Palomar (PLMR) 10-K 23 Feb 24 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 20, 2024	Jun. 30, 2023
Document Information [Line Items]
Entity Central Index Key	0001761312
Entity Registrant Name	Palomar Holdings, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-38873
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-3972551
Entity Address, Address Line One	7979 Ivanhoe Avenue, Suite 500
Entity Address, City or Town	La Jolla
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92037
City Area Code	619
Local Phone Number	567-5290
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	PLMR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1,408,096,601
Entity Common Stock, Shares Outstanding		24,868,900
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	San Francisco, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost: $675,130 in 2023; $561,580 in 2022)	$ 643,799	$ 515,064
Equity securities, at fair value (cost: $43,003 in 2023; $42,352 in 2022)	43,160	38,576
Equity method investment	2,617	0
Total investments	689,576	553,640
Cash and cash equivalents	51,546	68,108
Restricted cash	306	56
Accrued investment income	5,282	3,777
Premium receivable	261,972	162,858
Deferred policy acquisition costs, net of ceding commissions and fronting fees	60,990	56,740
Reinsurance recoverable on paid losses and loss adjustment expenses	32,172	39,718
Reinsurance recoverable on unpaid losses and loss adjustment expenses	244,622	153,895
Ceded unearned premiums	265,808	204,084
Prepaid expenses and other assets	72,941	44,088
Deferred tax assets, net	10,119	10,622
Property and equipment, net	373	603
Goodwill and intangible assets, net	12,315	8,261
Total assets	1,708,022	1,306,450
Liabilities:
Accounts payable and other liabilities	42,376	25,760
Reserve for losses and loss adjustment expenses	342,275	231,415
Unearned premiums	597,103	471,314
Ceded premium payable	181,742	146,127
Funds held under reinsurance treaty	13,419	10,680
Income taxes payable	7,255	0
Borrowings from credit agreements	52,600	36,400
Total liabilities	1,236,770	921,696
Stockholders' equity:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized as of December 31, 2023 and December 31, 2022, 0 shares issued and outstanding as of December 31, 2023 and December 31, 2022	0	0
Common stock, $0.0001 par value, 500,000,000 shares authorized, 24,772,987 and 25,027,467 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively	3	3
Additional paid-in capital	350,597	333,558
Accumulated other comprehensive income (loss)	(23,991)	(36,515)
Retained earnings	144,643	87,708
Total stockholders' equity	471,252	384,754
Total liabilities and stockholders' equity	$ 1,708,022	$ 1,306,450

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Available-for-Sale, Amortized Cost	$ 675,130	$ 561,580
Equity Securities, Cost	$ 43,003	$ 42,352
Preferred Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized (in shares)	500,000,000	500,000,000
Common Stock, Shares, Issued (in shares)	24,772,987	25,027,467
Common Stock, Shares, Outstanding (in shares)	24,772,987	25,027,467

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Gross written premiums	$ 1,141,558	$ 881,868	$ 535,175
Ceded written premiums	(731,531)	(524,575)	(223,443)
Net written premiums	410,027	357,293	311,732
Change in unearned premiums	(64,114)	(40,827)	(77,906)
Net earned premiums	345,913	316,466	233,826
Net investment income	23,705	13,877	9,080
Net realized and unrealized gains (losses) on investments	2,941	(7,529)	1,277
Commission and other income	3,367	4,272	3,608
Total revenues	375,926	327,086	247,791
Expenses:
Losses and loss adjustment expenses	72,592	78,672	41,457
Acquisition expenses, net of ceding commissions and fronting fees	107,745	110,771	95,433
Other underwriting expenses	88,172	69,219	53,723
Interest expense	3,775	873	40
Total expenses	272,284	259,535	190,653
Income before income taxes	103,642	67,551	57,138
Income tax expense	24,441	15,381	11,291
Net income	79,201	52,170	45,847
Other comprehensive income, net:
Net unrealized gains (losses) on securities available for sale	12,524	(41,827)	(7,934)
Total comprehensive income	$ 91,725	$ 10,343	$ 37,913
Per Share Data:
Basic earnings per share (in dollars per share)	$ 3.19	$ 2.07	$ 1.8
Diluted earnings per share (in dollars per share)	$ 3.13	$ 2.02	$ 1.76
Weighted-average common shares outstanding:
Basic (in shares)	24,822,004	25,243,397	25,459,514
Diluted (in shares)	25,327,091	25,796,008	26,111,904

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2020	25,525,796
Balance as of January 1 at Dec. 31, 2020	$ 3	$ 310,507	$ 13,246	$ 39,957	$ 363,713
Other comprehensive income (loss), net of tax	0	0	(7,934)	0	(7,934)
Stock-based compensation	$ 0	5,584	0		5,584
Issuance of common stock via employee stock purchase plan (in shares)	9,793
Issuance of common stock via employee stock purchase plan	$ 0	719	0	0	719
Issuance of common stock via equity incentive plan (in shares)	132,436
Issuance of common stock via equity incentive plan	$ 0	2,092	0	0	2,092
Repurchases of common stock (in shares)	(239,096)
Repurchases of common stock	$ 0	0	0	(15,852)	(15,852)
Net income	$ 0	0	0	45,847	45,847
Balance (in shares) at Dec. 31, 2021	25,428,929
Balance at end of period at Dec. 31, 2021	$ 3	318,902	5,312	69,952	394,169
Other comprehensive income (loss), net of tax	0	0	(41,827)	0	(41,827)
Stock-based compensation	$ 0	11,624	0	0	$ 11,624
Issuance of common stock via employee stock purchase plan (in shares)	13,990				13,990
Issuance of common stock via employee stock purchase plan	$ 0	760	0	0	$ 760
Issuance of common stock via equity incentive plan (in shares)	205,963
Issuance of common stock via equity incentive plan	$ 0	2,272	0	0	2,272
Repurchases of common stock (in shares)	(621,415)
Repurchases of common stock	$ 0	0	0	(34,414)	(34,414)
Net income	$ 0	0	0	52,170	52,170
Balance (in shares) at Dec. 31, 2022	25,027,467
Balance at end of period at Dec. 31, 2022	$ 3	333,558	(36,515)	87,708	384,754
Other comprehensive income (loss), net of tax	0	0	12,524	0	12,524
Stock-based compensation	$ 0	14,913	0	0	$ 14,913
Issuance of common stock via employee stock purchase plan (in shares)	17,080				17,080
Issuance of common stock via employee stock purchase plan	$ 0	799	0	0	$ 799
Issuance of common stock via equity incentive plan (in shares)	147,341
Issuance of common stock via equity incentive plan	$ 0	1,237	0	0	1,237
Repurchases of common stock (in shares)	(418,901)
Repurchases of common stock	$ 0	0	0	(22,266)	(22,266)
Net income	0	0	0	79,201	79,201
Policyholder contribution to surplus	$ 0	90	0	0	90
Balance (in shares) at Dec. 31, 2023	24,772,987
Balance at end of period at Dec. 31, 2023	$ 3	$ 350,597	$ (23,991)	$ 144,643	$ 471,252

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Net income	$ 79,201	$ 52,170	$ 45,847
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	14,913	11,624	5,584
Depreciation and amortization expense	4,503	4,115	3,544
Allowance for credit loss on fixed maturity securities	0	236	106
Net realized and unrealized losses (gains) on investments	(2,941)	7,529	(1,277)
Amortization of premium on fixed maturity securities	(9)	1,607	2,317
Deferred income tax expense	(2,826)	(3,519)	641
Changes in operating assets and liabilities:
Accrued investment income	(1,505)	(1,052)	(180)
Premium receivable	(99,114)	(74,846)	(39,170)
Deferred policy acquisition costs	(4,250)	(787)	(20,472)
Reinsurance recoverables	(83,181)	(36,298)	(52,587)
Ceded unearned premiums	(61,724)	(145,768)	(23,284)
Prepaid expenses and other assets	(24,885)	(4,017)	591
Accounts payable and other accrued liabilities	15,666	5,426	(946)
Reserve for losses and loss adjustment expenses	110,860	58,049	44,330
Unearned premiums	125,789	186,649	101,176
Ceded premiums payable	35,615	108,667	15,227
Funds held under reinsurance treaty	2,739	(202)	6,367
Income taxes payable	7,255	0	0
Net cash provided by operating activities	116,106	169,583	87,814
Investing activities
Purchases of property and equipment	(15)	(313)	(18)
Capitalized software costs	(6,744)	(5,623)	(4,836)
Purchases of fixed maturity securities	(233,770)	(382,114)	(166,894)
Purchases of equity securities	(945)	(10,518)	(49,680)
Purchase of equity method investment	(3,000)	0	0
Sales and maturities of fixed maturity securities	120,285	242,726	120,198
Sales of equity securities	295	0	41,553
Change in securities receivable or payable, net	950	(950)	1,500
Acquisitions, net of cash acquired	(5,534)	(15)	(11)
Net cash used in investing activities	(128,478)	(156,807)	(58,188)
Financing activities
Proceeds from line of credit, net of repayments	16,200	36,400	0
Proceeds from common stock issued via employee stock purchase plan	799	760	719
Proceeds from common stock issued via stock option exercises	1,237	2,272	2,092
Policy holder contribution to surplus	90	0	0
Repurchase of common stock	(22,266)	(34,415)	(15,852)
Net cash (used in) provided by financing activities	(3,940)	5,017	(13,041)
Net (decrease) increase in cash, cash equivalents and restricted cash	(16,312)	17,793	16,585
Cash, cash equivalents and restricted cash at beginning of period	68,164	50,371	33,786
Cash, cash equivalents and restricted cash at end of period	51,852	68,164	50,371
Supplementary cash flow information:
Cash paid for income taxes	21,124	18,890	2,104
Cash paid for interest	3,682	704	$ 0
Cash and cash equivalents	51,546	68,108
Restricted cash	306	56
Cash and cash equivalents and restricted cash	$ 51,852	$ 68,164

Note 1 - Summary of Operations

Note 1 - Summary of Operations and Basis of Presentation	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. Summary of Operations Palomar Holdings, Inc. (the “Company”) is a Delaware incorporated insurance holding company that was founded in 2014. PSIC is a property and casualty insurance company domiciled in the state of Oregon. The Company’s core focus is on the residential and commercial earthquake markets in earthquake-exposed states such as California, Oregon, Washington, and states with exposure to the New Madrid Seismic Zone. The Company also offers products tailored to broader geographic regions and perils, including Fronting, Inland Marine, Hawaii Hurricane, Casualty, and Flood products. PSIC is licensed to underwrite insurance on an admitted basis in 42 states in the United States, as of December 31, 2023 PSRE is a Bermuda captive reinsurance company that has historically been used to reinsure certain premiums on a quota share basis exclusively for PSIC. PESIC is an Arizona domiciled surplus lines insurance company. PESIC is licensed in Arizona to write surplus lines policies across all the Company’s lines of business and was formed and began writing policies in 2020. PGIA is a property and casualty general insurance agency for PSIC, PESIC, and unaffiliated insurance carriers. As a general insurance agency, PGIA assists in developing insurance products, underwriting insurance policies, and receiving and disbursing funds from premium and loss transactions under contracts on behalf of insurance companies. PGIA earns commissions from the product development, marketing, and servicing of the insurance companies’ programs. PGIA also earns fee income from policyholder transactions. PUEO is a Delaware corporation that was formed in 2023 2023 one The Company operates as an insurance holding company system and is subject to the insurance holding company laws of the States of Oregon and Arizona, the states in which PSIC and PESIC are domiciled. The Company is also commercially domiciled in California, making it subject to California insurance holding company laws. These statutes require that each insurance company in the system register with the insurance department of its state of domicile and furnish information concerning the operations of companies within the holding company system that may The Company has a single operating segment, the property and casualty insurance business. The Company's chief operating decision maker ("CODM") is the Chief Executive Officer. While the Company’s CODM reviews the revenue streams attributable to individual products, operations are managed, resources are allocated, and financial performance is evaluated on a consolidated basis. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of the Company and its wholly-owned subsidiaries. The consolidated financial statements also include the accounts of Laulima, as Laulima is a variable interest entity ("VIE") for which the Company is the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. Such estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed herein. All revisions to accounting estimates are recognized in the period in which the estimates are revised. Significant estimates reflected in the Company’s consolidated financial statements include, but are not

