 50,631 ( 1,604 ) Total fixed maturities $ 35,766 $ ( 198 ) $ 386,934 $ ( 13,274 ) $ 422,700 $ ( 13,472 ) The following table contains an analysis of the Company’s fixed income securities with gross unrealized losses that are not deemed to have credit losses, categorized by the period that the securities were in a continuous loss position as of December 31, 2023. The fair value amounts reported in the table are estimates that are prepared using the process described in Note 4. Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Gross Fair Value Gross Fair Value Gross Fixed maturities: U.S. treasuries $ 55,447 $ ( 342 ) $ 239,254 $ ( 3,049 ) $ 294,701 $ ( 3,391 ) Obligations of states and political subdivisions — — 26,150 ( 1,176 ) 26,150 ( 1,176 ) Mortgage-backed securities 12,432 ( 406 ) 39,734 ( 4,069 ) 52,166 ( 4,475 ) Asset-backed securities 38,828 ( 469 ) 108,947 ( 4,622 ) 147,775 ( 5,091 ) Commercial mortgage-backed securities 13 ( 2 ) 76,467 ( 4,992 ) 76,480 ( 4,994 ) Corporate bonds 34,658 ( 264 ) 231,816 ( 6,665 ) 266,474 ( 6,929 ) Foreign corporate bonds 7,096 ( 13 ) 111,750 ( 3,810 ) 118,846 ( 3,823 ) Total fixed maturities $ 148,474 $ ( 1,496 ) $ 834,118 $ ( 28,383 ) $ 982,592 $ ( 29,879 )
Schedule of Accumulated Other Comprehensive Income (Loss), Net of Tax	Accumulated other comprehensive income (loss), net of t ax, as of September 30, 2024 and December 31, 2023 was as follows: (Dollars in thousands) September 30, 2024 December 31, 2023 Net unrealized gains (losses) from: Fixed maturities $ ( 9,625 ) $ ( 28,299 ) Foreign currency fluctuations ( 140 ) ( 187 ) Deferred taxes 1,918 5,623 Accumulated other comprehensive income (loss), net of tax $ ( 7,847 ) $ ( 22,863 )
Changes in Accumulated Other Comprehensive Income (Loss)	The following tables present the changes in accumulated other c omprehensive income (loss), by components, for the quarters and nine months ended September 30, 2024 and 2023: Quarter Ended September 30, 2024 Unrealized Gains and Losses on Available for Sale Securities Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Beginning balance, net of tax $ ( 17,882 ) $ ( 169 ) $ ( 18,051 ) Other comprehensive income before reclassification, before tax 11,912 74 11,986 Amounts reclassified from accumulated other comprehensive income, before tax 801 — 801 Other comprehensive income, before tax 12,713 74 12,787 Income tax expense ( 2,568 ) ( 15 ) ( 2,583 ) Ending balance, net of tax $ ( 7,737 ) $ ( 110 ) $ ( 7,847 ) Quarter Ended September 30, 2023 Unrealized Gains and Losses on Available for Sale Securities Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Beginning balance, net of tax $ ( 36,912 ) $ ( 259 ) $ ( 37,171 ) Other comprehensive loss before reclassification, before tax ( 1,191 ) ( 181 ) ( 1,372 ) Amounts reclassified from accumulated other comprehensive income, before tax 118 — 118 Other comprehensive loss, before tax ( 1,073 ) ( 181 ) ( 1,254 ) Income tax benefit 270 38 308 Ending balance, net of tax $ ( 37,715 ) $ ( 402 ) $ ( 38,117 ) Nine Months Ended September 30, 2024 Unrealized Gains and Losses on Available for Sale Securities Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Beginning balance, net of tax $ ( 22,715 ) $ ( 148 ) $ ( 22,863 ) Other comprehensive income before reclassification, before tax 17,841 47 17,888 Amounts reclassified from accumulated other comprehensive income, before tax 833 — 833 Other comprehensive income, before tax 18,674 47 18,721 Income tax expense ( 3,696 ) ( 9 ) ( 3,705 ) Ending balance, net of tax $ ( 7,737 ) $ ( 110 ) $ ( 7,847 ) Nine Months Ended September 30, 2023 Unrealized Gains and Losses on Available for Sale Securities Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Beginning balance, net of tax $ ( 42,958 ) $ ( 100 ) $ ( 43,058 ) Other comprehensive income (loss) before reclassification, before tax 5,179 ( 382 ) 4,797 Amounts reclassified from accumulated other comprehensive income, before tax 1,311 — 1,311 Other comprehensive income (loss), before tax 6,490 ( 382 ) 6,108 Income tax benefit (expense) ( 1,247 ) 80 ( 1,167 ) Ending balance, net of tax $ ( 37,715 ) $ ( 402 ) $ ( 38,117 )
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)	The reclassifications out of accumulated other compre hensive income (loss) for the quarters and nine months ended September 30, 2024 and 2023 were as follows: Amounts Reclassified from (Dollars in thousands) Quarters Ended September 30, Details about Accumulated Other Affected Line Item in the Consolidated 2024 2023 Unrealized gains and losses on available for sale securities Other net realized investment losses $ 801 $ 118 Income tax benefit ( 168 ) ( 24 ) Total reclassifications, net of tax $ 633 $ 94 Amounts Reclassified from (Dollars in thousands) Nine Months Ended September 30, Details about Accumulated Other Affected Line Item in the Consolidated 2024 2023 Unrealized gains and losses on available for sale securities Other net realized investment losses $ 833 $ 1,311 Income tax benefit ( 168 ) ( 251 ) Total reclassifications, net of tax $ 665 $ 1,060
Components of Net Realized Investment Gains (Losses)	The components of net realized investment gains (losses) fo r the quarters and nine months ended September 30, 2024 and 2023 were as follows: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Fixed maturities: Gross realized gains $ 5 $ 15 $ 54 $ 29 Gross realized losses ( 806 ) ( 133 ) ( 887 ) ( 1,340 ) Net realized gains (losses) ( 801 ) ( 118 ) ( 833 ) ( 1,311 ) Equity securities: Gross realized gains 295 163 1,384 726 Gross realized losses ( 6 ) ( 178 ) ( 11 ) ( 1,829 ) Net realized gains (losses) 289 ( 15 ) 1,373 ( 1,103 ) Total net realized investment gains (losses) $ ( 512 ) $ ( 133 ) $ 540 $ ( 2,414 )
Summary of Calculation of Realized Gains and Losses	The following table shows the calculation of the portion of realized gains and losses related to equity securities held as of September 30, 2024 and 2023: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Net gains (losses) recognized during the period on equity securities $ 289 $ ( 15 ) $ 1,373 $ ( 1,103 ) Less: net gains (losses) recognized during the period on equity securities sold during the period ( 157 ) 15 ( 423 ) 32 Unrealized gains (losses) recognized during the reporting period on equity securities still held $ 446 $ ( 30 ) $ 1,796 $ ( 1,135 )
Proceeds from Sales and Redemptions of Available-for-Sale Securities	The proceeds from sales and redemptions of available for sale and equity securities resulting in net realized inv estment gains (losses) for the nine months ended September 30, 2024 and 2023 were as follows: Nine Months Ended September 30, (Dollars in thousands) 2024 2023 Fixed maturities $ 80,236 $ 114,058 Equity securities - 24
Schedule of Investment Income	The sources of net investment income for the quarters and nine months ended September 30, 2024 and 2023 were as follows: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Fixed maturities $ 15,457 $ 12,961 $ 43,617 $ 36,734 Equity securities 181 188 615 635 Cash and cash equivalents 800 501 2,121 1,064 Other invested assets 555 916 1,486 2,080 Total investment income 16,993 14,566 47,839 40,513 Investment expense ( 505 ) ( 366 ) ( 1,520 ) ( 1,089 ) Net investment income $ 16,488 $ 14,200 $ 46,319 $ 39,424
Schedule of Total Investment Return	The Company’s total investment return on a pre-tax basis for the quarters and nine months ended September 30, 2024 and 2023 were as follows: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Net investment income $ 16,488 $ 14,200 $ 46,319 $ 39,424 Net realized investment gains (losses) ( 512 ) ( 133 ) 540 ( 2,414 ) Change in unrealized holding gains 12,787 ( 1,254 ) 18,721 6,108 Net realized and unrealized investment returns 12,275 ( 1,387 ) 19,261 3,694 Total investment return $ 28,763 $ 12,813 $ 65,580 $ 43,118 Total investment return % (1) 2.0 % 0.9 % 4.6 % 3.2 % Average investment portfolio (2) $ 1,451,641 $ 1,355,077 $ 1,429,253 $ 1,354,727 (1) Not annualized. (2) Average of total cash and invested assets, net of receivable/payable for securities, as of the beginning and end of the period.
Summary of Estimated Fair Values of Bonds Held on Deposit	The fair values were as follows as of September 30, 2024 and December 31, 2023: Estimated Fair Value (Dollars in thousands) September 30, 2024 December 31, 2023 On deposit with governmental authorities $ 19,627 $ 19,262 Held in trust pursuant to third party requirements 157,879 150,796 Total (1) $ 177,506 $ 170,058 (1) Includes cash and cash equivalents o f $ 3.9 mi llion and $ 9.0 million at September 30, 2024 and December 31, 2023 , respectively, with the remainder related to bonds available for sale.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Company's Invested Assets Measured at Fair Value on Recurring Basis	The following table presents information about the Company’s invested assets measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. Fair Value Measurements As of September 30, 2024 Level 1 Level 2 Level 3 Total Assets: Fixed maturities: U.S. treasuries $ 890,588 $ — $ — $ 890,588 Obligations of states and political subdivisions — 17,173 — 17,173 Mortgage-backed securities — 47,477 — 47,477 Commercial mortgage-backed securities — 74,226 — 74,226 Asset-backed securities — 157,668 — 157,668 Corporate bonds — 147,397 — 147,397 Foreign corporate bonds — 60,700 — 60,700 Total fixed maturities 890,588 504,641 — 1,395,229 Equity securities — 12,347 — 12,347 Total assets measured at fair value $ 890,588 $ 516,988 $ — $ 1,407,576 Fair Value Measurements As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Fixed maturities: U.S. treasuries $ 494,223 $ — $ — $ 494,223 Obligations of states and political subdivisions — 26,150 — 26,150 Mortgage-backed securities — 58,927 — 58,927 Commercial mortgage-backed securities — 79,080 — 79,080 Asset-backed securities — 202,952 — 202,952 Corporate bonds — 291,713 — 291,713 Foreign corporate bonds — 140,748 — 140,748 Total fixed maturities 494,223 799,570 — 1,293,793 Equity securities — 16,508 — 16,508 Total assets measured at fair value $ 494,223 $ 816,078 $ — $ 1,310,301
Changes in Level 3 Investments Measured at Fair Value on Recurring Basis	The following table presents changes in Level 3 investments measured at fair value on a recurring basis for the quarters and nine months ended September 30, 2024 and 2023: Quarters Ended Nine Months Ended (Dollars in thousands) 2024 2023 2024 2023 Beginning balance $ — $ 3,787 $ — $ 4,571 Total gains / (losses) (realized / unrealized): Included in accumulated other comprehensive income (loss) — 3 — 10 Included in earnings attributable to realized gains / losses — 24 — ( 148 ) Amortization of bond premium and discount, net — 1 — 5 Purchases — 182 — 295 Sales — ( 428 ) — ( 1,164 ) Ending balance $ — $ 3,569 $ — $ 3,569 Gains (losses) included in earnings attributable to the change in unrealized gains (losses) related to assets still held at end of reporting period $ — $ 31 $ — $ ( 131 )
Fair Value and Future Funding Commitments Related to These Investments	The following table provides the fair value and future funding commitments related to these investments at September 30, 2024 and December 31, 2023. September 30, 2024 December 31, 2023 (Dollars in thousands) Fair Value Future Funding Fair Value Future Funding European Non-Performing Loan Fund, LP (1) $ 3,406 $ 14,214 $ 4,048 $ 14,214 Mortgage Debt Fund, LP (2) 8,588 — 8,172 — Global Debt Fund, LP (3) 17,465 — 26,016 — Total $ 29,459 $ 14,214 $ 38,236 $ 14,214 (1) This limited partnership invests in distressed securities and assets through senior and subordinated, secured and unsecured debt and equity, in both public and private large-cap and middle-market companies. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. As of September 30, 2024 , the Company has funded $ 35.8 million of this commitment leaving $ 14.2 million as unfunded. Since the investment period has concluded, the Company does not expect any capital calls will be made prospectively. (2) This limited partnership invests in REIT qualifying assets such as mortgage loans, investor property loans, and commercial mortgage loans. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. (3) This limited partnership invests in performing, stressed or distressed securities and loans across the global fixed income markets. The Company does have the contractual option to withdraw all or a portion of its limited partnership interest by providing notice to the fund. On July 31, 2023, the Company provided the Global Debt Fund, LP with a formal withdrawal request to fully redeem the partnership interest. Partial redemption proceeds of $ 8.7 m illion were received during the nine months ended September 30, 2024 .

Allowance for Expected Credit_2

Allowance for Expected Credit Losses - Premium Receivables and Reinsurance Receivables (Tables)	9 Months Ended
	Sep. 30, 2024
Allowance for Credit Loss [Abstract]
Schedule of Allowance for Credit Losses Related to Premium Receivables	The following table is an analysis of the allowance for expected credit losses related to the Company's premium receivables for the quarters and nine months ended September 30, 2024 and 2023: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Beginning balance $ 4,043 $ 4,056 $ 4,796 $ 3,322 Current period provision for expected credit losses ( 522 ) 428 ( 695 ) 2,145 Write-offs ( 35 ) ( 364 ) ( 615 ) ( 1,347 ) Ending balance $ 3,486 $ 4,120 $ 3,486 $ 4,120

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Components of Income Tax Expense	The following table summarizes the components of income tax expense: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Current income tax benefit: U.S. Federal $ — $ ( 4 ) $ — $ ( 4 ) Total current income tax benefit $ — $ ( 4 ) $ — $ ( 4 ) Deferred income tax expense: U.S. Federal $ 3,125 $ 1,767 $ 8,605 $ 4,711 Total deferred income tax expense 3,125 1,767 8,605 4,711 Total income tax expense $ 3,125 $ 1,763 $ 8,605 $ 4,707
Differences in Tax Provision for Financial Statement Purposes and Expected Tax Provision at Weighted Average Tax Rate	The following tables summarize the differences between the tax provision for financial statement purposes and the expected tax provision at the weighted average tax rate: Quarters Ended September 30, 2024 2023 (Dollars in thousands) Amount % of Pre- Amount % of Pre- Expected tax provision at weighted average tax rate $ 3,336 21.0 % $ 1,987 21.0 % Adjustments: Non-deductible executive compensation 105 0.7 53 0.6 Dividend exclusion ( 16 ) ( 0.1 ) ( 16 ) ( 0.2 ) Parent income treated as partnership for tax ( 324 ) ( 2.0 ) ( 326 ) ( 3.4 ) Meals & Entertainment 7 — 68 0.7 Other 17 0.1 ( 3 ) ( 0.1 ) Effective income tax expense $ 3,125 19.7 % $ 1,763 18.6 % Nine Months Ended September 30, 2024 2023 (Dollars in thousands) Amount % of Pre- Amount % of Pre- Expected tax provision at weighted average tax rate $ 8,993 21.0 % $ 5,090 21.0 % Adjustments: Non-deductible executive compensation 315 0.7 158 0.7 Dividend exclusion ( 54 ) ( 0.1 ) ( 54 ) ( 0.2 ) Parent income treated as partnership for tax ( 690 ) ( 1.6 ) ( 668 ) ( 2.8 ) Meals & Entertainment 44 0.1 197 0.8 Other ( 3 ) — ( 16 ) ( 0.1 ) Effective income tax expense $ 8,605 20.1 % $ 4,707 19.4 %