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Cash and Cash Equivalents Cash and cash equivalents include time deposits and marketable securities with original maturities of three Restricted Cash Restricted cash includes cash on deposit with reinsurance carriers. Restricted cash also includes cash held in a fiduciary capacity for the benefit of third Investments All of the Company’s investments in fixed maturity securities are classified as available-for-sale and are carried at fair value. Investment income consists primarily of interest and dividends. Interest income is recognized on an accrual basis. Premiums and discounts on mortgage-backed securities and asset-backed securities are amortized or accrued using the prospective method which considers anticipated prepayments at the date of purchase. To the extent that the estimated lives of such securities change as a result of changes in estimated prepayment rates, the adjustments are included in net investment income using the prospective method. Dividend income is recognized on the ex-dividend date. Net investment income represents investment income, net of expenses. Unrealized gains and losses related to fixed maturity securities are included in accumulated other comprehensive income as a separate component of stockholders’ equity. Equity securities are carried at fair value with unrealized gains and losses included as a component of net income on the Company’s consolidated statement of income and comprehensive income. The Company uses the specific-identification method to determine the cost of fixed maturity securities sold and the first first one The Company reviews all securities with unrealized losses on a quarterly basis to assess whether the decline in the securities fair value necessitates the recognition of an allowance for credit losses. Factors considered in the review include the extent to which the fair value has been less than amortized cost, and current market interest rates and whether the unrealized loss is credit-driven or a result of changes in market interest rates. The Company also considers factors specific to the issuer including the general financial condition of the issuer, the issuers industry and future business prospects, any past failure of issuer to make scheduled interest or principal payments, and the payment structure of the investment and the issuers ability to make contractual payments on the investment. The Company also considers whether it intends to sell the security or if it is more likely than not not For fixed-maturity securities where a decline in fair value is below the amortized cost basis and the Company intends to sell the security, or it is more likely than not The Company reports accrued interest receivable as a component of accrued investment income on its consolidated balance sheet which is presented separately from available-for-sale securities. The Company does not The Company’s allowance for credit losses related to its available-for-sale securities was immaterial as of December 31, 2023 December 31, 2022 Fair Value Fair value is defined as the price that the Company would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. The three three Level 1—Unadjusted Level 2—Pricing Level 3—Pricing To measure fair value, the Company obtains quoted market prices for its investment securities from its outside investment managers. If a quoted market price is not The fair value of the Company’s investments in fixed maturity securities is estimated using relevant inputs, including available market information, benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. An Option Adjusted Spread model is also used to develop prepayment and interest rate scenarios. Industry standard models are used to analyze and value securities with embedded options or prepayment sensitivities. These fair value measurements are estimated based on observable, objectively verifiable market information rather than market quotes; therefore, these investments are classified and disclosed in Level 2 The fair value of the Company’s investments in equity securities is based on quoted prices available in active markets and classified and disclosed in Level 1 Variable Interest Entities ("VIE") A VIE is a legal entity that does not not 1 2 Concentration of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, fixed maturity securities and reinsurance recoverables. The Company places its cash and cash equivalents with high credit quality financial institutions and its fixed maturity securities in securities of the U.S. government, U.S. government agencies, and high credit quality issuers of debt securities. The Company evaluates the financial condition of its reinsurers and reinsures its business with highly rated reinsurers and sometimes requires letters of credit or retains funds from reinsurers (see Note 10 Premiums Receivable Premiums receivable represent amounts due from policyholders, insurance agents, or program administrators for policies written. Generally, premiums are collected prior to providing risk coverage, minimizing the Company’s exposure to credit risk. Premiums receivable are short-term in nature and due within a year. The Company has established an allowance for uncollectible premiums related to its credit risk, which it reviews on a quarterly basis and adjusts as appropriate. The company considers the current economic environment, specific regulatory developments, and historic payment and cancelation trends by line of business and location when determining whether to record an allowance for uncollectible premiums. The Company recorded an immaterial allowance for uncollectible premiums as of December 31, 2023 December 31, 2022 Earned Premiums Gross premiums written are recorded at policy inception and are earned as revenue ratably over the term of the respective policies. Premiums written not not A premium deficiency is recognized if the sum of expected losses and loss adjustment expenses, unamortized acquisition costs, and policy maintenance costs exceeds the remaining unearned premiums. A premium deficiency would first not December 31, 2023 2022 Deferred Policy Acquisition Costs The costs of successfully acquiring new business, principally commission expense and premium taxes, are deferred and amortized over the terms of the policies in force, net of any ceding commissions or fronting fees and are shown as acquisition expenses in the accompanying consolidated statements of income and comprehensive income. Commission and Other Income Commission and other income is comprised of commissions earned on policies where the Company has no Property and Equipment Property and equipment are capitalized and carried at cost less accumulated depreciation. Depreciation for property and equipment is calculated on a straight-line basis using useful lives of 3 to 5 years. Leasehold improvements and other fixed assets are capitalized and depreciated over the useful lives of the properties and equipment. Expenditure for maintenance and repairs are charged to operations as incurred. Upon disposition, the asset cost and related depreciation are removed from the accounts and the resulting gain or loss is included in the Company’s results of operations. Capitalized Software Costs associated with the implementation of certain internal systems are capitalized and carried at capitalized cost less accumulated amortization and are included as a component of prepaid expenses and other assets on the Company’s consolidated balance sheet. Costs capitalized include internal personnel costs, external developer costs, and interest. The implementation costs relate to systems built on software which the Company purchases under a cloud computing arrangement and accounts for as a service contract. As such, capitalized costs are amortized over the term of the service contract. Intangible Assets and Goodwill Intangible assets consist of both finite and indefinite lived assets. Finite lived intangible assets consist of customer relationships acquired from another insurer during 2020 2023. December 31, 2023 2022 2021 Impairment of Long-Lived Assets Long-lived assets with finite lives are tested for impairment whenever recognized events or changes in circumstances indicate the carrying value of these assets may not not not December 31, 2023 2022 2021 Reserve for Losses and Loss Adjustment Expenses The reserve for unpaid losses and loss adjustment expenses includes estimates for unpaid claims and claim adjustment expenses on reported losses and estimates of losses incurred but not The Company’s estimates of ultimate losses and loss adjustment expenses are based in part upon the estimation of claims resulting from natural disasters such as hurricanes and earthquakes. Estimation by management of the ultimate losses and loss adjustment expenses resulting from catastrophic events is inherently difficult because of the potential severity of property catastrophe claims. Therefore, the Company uses both proprietary and commercially available models, as well as historic claims experience, for purposes of providing an estimate of ultimate losses and loss adjustment expenses. Reserves for IBNR are established in accordance with industry practice to provide for (i) the estimated amount of future loss payments on incurred claims not Ultimate losses and loss adjustment expenses may not Reinsurance The Company purchases excess of loss and quota share reinsurance to protect it against the impact of losses. The Company also writes premiums under fronting agreements where it cedes the majority of premium and risk to reinsurers in exchange for a fronting fee. Reinsurance premiums, commissions, and ceded unearned premiums are accounted for on bases consistent with the underlying terms of the reinsurance contracts and in proportion to the amount of insurance protection provided. The Company receives ceding commissions and fronting fees in connection with quota share and fronting reinsurance contracts. The ceding commissions and fronting fees are capitalized and amortized as a reduction of acquisition expenses. Amounts applicable to ceded unearned premiums are reported as assets in the accompanying consolidated balance sheets. Premiums earned and losses and loss adjustment expenses incurred are stated in the accompanying consolidated statements of income and comprehensive income net of amounts ceded to reinsurers. Reinsurance recoverables represent balances due to the Company from its reinsurers for paid and unpaid losses and loss adjustment expenses. The Company is exposed to credit losses from reinsurers being unable to meet their obligations. The Company evaluates the financial condition of potential reinsurers and reinsures its business with highly rated reinsurers with a rating of “A-“ (Excellent) (Outlook Stable) or better from A.M. Best. Reinsurers who do not 20%. not not December 31, 2023 December 31, 2022 Stock Based Compensation Expense Stock-based compensation expense is recognized on a straight-line basis over the vesting period of awards. The Company does not ​ Income Taxes The Company is taxed as a property/casualty insurer for federal income tax purposes. Deferred income tax assets and liabilities are determined based on the difference between the financial statement and the tax bases of assets and liabilities, using enacted tax rates expected to be in effect during the year in which the basis differences reverse. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company recognizes the tax benefit of uncertain tax positions where the position is more likely than not December 31, 2023 2022 not December 31, 2023 2022 2021 Earnings Per Share Basic earnings per share is calculated by dividing net income by the weighted-average common shares outstanding for the period. Diluted earnings per share reflects the dilution which could occur if equity-based awards are converted into common share equivalents as calculated using the treasury stock method. When inclusion of additional common share equivalents increases the earnings per share or reduces the loss per share, the effect on earnings per share is anti-dilutive, and the diluted net earnings or net loss per share is computed excluding these common share equivalents. Recently adopted accounting pronouncements The Company has not December 31, 2023 ​ Recently issued accounting pronouncements not Segment Reporting In November 2023, No. 2023 07, Segment Reporting (Topic 280 may one 2023 07 December 15, 2023, December 15, 2024. Income Taxes In December 2023, No. 2023 09, Income Taxes (Topic 740 2023 09 2023 09 December 15, 2024.

Note 3 - Investments

Note 3 - Investments	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. The Company’s available-for-sale investments are summarized as follows: December 31, 2023 Amortized Cost or Cost ​Gross Unrealized Gains ​Gross Unrealized Losses Allowance for Credit Losses Fair Value (in thousands) Fixed maturities: ​ ​ ​ ​ ​ U.S. Government $ 40,836 $ — $ (1,416 ) $ — $ 39,420 U.S. States, Territories, and Political Subdivisions 10,641 100 (839 ) — 9,902 Special revenue excluding mortgage/asset-backed securities 32,513 147 (3,149 ) — 29,511 Corporate and other 316,590 1,750 (17,197 ) (904 ) 300,239 Mortgage/asset-backed securities 274,550 1,879 (11,702 ) — 264,727 Total available-for-sale investments $ 675,130 $ 3,876 $ (34,303 ) $ (904 ) $ 643,799 ​ ​ December 31, 2022 Amortized Cost or Cost ​Gross Unrealized Gains ​Gross Unrealized Losses Allowance for Credit Losses Fair Value (in thousands) Fixed maturities: ​ ​ ​ ​ ​ U.S. Government $ 50,802 $ 2 $ (2,253 ) $ — $ 48,551 U.S. States, Territories, and Political Subdivisions 10,776 49 (1,173 ) — 9,652 Special revenue excluding mortgage/asset-backed securities 37,260 26 (4,487 ) — 32,799 Corporate and other 278,164 79 (23,912 ) (236 ) 254,095 Mortgage/asset-backed securities 184,578 251 (14,862 ) — 169,967 Total available-for-sale investments $ 561,580 $ 407 $ (46,687 ) $ (236 ) $ 515,064 ​ Security holdings in an unrealized loss position As of December 31, 2023 December 31, 2022 The aggregate fair value and gross unrealized losses of the Company’s investments aggregated by investment category and the length of time these individual securities have been in a continuous unrealized loss position as of December 31, 2023 2022 ​ Less Than 12 Months More Than 12 Months Total ​ Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2023 Value Losses Value Losses Value Losses (in thousands) Fixed maturity securities: U.S. Government $ 738 $ (1 ) $ 38,063 $ (1,415 ) $ 38,801 $ (1,416 ) U.S. States, Territories, and Political Subdivisions — — 6,196 (839 ) 6,196 (839 ) Special revenue excluding mortgage/asset-backed securities — — 26,736 (3,149 ) 26,736 (3,149 ) Corporate and other 28,872 (480 ) 204,034 (16,717 ) 232,906 (17,197 ) Mortgage/asset-backed securities 29,334 (245 ) 117,016 (11,457 ) 146,350 (11,702 ) Total $ 58,944 $ (726 ) $ 392,045 $ (33,577 ) $ 450,989 $ (34,303 ) ​ ​ ​ Less Than 12 Months More Than 12 Months Total ​ Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2022 Value Losses Value Losses Value Losses ​ (in thousands) Fixed maturity securities: ​ ​ ​ ​ ​ ​ U.S. Government $ 41,077 $ (1,523 ) $ 6,853 $ (730 ) $ 47,930 $ (2,253 ) U.S. States, Territories, and Political Subdivisions 7,525 (1,173 ) — — 7,525 (1,173 ) Special revenue excluding mortgage/asset-backed securities 25,091 (3,287 ) 5,080 (1,200 ) 30,171 (4,487 ) Corporate and other 192,185 (15,667 ) 55,605 (8,481 ) 247,790 (24,148 ) Mortgage/asset-backed securities 118,815 (9,908 ) 32,448 (4,954 ) 151,263 (14,862 ) Total $ 384,693 $ (31,558 ) $ 99,986 $ (15,365 ) $ 484,679 $ (46,923 ) ​ The Company reviewed the above securities at each balance sheet date to consider whether it was necessary to recognize a credit loss related to any of these securities. An allowance for credit losses of $0.9 million and $0.2 million was recorded pertaining to one December 31, 2023 2022 not not not not Contractual maturities of available-for-sale fixed maturity securities The amortized cost and fair value of fixed maturity securities at December 31, 2023 ​ Amortized Fair ​ Cost Value ​ (in thousands) Due within one year $ 46,366 $ 45,221 Due after one year through five years 188,698 180,645 Due after five years through ten years 127,925 118,748 Due after ten years 37,591 34,458 Mortgage and asset-backed securities 274,550 264,727 ​ $ 675,130 $ 643,799 ​ ​ Expected maturities may may Change in unrealized gains (losses) of investments The following table presents the change in available-for-sale gross unrealized gains or losses by investment type: ​ Year Ended December 31, ​ 2023 2022 2021 ​ (in thousands) Change in net unrealized gains (losses) ​ ​ ​ Fixed maturities $ 15,185 $ (53,076 ) $ (10,148 ) Net increase (decrease) $ 15,185 $ (53,076 ) $ (10,148 ) ​ Net investment income summary Net investment income is summarized as follows: ​ Year Ended December 31, ​ 2023 2022 2021 ​ (in thousands) Interest income $ 23,349 $ 13,631 $ 9,119 Dividend income 871 739 461 Investment expense (515 ) (493 ) (500 ) Net investment income $ 23,705 $ 13,877 $ 9,080 ​ ​ Net realized and unrealized investment gains and losses The following table presents net realized and unrealized investment gains and losses: ​ Year Ended ​ December 31, ​ 2023 2022 2021 ​ (in thousands) Realized gains: Gains on sales of fixed maturity securities $ 89 $ 14 $ 466 Gains on sales of equity securities — — 1,416 Total realized gains 89 14 1,882 Realized losses: Losses on sales of fixed maturity securities (32 ) (2,340 ) (1 ) Losses on sales of equity securities — — — Total realized losses (32 ) (2,340 ) (1 ) Net realized investment gains (losses) 57 (2,326 ) 1,881 Change in allowance for credit losses (667 ) — — Net unrealized gains (losses) on equity securities 3,933 (5,203 ) (604 ) Net unrealized losses on equity method investment (382 ) — — Net realized and unrealized gains (losses) on investments $ 2,941 $ (7,529 ) $ 1,277 ​ Proceeds from the sale of fixed maturity securities were $10.1 million, $19.7 million and $17.4 million for the years ended December 31, 2023 2022 2021 The Company places securities on statutory deposit with certain state agencies to retain the right to do business in those states. These securities are included in available-for-sale investments on the consolidated balance sheets. At December 31, 2023 2022

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. The following tables present the Company’s fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 2022 December 31, 2023 Level 1 Level 2 Level 3 Total ​ (in thousands) Assets: ​ ​ ​ ​ Fixed maturity securities ​ ​ ​ ​ U.S. Government $ — $ 39,420 $ — $ 39,420 U.S. States, Territories, and Political Subdivisions — 9,902 — 9,902 Special revenue excluding mortgage/asset-backed securities — 29,511 — 29,511 Corporate and other — 300,239 — 300,239 Mortgage/asset-backed securities — 264,727 — 264,727 Equity securities 43,160 — — 43,160 Cash, cash equivalents, and restricted cash 51,852 — — 51,852 Total assets $ 95,012 $ 643,799 $ — $ 738,811 ​ December 31, 2022 Level 1 Level 2 Level 3 Total ​ (in thousands) Assets: ​ ​ ​ ​ Fixed maturity securities ​ ​ ​ ​ U.S. Government $ — $ 48,551 $ — $ 48,551 U.S. States, Territories, and Political Subdivisions — 9,652 — 9,652 Special revenue excluding mortgage/asset-backed securities — 32,799 — 32,799 Corporate and other — 254,095 — 254,095 Mortgage/asset-backed securities — 169,967 — 169,967 Equity securities 38,576 — — 38,576 Cash, cash equivalents, and restricted cash 68,164 — — 68,164 Total assets $ 106,740 $ 515,064 $ — $ 621,804 ​ The carrying amounts of financial assets and liabilities reported in the accompanying condensed consolidated balance sheet including cash and cash equivalents, restricted cash, receivables, reinsurance recoverable, and accounts payable and other accrued liabilities approximate fair value due to their short term-maturity. The carrying amount of the Company’s borrowings under the Federal Home Loan Bank (“FHLB”) line of credit approximates fair value as the Company is currently borrowing at the overnight rate, which is adjusted daily.

Note 5 - Policy Acquisition Cos

Note 5 - Policy Acquisition Costs	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Deferred Policy Acquisition Costs [Text Block]	5. The following tables present the policy acquisition costs deferred and amortized over the terms of the policies in force: ​ Year ended December 31, ​ 2023 2022 2021 ​ (in thousands) Deferred Policy Acquisition Costs: ​ ​ ​ Balance, beginning of year $ 56,740 $ 55,953 $ 35,481 Additions to deferred balance: ​ ​ ​ Direct commissions 220,822 209,061 133,242 Ceding commissions and fronting fees (123,911 ) (109,302 ) (32,249 ) Premium taxes 13,690 10,166 8,209 Total net additions 110,601 109,925 109,202 Amortization of net policy acquisition costs (106,351 ) (109,138 ) (88,730 ) Balance, end of year $ 60,990 $ 56,740 $ 55,953 Acquisition expenses: Amortization of net policy acquisition costs $ 106,351 $ 109,138 $ 88,730 Period costs 1,394 1,633 6,703 Total Acquisition expenses $ 107,745 $ 110,771 $ 95,433 ​

Note 6 - Intangible Assets and

Note 6 - Intangible Assets and Goodwill	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	6. Intangible assets consist of the following: ​ December 31, ​ 2023 2022 ​ (in thousands) Goodwill: $ 3,755 $ — Indefinite-lived intangibles: State insurance licenses $ 744 $ 744 Finite-lived intangibles: Customer relationships 11,803 10,023 Accumulated amortization on finite-lived intangibles (3,987 ) (2,506 ) Total intangible assets $ 12,315 $ 8,261 ​ State insurance licenses consist of licenses acquired at the inception of PSIC. ​ Customer relationships represents the fair value of acquired policy renewal rights. The Company began amortizing this intangible asset on a straight line basis in 2021 December 31, 2023 December 31, 2022 ​

Note 7 - Capitalized Assets

Note 7 - Capitalized Assets	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	7. Capitalized software is included as a component of prepaid expenses and other assets in the Company’s consolidated balance sheet. The balances are as follows: Accumulated Net December 31, 2023 Cost Amortization Book Value ​ (in thousands) Capitalized Software $ 25,356 $ (9,079 ) $ 16,277 Accumulated Net December 31, 2022 Cost Amortization Book Value ​ (in thousands) Capitalized Software $ 18,622 $ (6,303 ) $ 12,319 ​ ​ Amortization expense relating to capitalized software for the years ended December 31, 2023 2022 2021 ​ Property and Equipment consists of the following: Accumulated Net December 31, 2023 Cost Depreciation Book Value ​ (in thousands) Leasehold improvements $ 879 $ (811 ) $ 68 Computer hardware 418 (272 ) 146 Office equipment and furniture 724 (565 ) 159 Total $ 2,021 $ (1,648 ) $ 373 ​ Accumulated Net December 31, 2022 Cost Depreciation Book Value ​ (in thousands) Leasehold improvements $ 879 $ (694 ) $ 185 Computer hardware 402 (205 ) 197 Office equipment and furniture 724 (503 ) 221 Total $ 2,005 $ (1,402 ) $ 603 ​ ​ Depreciation expense for the years ended December 31, 2023 2022 2021 ​