Liability for Unpaid Losses a_2

Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Summarized Activity in Liability for Unpaid Losses and Loss Adjustment Expenses	Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Quarters Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Balance at beginning of period $ 844,206 $ 866,951 $ 850,599 $ 832,404 Less: ceded reinsurance receivables 70,392 73,933 72,829 73,021 Net balance at beginning of period 773,814 793,018 777,770 759,383 Incurred losses and loss adjustment expenses related to: Current year 52,434 65,167 159,561 231,199 Prior years ( 34 ) ( 51 ) ( 115 ) — Total incurred losses and loss adjustment expenses 52,400 65,116 159,446 231,199 Paid losses and loss adjustment expenses related to: Current year 8,415 20,990 32,501 55,174 Prior years 48,520 50,361 135,436 148,625 Total paid losses and loss adjustment expenses 56,935 71,351 167,937 203,799 Net balance at end of period 769,279 786,783 769,279 786,783 Plus: ceded reinsurance receivables 70,897 75,020 70,897 75,020 Balance at end of period $ 840,176 $ 861,803 $ 840,176 $ 861,803

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Information with Respect to Class A Common Shares that were Surrendered or Repurchased	The following table provides information with respect to the class A common shares that were surrendered or repurchased during the nine months ended September 30, 2024: (Dollars in thousands, (1) Total Number Average Total Number of Shares Approximate Dollar Value June 1-30, 2024 16,527 (3) $ 32.00 — $ 101,004 Total 16,527 $ 32.00 (1) Based on settlement date. (2) Based on the $ 135 million share repurchase authorization. (3) Surrendered by employees as payment of taxes withheld on the vesting of restricted stock and/or restricted stock units. The following table provides information with respect to the class A common shares that were surrendered or repurchased during the nine months ended September 30, 2023: (Dollars in thousands, (1) Total Number Average Total Number of Shares Approximate Dollar Value January 1-31, 2023 3,302 (3) $ 23.31 — $ — January 1-31, 2023 250,000 (4) $ 25.90 250,000 $ 106,604 April 1-30, 2023 200,000 (4) $ 28.00 200,000 $ 101,004 June 1-30, 2023 15,558 (3) $ 33.74 — $ 101,004 Total 468,860 $ 27.04 (1) Based on settlement date. (2) Based on the $ 135 million share repurchase authorization. (3) Surrendered by employees as payment of taxes withheld on the vesting of restricted stock and/or restricted stock units. (4) Purchased as part of the repurchase program announced in October 2022.
Schedule of Distributions Declared	Quarterly distribution payments of $ 0.35 per common share were declared during the nine months ended September 30, 2024 as follows: Approval Date Record Date Payment Date Total Distributions Declared March 6, 2024 March 21, 2024 March 28, 2024 $ 4,752 June 6, 2024 June 21, 2024 June 28, 2024 4,774 September 19, 2024 September 30, 2024 October 7, 2024 4,782 Various (1) Various Various 18 Total $ 14,326 (1) Represents distributions declared on unvested shares, net of forfeitures. Quarterly distribution payments of $ 0.25 per common share were declared during the nine months ended September 30, 2023 as follows: Approval Date Record Date Payment Date Total Distributions Declared March 2, 2023 March 24, 2023 March 31, 2023 $ 3,410 June 1, 2023 June 23, 2023 June 30, 2023 3,375 September 28, 2023 October 9, 2023 October 16, 2023 3,385 Various (1) Various Various ( 20 ) Total $ 10,150 (1) Represents distributions declared on unvested shares, net of forfeitures.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share: Quarters Ended Nine Months Ended (Dollars in thousands, except share and per share data) 2024 2023 2024 2023 Numerator: Net income $ 12,760 $ 7,700 $ 34,219 $ 19,531 Less: preferred stock distributions 110 110 330 330 Net income available to common shareholders $ 12,650 $ 7,590 $ 33,889 $ 19,201 Denominator: Weighted average shares for basic earnings per share 13,664,542 13,522,874 13,617,960 13,556,665 Non-vested restricted stock units — 65,609 — 57,721 Options 136,335 225,962 66,058 184,490 Weighted average shares for diluted earnings per share 13,800,877 13,814,445 13,684,018 13,798,876 Earnings per share - Basic $ 0.93 $ 0.56 $ 2.49 $ 1.42 Earnings per share - Diluted $ 0.92 $ 0.55 $ 2.48 $ 1.39

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Summary of Business Segment Information	The following are tabulations of business segment information for the quarters and nine months ended September 30, 2024 and 2023. Corporate information is included to reconcile segment data to the consolidated financial statements. Quarter Ended September 30, 2024 Penn- Non-Core Operations Total Revenues: Gross written premiums $ 103,244 $ ( 3,477 ) $ 99,767 Net written premiums $ 100,712 $ ( 3,535 ) $ 97,177 Net earned premiums $ 93,982 $ 1,431 $ 95,413 Other income 337 35 372 Total revenues 94,319 1,466 95,785 Losses and Expenses: Net losses and loss adjustment expenses 51,382 1,018 52,400 Acquisition costs and other underwriting expenses 35,629 1,924 37,553 Income (loss) from segments $ 7,308 $ ( 1,476 ) $ 5,832 Unallocated Items: Net investment income 16,488 Net realized investment losses ( 512 ) Corporate and other operating expenses ( 5,923 ) Income before income taxes 15,885 Income tax expense ( 3,125 ) Net income $ 12,760 Segment assets $ 1,044,750 $ 562,403 $ 1,607,153 Corporate assets 153,964 Total assets $ 1,761,117 Quarter Ended September 30, 2023 Penn- Non-Core Operations Total Revenues: Gross written premiums $ 87,004 $ 11,922 $ 98,926 Net written premiums $ 84,096 $ 11,527 $ 95,623 Net earned premiums $ 83,462 $ 28,233 $ 111,695 Other income 275 24 299 Total revenues 83,737 28,257 111,994 Losses and Expenses: Net losses and loss adjustment expenses 56,020 9,096 65,116 Acquisition costs and other underwriting expenses 32,210 13,992 46,202 Income (loss) from segments $ ( 4,493 ) $ 5,169 $ 676 Unallocated Items: Net investment income 14,200 Net realized investment losses ( 133 ) Corporate and other operating expenses ( 5,280 ) Income before income taxes 9,463 Income tax expense ( 1,763 ) Net income $ 7,700 Segment assets $ 967,573 $ 684,187 $ 1,651,760 Corporate assets 116,086 Total assets $ 1,767,846 Nine Months Ended September 30, 2024 Penn- Non-Core Operations Total Revenues: Gross written premiums $ 297,844 $ ( 3,883 ) $ 293,961 Net written premiums $ 290,910 $ ( 3,897 ) $ 287,013 Net earned premiums $ 272,467 $ 12,339 $ 284,806 Other income 1,020 54 1,074 Total revenues 273,487 12,393 285,880 Losses and Expenses: Net losses and loss adjustment expenses 151,417 8,029 159,446 Acquisition costs and other underwriting expenses 104,454 7,336 111,790 Income (loss) from segments $ 17,616 $ ( 2,972 ) $ 14,644 Unallocated Items: Net investment income 46,319 Net realized investment gains 540 Corporate and other operating expenses ( 18,662 ) Interest expense ( 17 ) Income before income taxes 42,824 Income tax expense ( 8,605 ) Net income $ 34,219 Segment assets $ 1,044,750 $ 562,403 $ 1,607,153 Corporate assets 153,964 Total assets $ 1,761,117 Nine Months Ended September 30, 2023 Penn- Non-Core Operations Total Revenues: Gross written premiums $ 277,443 $ 54,568 $ 332,011 Net written premiums $ 266,837 $ 50,643 $ 317,480 Net earned premiums $ 266,759 $ 114,164 $ 380,923 Other income 808 127 935 Total revenues 267,567 114,291 381,858 Losses and Expenses: Net losses and loss adjustment expenses 167,725 63,474 231,199 Acquisition costs and other underwriting expenses 101,311 45,470 146,781 Income (loss) from segments $ ( 1,469 ) $ 5,347 $ 3,878 Unallocated Items: Net investment income 39,424 Net realized investment losses ( 2,414 ) Corporate and other operating expenses ( 16,638 ) Interest expense ( 12 ) Income before income taxes 24,238 Income tax expense ( 4,707 ) Net income $ 19,531 Segment assets $ 967,573 $ 684,187 $ 1,651,760 Corporate assets 116,086 Total assets $ 1,767,846