Note 8 - Leases

Note 8 - Leases	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	8. ​ The Company has operating leases for office space used to conduct its insurance operations and administration activities. Operating lease right-of-use (“ROU”) assets are a component of prepaid expenses and other assets and operating lease liabilities are included in accounts payable and other accrued liabilities in the Company's consolidated balance sheets. ​ The Company determines whether an arrangement is a lease at its inception. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. To determine the present value of lease payments, the Company uses its incremental borrowing rate, which it calculates based on information available at the lease commencement date. For certain leases that contain options to extend, the options are included in lease liabilities only if the company is reasonably certain the option will be exercised. Variable lease costs such as parking are expensed in the period the obligation is incurred and are not not ​ Operating lease costs for the years ended December 31, 2023 2022 2021 ​ The following tables provide supplementary information about the Company’s leases: Year ended December 31, 2023 (in thousands) Operating cash outflows from operating leases $ 1,021 ​ December 31, 2023 ($ in thousands) Operating lease ROU assets $ 934 Operating lease liabilities $ 1,085 Weighted-average remaining lease term on operating leases (years) 2.4 Weighted-average discount rate on operating leases 0.9 % ​ ​ Future minimum lease payments as of December 31, 2023 Years ending December 31, (in thousands) 2024 643 2025 171 2026 177 2027 136 2028 — 2029 — Total future minimum lease payments $ 1,127 Less: imputed interest (42 ) Total operating lease liability $ 1,085 ​ ​

Note 9 - Reserve for Losses and

Note 9 - Reserve for Losses and Loss Adjustment Expenses	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Reserve for Losses and Loss Adjustment Expenses [Text Block]	9. Loss and loss adjustment expenses reserves represent management’s best estimate of the ultimate cost of all reported and unreported losses incurred for the years ended December 31, 2023 2022 2021 not In addition to case reserves, which are generally based on reported claims, the Company establishes reserves for incurred but not not may not The Company regularly reviews its reserve estimates and adjusts them as necessary as experience develops or as new information becomes known. Such adjustments are included in current operations. During the loss settlement period, if there are indications that claims frequency or severity exceeds initial expectations, the Company generally increases its reserves for losses and loss adjustment expenses. Conversely, when claims frequency and severity trends are more favorable than initially anticipated, the Company generally reduces its reserves for losses and loss adjustment expenses once it has sufficient data to confirm the validity of the favorable trends. Even after such adjustments, the ultimate liability may may Although considerable variability is inherent in such estimates, management believes the reserves for losses and loss adjustment expenses are adequate. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes known. Any adjustments to estimates are recorded in the current period. The following table provides a reconciliation of the beginning and ending reserve balances for losses and LAE on a net of reinsurance basis to the gross amounts reported in the accompanying consolidated balance sheets: ​ Year Ended December 31, ​ 2023 2022 2021 ​ (in thousands) Reserve for losses and loss adjustment expense, net of reinsurance recoverables at beginning of period $ 77,520 $ 45,419 $ 34,470 Add: Incurred losses and loss adjustment expenses, net of reinsurance, related to: Current year 70,363 76,289 45,042 Prior years 2,229 2,383 (3,585 ) Total incurred 72,592 78,672 41,457 Deduct: Loss and loss adjustment expense payments, net of reinsurance, related to: Current year 19,631 21,802 12,063 Prior years 32,828 24,769 18,445 Total payments 52,459 46,571 30,508 Reserve for losses and loss adjustment expense net of reinsurance recoverables at end of period 97,653 77,520 45,419 Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period 244,622 153,895 127,947 Reserve for losses and loss adjustment expenses gross of reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period $ 342,275 $ 231,415 $ 173,366 ​ The foregoing reconciliation shows a loss and loss adjustment expense deficiency of $2.2 million and $2.4 million developed in 2023 2022 2021 2023 During 2022, 2020 2021 2021, second 2020. The Company compiles and aggregates its claims data by grouping the claims according to the year in which the claim occurred (“Accident Year”) when analyzing claim payment and emergence patterns and trends over time. For the purpose of defining claims frequency, the number of reported claims is by loss occurrence and includes claims that do not The following tables show information about the Company’s incurred and paid loss development as of December 31, 2023, December 31, 2023. December 31, 2023 Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance Property Insurance (in thousands) ( 1 As of December 31, 2023 Year Ended December 31, Incurred but Not Reported Cumulative Number of Accident Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 Liabilities Claims 2015 $ 2,678 $ 2,504 $ 2,329 $ 2,307 $ 2,320 $ 2,313 $ 2,316 $ 2,304 $ 2,324 $ - $ 566 2016 7,450 7,127 6,972 7,090 7,075 7,062 7,125 5,730 - $ 1,376 2017 12,425 10,893 10,644 10,652 10,561 10,668 12,339 - 3,607 2018 8,163 8,103 7,939 7,950 7,941 8,010 7 1,176 2019 4,575 4,223 3,947 4,293 4,350 3 1,666 2020 61,434 57,248 59,565 56,008 213 4,983 2021 29,836 25,158 25,733 868 5,191 2022 42,887 44,943 6,109 4,062 2023 40,921 17,407 4,130 Total $ 200,358 $ 24,607 $ 26,757 Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance Property Insurance (in thousands) ( 1 ​ ​ Year Ended December 31, Accident Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2015 $ 1,125 $ 1,817 $ 2,109 $ 2,241 $ 2,300 $ 2,309 $ 2,316 $ 2,304 $ 2,324 2016 4,823 6,420 6,801 7,051 7,072 7,062 7,125 5,729 2017 9,102 10,719 10,639 10,640 10,560 10,636 12,339 2018 4,409 7,889 7,931 7,943 7,943 7,999 2019 2,179 3,510 3,757 4,170 4,345 2020 31,862 49,222 55,504 55,619 2021 11,355 22,500 24,408 2022 12,647 30,042 2023 14,226 Total $ 157,031 Reserve for losses and loss adjustment expense, net of reinsurance $ 43,327 ( 1 Data presented for these calendar years is required supplementary information, which is unaudited. Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Property Insurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 (2) Year 9 Payout percentage 52.82 % 32.23 % 6.20 % 3.32 % 1.25 % 0.38 % 5.07 % (12.44 )% 0.88 % ( 2 Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance Other Liability Occurrence (in thousands) ( 1 As of December 31, 2023 Incurred but Not Reported Cumulative Number of Accident Year 2021 2022 2023 Liabilities Claims Prior $ 109 $ 35 $ 46 $ — 6 2021 2,138 1,641 2,172 797 19 2022 7,160 8,755 4,132 52 2023 5,005 4,055 28 Total $ 15,978 $ 8,984 105 Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance Other Liability Occurrence (in thousands) ( 1 Accident Year 2021 2022 2023 Prior $ 109 $ 35 $ 46 2021 141 347 653 2022 746 1,603 2023 372 Total $ 2,674 Reserve for losses and loss adjustment expense, net of reinsurance $ 13,304 ( 1 Data presented for these calendar years is required supplementary information, which is unaudited. Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Other Liability Occurrence (unaudited) Year 1 Year 2 Year 3 Payout percentage 5.61 % 6.43 % 14.09 % Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance Other Liability Claims Made (in thousands) ( 1 As of December 31, 2023 Incurred but Not Reported Cumulative Number of Accident Year 2020 2021 2022 2023 Liabilities Claims Prior $ 48 $ 26 $ 7 $ — $ — 7 2021 3,429 3,299 2,928 2,073 106 2022 8,871 8,873 6,033 424 2023 12,580 9,226 922 Total $ 24,381 $ 17,332 1,459 Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance Other Liability Occurrence (in thousands) ( 1 Accident Year 2020 2021 2022 2023 Prior $ — $ — $ — $ — 2021 62 221 449 2022 481 1,584 2023 1,382 Total $ 3,415 Reserve for losses and loss adjustment expense, net of reinsurance $ 20,966 ( 1 Data presented for these calendar years is required supplementary information, which is unaudited. Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Other Liability Claims Made (unaudited) Year 1 Year 2 Year 3 Payout percentage 4.63 % 5.95 % 7.78 % The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expenses in the consolidated balance sheets is as follows: 2023 (in thousands) Reserve for losses and loss adjustment expense, net of reinsurance recoverables: Property $ 43,326 Other liability occurrence 13,304 Other liability claims made 20,966 Reinsurance - Nonproportional assumed property (1) 8,379 Other 11,678 Total reserve for losses and loss adjustment expense, net of reinsurance recoverables 97,653 Reinsurance recoverable on unpaid claims: Property $ 84,778 Other liability occurrence 6,975 Other liability claims made 71,201 Other 81,668 Total reinsurance recoverable on unpaid claims 244,622 Total reserve for losses and loss adjustment expenses $ 342,275 ( 1 Reflects the Company’s share of Loss and Loss Adjustment Expense related to non-proportional assumed reinsurance business. This amount reflects gross and net reserves related to this treaty and the ultimate incurred amount reflects IBNR only. The Company does not not not

Note 10 - Reinsurance

Note 10 - Reinsurance	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Reinsurance [Text Block]	10. The Company utilizes reinsurance in order to limit its exposure to losses and enable it to underwrite policies with sufficient limits to meet policyholder needs. The Company primarily utilizes excess of loss (XOL) and quota share reinsurance to protect against catastrophe and attritional losses. The Company also writes premiums under fronting agreements, whereby the majority of premium and risk is ceded to reinsurers and the Company receives a fronting fee. In an XOL treaty, the Company retains losses for any occurrence up to a specified amount (its “retention”) and reinsurers assume any losses above that amount. As of December 31, 2023 December 31, 2023 In a quota share agreement, the Company transfers, or cedes, a portion of its premiums to reinsurers and, in return, the reinsurer must share an agreed upon portion of losses and pay a ceding commission to the Company. In a fronting agreement, the Company writes premium and then cedes the majority of the premium and risk in exchange for a fronting fee, which is the primary source of profit in the arrangement. The following table shows ceded written premiums under fronting and quota share arrangements by line of business for the years ended December 31, 2023 2022 2021 Year Ended December 31, 2023 2022 2021 (in thousands) Fronting $ 351,485 $ 237,285 $ 11,001 Inland Marine 88,213 63,627 28,389 Casualty 36,677 23,398 5,138 Commercial Earthquake 29,708 20,467 14,447 Commercial All Risk 7,229 6,260 3,948 Specialty Homeowners (41 ) 4,946 27,394 Others 13,009 9,210 5,684 Total $ 526,280 $ 365,193 $ 96,001 ​ The Company recognizes ceded unearned premiums related to quota share agreements as an asset on its consolidated balance sheets. As of December 31, 2023 2022 In addition to reinsurance purchased from traditional reinsurers, we have historically incorporated collateralized protection from the insurance linked securities market via catastrophe bonds. During the first 2021, 144A June 1, 2021. June 1, 2024. second 2022, 144A June 1, 2022. June 1, 2025. second 2023, 144A June 1, 2023. June 1, 2026. Written premiums ceded under these catastrophe bond agreements were $42.7 million, $28.3 million and $11.7 million for the years ended December 31, 2023 2022 2021 The effect of reinsurance on premiums written and earned and on losses and LAE incurred for the years ended December 31, 2023 2022 2021 2023 2022 2021 Written Earned Written Earned Written Earned (in thousands) Premiums Written and Earned: Direct $ 1,083,804 $ 959,614 $ 816,387 $ 628,973 $ 467,424 $ 384,463 Assumed 57,754 56,107 65,481 66,299 67,751 49,535 Ceded (731,531 ) (669,808 ) (524,575 ) (378,806 ) (223,443 ) (200,172 ) Net $ 410,027 $ 345,913 $ 357,293 $ 316,466 $ 311,732 $ 233,826 2023 Losses LAE Total (in thousands) Losses and LAE Incurred: Direct $ 228,441 $ 60,834 $ 289,275 Assumed 19,799 1,789 21,588 Ceded (186,706 ) (51,565 ) (238,271 ) Net $ 61,534 $ 11,058 $ 72,592 2022 Losses LAE Total (in thousands) Losses and LAE Incurred: Direct $ 133,517 $ 38,004 $ 171,521 Assumed 23,574 5,998 29,572 Ceded (91,261 ) (31,159 ) (122,421 ) Net $ 65,829 $ 12,843 $ 78,672 2021 Losses LAE Total (in thousands) Losses and LAE Incurred: Direct $ 168,292 $ 13,295 $ 181,587 Assumed 17,184 1,926 19,110 Ceded (148,106 ) (11,134 ) (159,240 ) Net $ 37,370 $ 4,087 $ 41,457 The ceding of insurance does not To reduce credit exposure to reinsurance recoverable balances, the Company obtains acceptable forms of collateral from certain reinsurers that are not may December 31, 2023 2022 For the year ended December 31, 2023 December 31, 2022 three December 31, 2021 three At December 31, 2023 three December 31, 2022 three

Note 11 - Credit Agreements

Note 11 - Credit Agreements	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	11. U.S. Bank Credit Agreement ​ In December 2021, December 8, 2026. may may no may ​ The Company’s obligations under the Credit Agreement are unsecured with a negative pledge against all assets of Palomar and its subsidiaries as described in the Credit Agreement. The Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants, including, among other things, financial covenants, restrictions on indebtedness, liens, investments, mergers, dispositions, prepayment of other indebtedness and dividends and other distributions. ​ The financial covenants in the Credit agreement require the Company not December 31, 2023 ​ The Credit Agreement provides for events of default customary for revolving loans of this type, including but not ​ As of December 31, 2023 2022 December 31, 2023 2022 FHLB Line of Credit ​ The Company’s PSIC subsidiary is a member of the Federal Home Loan Bank of San Francisco (“FHLB”). Membership in the FHLB provides PSIC access to collateralized advances, which can be drawn for general corporate purposes and used to enhance liquidity management. All borrowings are fully secured by a pledge of specific investment securities of PSIC and the borrowing capacity is currently equal to 10% of PSIC’s statutory admitted assets. All advances have a predetermined term and the interest rate varies based on the term of the advance. As of December 31, 2023 December 31, 2023 December 31, 2022 December 31, 2022

Note 12 - Stockholders' Equity

Note 12 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Equity [Text Block]	12. Equity As of December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Common stock reserved for future issuance consists of the following as of December 31, 2023 Stock options outstanding under 2019 Equity Incentive Plan 807,685 Restricted stock units outstanding under 2019 Equity Incentive Plan 333,716 Performance stock units outstanding under 2019 Equity Incentive Plan 423,621 Shares authorized for future issuance under 2019 Equity Incentive Plan 3,130,991 Shares authorized for future issuance under 2019 Employee Stock Purchase Plan 1,130,770 Total 5,826,783 ​ The Company does not The below table summarizes the Company’s stock-based compensation expense for each period presented: ​ Year ended December 31, ​ 2023 2022 2021 ​ (in thousands) Stock-Based Compensation Expense $ 14,913 $ 11,624 $ 5,584 ​ Stock-based compensation expense is recognized on a straight-line basis over the vesting period of awards. The Company does not 2019 On April 16, 2019, 2019 “2019 2019 2019 may A total of 2,400,000 shares of common stock were initially authorized and reserved for issuance under the 2019 January 1 2029, December 31, Stock Options Recipients of stock options can purchase shares of the Company’s common stock at a price equal to the stock’s fair market value on the grant date, determined by the closing price of the Company's common stock on the grant date. Stock options vest over a period between two four first ten The following table summarizes stock option transactions for the year ended December 31, 2023 Number of Weighted-average exercise Weighted average remaining contractual term Aggregate intrinsic value shares price (in years) (in thousands) Outstanding at January 1, 2023 882,892 $ 33.85 — $ — Options granted — — Options exercised (61,258 ) 20.21 Options canceled (13,949 ) 67.08 Outstanding at December 31, 2023 807,685 $ 34.31 5.83 $ 21,635 Vested and Exercisable at December 31, 2023 747,105 $ 32.11 5.69 $ 21,414 The total intrinsic value of stock options exercised during the years ended December 31, 2023 December 31, 2022 December 31, 2023 The fair value of each option granted was estimated on the grant date using the Black-Scholes option pricing model with the following assumptions in each year presented: Year ended December 31, 2023 (1 ) 2021 (in thousands) Risk free rate of return (2) — % 1.69% - 4.23% 0.57% - 1.35% Expected share price volatility (3) 0.00 % 39.73% - 43.03% 26.06% - 39.41% Expected life in years (4) — 5.89 5.89 Dividend yield (5) 0 % 0 % 0 % ( 1 There were no December 31, 2023. ( 2 Determined based on the U.S. Treasury yield in effect at the time of the grant for zero ( 3 Determined based on a blend of the Company’s historic stock price volatility and the historic volatility of a peer group of publicly traded companies. ( 4 Determined using the “simplified method” for estimating the expected option life, which is the average of the weighted-average vesting period and contractual term of the option as the Company does not ( 5 Determined to be zero not ​ Restricted Stock Units Restricted stock units are valued on their grant date and generally vest either on the first three one third The following table summarizes RSU transactions for the year ended December 31, 2023 Number of shares Weighted-average grant date fair value Non vested outstanding at January 1, 2023 271,951 $ 68.90 Granted 170,140 51.55 Vested (86,083 ) 69.43 Forfeited (22,292 ) 52.56 Non vested outstanding at December 31, 2023 333,716 $ 61.01 As of December 31, 2023 Performance Stock Units ( PSUs ) ​ The Company issues PSUs to employees with a combination of service, performance, and market conditions. ​ The majority of PSUs were issued via grants made to certain executives during 2021. five December 31, 2023 For other PSUs outstanding, vesting of PSUs requires a period of future service and the number of shares that vest depends on performance relative to predetermined targets of the Company’s Gross Written Premiums and Adjusted Return on Equity as set by the Compensation Committee. For PSU grants issued in years prior to 2023, 2023, three three The following table summarizes PSU transactions for the year ended December 31, 2023 Number of shares Weighted-average grant date fair value Non vested outstanding at January 1, 2023 383,103 $ 37.62 Granted 46,029 51.36 Vested — — Forfeited (5,511 ) 54.33 Non vested outstanding at December 31, 2023 423,621 $ 38.90 The PSU grants above represent the number of shares that would vest based on achievement of all stock price milestones in the executive stock grants and the 100% achievement of the predetermined company performance conditions for the other PSU grants. The actual number of PSUs which will vest is subject to adjustment based on the Company’s actual stock price performance and financial performance relative to the predetermined targets and subject to recipient service requirements. As of December 31, 2023 2021 ​ During the year ended December 31, 2021, five one fifth second third ​ The PSUs are earned based on the achievement of stock price milestones. If the Company’s stock price reaches and remains at certain milestones for 30 December 31, 2025, fifth December 31, 2026 December 31, 2023 ​ The RSUs were valued based on the closing price of the Company’s stock on the grant date. The PSUs were valued using a Monte Carlo simulation to account for the market condition within the award. The Company expects to recognize $14.6 million of expense relating to the RSUs and $12.4 million relating to the PSUs. The expense shall be recognized straight-line over the requisite service period of approximately five ​ 2019 On April 16, 2019, 2019 2019 2019 2019 January 1 2029, may Under the 2019 2019 December 31, 2023 December 31, 2022 Share repurchases ​ In January 2022, March 31, 2024. The Company purchased 418,901 shares for $22.3 million at an average price of $54.4 under this program during the year ended December 31, 2023

Note 13 - Accumulated Other Com

Note 13 - Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	13. Changes in accumulated other comprehensive income (loss) (“AOCI”) are as follows: Year Ended December 31, 2023 2022 2021 (in thousands) Balance as of January 1 $ (36,515 ) $ 5,312 $ 13,246 Other comprehensive income (loss) before reclassification 15,913 (55,270 ) (9,579 ) Federal income tax (expense) benefit (3,342 ) 11,607 2,012 Other comprehensive income (loss) before reclassification, net of tax 12,571 (43,663 ) (7,567 ) Amounts reclassified from AOCI (60 ) 2,325 (464 ) Federal income tax expense (benefit) 13 (489 ) 97 Amounts reclassified from AOCI, net of tax (47 ) 1,836 (367 ) Other comprehensive income (loss) 12,524 (41,827 ) (7,934 ) Balance at end of period $ (23,991 ) $ (36,515 ) $ 5,312 ​

Note 14 - Underwriting Informat

Note 14 - Underwriting Information	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	14. The Company has a single reportable segment and offers primarily earthquake, fronting, inland marine, wind, casualty, and flood insurance products. Gross written premiums (“GWP”) by product are presented below: Year Ended December 31, 2023 2022 2021 ($ in thousands) % of % of % of Amount GWP Amount GWP Amount GWP Product Fronting $ 364,250 31.9 % $ 223,249 25.3 % $ 11,459 2.2 % Residential Earthquake 253,530 22.2 % 213,803 24.2 % 171,048 32.0 % Commercial Earthquake 183,368 16.1 % 131,677 14.9 % 90,552 16.9 % Inland Marine 140,067 12.3 % 105,068 11.9 % 57,124 10.7 % Casualty 76,864 6.7 % 35,791 4.1 % 9,584 1.9 % Hawaii Hurricane 38,188 3.3 % 32,967 3.7 % 30,298 5.6 % Commercial All Risk 35,515 3.1 % 51,671 5.9 % 38,640 7.2 % Residential Flood 20,087 1.8 % 14,539 1.7 % 11,652 2.2 % Specialty Homeowners (101 ) (0.0 )% 29,959 3.4 % 67,894 12.7 % Other 29,790 2.6 % 43,144 4.9 % 46,924 8.6 % Total Gross Written Premiums $ 1,141,558 100.0 % $ 881,868 100.0 % $ 535,175 100.0 % Gross written premiums by state are as follows: Year Ended December 31, 2023 2022 2021 ($ in thousands) % of % of % of Amount GWP Amount GWP Amount GWP State California $ 600,791 52.6 % $ 418,809 47.5 % $ 244,416 45.7 % Texas 95,517 8.4 % 90,459 10.3 % 62,893 11.8 % Washington 49,494 4.3 % 41,827 4.7 % 23,608 4.4 % Hawaii 47,388 4.2 % 40,157 4.5 % 34,993 6.5 % Florida 47,595 4.2 % 38,715 4.4 % 27,386 5.1 % Oregon 23,220 2.0 % 24,108 2.7 % 13,677 2.6 % Illinois 22,340 2.0 % 17,368 2.0 % 12,133 2.3 % New York 18,424 1.6 % 12,510 1.5 % 3,077 0.6 % Other 236,789 20.7 % 197,915 22.4 % 112,992 21.1 % Total Gross Written Premiums $ 1,141,558 100.0 % $ 881,868 100.0 % $ 535,175 100.0 % Gross written premiums by insurance subsidiary are as follows: Year Ended December 31, 2023 2022 2021 ($ in thousands) % of % of % of Amount GWP Amount GWP Amount GWP Subsidiary PSIC $ 653,809 57.3 % $ 489,720 55.5 % $ 383,064 71.6 % PESIC 487,749 42.7 % 392,148 44.5 % 152,111 28.4 % Total Gross Written Premiums $ 1,141,558 100.0 % $ 881,868 100.0 % $ 535,175 100.0 % The Company distributes a significant portion of its Fronting, Residential Earthquake, Commercial Earthquake, and Hawaii Hurricane products through select program administrators. Each of the products managed by the program administrators operates as a separate program that is governed by an independent, separately negotiated agreement with unique terms and conditions, including geographic scope, key men provisions, economics and exclusivity. These programs also feature separate managerial oversight and leadership, policy administration systems and retail agents originating policies. For the year ended December 31, 2023 34.5% second December 31, 2023 For the year ended December 31, 2022, second December 31, 2022. For the year ended December 31, 2021, December 31, 2021.

Note 15 - Retirement and Post-e

Note 15 - Retirement and Post-employment Retirement Plans	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Retirement Benefits [Text Block]	15. For employees meeting certain eligibility requirements, the Company provides a defined contribution retirement plan under IRC Section 401 December 31, 2023 2022 2021

Note 16 - Income Taxes

Note 16 - Income Taxes	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	16. The components of the Company’s income tax expense (benefit) are as follows: December 31, 2023 2022 2021 (in thousands) Current $ 27,267 $ 18,842 $ 10,650 Deferred (2,826 ) (3,461 ) 641 Income tax expense (benefit) $ 24,441 $ 15,381 $ 11,291 As of December 31, 2023 2022 December 31, 2023 2022 (in thousands) Deferred tax assets: Losses and LAE reserve discount $ 942 $ 680 Net operating losses 3,486 3,070 Deferred Intercompany 656 656 Unearned premiums 13,895 11,258 Capitalized organizational costs 154 184 Unrealized losses on investments 5,829 9,891 Deferred compensation 2,425 1,585 Other 1,701 1,544 Total deferred tax assets $ 29,088 $ 28,868 Deferred tax liabilities: Deferred acquisition costs $ (12,128 ) $ (11,922 ) Internally developed software (1,276 ) (1,520 ) State deferred liability (1,150 ) (1,076 ) Other (929 ) (658 ) Total deferred tax liabilities (15,483 ) (15,176 ) Net deferred tax asset (liability) before valuation allowance 13,605 13,692 Valuation allowance (3,486 ) (3,070 ) Total net deferred tax assets (liabilities) $ 10,119 $ 10,622 The above valuation allowance relates to state net operating losses ("NOL") carryforwards and federal net operating losses related to Laulima, which was formed in 2023. not not” no As of December 31, 2023 2043 2023 The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the tax years ended December 31, 2023 2022 2021 Years Ended December 31, 2023 2022 2021 ($ in thousands) Expense computed at federal tax rate $ 21,765 21.00 % $ 14,186 21.00 % $ 11,999 21.00 % Stock-based compensation and Section 162(m) 1,523 1.47 % 153 0.23 % (1,067 ) (1.87 )% Dividend received deduction and tax‑exempt interest (96 ) (0.09 )% (101 ) (0.15 )% (81 ) (0.14 )% Meals & entertainment, penalties & parking 261 0.25 % 180 0.27 % 91 0.16 % State tax expense (benefit) 303 0.29 % 773 1.14 % (1,750 ) (3.06 )% Valuation allowance 416 0.40 % 191 0.28 % 2,199 3.85 % Other 269 0.26 % (1 ) — % (101 ) (0.18 )% Income tax expense (benefit) $ 24,441 23.58 % $ 15,381 22.77 % $ 11,290 19.76 % ​ For the year ended December 31, 2023 162 December 31, 2022, 162 December 31, 202, December 31, 2022 December 31, 2021 As of December 31, 2023 2022 not twelve 2020 2022 2019 2022 2023 2024 The Company's PSRE entity may 2023.

Note 17 - Earnings Per Share

Note 17 - Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	17. The following table sets forth the computation of earnings per share of common stock: Year ended December 31, 2023 2022 2021 (in thousands, except shares and per share data) Net income $ 79,201 $ 52,170 $ 45,847 Weighted average common shares outstanding: Basic 24,822,004 25,243,397 25,459,514 Common Share equivalents 505,087 552,611 652,390 Diluted 25,327,091 25,796,008 26,111,904 Earnings per share: Basic $ 3.19 $ 2.07 $ 1.80 Diluted $ 3.13 $ 2.02 $ 1.76 Common share equivalents relate to outstanding stock options, RSUs, and PSUs under the 2019 2019 ​

Note 18 - Statutory Financial I

Note 18 - Statutory Financial Information	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Statutory Financial Information Disclosure [Text Block]	18. U.S. U.S. state insurance laws and regulations prescribe accounting practices for determining statutory net income and capital and surplus for insurance companies. In addition, state regulators may not Combined statutory net income and statutory capital surplus for the U.S. insurance subsidiaries, PSIC and PESIC as of December 31, 2023 2022 2021 December 31, 2023 2022 2021 (in thousands) Statutory net income (loss) $ 97,391 $ 76,222 $ 51,410 Statutory capital and surplus 439,264 314,508 271,977 ​ Risk-Based Capital (“RBC”) requirements promulgated by the NAIC require property/casualty insurers to maintain minimum capitalization levels determined based on formulas incorporating various business risks of the insurance subsidiaries. As of December 31, 2023 2022 Bermuda Under the Bermuda Insurance Act, 1978 December 31, 2023 2022 December 31, 2023 2022 $0.3 $0.2 2023 2022 2021 PSRE had stockholders’ equity of $16.3 million and $15.5 million on a GAAP basis at December 31, 2023 2022 2023 2022 PSRE maintains a Class 3A not December 31, 2023 2022

Note 19 - Dividend Restrictions

Note 19 - Dividend Restrictions	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Dividend Restriction Disclosure [Text Block]	19. U.S. The Company’s U.S. insurance company subsidiaries, PSIC and PESIC are restricted by the statutes as to the amount of dividends that they may Under California and Oregon statute which govern PSIC, dividends paid in a consecutive twelve 10% December 31 100% may not not may no 2024 Under Arizona statute which governs PESIC, dividends paid in a consecutive twelve 10% December 31 100% may no $1.5 2024 In addition to the above limitations, any dividend or distribution declared is also subject to state regulatory approval prior to payment. In the future, state insurance regulatory authorities may Bermuda Bermuda regulations limit the amount of dividends and return of capital paid by a regulated entity. A Class 3A 2023

Note 20 - Commitments and Conti

Note 20 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	20. Litigation The Company is subject to legal proceedings arising from the normal conduct of its business. In the opinion of management, any ultimate liability that may not Letters of Credit and Trusts As of December 31, 2023 four may ​ In addition, the Company established two 114 December 31, 2023

Note 21 - Variable Interest Ent

Note 21 - Variable Interest Entities ("VIEs")	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Variable Interest Entity Disclosure [Text Block]	21. Laulima Insurance Exchange, a Hawaii domiciled reciprocal exchange (“Laulima”) is a consolidated VIE. Laulima was formed in 2023 The Company's PUEO entity manages the business operations of Laulima and receives a management fee for the services provided to Laulima. Upon formation of Laulima, PSIC provided capital of December 31, 2023 The Company does not not no The results of operations of Laulima are included in the Company’s consolidated income statement and generated $0.1 million of earned premiums in 2023. 2023. December 31, 2023, $16.4

Note 22 - Subsequent Events

Note 22 - Subsequent Events	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	Note 22. On February 9, 2024, August 1, 2024 July 31, 2034, Months 1-12: $ 71 Months 13-24: $ 76 Months 25-36: $ 105 Months 37-48: $ 108 Months 49-60: $ 112 Months 61-72: $ 115 Months 73-84: $ 119 Months 85-96: $ 122 Months 97-108: $ 126 Months 109-120: $ 129 The Company has evaluated all other subsequent events from the balance sheet date through the date the financial statements were issued and has determined there are no

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information of Parent Company	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	II Palomar Holdings, Inc. and Subsidiaries Balance Sheets (Parent Company) (In Thousands, except shares and par value data) December 31, 2023 December 31, 2022 Assets Investments: Fixed maturity securities available for sale, at fair value (amortized cost: $ 51,946 51,993 $ 48,626 $ 45,511 Equity securities, at fair value: (cost: $ 1,725 1,725 1,835 1,626 Equity method investment 2,617 — Total investments 53,078 47,137 Cash and cash equivalents 314 781 Accrued investment income 345 320 Prepaid expenses and other assets 3,780 2,267 Receivables from subsidiaries 51,967 3,689 Note receivable from subsidiary 15,000 — Investment in subsidiaries 530,690 405,525 Total assets $ 655,174 $ 459,719 Liabilities and Stockholders' equity Liabilities: Accounts payable and other liabilities $ 10,120 $ 7,359 Payables to subsidiaries 157,404 57,324 Federal income tax payable 16,398 10,282 Total liabilities 183,922 74,965 Stockholders' equity: Common stock, $ 0.0001 500,000,000 24,772,987 25,027,467 3 3 Additional paid‑in capital 350,597 333,557 Accumulated other comprehensive income (loss) (23,991 ) (36,514 ) Retained earnings 144,643 87,708 Total stockholders' equity 471,252 384,754 Total liabilities and stockholders' equity $ 655,174 $ 459,719 ​ See accompanying notes. ​ Schedule II Palomar Holdings, Inc. and Subsidiaries Statements of Income (Parent Company) (In Thousands) Year Ended December 31, 2023 2022 2021 Revenues: Net investment income $ 1,699 $ 1,048 $ 555 Net realized and unrealized gains (losses) on investments (209 ) (320 ) 217 Total revenues 1,490 728 772 Expenses: Other operating expenses 39,347 33,292 19,480 Loss before income taxes (37,857 ) (32,564 ) (18,708 ) Income tax (benefit) expense (7,953 ) (8,464 ) 11,039 Loss before equity in net income of subsidiaries (29,904 ) (24,100 ) (29,747 ) Equity in net income of subsidiaries 109,105 76,270 75,594 Net income $ 79,201 $ 52,170 $ 45,847 Other comprehensive income: Net unrealized (losses) gains on securities available for sale (2,505 ) (3,997 ) 580 Equity in other comprehensive income (loss) of subsidiaries, net of taxes 15,029 (37,830 ) (8,514 ) Total comprehensive income $ 91,725 $ 10,343 $ 37,913 See accompanying notes. ​ Schedule II Palomar Holdings, Inc. and Subsidiaries Statements of Cash Flows (Parent Company) (In Thousands) Year Ended December 31, 2023 2022 2021 Operating activities Net income $ 79,201 $ 52,170 $ 45,847 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries (109,105 ) (76,270 ) (75,594 ) Stock-based compensation expense 10,426 8,820 4,755 Net realized and unrealized (losses) gains on investments 209 320 (217 ) Amortization of premium on fixed maturity securities 189 347 443 Deferred income tax expense 2,787 7,210 634 Changes in operating assets and liabilities: 37,777 36,449 13,596 Net cash provided by (used in) operating activities 21,484 29,046 (10,536 ) Investing activities Purchases of fixed maturity securities (11,045 ) (9,807 ) (2,177 ) Sales and maturities of fixed maturity securities 9,232 8,488 11,396 Cash paid to subsidiaries — — (15,595 ) Cash received from subsidiaries — — 27,100 Net cash (used in) provided by investing activities (1,813 ) (1,319 ) 20,724 Financing activities Proceeds from common stock issued via equity incentive plans 2,038 3,032 2,811 Policyholder contribution to surplus 90 — — Repurchase of common stock (22,266 ) (34,415 ) (15,852 ) Net cash used in financing activities (20,138 ) (31,383 ) (13,041 ) Net decrease in cash and cash equivalents (467 ) (3,656 ) (2,853 ) Cash and cash equivalents at beginning of period 781 4,437 7,290 Cash and cash equivalents at end of period $ 314 $ 781 $ 4,437 Supplementary cash flow information: Cash paid for income taxes $ 21,124 $ 18,890 $ 2,104 Cash paid for interest $ 3,682 $ 704 $ — See accompanying notes. ​ Schedule II 1.Accounting Organization Palomar Holdings, Inc. (“the Company”), is an insurance holding company that domesticated in Delaware in March 2019. October 4, 2013 Basis of Presentation The accompanying condensed financial statements have been prepared using the equity method. Under the equity method, the investment in consolidated subsidiaries is stated at cost plus equity in undistributed earnings of consolidated subsidiaries since the date of acquisition. These condensed financial statements should be read in conjunction with the Company’s consolidated financial statements. Estimates and Assumptions Preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures. Those estimates are inherently subject to change, and actual results may