Principles of Consolidation a_3

Principles of Consolidation and Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2024
Organization And Basis Of Presentation [Line Items]
Date of incorporation	Jun. 23, 2020
State of incorporation	DE
Redomestication date	Aug. 28, 2020
Kind of listing	class A common shares

Restructuring - Additional Info

Restructuring - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended		24 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring, description		The Company restructured its insurance operations to strengthen its market presence and enhance its focus on GBLI’s core products. As a result, the Company exited its four brokerage divisions: Professional Liability, Excess Casualty, Environmental, and Middle Market Property. The Company ceased writing new business and non-renewed existing policies for these four divisions. The restructuring plan, which was initiated in the fourth quarter of 2022, was completed in the first quarter of 2023.
Restructuring, initiation date		Dec. 31, 2022
Restructuring, completion date		Mar. 31, 2023
Restructuring cost	$ 0	$ 0	$ 2,000,000	$ 3,400,000	$ 5,400,000
Maximum
Restructuring Cost and Reserve [Line Items]
Liability related restructuring plan			$ 100,000

Schedule of Amortized Cost and

Schedule of Amortized Cost and Estimated Fair Value of Company's Fixed Maturities Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, Amortized Cost	$ 1,404,854	$ 1,322,092
Fixed maturities, Allowance for Expected Credit Losses	0	0
Fixed maturities, Gross Unrealized Gains	3,847	1,580
Fixed maturities, Gross Unrealized losses	(13,472)	(29,879)
Fixed maturities, Estimated Fair Value	1,395,229	1,293,793
U.S. Treasuries
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, Amortized Cost	889,891	497,099
Fixed maturities, Allowance for Expected Credit Losses	0	0
Fixed maturities, Gross Unrealized Gains	1,380	515
Fixed maturities, Gross Unrealized losses	(683)	(3,391)
Fixed maturities, Estimated Fair Value	890,588	494,223
Obligations of States and Political Subdivisions
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, Amortized Cost	17,807	27,326
Fixed maturities, Allowance for Expected Credit Losses	0	0
Fixed maturities, Gross Unrealized Gains	0	0
Fixed maturities, Gross Unrealized losses	(634)	(1,176)
Fixed maturities, Estimated Fair Value	17,173	26,150
Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, Amortized Cost	49,317	63,173
Fixed maturities, Allowance for Expected Credit Losses	0	0
Fixed maturities, Gross Unrealized Gains	598	229
Fixed maturities, Gross Unrealized losses	(2,438)	(4,475)
Fixed maturities, Estimated Fair Value	47,477	58,927
Asset-backed Securities
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, Amortized Cost	159,166	207,375
Fixed maturities, Allowance for Expected Credit Losses	0	0
Fixed maturities, Gross Unrealized Gains	1,312	668
Fixed maturities, Gross Unrealized losses	(2,810)	(5,091)
Fixed maturities, Estimated Fair Value	157,668	202,952
Commercial Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, Amortized Cost	76,675	84,062
Fixed maturities, Allowance for Expected Credit Losses	0	0
Fixed maturities, Gross Unrealized Gains	77	12
Fixed maturities, Gross Unrealized losses	(2,526)	(4,994)
Fixed maturities, Estimated Fair Value	74,226	79,080
Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, Amortized Cost	149,857	298,526
Fixed maturities, Allowance for Expected Credit Losses	0	0
Fixed maturities, Gross Unrealized Gains	317	116
Fixed maturities, Gross Unrealized losses	(2,777)	(6,929)
Fixed maturities, Estimated Fair Value	147,397	291,713
Foreign Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, Amortized Cost	62,141	144,531
Fixed maturities, Allowance for Expected Credit Losses	0	0
Fixed maturities, Gross Unrealized Gains	163	40
Fixed maturities, Gross Unrealized losses	(1,604)	(3,823)
Fixed maturities, Estimated Fair Value	$ 60,700	$ 140,748

Investments - Additional Inform

Investments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2024 USD ($) Entity ParntershipInvestments	Dec. 31, 2023 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Investments in a single issuer as a percentage of shareholders' equity	1.70%	2.10%
Number of limited partnership investments | ParntershipInvestments	3
Fixed maturity securities with market value	$ 0	$ 0
Investments in insurance enhanced bonds	$ 1,700,000
Insurance enhanced bonds as a percentage of total cash and invested assets	0.10%
Investments in collateralized mortgage obligations, commercial mortgage-backed securities and taxable municipal bonds	$ 1,700,000
Equity securities, at fair value	12,347,000	16,508,000
Future Funding Commitments	14,214,000	14,214,000
Limited partnership investments with carrying value of fair value	$ 29,500,000	38,200,000
Variable Interest Entity, Not Primary Beneficiary
Schedule Of Available For Sale Securities [Line Items]
Number of VIE's | Entity	2
Ownership interest exceeds respective investments	3%
One of the Company's variable interest VIE's, invests in distressed securities and assets
Schedule Of Available For Sale Securities [Line Items]
Significant variable interest in carrying value of the non-consolidated VIE	$ 3,400,000	4,000,000
Future Funding Commitments	14,200,000	14,200,000
Variable interest entities, maximum exposure to loss	17,600,000	18,300,000
Second VIE that invests in REIT qualifying assets
Schedule Of Available For Sale Securities [Line Items]
Significant variable interest in carrying value of the non-consolidated VIE	8,600,000	8,200,000
Variable interest entities, maximum exposure to loss	8,600,000	8,200,000
Assured Guaranty Corporation
Schedule Of Available For Sale Securities [Line Items]
Investments in collateralized mortgage obligations, commercial mortgage-backed securities and taxable municipal bonds	800,000
Ambac Financial Group
Schedule Of Available For Sale Securities [Line Items]
Investments in collateralized mortgage obligations, commercial mortgage-backed securities and taxable municipal bonds	900,000
Other Assets
Schedule Of Available For Sale Securities [Line Items]
Accrued interest receivable related to fixed maturities	3,500,000	7,500,000
Preferred Stock
Schedule Of Available For Sale Securities [Line Items]
Equity securities, at fair value	12,300,000	$ 16,500,000
U.S. Treasuries
Schedule Of Available For Sale Securities [Line Items]
Gross unrealized losses	683,000
Obligations of States and Political Subdivisions
Schedule Of Available For Sale Securities [Line Items]
Gross unrealized losses	634,000
Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Gross unrealized losses	2,438,000
Asset-backed Securities
Schedule Of Available For Sale Securities [Line Items]
Gross unrealized losses	$ 2,810,000
Weighted average credit enhancement	38%
Commercial Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Gross unrealized losses	$ 2,526,000
Weighted average credit enhancement	44%
Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Gross unrealized losses	$ 2,777,000
Foreign Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Gross unrealized losses	$ 1,604,000

Summary of Amortized Cost and E

Summary of Amortized Cost and Estimated Fair Value Through Fixed Maturities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Due in one year or less, Amortized Cost	$ 945,787
Due in one year through five years, Amortized Cost	153,185
Due in five years through ten years, Amortized Cost	10,807
Due after ten years, Amortized Cost	9,917
Fixed maturities, Amortized Cost	1,404,854	$ 1,322,092
Due in one year or less, Estimated Fair value	946,078
Due in one year through five years, Estimated Fair value	150,427
Due in five years through ten years, Estimated Fair value	10,090
Due after ten years, Estimated Fair value	9,263
Fixed Maturities, estimated fair value	1,395,229	1,293,793
Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	49,317
Fixed maturities, Amortized Cost	49,317	63,173
Estimated Fair value	47,477
Fixed Maturities, estimated fair value	47,477	58,927
Asset-backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	159,166
Fixed maturities, Amortized Cost	159,166	207,375
Estimated Fair value	157,668
Fixed Maturities, estimated fair value	157,668	202,952
Commercial Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	76,675
Fixed maturities, Amortized Cost	76,675	84,062
Estimated Fair value	74,226
Fixed Maturities, estimated fair value	$ 74,226	$ 79,080

Summary of Securities with Gros

Summary of Securities with Gross Unrealized Losses (Detail) - Fixed Income Securities - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Fair Value	$ 35,766	$ 148,474
Less than 12 months, Gross Unrealized Losses	(198)	(1,496)
12 months or longer, Fair Value	386,934	834,118
12 months or longer, Gross Unrealized Losses	(13,274)	(28,383)
Total, Fair Value	422,700	982,592
Total, Gross Unrealized Losses	(13,472)	(29,879)
U.S. Treasuries
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Fair Value	18,829	55,447
Less than 12 months, Gross Unrealized Losses	(4)	(342)
12 months or longer, Fair Value	67,499	239,254
12 months or longer, Gross Unrealized Losses	(679)	(3,049)
Total, Fair Value	86,328	294,701
Total, Gross Unrealized Losses	(683)	(3,391)
Obligations of States and Political Subdivisions
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Fair Value	0	0
Less than 12 months, Gross Unrealized Losses	0	0
12 months or longer, Fair Value	17,173	26,150
12 months or longer, Gross Unrealized Losses	(634)	(1,176)
Total, Fair Value	17,173	26,150
Total, Gross Unrealized Losses	(634)	(1,176)
Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Fair Value	6,235	12,432
Less than 12 months, Gross Unrealized Losses	(127)	(406)
12 months or longer, Fair Value	24,167	39,734
12 months or longer, Gross Unrealized Losses	(2,311)	(4,069)
Total, Fair Value	30,402	52,166
Total, Gross Unrealized Losses	(2,438)	(4,475)
Asset-backed Securities
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Fair Value	4,130	38,828
Less than 12 months, Gross Unrealized Losses	(49)	(469)
12 months or longer, Fair Value	56,171	108,947
12 months or longer, Gross Unrealized Losses	(2,761)	(4,622)
Total, Fair Value	60,301	147,775
Total, Gross Unrealized Losses	(2,810)	(5,091)
Commercial Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Fair Value	9	13
Less than 12 months, Gross Unrealized Losses	0	(2)
12 months or longer, Fair Value	65,051	76,467
12 months or longer, Gross Unrealized Losses	(2,526)	(4,992)
Total, Fair Value	65,060	76,480
Total, Gross Unrealized Losses	(2,526)	(4,994)
Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Fair Value	6,043	34,658
Less than 12 months, Gross Unrealized Losses	(11)	(264)
12 months or longer, Fair Value	106,762	231,816
12 months or longer, Gross Unrealized Losses	(2,766)	(6,665)
Total, Fair Value	112,805	266,474
Total, Gross Unrealized Losses	(2,777)	(6,929)
Foreign Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Fair Value	520	7,096
Less than 12 months, Gross Unrealized Losses	(7)	(13)
12 months or longer, Fair Value	50,111	111,750
12 months or longer, Gross Unrealized Losses	(1,597)	(3,810)
Total, Fair Value	50,631	118,846
Total, Gross Unrealized Losses	$ (1,604)	$ (3,823)

Schedule of Accumulated Other C

Schedule of Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Fixed maturities	$ (9,625)		$ (28,299)
Foreign currency fluctuations	(140)		(187)
Deferred taxes	1,918		5,623
Accumulated other comprehensive income (loss), net of tax	$ (7,847)	$ (18,051)	$ (22,863)	$ (38,117)	$ (37,171)	$ (43,058)

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, net of tax	$ (18,051)	$ (37,171)	$ (22,863)	$ (43,058)
Other comprehensive income (loss) before reclassification, before tax	11,986	(1,372)	17,888	4,797
Amounts reclassified from accumulated other comprehensive income, before tax	801	118	833	1,311
Other comprehensive income (loss), before tax	12,787	(1,254)	18,721	6,108
Income tax benefit (expense)	(2,583)	308	(3,705)	(1,167)
Ending balance, net of tax	(7,847)	(38,117)	(7,847)	(38,117)
Unrealized Gains and Losses on Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, net of tax	(17,882)	(36,912)	(22,715)	(42,958)
Other comprehensive income (loss) before reclassification, before tax	11,912	(1,191)	17,841	5,179
Amounts reclassified from accumulated other comprehensive income, before tax	801	118	833	1,311
Other comprehensive income (loss), before tax	12,713	(1,073)	18,674	6,490
Income tax benefit (expense)	(2,568)	270	(3,696)	(1,247)
Ending balance, net of tax	(7,737)	(37,715)	(7,737)	(37,715)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, net of tax	(169)	(259)	(148)	(100)
Other comprehensive income (loss) before reclassification, before tax	74	(181)	47	(382)
Amounts reclassified from accumulated other comprehensive income, before tax	0	0	0	0
Other comprehensive income (loss), before tax	74	(181)	47	(382)
Income tax benefit (expense)	(15)	38	(9)	80
Ending balance, net of tax	$ (110)	$ (402)	$ (110)	$ (402)

Reclassifications Out of Accumu

Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	$ 801	$ 118	$ 833	$ 1,311
Income tax expense (benefit)	3,125	1,763	8,605	4,707
Unrealized Gains and Losses on Available for Sale Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	801	118	833	1,311
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, net of tax	633	94	665	1,060
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains and Losses on Available for Sale Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net realized investment (gains) losses	801	118	833	1,311
Income tax expense (benefit)	$ (168)	$ (24)	$ (168)	$ (251)

Components of Net Realized Inve

Components of Net Realized Investment Gains (Losses) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule Of Available For Sale Securities [Line Items]
Total net realized investment gains (losses)	$ (512)	$ (133)	$ 540	$ (2,414)
Equity securities, Gross realized gains	295	163	1,384	726
Equity securities, Gross realized losses	(6)	(178)	(11)	(1,829)
Equity securities, Total net realized investment gains (losses)	289	(15)	1,373	(1,103)
Fixed Income Securities
Schedule Of Available For Sale Securities [Line Items]
Gross realized gains	5	15	54	29
Gross realized losses	(806)	(133)	(887)	(1,340)
Total net realized investment gains (losses)	$ (801)	$ (118)	$ (833)	$ (1,311)

Summary of Calculation of Reali

Summary of Calculation of Realized Gains and Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Equity securities, Total net realized investment gains (losses)	$ 289	$ (15)	$ 1,373	$ (1,103)
Less: net gains (losses) recognized during the period on equity securities sold during the period	(157)	15	(423)	32
Unrealized gains (losses) recognized during the reporting period on equity securities still held	$ 446	$ (30)	$ 1,796	$ (1,135)

Schedule of Proceeds From Sales

Schedule of Proceeds From Sales and Redemptions of Available for Sale Securities (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Fixed maturities	$ 80,236	$ 114,058
Equity securities	$ 0	$ 24

Schedule of Investment Income (

Schedule of Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule Of Available For Sale Securities [Line Items]
Investment income	$ 16,993	$ 14,566	$ 47,839	$ 40,513
Investment expense	(505)	(366)	(1,520)	(1,089)
Net investment income	16,488	14,200	46,319	39,424
Fixed Income Securities
Schedule Of Available For Sale Securities [Line Items]
Investment income	15,457	12,961	43,617	36,734
Equity Securities
Schedule Of Available For Sale Securities [Line Items]
Investment income	181	188	615	635
Cash and Cash Equivalents
Schedule Of Available For Sale Securities [Line Items]
Investment income	800	501	2,121	1,064
Other Invested Assets
Schedule Of Available For Sale Securities [Line Items]
Investment income	$ 555	$ 916	$ 1,486	$ 2,080

Schedule of Total Investment Re

Schedule of Total Investment Return (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Net investment income		$ 16,488	$ 14,200	$ 46,319	$ 39,424
Net realized investment losses (gains)		(512)	(133)	540	(2,414)
Change in unrealized holding gains		12,787	(1,254)	18,721	6,108
Net realized and unrealized investment returns		12,275	(1,387)	19,261	3,694
Total investment return		$ 28,763	$ 12,813	$ 65,580	$ 43,118
Total investment return %	[1]	2%	0.90%	4.60%	3.20%
Average investment portfolio	[2]	$ 1,451,641	$ 1,355,077	$ 1,429,253	$ 1,354,727
[1] Not annualized. Average of total cash and invested assets, net of receivable/payable for securities, as of the beginning and end of the period.