Schedule V - Valuation and Qual

Schedule V - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	V Palomar Holdings, Inc. and Subsidiaries Valuation and Qualifying Accounts Additions Deductions Balance at Amounts Amounts Balance at Beginning Charged to Written End of (in thousands) of Period Expense Off Period Year Ended December 31, 2023 Valuation Allowance for deferred tax assets $ 3,070 $ 416 $ — $ 3,486 Valuation Allowance for premium receivable $ 96 $ 42 89 $ 49 Year Ended December 31, 2022 Valuation Allowance for deferred tax assets $ 2,879 $ 191 $ — $ 3,070 Valuation Allowance for premium receivable $ 315 $ 188 407 $ 96

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2023 shares
ecd_TradingArrByIndTable
Material Terms of Trading Arrangement [Text Block]	9B. Rule 10b5 1 On November 30, 2023, entered 10b5 1c may February 29, 2024 January 31, 2025. On December 11, 2023, entered 10b5 1c Company’s common stock. Pursuant to this plan, Mr. Uchida may March 11, 2024 August 31, 2024. On December 14, 2023, entered 10b5 1c may March 14, 2024 August 31, 2024. There were no 10b5 1 408 December 31, 2023 16 10b5 1 16 ​
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Mac Armstrong [Member]
ecd_TradingArrByIndTable
Trading Arrangement Adoption Date	November 30, 2023
Trading Arrangement, Individual Name	Mac Armstrong
Trading Arrangement, Individual Title	Chairman and Chief Executive Officer
Non-Rule 10b5-1 Arrangement Adopted [Flag]	true
Trading Arrangement, Securities Aggregate Available Amount	77,000
Trading Arrangement Termination Date	January 31, 2025
Chris Uchida [Member]
ecd_TradingArrByIndTable
Trading Arrangement Adoption Date	December 11, 2023
Trading Arrangement, Individual Name	Chris Uchida
Trading Arrangement, Individual Title	Chief Financial Officer
Trading Arrangement, Securities Aggregate Available Amount	16,750
Trading Arrangement Termination Date	August 31, 2024
Rule 10b5-1 Arrangement Adopted [Flag]	true
Chris Uchida [Member] | Options [Member]
ecd_TradingArrByIndTable
Trading Arrangement, Securities Aggregate Available Amount	6,000
Jon Christianson [Member]
ecd_TradingArrByIndTable
Trading Arrangement Adoption Date	December 14, 2023
Trading Arrangement, Individual Name	Jon Christianson
Trading Arrangement, Individual Title	President
Trading Arrangement, Securities Aggregate Available Amount	18,000
Trading Arrangement Termination Date	August 31, 2024
Rule 10b5-1 Arrangement Adopted [Flag]	true

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash and cash equivalents include time deposits and marketable securities with original maturities of three
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash Restricted cash includes cash on deposit with reinsurance carriers. Restricted cash also includes cash held in a fiduciary capacity for the benefit of third
Investment, Policy [Policy Text Block]	Investments All of the Company’s investments in fixed maturity securities are classified as available-for-sale and are carried at fair value. Investment income consists primarily of interest and dividends. Interest income is recognized on an accrual basis. Premiums and discounts on mortgage-backed securities and asset-backed securities are amortized or accrued using the prospective method which considers anticipated prepayments at the date of purchase. To the extent that the estimated lives of such securities change as a result of changes in estimated prepayment rates, the adjustments are included in net investment income using the prospective method. Dividend income is recognized on the ex-dividend date. Net investment income represents investment income, net of expenses. Unrealized gains and losses related to fixed maturity securities are included in accumulated other comprehensive income as a separate component of stockholders’ equity. Equity securities are carried at fair value with unrealized gains and losses included as a component of net income on the Company’s consolidated statement of income and comprehensive income. The Company uses the specific-identification method to determine the cost of fixed maturity securities sold and the first first one The Company reviews all securities with unrealized losses on a quarterly basis to assess whether the decline in the securities fair value necessitates the recognition of an allowance for credit losses. Factors considered in the review include the extent to which the fair value has been less than amortized cost, and current market interest rates and whether the unrealized loss is credit-driven or a result of changes in market interest rates. The Company also considers factors specific to the issuer including the general financial condition of the issuer, the issuers industry and future business prospects, any past failure of issuer to make scheduled interest or principal payments, and the payment structure of the investment and the issuers ability to make contractual payments on the investment. The Company also considers whether it intends to sell the security or if it is more likely than not not For fixed-maturity securities where a decline in fair value is below the amortized cost basis and the Company intends to sell the security, or it is more likely than not The Company reports accrued interest receivable as a component of accrued investment income on its consolidated balance sheet which is presented separately from available-for-sale securities. The Company does not The Company’s allowance for credit losses related to its available-for-sale securities was immaterial as of December 31, 2023 December 31, 2022
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value Fair value is defined as the price that the Company would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. The three three Level 1—Unadjusted Level 2—Pricing Level 3—Pricing To measure fair value, the Company obtains quoted market prices for its investment securities from its outside investment managers. If a quoted market price is not The fair value of the Company’s investments in fixed maturity securities is estimated using relevant inputs, including available market information, benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. An Option Adjusted Spread model is also used to develop prepayment and interest rate scenarios. Industry standard models are used to analyze and value securities with embedded options or prepayment sensitivities. These fair value measurements are estimated based on observable, objectively verifiable market information rather than market quotes; therefore, these investments are classified and disclosed in Level 2 The fair value of the Company’s investments in equity securities is based on quoted prices available in active markets and classified and disclosed in Level 1
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Variable Interest Entities ("VIE") A VIE is a legal entity that does not not 1 2
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, fixed maturity securities and reinsurance recoverables. The Company places its cash and cash equivalents with high credit quality financial institutions and its fixed maturity securities in securities of the U.S. government, U.S. government agencies, and high credit quality issuers of debt securities. The Company evaluates the financial condition of its reinsurers and reinsures its business with highly rated reinsurers and sometimes requires letters of credit or retains funds from reinsurers (see Note 10
Premiums Receivable, Basis of Accounting, Policy [Policy Text Block]	Premiums Receivable Premiums receivable represent amounts due from policyholders, insurance agents, or program administrators for policies written. Generally, premiums are collected prior to providing risk coverage, minimizing the Company’s exposure to credit risk. Premiums receivable are short-term in nature and due within a year. The Company has established an allowance for uncollectible premiums related to its credit risk, which it reviews on a quarterly basis and adjusts as appropriate. The company considers the current economic environment, specific regulatory developments, and historic payment and cancelation trends by line of business and location when determining whether to record an allowance for uncollectible premiums. The Company recorded an immaterial allowance for uncollectible premiums as of December 31, 2023 December 31, 2022
Revenue Recognition, Premiums Earned, Policy [Policy Text Block]	Earned Premiums Gross premiums written are recorded at policy inception and are earned as revenue ratably over the term of the respective policies. Premiums written not not A premium deficiency is recognized if the sum of expected losses and loss adjustment expenses, unamortized acquisition costs, and policy maintenance costs exceeds the remaining unearned premiums. A premium deficiency would first not December 31, 2023 2022
Deferred Policy Acquisition Costs, Policy [Policy Text Block]	Deferred Policy Acquisition Costs The costs of successfully acquiring new business, principally commission expense and premium taxes, are deferred and amortized over the terms of the policies in force, net of any ceding commissions or fronting fees and are shown as acquisition expenses in the accompanying consolidated statements of income and comprehensive income.
Revenue Recognition, Services, Commissions and Other Income [Policy Text Block]	Commission and Other Income Commission and other income is comprised of commissions earned on policies where the Company has no
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are capitalized and carried at cost less accumulated depreciation. Depreciation for property and equipment is calculated on a straight-line basis using useful lives of 3 to 5 years. Leasehold improvements and other fixed assets are capitalized and depreciated over the useful lives of the properties and equipment. Expenditure for maintenance and repairs are charged to operations as incurred. Upon disposition, the asset cost and related depreciation are removed from the accounts and the resulting gain or loss is included in the Company’s results of operations.
Internal Use Software, Policy [Policy Text Block]	Capitalized Software Costs associated with the implementation of certain internal systems are capitalized and carried at capitalized cost less accumulated amortization and are included as a component of prepaid expenses and other assets on the Company’s consolidated balance sheet. Costs capitalized include internal personnel costs, external developer costs, and interest. The implementation costs relate to systems built on software which the Company purchases under a cloud computing arrangement and accounts for as a service contract. As such, capitalized costs are amortized over the term of the service contract.
Intangible Assets Arising from Insurance Contracts Acquired in Business Combination, Policy [Policy Text Block]	Intangible Assets and Goodwill Intangible assets consist of both finite and indefinite lived assets. Finite lived intangible assets consist of customer relationships acquired from another insurer during 2020 2023. December 31, 2023 2022 2021
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets Long-lived assets with finite lives are tested for impairment whenever recognized events or changes in circumstances indicate the carrying value of these assets may not not not December 31, 2023 2022 2021
Liability Reserve Estimate, Policy [Policy Text Block]	Reserve for Losses and Loss Adjustment Expenses The reserve for unpaid losses and loss adjustment expenses includes estimates for unpaid claims and claim adjustment expenses on reported losses and estimates of losses incurred but not The Company’s estimates of ultimate losses and loss adjustment expenses are based in part upon the estimation of claims resulting from natural disasters such as hurricanes and earthquakes. Estimation by management of the ultimate losses and loss adjustment expenses resulting from catastrophic events is inherently difficult because of the potential severity of property catastrophe claims. Therefore, the Company uses both proprietary and commercially available models, as well as historic claims experience, for purposes of providing an estimate of ultimate losses and loss adjustment expenses. Reserves for IBNR are established in accordance with industry practice to provide for (i) the estimated amount of future loss payments on incurred claims not Ultimate losses and loss adjustment expenses may not
Reinsurance Accounting Policy [Policy Text Block]	Reinsurance The Company purchases excess of loss and quota share reinsurance to protect it against the impact of losses. The Company also writes premiums under fronting agreements where it cedes the majority of premium and risk to reinsurers in exchange for a fronting fee. Reinsurance premiums, commissions, and ceded unearned premiums are accounted for on bases consistent with the underlying terms of the reinsurance contracts and in proportion to the amount of insurance protection provided. The Company receives ceding commissions and fronting fees in connection with quota share and fronting reinsurance contracts. The ceding commissions and fronting fees are capitalized and amortized as a reduction of acquisition expenses. Amounts applicable to ceded unearned premiums are reported as assets in the accompanying consolidated balance sheets. Premiums earned and losses and loss adjustment expenses incurred are stated in the accompanying consolidated statements of income and comprehensive income net of amounts ceded to reinsurers. Reinsurance recoverables represent balances due to the Company from its reinsurers for paid and unpaid losses and loss adjustment expenses. The Company is exposed to credit losses from reinsurers being unable to meet their obligations. The Company evaluates the financial condition of potential reinsurers and reinsures its business with highly rated reinsurers with a rating of “A-“ (Excellent) (Outlook Stable) or better from A.M. Best. Reinsurers who do not 20%. not not December 31, 2023 December 31, 2022
Share-Based Payment Arrangement [Policy Text Block]	Stock Based Compensation Expense Stock-based compensation expense is recognized on a straight-line basis over the vesting period of awards. The Company does not ​
Income Tax, Policy [Policy Text Block]	Income Taxes The Company is taxed as a property/casualty insurer for federal income tax purposes. Deferred income tax assets and liabilities are determined based on the difference between the financial statement and the tax bases of assets and liabilities, using enacted tax rates expected to be in effect during the year in which the basis differences reverse. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company recognizes the tax benefit of uncertain tax positions where the position is more likely than not December 31, 2023 2022 not December 31, 2023 2022 2021
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share Basic earnings per share is calculated by dividing net income by the weighted-average common shares outstanding for the period. Diluted earnings per share reflects the dilution which could occur if equity-based awards are converted into common share equivalents as calculated using the treasury stock method. When inclusion of additional common share equivalents increases the earnings per share or reduces the loss per share, the effect on earnings per share is anti-dilutive, and the diluted net earnings or net loss per share is computed excluding these common share equivalents.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently adopted accounting pronouncements The Company has not December 31, 2023 ​ Recently issued accounting pronouncements not Segment Reporting In November 2023, No. 2023 07, Segment Reporting (Topic 280 may one 2023 07 December 15, 2023, December 15, 2024. Income Taxes In December 2023, No. 2023 09, Income Taxes (Topic 740 2023 09 2023 09 December 15, 2024.

Note 3 - Investments (Tables)

Note 3 - Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	December 31, 2023 Amortized Cost or Cost ​Gross Unrealized Gains ​Gross Unrealized Losses Allowance for Credit Losses Fair Value (in thousands) Fixed maturities: ​ ​ ​ ​ ​ U.S. Government $ 40,836 $ — $ (1,416 ) $ — $ 39,420 U.S. States, Territories, and Political Subdivisions 10,641 100 (839 ) — 9,902 Special revenue excluding mortgage/asset-backed securities 32,513 147 (3,149 ) — 29,511 Corporate and other 316,590 1,750 (17,197 ) (904 ) 300,239 Mortgage/asset-backed securities 274,550 1,879 (11,702 ) — 264,727 Total available-for-sale investments $ 675,130 $ 3,876 $ (34,303 ) $ (904 ) $ 643,799 December 31, 2022 Amortized Cost or Cost ​Gross Unrealized Gains ​Gross Unrealized Losses Allowance for Credit Losses Fair Value (in thousands) Fixed maturities: ​ ​ ​ ​ ​ U.S. Government $ 50,802 $ 2 $ (2,253 ) $ — $ 48,551 U.S. States, Territories, and Political Subdivisions 10,776 49 (1,173 ) — 9,652 Special revenue excluding mortgage/asset-backed securities 37,260 26 (4,487 ) — 32,799 Corporate and other 278,164 79 (23,912 ) (236 ) 254,095 Mortgage/asset-backed securities 184,578 251 (14,862 ) — 169,967 Total available-for-sale investments $ 561,580 $ 407 $ (46,687 ) $ (236 ) $ 515,064
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]	​ Less Than 12 Months More Than 12 Months Total ​ Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2023 Value Losses Value Losses Value Losses (in thousands) Fixed maturity securities: U.S. Government $ 738 $ (1 ) $ 38,063 $ (1,415 ) $ 38,801 $ (1,416 ) U.S. States, Territories, and Political Subdivisions — — 6,196 (839 ) 6,196 (839 ) Special revenue excluding mortgage/asset-backed securities — — 26,736 (3,149 ) 26,736 (3,149 ) Corporate and other 28,872 (480 ) 204,034 (16,717 ) 232,906 (17,197 ) Mortgage/asset-backed securities 29,334 (245 ) 117,016 (11,457 ) 146,350 (11,702 ) Total $ 58,944 $ (726 ) $ 392,045 $ (33,577 ) $ 450,989 $ (34,303 ) ​ Less Than 12 Months More Than 12 Months Total ​ Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2022 Value Losses Value Losses Value Losses ​ (in thousands) Fixed maturity securities: ​ ​ ​ ​ ​ ​ U.S. Government $ 41,077 $ (1,523 ) $ 6,853 $ (730 ) $ 47,930 $ (2,253 ) U.S. States, Territories, and Political Subdivisions 7,525 (1,173 ) — — 7,525 (1,173 ) Special revenue excluding mortgage/asset-backed securities 25,091 (3,287 ) 5,080 (1,200 ) 30,171 (4,487 ) Corporate and other 192,185 (15,667 ) 55,605 (8,481 ) 247,790 (24,148 ) Mortgage/asset-backed securities 118,815 (9,908 ) 32,448 (4,954 ) 151,263 (14,862 ) Total $ 384,693 $ (31,558 ) $ 99,986 $ (15,365 ) $ 484,679 $ (46,923 )
Investments Classified by Contractual Maturity Date [Table Text Block]	​ Amortized Fair ​ Cost Value ​ (in thousands) Due within one year $ 46,366 $ 45,221 Due after one year through five years 188,698 180,645 Due after five years through ten years 127,925 118,748 Due after ten years 37,591 34,458 Mortgage and asset-backed securities 274,550 264,727 ​ $ 675,130 $ 643,799
Unrealized Gain (Loss) on Investments [Table Text Block]	​ Year Ended December 31, ​ 2023 2022 2021 ​ (in thousands) Change in net unrealized gains (losses) ​ ​ ​ Fixed maturities $ 15,185 $ (53,076 ) $ (10,148 ) Net increase (decrease) $ 15,185 $ (53,076 ) $ (10,148 )
Investment Income [Table Text Block]	​ Year Ended December 31, ​ 2023 2022 2021 ​ (in thousands) Interest income $ 23,349 $ 13,631 $ 9,119 Dividend income 871 739 461 Investment expense (515 ) (493 ) (500 ) Net investment income $ 23,705 $ 13,877 $ 9,080
Gain (Loss) on Securities [Table Text Block]	​ Year Ended ​ December 31, ​ 2023 2022 2021 ​ (in thousands) Realized gains: Gains on sales of fixed maturity securities $ 89 $ 14 $ 466 Gains on sales of equity securities — — 1,416 Total realized gains 89 14 1,882 Realized losses: Losses on sales of fixed maturity securities (32 ) (2,340 ) (1 ) Losses on sales of equity securities — — — Total realized losses (32 ) (2,340 ) (1 ) Net realized investment gains (losses) 57 (2,326 ) 1,881 Change in allowance for credit losses (667 ) — — Net unrealized gains (losses) on equity securities 3,933 (5,203 ) (604 ) Net unrealized losses on equity method investment (382 ) — — Net realized and unrealized gains (losses) on investments $ 2,941 $ (7,529 ) $ 1,277

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	December 31, 2023 Level 1 Level 2 Level 3 Total ​ (in thousands) Assets: ​ ​ ​ ​ Fixed maturity securities ​ ​ ​ ​ U.S. Government $ — $ 39,420 $ — $ 39,420 U.S. States, Territories, and Political Subdivisions — 9,902 — 9,902 Special revenue excluding mortgage/asset-backed securities — 29,511 — 29,511 Corporate and other — 300,239 — 300,239 Mortgage/asset-backed securities — 264,727 — 264,727 Equity securities 43,160 — — 43,160 Cash, cash equivalents, and restricted cash 51,852 — — 51,852 Total assets $ 95,012 $ 643,799 $ — $ 738,811 December 31, 2022 Level 1 Level 2 Level 3 Total ​ (in thousands) Assets: ​ ​ ​ ​ Fixed maturity securities ​ ​ ​ ​ U.S. Government $ — $ 48,551 $ — $ 48,551 U.S. States, Territories, and Political Subdivisions — 9,652 — 9,652 Special revenue excluding mortgage/asset-backed securities — 32,799 — 32,799 Corporate and other — 254,095 — 254,095 Mortgage/asset-backed securities — 169,967 — 169,967 Equity securities 38,576 — — 38,576 Cash, cash equivalents, and restricted cash 68,164 — — 68,164 Total assets $ 106,740 $ 515,064 $ — $ 621,804

Note 5 - Policy Acquisition C_2

Note 5 - Policy Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Deferred Policy Acquisition Costs [Table Text Block]	​ Year ended December 31, ​ 2023 2022 2021 ​ (in thousands) Deferred Policy Acquisition Costs: ​ ​ ​ Balance, beginning of year $ 56,740 $ 55,953 $ 35,481 Additions to deferred balance: ​ ​ ​ Direct commissions 220,822 209,061 133,242 Ceding commissions and fronting fees (123,911 ) (109,302 ) (32,249 ) Premium taxes 13,690 10,166 8,209 Total net additions 110,601 109,925 109,202 Amortization of net policy acquisition costs (106,351 ) (109,138 ) (88,730 ) Balance, end of year $ 60,990 $ 56,740 $ 55,953 Acquisition expenses: Amortization of net policy acquisition costs $ 106,351 $ 109,138 $ 88,730 Period costs 1,394 1,633 6,703 Total Acquisition expenses $ 107,745 $ 110,771 $ 95,433

Note 6 - Intangible Assets an_2

Note 6 - Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	​ December 31, ​ 2023 2022 ​ (in thousands) Goodwill: $ 3,755 $ — Indefinite-lived intangibles: State insurance licenses $ 744 $ 744 Finite-lived intangibles: Customer relationships 11,803 10,023 Accumulated amortization on finite-lived intangibles (3,987 ) (2,506 ) Total intangible assets $ 12,315 $ 8,261

Note 7 - Capitalized Assets (Ta

Note 7 - Capitalized Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	Accumulated Net December 31, 2023 Cost Amortization Book Value ​ (in thousands) Capitalized Software $ 25,356 $ (9,079 ) $ 16,277 Accumulated Net December 31, 2022 Cost Amortization Book Value ​ (in thousands) Capitalized Software $ 18,622 $ (6,303 ) $ 12,319 Accumulated Net December 31, 2023 Cost Depreciation Book Value ​ (in thousands) Leasehold improvements $ 879 $ (811 ) $ 68 Computer hardware 418 (272 ) 146 Office equipment and furniture 724 (565 ) 159 Total $ 2,021 $ (1,648 ) $ 373 Accumulated Net December 31, 2022 Cost Depreciation Book Value ​ (in thousands) Leasehold improvements $ 879 $ (694 ) $ 185 Computer hardware 402 (205 ) 197 Office equipment and furniture 724 (503 ) 221 Total $ 2,005 $ (1,402 ) $ 603

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Lease, Cost [Table Text Block]	Year ended December 31, 2023 (in thousands) Operating cash outflows from operating leases $ 1,021 December 31, 2023 ($ in thousands) Operating lease ROU assets $ 934 Operating lease liabilities $ 1,085 Weighted-average remaining lease term on operating leases (years) 2.4 Weighted-average discount rate on operating leases 0.9 %
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Years ending December 31, (in thousands) 2024 643 2025 171 2026 177 2027 136 2028 — 2029 — Total future minimum lease payments $ 1,127 Less: imputed interest (42 ) Total operating lease liability $ 1,085

Note 9 - Reserve for Losses a_2

Note 9 - Reserve for Losses and Loss Adjustment Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]	​ Year Ended December 31, ​ 2023 2022 2021 ​ (in thousands) Reserve for losses and loss adjustment expense, net of reinsurance recoverables at beginning of period $ 77,520 $ 45,419 $ 34,470 Add: Incurred losses and loss adjustment expenses, net of reinsurance, related to: Current year 70,363 76,289 45,042 Prior years 2,229 2,383 (3,585 ) Total incurred 72,592 78,672 41,457 Deduct: Loss and loss adjustment expense payments, net of reinsurance, related to: Current year 19,631 21,802 12,063 Prior years 32,828 24,769 18,445 Total payments 52,459 46,571 30,508 Reserve for losses and loss adjustment expense net of reinsurance recoverables at end of period 97,653 77,520 45,419 Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period 244,622 153,895 127,947 Reserve for losses and loss adjustment expenses gross of reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period $ 342,275 $ 231,415 $ 173,366
Schedule of Reconciliation of Liability for Claims and Claim Adjustment Expenses [Table Text Block]	2023 (in thousands) Reserve for losses and loss adjustment expense, net of reinsurance recoverables: Property $ 43,326 Other liability occurrence 13,304 Other liability claims made 20,966 Reinsurance - Nonproportional assumed property (1) 8,379 Other 11,678 Total reserve for losses and loss adjustment expense, net of reinsurance recoverables 97,653 Reinsurance recoverable on unpaid claims: Property $ 84,778 Other liability occurrence 6,975 Other liability claims made 71,201 Other 81,668 Total reinsurance recoverable on unpaid claims 244,622 Total reserve for losses and loss adjustment expenses $ 342,275
Other Insurance Lines [Member]
Notes Tables
Short-Duration Insurance Contracts, Claims Development [Table Text Block]	As of December 31, 2023 Incurred but Not Reported Cumulative Number of Accident Year 2020 2021 2022 2023 Liabilities Claims Prior $ 48 $ 26 $ 7 $ — $ — 7 2021 3,429 3,299 2,928 2,073 106 2022 8,871 8,873 6,033 424 2023 12,580 9,226 922 Total $ 24,381 $ 17,332 1,459 Accident Year 2020 2021 2022 2023 Prior $ — $ — $ — $ — 2021 62 221 449 2022 481 1,584 2023 1,382 Total $ 3,415 Reserve for losses and loss adjustment expense, net of reinsurance $ 20,966
Short-Duration Insurance Contracts, Schedule of Historical Claims Duration [Table Text Block]	Year 1 Year 2 Year 3 Payout percentage 4.63 % 5.95 % 7.78 %
Special Property Product Line [Member]
Notes Tables
Short-Duration Insurance Contracts, Claims Development [Table Text Block]	As of December 31, 2023 Incurred but Not Reported Cumulative Number of Accident Year 2021 2022 2023 Liabilities Claims Prior $ 109 $ 35 $ 46 $ — 6 2021 2,138 1,641 2,172 797 19 2022 7,160 8,755 4,132 52 2023 5,005 4,055 28 Total $ 15,978 $ 8,984 105 Accident Year 2021 2022 2023 Prior $ 109 $ 35 $ 46 2021 141 347 653 2022 746 1,603 2023 372 Total $ 2,674 Reserve for losses and loss adjustment expense, net of reinsurance $ 13,304
Short-Duration Insurance Contracts, Schedule of Historical Claims Duration [Table Text Block]	Year 1 Year 2 Year 3 Payout percentage 5.61 % 6.43 % 14.09 %
Homeowners Insurance Product Line [Member]
Notes Tables
Short-Duration Insurance Contracts, Claims Development [Table Text Block]	As of December 31, 2023 Year Ended December 31, Incurred but Not Reported Cumulative Number of Accident Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 Liabilities Claims 2015 $ 2,678 $ 2,504 $ 2,329 $ 2,307 $ 2,320 $ 2,313 $ 2,316 $ 2,304 $ 2,324 $ - $ 566 2016 7,450 7,127 6,972 7,090 7,075 7,062 7,125 5,730 - $ 1,376 2017 12,425 10,893 10,644 10,652 10,561 10,668 12,339 - 3,607 2018 8,163 8,103 7,939 7,950 7,941 8,010 7 1,176 2019 4,575 4,223 3,947 4,293 4,350 3 1,666 2020 61,434 57,248 59,565 56,008 213 4,983 2021 29,836 25,158 25,733 868 5,191 2022 42,887 44,943 6,109 4,062 2023 40,921 17,407 4,130 Total $ 200,358 $ 24,607 $ 26,757 ​ Year Ended December 31, Accident Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2015 $ 1,125 $ 1,817 $ 2,109 $ 2,241 $ 2,300 $ 2,309 $ 2,316 $ 2,304 $ 2,324 2016 4,823 6,420 6,801 7,051 7,072 7,062 7,125 5,729 2017 9,102 10,719 10,639 10,640 10,560 10,636 12,339 2018 4,409 7,889 7,931 7,943 7,943 7,999 2019 2,179 3,510 3,757 4,170 4,345 2020 31,862 49,222 55,504 55,619 2021 11,355 22,500 24,408 2022 12,647 30,042 2023 14,226 Total $ 157,031 Reserve for losses and loss adjustment expense, net of reinsurance $ 43,327
Short-Duration Insurance Contracts, Schedule of Historical Claims Duration [Table Text Block]	Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 (2) Year 9 Payout percentage 52.82 % 32.23 % 6.20 % 3.32 % 1.25 % 0.38 % 5.07 % (12.44 )% 0.88 %

Note 10 - Reinsurance (Tables)

Note 10 - Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Ceded Credit Risk [Table Text Block]	Year Ended December 31, 2023 2022 2021 (in thousands) Fronting $ 351,485 $ 237,285 $ 11,001 Inland Marine 88,213 63,627 28,389 Casualty 36,677 23,398 5,138 Commercial Earthquake 29,708 20,467 14,447 Commercial All Risk 7,229 6,260 3,948 Specialty Homeowners (41 ) 4,946 27,394 Others 13,009 9,210 5,684 Total $ 526,280 $ 365,193 $ 96,001
Effects of Reinsurance [Table Text Block]	2023 2022 2021 Written Earned Written Earned Written Earned (in thousands) Premiums Written and Earned: Direct $ 1,083,804 $ 959,614 $ 816,387 $ 628,973 $ 467,424 $ 384,463 Assumed 57,754 56,107 65,481 66,299 67,751 49,535 Ceded (731,531 ) (669,808 ) (524,575 ) (378,806 ) (223,443 ) (200,172 ) Net $ 410,027 $ 345,913 $ 357,293 $ 316,466 $ 311,732 $ 233,826 2023 Losses LAE Total (in thousands) Losses and LAE Incurred: Direct $ 228,441 $ 60,834 $ 289,275 Assumed 19,799 1,789 21,588 Ceded (186,706 ) (51,565 ) (238,271 ) Net $ 61,534 $ 11,058 $ 72,592 2022 Losses LAE Total (in thousands) Losses and LAE Incurred: Direct $ 133,517 $ 38,004 $ 171,521 Assumed 23,574 5,998 29,572 Ceded (91,261 ) (31,159 ) (122,421 ) Net $ 65,829 $ 12,843 $ 78,672 2021 Losses LAE Total (in thousands) Losses and LAE Incurred: Direct $ 168,292 $ 13,295 $ 181,587 Assumed 17,184 1,926 19,110 Ceded (148,106 ) (11,134 ) (159,240 ) Net $ 37,370 $ 4,087 $ 41,457

Note 12 - Stockholders' Equity

Note 12 - Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Capital Reserved for Future Issuance [Table Text Block]	Stock options outstanding under 2019 Equity Incentive Plan 807,685 Restricted stock units outstanding under 2019 Equity Incentive Plan 333,716 Performance stock units outstanding under 2019 Equity Incentive Plan 423,621 Shares authorized for future issuance under 2019 Equity Incentive Plan 3,130,991 Shares authorized for future issuance under 2019 Employee Stock Purchase Plan 1,130,770 Total 5,826,783
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]	​ Year ended December 31, ​ 2023 2022 2021 ​ (in thousands) Stock-Based Compensation Expense $ 14,913 $ 11,624 $ 5,584
Share-Based Payment Arrangement, Activity [Table Text Block]	Number of Weighted-average exercise Weighted average remaining contractual term Aggregate intrinsic value shares price (in years) (in thousands) Outstanding at January 1, 2023 882,892 $ 33.85 — $ — Options granted — — Options exercised (61,258 ) 20.21 Options canceled (13,949 ) 67.08 Outstanding at December 31, 2023 807,685 $ 34.31 5.83 $ 21,635 Vested and Exercisable at December 31, 2023 747,105 $ 32.11 5.69 $ 21,414
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year ended December 31, 2023 (1 ) 2021 (in thousands) Risk free rate of return (2) — % 1.69% - 4.23% 0.57% - 1.35% Expected share price volatility (3) 0.00 % 39.73% - 43.03% 26.06% - 39.41% Expected life in years (4) — 5.89 5.89 Dividend yield (5) 0 % 0 % 0 %
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Number of shares Weighted-average grant date fair value Non vested outstanding at January 1, 2023 271,951 $ 68.90 Granted 170,140 51.55 Vested (86,083 ) 69.43 Forfeited (22,292 ) 52.56 Non vested outstanding at December 31, 2023 333,716 $ 61.01
Schedule of Nonvested Performance-Based Units Activity [Table Text Block]	Number of shares Weighted-average grant date fair value Non vested outstanding at January 1, 2023 383,103 $ 37.62 Granted 46,029 51.36 Vested — — Forfeited (5,511 ) 54.33 Non vested outstanding at December 31, 2023 423,621 $ 38.90