Summary of Estimated Fair Value

Summary of Estimated Fair Values of Bonds Held on Deposit (Detail) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value	[1]	$ 177,506	$ 170,058
On Deposit With Governmental Authorities
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value		19,627	19,262
Held In Trust Pursuant To Third Party Requirements
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value		$ 157,879	$ 150,796
[1] Includes cash and cash equivalents o f $ 3.9 mi llion and $ 9.0 million at September 30, 2024 and December 31, 2023 , respectively, with the remainder related to bonds available for sale.

Summary of Estimated Fair Val_2

Summary of Estimated Fair Values of Bonds Held on Deposit (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Cash and cash equivalents	$ 31,019	$ 38,037
Remainder Related to Bonds Available for Sale
Debt Securities, Available-for-Sale [Line Items]
Cash and cash equivalents	$ 3,900	$ 9,000

Company's Invested Assets Measu

Company's Invested Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	$ 1,395,229	$ 1,293,793
Equity securities	12,347	16,508
U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	890,588	494,223
Obligations of States and Political Subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	17,173	26,150
Mortgage Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	47,477	58,927
Commercial Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	74,226	79,080
Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	157,668	202,952
Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	147,397	291,713
Foreign Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	60,700	140,748
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	1,395,229	1,293,793
Equity securities	12,347	16,508
Total invested assets	1,407,576	1,310,301
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	890,588	494,223
Equity securities	0	0
Total invested assets	890,588	494,223
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	504,641	799,570
Equity securities	12,347	16,508
Total invested assets	516,988	816,078
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Equity securities	0	0
Total invested assets	0	0
Fair Value, Measurements, Recurring | U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	890,588	494,223
Fair Value, Measurements, Recurring | U.S. Treasuries | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	890,588	494,223
Fair Value, Measurements, Recurring | U.S. Treasuries | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | U.S. Treasuries | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Obligations of States and Political Subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	17,173	26,150
Fair Value, Measurements, Recurring | Obligations of States and Political Subdivisions | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Obligations of States and Political Subdivisions | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	17,173	26,150
Fair Value, Measurements, Recurring | Obligations of States and Political Subdivisions | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Mortgage Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	47,477	58,927
Fair Value, Measurements, Recurring | Mortgage Backed Securities | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Mortgage Backed Securities | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	47,477	58,927
Fair Value, Measurements, Recurring | Mortgage Backed Securities | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Commercial Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	74,226	79,080
Fair Value, Measurements, Recurring | Commercial Mortgage-Backed Securities | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Commercial Mortgage-Backed Securities | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	74,226	79,080
Fair Value, Measurements, Recurring | Commercial Mortgage-Backed Securities | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	157,668	202,952
Fair Value, Measurements, Recurring | Asset-backed Securities | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Asset-backed Securities | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	157,668	202,952
Fair Value, Measurements, Recurring | Asset-backed Securities | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	147,397	291,713
Fair Value, Measurements, Recurring | Corporate Bonds | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Corporate Bonds | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	147,397	291,713
Fair Value, Measurements, Recurring | Corporate Bonds | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Foreign Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	60,700	140,748
Fair Value, Measurements, Recurring | Foreign Corporate Bonds | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	0	0
Fair Value, Measurements, Recurring | Foreign Corporate Bonds | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	60,700	140,748
Fair Value, Measurements, Recurring | Foreign Corporate Bonds | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	$ 0	$ 0

Changes in Level 3 Investments

Changes in Level 3 Investments Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Beginning balance	$ 0	$ 3,787	$ 0	$ 4,571
Included in accumulated other comprehensive income (loss)	$ 0	$ 3	$ 0	$ 10
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), Net of Tax	Other Comprehensive Income (Loss), Net of Tax	Other Comprehensive Income (Loss), Net of Tax	Other Comprehensive Income (Loss), Net of Tax
Included in earnings attributable to realized gains / losses	$ 0	$ 24	$ 0	$ (148)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Realized Investment Gains (Losses)	Realized Investment Gains (Losses)	Realized Investment Gains (Losses)	Realized Investment Gains (Losses)
Amortization of bond premium and discount, net	$ 0	$ 1	$ 0	$ 5
Purchases	0	182	0	295
Sales	0	(428)	0	(1,164)
Ending balance	0	3,569	0	3,569
Gains (losses) included in earnings attributable to the change in unrealized gains (losses) related to assets still held at end of reporting period	$ 0	$ 31	$ 0	$ (131)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Equity Method Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity in the earnings of liability companies or partnerships	$ (0.2)	$ 0.1	$ 0.4	$ 0.8
Ownership interest exceeds respective investments	3%		3%
Variable Interest Entity, Not Primary Beneficiary
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership interest exceeds respective investments	3%		3%

Fair Value and Future Funding C

Fair Value and Future Funding Commitments Related to These Investments (Detail) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		$ 29,459	$ 38,236
Future Funding Commitments		14,214	14,214
European Non-Performing Loan Fund, LP | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	[1]	3,406	4,048
Future Funding Commitments	[1]	14,214	14,214
Mortgage Debt Fund, LP | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	[2]	8,588	8,172
Future Funding Commitments	[2]	0	0
Global Debt Fund, LP | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	[3]	17,465	26,016
Future Funding Commitments	[3]	$ 0	$ 0
[1] This limited partnership invests in distressed securities and assets through senior and subordinated, secured and unsecured debt and equity, in both public and private large-cap and middle-market companies. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. As of September 30, 2024 , the Company has funded $ 35.8 million of this commitment leaving $ 14.2 million as unfunded. Since the investment period has concluded, the Company does not expect any capital calls will be made prospectively. This limited partnership invests in REIT qualifying assets such as mortgage loans, investor property loans, and commercial mortgage loans. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. This limited partnership invests in performing, stressed or distressed securities and loans across the global fixed income markets. The Company does have the contractual option to withdraw all or a portion of its limited partnership interest by providing notice to the fund. On July 31, 2023, the Company provided the Global Debt Fund, LP with a formal withdrawal request to fully redeem the partnership interest. Partial redemption proceeds of $ 8.7 m illion were received during the nine months ended September 30, 2024 .

Fair Value and Future Funding_2

Fair Value and Future Funding Commitments Related to These Investments (Parenthetical) (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Future Funding Commitments	$ 14,214	$ 14,214
Global Debt Fund, LP
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from partial redemption of partnership interest	8,700
European Non-Performing Loan Fund, LP
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Funded commitment amount	35,800
Unfunded Commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Future Funding Commitments	14,200
Unfunded Commitments | European Non-Performing Loan Fund, LP
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Future Funding Commitments	$ 14,200

Allowance for Expected Credit_3

Allowance for Expected Credit Losses - Premium Receivables and Reinsurance Receivables - Schedule of Allowance for Credit Losses Related to Premium Receivables (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Premium Receivables
Beginning balance	$ 4,043	$ 4,056	$ 4,796	$ 3,322
Current period provision for expected credit losses	(522)	428	(695)	2,145
Write-offs	(35)	(364)	(615)	(1,347)
Ending balance	$ 3,486	$ 4,120	$ 3,486	$ 4,120

Allowance for Expected Credit_4

Allowance for Expected Credit Losses - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Allowance for Credit Loss [Abstract]
Allowance for expected credit losses on reinsurance receivables	$ 8,992	$ 8,992

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Income Tax [Line Items]
Net operating loss carryforwards	$ 51.5	$ 78.8
UNITED STATES
Income Tax [Line Items]
Statutory income tax rates	21%
IRELAND | Non Trading Income
Income Tax [Line Items]
Statutory income tax rates	25%
IRELAND | Capital Gain
Income Tax [Line Items]
Statutory income tax rates	33%
IRELAND | Trading Income
Income Tax [Line Items]
Statutory income tax rates	12.50%

Components of Income Tax Expens

Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Current income tax benefit:
U.S. Federal	$ 0	$ (4)	$ 0	$ (4)
Total current income tax benefit	0	(4)	0	(4)
Deferred income tax expense:
U.S. Federal	3,125	1,767	8,605	4,711
Total deferred income tax expense	3,125	1,767	8,605	4,711
Total income tax expense	$ 3,125	$ 1,763	$ 8,605	$ 4,707

Differences in Tax Provision fo

Differences in Tax Provision for Financial Statement Purposes and Expected Tax Provision at Weighted Average Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Expected tax provision at weighted average tax rate	$ 3,336	$ 1,987	$ 8,993	$ 5,090
Adjustments:
Non-deductible executive compensation	105	53	315	158
Dividend exclusion	(16)	(16)	(54)	(54)
Parent income treated as partnership for tax	(324)	(326)	(690)	(668)
Meals & Entertainment	7	68	44	197
Other	17	(3)	(3)	(16)
Total income tax expense	$ 3,125	$ 1,763	$ 8,605	$ 4,707
Expected tax provision at weighted average	21%	21%	21%	21%
Adjustments:
Non-deductible executive compensation, % of Pre-Tax Income	0.70%	0.60%	0.70%	0.70%
Dividend exclusion, % of Pre-Tax Income	(0.10%)	(0.20%)	(0.10%)	(0.20%)
Parent income treated as partnership for tax, % of Pre-Tax Income	(2.00%)	(3.40%)	(1.60%)	(2.80%)
Meals & Entertainment, % of Pre-Tax Income	0%	0.70%	0.10%	0.80%
Other, % of Pre-Tax Income	0.10%	(0.10%)	0%	(0.10%)
Effective income tax expense (benefit)	19.70%	18.60%	20.10%	19.40%

Summarized Activity in Liabilit

Summarized Activity in Liability for Unpaid Losses and Loss Adjustment Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Insurance [Abstract]
Balance at beginning of period	$ 844,206	$ 866,951	$ 850,599	$ 832,404
Less: ceded reinsurance receivables	70,392	73,933	72,829	73,021
Net balance at beginning of period	773,814	793,018	777,770	759,383
Incurred losses and loss adjustment expenses related to:
Current year	52,434	65,167	159,561	231,199
Prior years	(34)	(51)	(115)	0
Total incurred losses and loss adjustment expenses	52,400	65,116	159,446	231,199
Paid losses and loss adjustment expenses related to:
Current year	8,415	20,990	32,501	55,174
Prior years	48,520	50,361	135,436	148,625
Total paid losses and loss adjustment expenses	56,935	71,351	167,937	203,799
Net balance at end of period	769,279	786,783	769,279	786,783
Plus: ceded reinsurance receivables	70,897	75,020	70,897	75,020
Balance at end of period	$ 840,176	$ 861,803	$ 840,176	$ 861,803

Liability for Unpaid Losses a_3

Liability for Unpaid Losses and Loss Adjustment Expenses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	$ (34)	$ (51)	$ (115)	$ 0
Maximum
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	(100)
Non-Core Operations
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		(7,800)	300	(10,900)
Non-Core Operations | Maximum
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	(100)
Non-Core Operations | Property Lines
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		500		1,800
Non-Core Operations | Property Lines | Adverse Development
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		1,400		3,400
Non-Core Operations | Property Lines | Favorable Development
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		(900)		(1,600)
Non-Core Operations | Casualty Lines
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		4,500		6,400
Non-Core Operations | Casualty Lines | Adverse Development
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		7,100		11,200
Non-Core Operations | Casualty Lines | Favorable Development
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		(2,600)		(4,800)
Non-Core Operations | Reinsurance
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		(12,700)		(19,000)
Penn-America Segment
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		7,800	(400)	10,900
Penn-America Segment | Maximum
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	100
Penn-America Segment | Property Lines
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	(3,700)	1,700	(4,000)	800
Penn-America Segment | Casualty Lines
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	$ 3,700	6,100	$ 3,600	10,100
Penn-America Segment | Casualty Lines | Adverse Development
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		11,300		16,900
Penn-America Segment | Casualty Lines | Favorable Development
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		$ (5,200)		$ (6,800)

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail)			3 Months Ended		9 Months Ended
	Sep. 19, 2024 USD ($)	Oct. 21, 2022	Sep. 30, 2024 USD ($) Stockholder $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) Stockholder $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($)
Equity [Line Items]
Stock repurchase program, authorized amount			$ 135,000,000		$ 135,000,000
Stock repurchase program, remaining authorization to repurchase shares			$ 101,000,000		$ 101,000,000
Stock repurchase program, expiration date		Dec. 31, 2027
Dividend payable, per share | $ / shares			$ 0.35	$ 0.25	$ 0.35	$ 0.25
Distribution paid to preferred shareholder			$ 110,000	$ 110,000	$ 330,000	$ 330,000
Accrued distributions			0		$ 0		$ 300,000
Distributions declared	$ 4,800,000
O 2024 Q3 Dividends
Equity [Line Items]
Distribution paid to preferred shareholder			100,000
Approval Date					Sep. 19, 2024
Distributions payment date					Oct. 07, 2024
O 2023 Q3 Dividends
Equity [Line Items]
Distribution paid to preferred shareholder				100,000
Approval Date						Sep. 28, 2023
Distributions payment date						Oct. 16, 2023
O 2024 M9 Dividends [Member]
Equity [Line Items]
Distribution paid to preferred shareholder					$ 300,000
O 2023 M9 Dividends [Member]
Equity [Line Items]
Distribution paid to preferred shareholder						$ 300,000
Maximum
Equity [Line Items]
Accrued preferred distributions			100,000		100,000		$ 100,000
Class A Common Shares
Equity [Line Items]
Stock repurchase program, authorized amount			$ 135,000,000	$ 135,000,000	$ 135,000,000	$ 135,000,000
Shares surrendered, repurchased or redeemed | shares					16,527	468,860
Voting rights					one
Average repurchase cost per share | $ / shares					$ 32	$ 27.04
Number of shareholders | Stockholder			135		135
Class B Common Shares
Equity [Line Items]
Shares surrendered, repurchased or redeemed | shares			0	0	0	0
Voting rights					ten
Class B Common Shares | Fox Paine Entities
Equity [Line Items]
Number of shareholders | Stockholder			2		2
Series A Preferred Interest
Equity [Line Items]
Number of shareholders | Stockholder			1		1

Information with Respect to Cla

Information with Respect to Class A Common Shares that were Surrendered or Repurchased (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Equity, Class of Treasury Stock [Line Items]
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs	$ 101,000,000
Class A Common Shares
Equity, Class of Treasury Stock [Line Items]
Shares repurchased	16,527	468,860
Average Price Paid Per Share	$ 32	$ 27.04
January 1-31, 2023 | Employee | Class A Common Shares
Equity, Class of Treasury Stock [Line Items]
Shares repurchased		3,302
Average Price Paid Per Share		$ 23.31
Total Number of Shares Purchased as Part of Publicly Announced Plan or Program		0
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs		$ 0
January 1-31, 2023 | Share Repurchase Program | Class A Common Shares
Equity, Class of Treasury Stock [Line Items]
Shares repurchased		250,000
Average Price Paid Per Share		$ 25.9
Total Number of Shares Purchased as Part of Publicly Announced Plan or Program		250,000
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs		$ 106,604,000
June 1-30, 2024 | Employee | Class A Common Shares
Equity, Class of Treasury Stock [Line Items]
Shares repurchased	16,527
Average Price Paid Per Share	$ 32
Total Number of Shares Purchased as Part of Publicly Announced Plan or Program	0
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs	$ 101,004,000
April 1-30, 2023 | Share Repurchase Program | Class A Common Shares
Equity, Class of Treasury Stock [Line Items]
Shares repurchased		200,000
Average Price Paid Per Share		$ 28
Total Number of Shares Purchased as Part of Publicly Announced Plan or Program		200,000
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs		$ 101,004,000
June 1-30, 2023 | Employee | Class A Common Shares
Equity, Class of Treasury Stock [Line Items]
Shares repurchased		15,558
Average Price Paid Per Share		$ 33.74
Total Number of Shares Purchased as Part of Publicly Announced Plan or Program		0
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs		$ 101,004,000

Information with Respect to C_2

Information with Respect to Class A Common Shares that were Surrendered or Repurchased (Parenthetical) (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 135,000,000
Class A Common Shares
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 135,000,000	$ 135,000,000