Note 13 - Accumulated Other C_2

Note 13 - Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Year Ended December 31, 2023 2022 2021 (in thousands) Balance as of January 1 $ (36,515 ) $ 5,312 $ 13,246 Other comprehensive income (loss) before reclassification 15,913 (55,270 ) (9,579 ) Federal income tax (expense) benefit (3,342 ) 11,607 2,012 Other comprehensive income (loss) before reclassification, net of tax 12,571 (43,663 ) (7,567 ) Amounts reclassified from AOCI (60 ) 2,325 (464 ) Federal income tax expense (benefit) 13 (489 ) 97 Amounts reclassified from AOCI, net of tax (47 ) 1,836 (367 ) Other comprehensive income (loss) 12,524 (41,827 ) (7,934 ) Balance at end of period $ (23,991 ) $ (36,515 ) $ 5,312

Note 14 - Underwriting Inform_2

Note 14 - Underwriting Information (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Year Ended December 31, 2023 2022 2021 ($ in thousands) % of % of % of Amount GWP Amount GWP Amount GWP Product Fronting $ 364,250 31.9 % $ 223,249 25.3 % $ 11,459 2.2 % Residential Earthquake 253,530 22.2 % 213,803 24.2 % 171,048 32.0 % Commercial Earthquake 183,368 16.1 % 131,677 14.9 % 90,552 16.9 % Inland Marine 140,067 12.3 % 105,068 11.9 % 57,124 10.7 % Casualty 76,864 6.7 % 35,791 4.1 % 9,584 1.9 % Hawaii Hurricane 38,188 3.3 % 32,967 3.7 % 30,298 5.6 % Commercial All Risk 35,515 3.1 % 51,671 5.9 % 38,640 7.2 % Residential Flood 20,087 1.8 % 14,539 1.7 % 11,652 2.2 % Specialty Homeowners (101 ) (0.0 )% 29,959 3.4 % 67,894 12.7 % Other 29,790 2.6 % 43,144 4.9 % 46,924 8.6 % Total Gross Written Premiums $ 1,141,558 100.0 % $ 881,868 100.0 % $ 535,175 100.0 % Year Ended December 31, 2023 2022 2021 ($ in thousands) % of % of % of Amount GWP Amount GWP Amount GWP State California $ 600,791 52.6 % $ 418,809 47.5 % $ 244,416 45.7 % Texas 95,517 8.4 % 90,459 10.3 % 62,893 11.8 % Washington 49,494 4.3 % 41,827 4.7 % 23,608 4.4 % Hawaii 47,388 4.2 % 40,157 4.5 % 34,993 6.5 % Florida 47,595 4.2 % 38,715 4.4 % 27,386 5.1 % Oregon 23,220 2.0 % 24,108 2.7 % 13,677 2.6 % Illinois 22,340 2.0 % 17,368 2.0 % 12,133 2.3 % New York 18,424 1.6 % 12,510 1.5 % 3,077 0.6 % Other 236,789 20.7 % 197,915 22.4 % 112,992 21.1 % Total Gross Written Premiums $ 1,141,558 100.0 % $ 881,868 100.0 % $ 535,175 100.0 % Year Ended December 31, 2023 2022 2021 ($ in thousands) % of % of % of Amount GWP Amount GWP Amount GWP Subsidiary PSIC $ 653,809 57.3 % $ 489,720 55.5 % $ 383,064 71.6 % PESIC 487,749 42.7 % 392,148 44.5 % 152,111 28.4 % Total Gross Written Premiums $ 1,141,558 100.0 % $ 881,868 100.0 % $ 535,175 100.0 %

Note 16 - Income Taxes (Tables)

Note 16 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	December 31, 2023 2022 2021 (in thousands) Current $ 27,267 $ 18,842 $ 10,650 Deferred (2,826 ) (3,461 ) 641 Income tax expense (benefit) $ 24,441 $ 15,381 $ 11,291
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2023 2022 (in thousands) Deferred tax assets: Losses and LAE reserve discount $ 942 $ 680 Net operating losses 3,486 3,070 Deferred Intercompany 656 656 Unearned premiums 13,895 11,258 Capitalized organizational costs 154 184 Unrealized losses on investments 5,829 9,891 Deferred compensation 2,425 1,585 Other 1,701 1,544 Total deferred tax assets $ 29,088 $ 28,868 Deferred tax liabilities: Deferred acquisition costs $ (12,128 ) $ (11,922 ) Internally developed software (1,276 ) (1,520 ) State deferred liability (1,150 ) (1,076 ) Other (929 ) (658 ) Total deferred tax liabilities (15,483 ) (15,176 ) Net deferred tax asset (liability) before valuation allowance 13,605 13,692 Valuation allowance (3,486 ) (3,070 ) Total net deferred tax assets (liabilities) $ 10,119 $ 10,622
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years Ended December 31, 2023 2022 2021 ($ in thousands) Expense computed at federal tax rate $ 21,765 21.00 % $ 14,186 21.00 % $ 11,999 21.00 % Stock-based compensation and Section 162(m) 1,523 1.47 % 153 0.23 % (1,067 ) (1.87 )% Dividend received deduction and tax‑exempt interest (96 ) (0.09 )% (101 ) (0.15 )% (81 ) (0.14 )% Meals & entertainment, penalties & parking 261 0.25 % 180 0.27 % 91 0.16 % State tax expense (benefit) 303 0.29 % 773 1.14 % (1,750 ) (3.06 )% Valuation allowance 416 0.40 % 191 0.28 % 2,199 3.85 % Other 269 0.26 % (1 ) — % (101 ) (0.18 )% Income tax expense (benefit) $ 24,441 23.58 % $ 15,381 22.77 % $ 11,290 19.76 %

Note 17 - Earnings Per Share (T

Note 17 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year ended December 31, 2023 2022 2021 (in thousands, except shares and per share data) Net income $ 79,201 $ 52,170 $ 45,847 Weighted average common shares outstanding: Basic 24,822,004 25,243,397 25,459,514 Common Share equivalents 505,087 552,611 652,390 Diluted 25,327,091 25,796,008 26,111,904 Earnings per share: Basic $ 3.19 $ 2.07 $ 1.80 Diluted $ 3.13 $ 2.02 $ 1.76

Note 18 - Statutory Financial_2

Note 18 - Statutory Financial Information (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Statutory Accounting Practices Disclosure [Table Text Block]	December 31, 2023 2022 2021 (in thousands) Statutory net income (loss) $ 97,391 $ 76,222 $ 51,410 Statutory capital and surplus 439,264 314,508 271,977

Note 22 - Subsequent Events (Ta

Note 22 - Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Years ending December 31, (in thousands) 2024 643 2025 171 2026 177 2027 136 2028 — 2029 — Total future minimum lease payments $ 1,127 Less: imputed interest (42 ) Total operating lease liability $ 1,085
Office in La Jolla, California [Member]
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Months 1-12: $ 71 Months 13-24: $ 76 Months 25-36: $ 105 Months 37-48: $ 108 Months 49-60: $ 112 Months 61-72: $ 115 Months 73-84: $ 119 Months 85-96: $ 122 Months 97-108: $ 126 Months 109-120: $ 129

Schedule II - Condensed Finan_2

Schedule II - Condensed Financial Information of Parent Company (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Condensed Balance Sheet [Table Text Block]	December 31, 2023 December 31, 2022 Assets Investments: Fixed maturity securities available for sale, at fair value (amortized cost: $ 51,946 51,993 $ 48,626 $ 45,511 Equity securities, at fair value: (cost: $ 1,725 1,725 1,835 1,626 Equity method investment 2,617 — Total investments 53,078 47,137 Cash and cash equivalents 314 781 Accrued investment income 345 320 Prepaid expenses and other assets 3,780 2,267 Receivables from subsidiaries 51,967 3,689 Note receivable from subsidiary 15,000 — Investment in subsidiaries 530,690 405,525 Total assets $ 655,174 $ 459,719 Liabilities and Stockholders' equity Liabilities: Accounts payable and other liabilities $ 10,120 $ 7,359 Payables to subsidiaries 157,404 57,324 Federal income tax payable 16,398 10,282 Total liabilities 183,922 74,965 Stockholders' equity: Common stock, $ 0.0001 500,000,000 24,772,987 25,027,467 3 3 Additional paid‑in capital 350,597 333,557 Accumulated other comprehensive income (loss) (23,991 ) (36,514 ) Retained earnings 144,643 87,708 Total stockholders' equity 471,252 384,754 Total liabilities and stockholders' equity $ 655,174 $ 459,719
Condensed Income Statement [Table Text Block]	Year Ended December 31, 2023 2022 2021 Revenues: Net investment income $ 1,699 $ 1,048 $ 555 Net realized and unrealized gains (losses) on investments (209 ) (320 ) 217 Total revenues 1,490 728 772 Expenses: Other operating expenses 39,347 33,292 19,480 Loss before income taxes (37,857 ) (32,564 ) (18,708 ) Income tax (benefit) expense (7,953 ) (8,464 ) 11,039 Loss before equity in net income of subsidiaries (29,904 ) (24,100 ) (29,747 ) Equity in net income of subsidiaries 109,105 76,270 75,594 Net income $ 79,201 $ 52,170 $ 45,847 Other comprehensive income: Net unrealized (losses) gains on securities available for sale (2,505 ) (3,997 ) 580 Equity in other comprehensive income (loss) of subsidiaries, net of taxes 15,029 (37,830 ) (8,514 ) Total comprehensive income $ 91,725 $ 10,343 $ 37,913
Condensed Cash Flow Statement [Table Text Block]	Year Ended December 31, 2023 2022 2021 Operating activities Net income $ 79,201 $ 52,170 $ 45,847 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries (109,105 ) (76,270 ) (75,594 ) Stock-based compensation expense 10,426 8,820 4,755 Net realized and unrealized (losses) gains on investments 209 320 (217 ) Amortization of premium on fixed maturity securities 189 347 443 Deferred income tax expense 2,787 7,210 634 Changes in operating assets and liabilities: 37,777 36,449 13,596 Net cash provided by (used in) operating activities 21,484 29,046 (10,536 ) Investing activities Purchases of fixed maturity securities (11,045 ) (9,807 ) (2,177 ) Sales and maturities of fixed maturity securities 9,232 8,488 11,396 Cash paid to subsidiaries — — (15,595 ) Cash received from subsidiaries — — 27,100 Net cash (used in) provided by investing activities (1,813 ) (1,319 ) 20,724 Financing activities Proceeds from common stock issued via equity incentive plans 2,038 3,032 2,811 Policyholder contribution to surplus 90 — — Repurchase of common stock (22,266 ) (34,415 ) (15,852 ) Net cash used in financing activities (20,138 ) (31,383 ) (13,041 ) Net decrease in cash and cash equivalents (467 ) (3,656 ) (2,853 ) Cash and cash equivalents at beginning of period 781 4,437 7,290 Cash and cash equivalents at end of period $ 314 $ 781 $ 4,437 Supplementary cash flow information: Cash paid for income taxes $ 21,124 $ 18,890 $ 2,104 Cash paid for interest $ 3,682 $ 704 $ —

Schedule V - Valuation and Qu_2

Schedule V - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Additions Deductions Balance at Amounts Amounts Balance at Beginning Charged to Written End of (in thousands) of Period Expense Off Period Year Ended December 31, 2023 Valuation Allowance for deferred tax assets $ 3,070 $ 416 $ — $ 3,486 Valuation Allowance for premium receivable $ 96 $ 42 89 $ 49 Year Ended December 31, 2022 Valuation Allowance for deferred tax assets $ 2,879 $ 191 $ — $ 3,070 Valuation Allowance for premium receivable $ 315 $ 188 407 $ 96

Note 1 - Summary of Operation_2

Note 1 - Summary of Operations and Basis of Presentation (Details Textual)	12 Months Ended
	Dec. 31, 2023
Number Of States Company Underwrites Catastrophe Insurance On Admitted Basis	42

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Premium Receivable, Allowance for Credit Loss		$ 100
Premium Deficiency	$ 0	0
Impairment of Intangible Assets (Excluding Goodwill)	0	0	$ 0
Impairment, Long-Lived Asset, Held-for-Use	0	0	0
Unrecognized Tax Benefits	0	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	$ 0	$ 0	$ 0
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	8 years
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years

Note 3 - Investments (Details T

Note 3 - Investments (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	483	543
Debt Securities, Available-for-Sale, Unrealized Loss Position	$ 450,989	$ 484,679
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	34,303	46,923
Debt Securities, Available-for-Sale, Allowance for Credit Loss	904	236
Proceeds from Sale of Debt Securities, Available-for-Sale	10,100	19,700	$ 17,400
Debt Securities, Available-for-Sale	643,799	515,064
Securities on Deposit With State Regulatory Authorities [Member]
Debt Securities, Available-for-Sale	$ 8,600	$ 8,500

Note 3 - Investments - Summary

Note 3 - Investments - Summary of Available for Sale Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Available-for-Sale, Amortized Cost	$ 675,130	$ 561,580
Available-for-sale, Accumulated Gross Unrealized Gain	3,876	407
Available-for-sale, Accumulated Gross Unrealized Loss	(34,303)	(46,687)
Available-for-Sale, Allowance for Credit Loss	(904)	(236)
Debt Securities, Available-for-sale	643,799	515,064
US Government Agencies Debt Securities [Member]
Available-for-Sale, Amortized Cost	40,836	50,802
Available-for-sale, Accumulated Gross Unrealized Gain	0	2
Available-for-sale, Accumulated Gross Unrealized Loss	(1,416)	(2,253)
Available-for-Sale, Allowance for Credit Loss	0	0
Debt Securities, Available-for-sale	39,420	48,551
US States and Political Subdivisions Debt Securities [Member]
Available-for-Sale, Amortized Cost	10,641	10,776
Available-for-sale, Accumulated Gross Unrealized Gain	100	49
Available-for-sale, Accumulated Gross Unrealized Loss	(839)	(1,173)
Available-for-Sale, Allowance for Credit Loss	0	0
Debt Securities, Available-for-sale	9,902	9,652
Special Revenue Excluding Asset Backed Securities [Member]
Available-for-Sale, Amortized Cost	32,513	37,260
Available-for-sale, Accumulated Gross Unrealized Gain	147	26
Available-for-sale, Accumulated Gross Unrealized Loss	(3,149)	(4,487)
Available-for-Sale, Allowance for Credit Loss	0	0
Debt Securities, Available-for-sale	29,511	32,799
Corporate Debt Securities and Other Debt Obligations [Member]
Available-for-Sale, Amortized Cost	316,590	278,164
Available-for-sale, Accumulated Gross Unrealized Gain	1,750	79
Available-for-sale, Accumulated Gross Unrealized Loss	(17,197)	(23,912)
Available-for-Sale, Allowance for Credit Loss	(904)	(236)
Debt Securities, Available-for-sale	300,239	254,095
Asset-Backed Securities [Member]
Available-for-Sale, Amortized Cost	274,550	184,578
Available-for-sale, Accumulated Gross Unrealized Gain	1,879	251
Available-for-sale, Accumulated Gross Unrealized Loss	(11,702)	(14,862)
Available-for-Sale, Allowance for Credit Loss	0	0
Debt Securities, Available-for-sale	$ 264,727	$ 169,967

Note 3 - Investments - Security

Note 3 - Investments - Security Holdings in an Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Less than 12 Months, fair value	$ 58,944	$ 384,693
Less than 12 Months, Accumulated Loss	(726)	(31,558)
12 Months or Longer, fair value	392,045	99,986
12 Months or Longer, Accumulated Loss	(33,577)	(15,365)
Fair value	450,989	484,679
Accumulated Loss	(34,303)	(46,923)
US Government Agencies Debt Securities [Member]
Less than 12 Months, fair value	738	41,077
Less than 12 Months, Accumulated Loss	(1)	(1,523)
12 Months or Longer, fair value	38,063	6,853
12 Months or Longer, Accumulated Loss	(1,415)	(730)
Fair value	38,801	47,930
Accumulated Loss	(1,416)	(2,253)
US States and Political Subdivisions Debt Securities [Member]
Less than 12 Months, fair value	0	7,525
Less than 12 Months, Accumulated Loss	0	(1,173)
12 Months or Longer, fair value	6,196	0
12 Months or Longer, Accumulated Loss	(839)	0
Fair value	6,196	7,525
Accumulated Loss	(839)	(1,173)
Special Revenue Excluding Asset Backed Securities [Member]
Less than 12 Months, fair value	0	25,091
Less than 12 Months, Accumulated Loss	0	(3,287)
12 Months or Longer, fair value	26,736	5,080
12 Months or Longer, Accumulated Loss	(3,149)	(1,200)
Fair value	26,736	30,171
Accumulated Loss	(3,149)	(4,487)
Corporate Debt Securities and Other Debt Obligations [Member]
Less than 12 Months, fair value	28,872	192,185
Less than 12 Months, Accumulated Loss	(480)	(15,667)
12 Months or Longer, fair value	204,034	55,605
12 Months or Longer, Accumulated Loss	(16,717)	(8,481)
Fair value	232,906	247,790
Accumulated Loss	(17,197)	(24,148)
Asset-Backed Securities [Member]
Less than 12 Months, fair value	29,334	118,815
Less than 12 Months, Accumulated Loss	(245)	(9,908)
12 Months or Longer, fair value	117,016	32,448
12 Months or Longer, Accumulated Loss	(11,457)	(4,954)
Fair value	146,350	151,263
Accumulated Loss	$ (11,702)	$ (14,862)