Schedule of Distributions Decla

Schedule of Distributions Declared (Detail) - USD ($) $ in Thousands								9 Months Ended
		Oct. 07, 2024	Jun. 28, 2024	Mar. 28, 2024	Oct. 16, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Dividends Payable [Line Items]
Payment of dividends		$ 4,782	$ 4,774	$ 4,752	$ 3,385	$ 3,375	$ 3,410	$ 14,326	$ 10,150
O 2024 Q1 Dividends
Dividends Payable [Line Items]
Approval Date								Mar. 06, 2024
Record Date								Mar. 21, 2024
Payment Date								Mar. 28, 2024
O 2024 Q2 Dividends
Dividends Payable [Line Items]
Approval Date								Jun. 06, 2024
Record Date								Jun. 21, 2024
Payment Date								Jun. 28, 2024
O 2024 Q3 Dividends
Dividends Payable [Line Items]
Approval Date								Sep. 19, 2024
Record Date								Sep. 30, 2024
Payment Date								Oct. 07, 2024
O 2023 Q1 Dividends
Dividends Payable [Line Items]
Approval Date									Mar. 02, 2023
Record Date									Mar. 24, 2023
Payment Date									Mar. 31, 2023
O 2023 Q2 Dividends
Dividends Payable [Line Items]
Approval Date									Jun. 01, 2023
Record Date									Jun. 23, 2023
Payment Date									Jun. 30, 2023
O 2023 Q3 Dividends
Dividends Payable [Line Items]
Approval Date									Sep. 28, 2023
Record Date									Oct. 09, 2023
Payment Date									Oct. 16, 2023
Unvested Shares, Net of Forfeitures
Dividends Payable [Line Items]
Approval Date	[1]							Various	Various
Record Date	[1]							Various	Various
Payment Date	[1]							Various	Various
Payment of dividends	[1]							$ 18	$ (20)
[1] Represents distributions declared on unvested shares, net of forfeitures.

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fox Paine Entities
Related Party Transaction [Line Items]
Company's total voting power	83.60%		83.60%
Fox Paine and Company
Related Party Transaction [Line Items]
Management fees	$ 0.8	$ 0.8	$ 2.4	$ 2.3
Prepaid management fees	3		3		$ 2.1
Greenberg Traurig, LLP
Related Party Transaction [Line Items]
Legal fees			$ 0.2
Board member start date			Dec. 05, 2023
Greenberg Traurig, LLP | Maximum
Related Party Transaction [Line Items]
Legal fees	$ 0.1

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2014
Commitments and Contingencies [Line Items]
Commitment to purchase alternative investment			$ 50,000
Future Funding Commitments	$ 14,214	$ 14,214
European Non-Performing Loan Fund, LP
Commitments and Contingencies [Line Items]
Funded commitment amount	35,800
Unfunded Commitments
Commitments and Contingencies [Line Items]
Future Funding Commitments	14,200
Unfunded Commitments | European Non-Performing Loan Fund, LP
Commitments and Contingencies [Line Items]
Future Funding Commitments	$ 14,200

Share-Based Compensation Plans

Share-Based Compensation Plans - Additional Information (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Time-Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted			550,000
Stock options vested			200,000
Stock options expected to vest	350,000		350,000
Vesting description			Of this amount, 200,000 Time-Based Stock Options will vest in four equal tranches of 25% on the first business day of each quarter in 2024. The remaining 350,000 Time-Based Stock Options will vest one-third on each of March 6, 2025, March 6, 2026, and March 6, 2027.
Strike price	$ 30.73		$ 30.73
Time-Based Stock Options | Share-based Compensation Award, Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vested on each anniversary of the grant date			25%
Time-Based Stock Options | Share-based Compensation Award, Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting description			one-third
Vesting date			Mar. 06, 2025
Time-Based Stock Options | Share-based Compensation Award, Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting description			one-third
Vesting date			Mar. 06, 2026
Time-Based Stock Options | Share-based Compensation Award, Tranche 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting description			one-third
Vesting date			Mar. 06, 2027
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	0	0		0
Unvested stock options forfeited	0	0	0	0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares forfeited	0	0	0	0
Restricted Stock | Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	0	0	0	0
Restricted Stock | Non Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	23,556	19,887	74,146	68,592
Weighted average grant date value of shares granted	$ 31.16	$ 33.83	$ 30.74	$ 29.43
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares forfeited	0	4,282	0	4,282
Shares vested	0	0	65,182	61,652
Restricted Stock Units | Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	0	0	0	0

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income	$ 12,760	$ 7,700	$ 34,219	$ 19,531
Less: preferred stock distributions	110	110	330	330
Net income available to common shareholders	$ 12,650	$ 7,590	$ 33,889	$ 19,201
Denominator:
Weighted average shares for basic earnings per share	13,664,542	13,522,874	13,617,960	13,556,665
Weighted average shares for diluted earnings per share	13,800,877	13,814,445	13,684,018	13,798,876
Basic	$ 0.93	$ 0.56	$ 2.49	$ 1.42
Diluted	$ 0.92	$ 0.55	$ 2.48	$ 1.39
Restricted Stock Units
Denominator:
Non-vested restricted stock, units and options	0	65,609	0	57,721
Stock Options
Denominator:
Non-vested restricted stock, units and options	136,335	225,962	66,058	184,490

Earning Per Share - Additional

Earning Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculation of diluted earnings per share	550,000	300,000	550,000	346,667

Segment Information - Additiona

Segment Information - Additional Information (Detail)	15 Months Ended
	Dec. 31, 2023 Segment
Segment Reporting [Abstract]
Number of ongoing business segments	2

Summary of Business Segment Inf

Summary of Business Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenues:
Gross written premiums	$ 99,767	$ 98,926	$ 293,961	$ 332,011
Net written premiums	97,177	95,623	287,013	317,480
Net earned premiums	95,413	111,695	284,806	380,923
Other income	372	299	1,074	935
Total revenues	95,785	111,994	285,880	381,858
Losses and Expenses:
Net losses and loss adjustment expenses	52,400	65,116	159,446	231,199
Acquisition costs and other underwriting expenses	37,553	46,202	111,790	146,781
Income (loss) from segments	5,832	676	14,644	3,878
Unallocated Items:
Net investment income	16,488	14,200	46,319	39,424
Net realized investment gains (losses)	(512)	(133)	540	(2,414)
Corporate and other operating expenses	(5,923)	(5,280)	(18,662)	(16,638)
Interest expense	0	0	(17)	(12)
Income before income taxes	15,885	9,463	42,824	24,238
Income tax expense (benefit)	(3,125)	(1,763)	(8,605)	(4,707)
Net income (loss)	12,760	7,700	34,219	19,531
Total assets	1,761,117	1,767,846	1,761,117	1,767,846	$ 1,729,576
Segment Assets
Unallocated Items:
Total assets	1,607,153	1,651,760	1,607,153	1,651,760
Corporate Assets
Unallocated Items:
Total assets	153,964	116,086	153,964	116,086
Penn-America
Revenues:
Gross written premiums	103,244	87,004	297,844	277,443
Net written premiums	100,712	84,096	290,910	266,837
Net earned premiums	93,982	83,462	272,467	266,759
Other income	337	275	1,020	808
Total revenues	94,319	83,737	273,487	267,567
Losses and Expenses:
Net losses and loss adjustment expenses	51,382	56,020	151,417	167,725
Acquisition costs and other underwriting expenses	35,629	32,210	104,454	101,311
Income (loss) from segments	7,308	(4,493)	17,616	(1,469)
Penn-America | Segment Assets
Unallocated Items:
Total assets	1,044,750	967,573	1,044,750	967,573
Non-Core Operations
Revenues:
Gross written premiums	(3,477)	11,922	(3,883)	54,568
Net written premiums	(3,535)	11,527	(3,897)	50,643
Net earned premiums	1,431	28,233	12,339	114,164
Other income	35	24	54	127
Total revenues	1,466	28,257	12,393	114,291
Losses and Expenses:
Net losses and loss adjustment expenses	1,018	9,096	8,029	63,474
Acquisition costs and other underwriting expenses	1,924	13,992	7,336	45,470
Income (loss) from segments	(1,476)	5,169	(2,972)	5,347
Non-Core Operations | Segment Assets
Unallocated Items:
Total assets	$ 562,403	$ 684,187	$ 562,403	$ 684,187