Note 3 - Investments - The Amor

Note 3 - Investments - The Amortized Cost and Fair Value of Fixed Maturity Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Due within one year, Amortized Cost	$ 46,366
Due within one year, Fair Value	45,221
Due after one year through five years, Amortized Cost	188,698
Due after one year through five years, Fair Value	180,645
Due after five years through ten years, Amortized Cost	127,925
Due after five years through ten years, Fair Value	118,748
Due after ten years, Amortized Cost	37,591
Due after ten years, Fair Value	34,458
Mortgage and asset-backed securities, Amortized Cost	274,550
Mortgage and asset-backed securities, Fair Value	264,727
Amortized Cost	675,130	$ 561,580
Total, Fair Value	$ 643,799	$ 515,064

Note 3 - Investments - Schedule

Note 3 - Investments - Schedule of Available-for-sale Gross Unrealized Gains or Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fixed maturities	$ 15,185	$ (53,076)	$ (10,148)
Net increase (decrease)	$ 15,185	$ (53,076)	$ (10,148)

Note 3 - Investments - Summar_2

Note 3 - Investments - Summary of Net Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest income	$ 23,349	$ 13,631	$ 9,119
Dividend income	871	739	461
Investment expense	(515)	(493)	(500)
Net investment income	$ 23,705	$ 13,877	$ 9,080

Note 3 - Investments - Net Real

Note 3 - Investments - Net Realized and Unrealized Investment Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gains on sales of fixed maturity securities	$ 89	$ 14	$ 466
Gains on sales of equity securities	0	0	1,416
Total realized gains	89	14	1,882
Losses on sales of fixed maturity securities	(32)	(2,340)	(1)
Losses on sales of equity securities	0	0	0
Total realized losses	(32)	(2,340)	(1)
Net realized investment gains (losses)	57	(2,326)	1,881
Change in allowance for credit losses	(667)	0	0
Net unrealized gains (losses) on equity securities	3,933	(5,203)	(604)
Net unrealized losses on equity method investment	(382)	0	0
Net realized and unrealized gains (losses) on investments	$ 2,941	$ (7,529)	$ 1,277

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	$ 643,799	$ 515,064
Equity securities, at fair value: (cost: $1,725 in 2023, $1,725 in 2022)	43,160	38,576
US Government Agencies Debt Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	39,420	48,551
US States and Political Subdivisions Debt Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	9,902	9,652
Special Revenue Excluding Asset Backed Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	29,511	32,799
Corporate Debt Securities and Other Debt Obligations [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	300,239	254,095
Asset-Backed Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	264,727	169,967
Fair Value, Recurring [Member]
Equity securities, at fair value: (cost: $1,725 in 2023, $1,725 in 2022)	43,160	38,576
Cash, cash equivalents, and restricted cash	51,852	68,164
Total assets	738,811	621,804
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	39,420	48,551
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	9,902	9,652
Fair Value, Recurring [Member] | Special Revenue Excluding Asset Backed Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	29,511	32,799
Fair Value, Recurring [Member] | Corporate Debt Securities and Other Debt Obligations [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	300,239	254,095
Fair Value, Recurring [Member] | Asset-Backed Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	264,727	169,967
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities, at fair value: (cost: $1,725 in 2023, $1,725 in 2022)	43,160	38,576
Cash, cash equivalents, and restricted cash	51,852	68,164
Total assets	95,012	106,740
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Special Revenue Excluding Asset Backed Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities and Other Debt Obligations [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-Backed Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities, at fair value: (cost: $1,725 in 2023, $1,725 in 2022)	0	0
Cash, cash equivalents, and restricted cash	0	0
Total assets	643,799	515,064
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	39,420	48,551
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	9,902	9,652
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Special Revenue Excluding Asset Backed Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	29,511	32,799
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities and Other Debt Obligations [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	300,239	254,095
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-Backed Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	264,727	169,967
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities, at fair value: (cost: $1,725 in 2023, $1,725 in 2022)	0	0
Cash, cash equivalents, and restricted cash	0	0
Total assets	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Special Revenue Excluding Asset Backed Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities and Other Debt Obligations [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-Backed Securities [Member]
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	$ 0	$ 0

Note 5 - Policy Acquisition C_3

Note 5 - Policy Acquisition Costs - Schedule of Policy Acquisition Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Balance, beginning of year	$ 56,740	$ 55,953	$ 35,481
Direct commissions	220,822	209,061	133,242
Ceding commissions and fronting fees	(123,911)	(109,302)	(32,249)
Premium taxes	13,690	10,166	8,209
Total net additions	110,601	109,925	109,202
Amortization of net policy acquisition costs	(106,351)	(109,138)	(88,730)
Balance, end of year	60,990	56,740	55,953
Amortization of net policy acquisition costs	106,351	109,138	88,730
Period costs	1,394	1,633	6,703
Total Acquisition expenses	$ 107,745	$ 110,771	$ 95,433

Note 6 - Intangible Assets an_3

Note 6 - Intangible Assets and Goodwill (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cost, Amortization	$ 1.5	$ 1.3
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	8 years

Note 6 - Intangible Assets an_4

Note 6 - Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill:	$ 3,755	$ 0
State insurance licenses	744	744
Customer relationships	11,803	10,023
Accumulated amortization on finite-lived intangibles	(3,987)	(2,506)
Total intangible assets	$ 12,315	$ 8,261

Note 7 - Capitalized Assets (De

Note 7 - Capitalized Assets (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Capitalized Computer Software, Amortization	$ 2.8	$ 2.6	$ 2.1
Depreciation	$ 0.2	$ 0.2	$ 0.2

Note 7 - Capitalized Assets - S

Note 7 - Capitalized Assets - Schedule of Capitalized Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Capitalized Software, cost	$ 25,356	$ 18,622
Capitalized Software, accumulated amortization	(9,079)	(6,303)
Capitalized Software, net	16,277	12,319
Capitalized assets, cost	2,021	2,005
Capitalized assets, accumulated depreciation	(1,648)	(1,402)
Property and equipment, net	373	603
Leasehold Improvements [Member]
Capitalized assets, cost	879	879
Capitalized assets, accumulated depreciation	(811)	(694)
Property and equipment, net	68	185
Computer Equipment [Member]
Capitalized assets, cost	418	402
Capitalized assets, accumulated depreciation	(272)	(205)
Property and equipment, net	146	197
Office Equipment [Member]
Capitalized assets, cost	724	724
Capitalized assets, accumulated depreciation	(565)	(503)
Property and equipment, net	$ 159	$ 221

Note 8 - Leases (Details Textua

Note 8 - Leases (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Lease, Cost	$ 0.8	$ 0.8	$ 0.7

Note 8 - Leases - Supplementary

Note 8 - Leases - Supplementary Lease Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Operating cash outflows from operating leases	$ 1,021
Operating lease ROU assets	934
Operating lease liabilities	$ 1,085
Weighted-average remaining lease term on operating leases (years) (Year)	2 years 4 months 24 days
Weighted-average discount rate on operating leases	0.90%

Note 8 - Leases - Schedule of F

Note 8 - Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
2024	$ 643
2025	171
2026	177
2027	136
2028	0
2029	0
Total future minimum lease payments	1,127
Less: imputed interest	(42)
Total operating lease liability	$ 1,085

Note 9 - Reserve for Losses a_3

Note 9 - Reserve for Losses and Loss Adjustment Expenses (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Loss and Loss Adjustment Expense Reserve Redundancy	$ (2.2)	$ (2.4)	$ 3.6

Note 9 - Reserve for Losses a_4

Note 9 - Reserve for Losses and Loss Adjustment Expenses - Reconciliation of Changes in Reserve Balance for Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reserve for losses and loss adjustment expense, net of reinsurance recoverables at beginning of period	$ 77,520	$ 45,419	$ 34,470
Current year	70,363	76,289	45,042
Prior years	2,229	2,383	(3,585)
Total incurred	72,592	78,672	41,457
Current year	19,631	21,802	12,063
Prior years	32,828	24,769	18,445
Total payments	52,459	46,571	30,508
Reserve for losses and loss adjustment expense net of reinsurance recoverables at end of period	97,653	77,520	45,419
Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period	244,622	153,895	127,947
Reserve for losses and loss adjustment expenses gross of reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period	$ 342,275	$ 231,415	$ 173,366

Note 9 - Reserve for Losses a_5

Note 9 - Reserve for Losses and Loss Adjustment Expenses - Schedule of Incurred Losses and Allocated Loss Adjustment Expenses on Homeowners' Insurance (Details) - Homeowners Insurance Product Line [Member]	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)		Dec. 31, 2020 USD ($)		Dec. 31, 2019 USD ($)		Dec. 31, 2018 USD ($)		Dec. 31, 2017 USD ($)		Dec. 31, 2016 USD ($)		Dec. 31, 2015 USD ($)
Insurance contracts, claim expense	$ 200,358,000
Insurance contracts, incurred but not reported liabilities	$ 24,607,000
Insurance contracts, number of claims	26,757
Insurance contracts, claims paid and allocated claim adjustment expense	$ 157,031,000
Reserve for losses and loss adjustment expense, net of reinsurance	43,327,000
Short-Duration Insurance Contracts, Accident Year 2015 [Member]
Insurance contracts, claim expense	2,324,000	2,304,000	$ 2,316,000		$ 2,313,000		$ 2,320,000		$ 2,307,000		$ 2,329,000		$ 2,504,000		$ 2,678,000
Insurance contracts, incurred but not reported liabilities	$ 0
Insurance contracts, number of claims	566
Insurance contracts, claims paid and allocated claim adjustment expense	$ 2,324,000	2,304,000	2,316,000		2,309,000		2,300,000		2,241,000		2,109,000		1,817,000		1,125,000
Short-Duration Insurance Contracts, Accident Year 2016 [Member]
Insurance contracts, claim expense	5,730,000	7,125,000	7,062,000	[1]	7,075,000	[1]	7,090,000	[1]	6,972,000	[1]	7,127,000	[1]	7,450,000	[1]		[1]
Insurance contracts, incurred but not reported liabilities	$ 0
Insurance contracts, number of claims	1,376
Insurance contracts, claims paid and allocated claim adjustment expense	$ 5,729,000	7,125,000	7,062,000	[1]	7,072,000	[1]	7,051,000	[1]	6,801,000	[1]	6,420,000	[1]	4,823,000	[1]		[1]
Short-Duration Insurance Contracts, Accident Year 2017 [Member]
Insurance contracts, claim expense	12,339,000	10,668,000	10,561,000	[1]	10,652,000	[1]	10,644,000	[1]	10,893,000	[1]	12,425,000	[1]		[1]
Insurance contracts, incurred but not reported liabilities	$ 0
Insurance contracts, number of claims	3,607
Insurance contracts, claims paid and allocated claim adjustment expense	$ 12,339,000	10,636,000	10,560,000	[1]	10,640,000	[1]	10,639,000	[1]	10,719,000	[1]	9,102,000	[1]		[1]
Short-Duration Insurance Contracts, Accident Year 2018 [Member]
Insurance contracts, claim expense	8,010,000	7,941,000	7,950,000	[1]	7,939,000	[1]	8,103,000	[1]	8,163,000	[1]		[1]
Insurance contracts, incurred but not reported liabilities	$ 7,000
Insurance contracts, number of claims	1,176
Insurance contracts, claims paid and allocated claim adjustment expense	$ 7,999,000	7,943,000	7,943,000	[1]	7,931,000	[1]	7,889,000	[1]	4,409,000	[1]		[1]
Short-Duration Insurance Contract, Accident Year 2019 [Member]
Insurance contracts, claim expense	4,350,000	4,293,000	3,947,000	[1]	4,223,000	[1]	4,575,000	[1]		[1]
Insurance contracts, incurred but not reported liabilities	$ 3,000
Insurance contracts, number of claims	1,666
Insurance contracts, claims paid and allocated claim adjustment expense	$ 4,345,000	4,170,000	3,757,000	[1]	3,510,000	[1]	2,179,000	[1]		[1]
Short-Duration Insurance Contract, Accident Year 2020 [Member]
Insurance contracts, claim expense	56,008,000	59,565,000	57,248,000	[1]	61,434,000	[1]		[1]
Insurance contracts, incurred but not reported liabilities	$ 213,000
Insurance contracts, number of claims	4,983
Insurance contracts, claims paid and allocated claim adjustment expense	$ 55,619,000	55,504,000	49,222,000	[1]	31,862,000	[1]		[1]
Short-Duration Insurance Contract, Accident Year 2021 [Member]
Insurance contracts, claim expense	25,733,000	25,158,000	29,836,000	[1]		[1]
Insurance contracts, incurred but not reported liabilities	$ 868,000
Insurance contracts, number of claims	5,191
Insurance contracts, claims paid and allocated claim adjustment expense	$ 24,408,000	22,500,000	11,355,000	[1]		[1]
Short-Duration Insurance Contract, Accident Year 2022 [Member]
Insurance contracts, claim expense	44,943,000	42,887,000		[1]
Insurance contracts, incurred but not reported liabilities	$ 6,109,000
Insurance contracts, number of claims	4,062
Insurance contracts, claims paid and allocated claim adjustment expense	$ 30,042,000	12,647,000		[1]
Short-Duration Insurance Contract, Accident Year 2023 [Member]
Insurance contracts, claim expense	40,921,000
Insurance contracts, incurred but not reported liabilities	$ 17,407,000
Insurance contracts, number of claims	4,130
Insurance contracts, claims paid and allocated claim adjustment expense	$ 14,226
[1]Reflects the Company’s share of Loss and Loss Adjustment Expense related to non-proportional assumed reinsurance business. This amount reflects gross and net reserves related to this treaty and the ultimate incurred amount reflects IBNR only. The Company does not have direct access to individual claim information underlying the assumed quota arrangement. The Company does not use claim frequency information in the determination of loss reserves or for other internal purposes. Based on these considerations, the Company does not believe providing claims frequency information is practicable as it relates to this line of business.

Note 9 - Reserve for Losses a_6

Note 9 - Reserve for Losses and Loss Adjustment Expenses - Schedule of Average Annual Percentage Payout of Incurred Claims on Homeowners' Insurance (Details) - Homeowners Insurance Product Line [Member]	Dec. 31, 2023
Payout percentage, year 1	52.82%
Payout percentage, year 2	32.23%
Payout percentage, year 3	6.20%
Payout percentage, year 4	3.32%
Payout percentage, year 5	1.25%
Payout percentage, year 6	0.38%
Payout percentage, year 7	5.07%
Payout percentage, year 8	(12.44%)	[1]
Payout percentage, year 9	0.88%
[1]Negative payout percentages are due to timing of reinsurance payments, allocations of reinsurance between different lines of business based on actual results, and allocation of reinsurance to different periods for reinsurance treaties in effect for multiple periods. These are primarily associated with larger recoveries from catastrophe events in earlier years of operation.

Note 9 - Reserve for Losses a_7

Note 9 - Reserve for Losses and Loss Adjustment Expenses - Schedule of Incurred Losses and Allocated Loss Adjustment Expenses on Special Property Insurance (Details) - Special Property Product Line [Member] $ in Thousands		Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Insurance contracts, claim expense	[1]	$ 15,978
Insurance contracts, incurred but not reported liabilities	[1]	$ 8,984
Insurance contracts, number of claims	[1]	105
Insurance contracts, claims paid and allocated claim adjustment expense	[1]	$ 2,674
Reserve for losses and loss adjustment expense, net of reinsurance	[1]	13,304
Short-Duration Insurance Contract, Prior Accident Years [Member]
Insurance contracts, claim expense		46	$ 35	$ 109
Insurance contracts, incurred but not reported liabilities		$ 0
Insurance contracts, number of claims		6
Insurance contracts, claims paid and allocated claim adjustment expense		$ 46	35	109
Short-Duration Insurance Contract, Accident Year 2021 [Member]
Insurance contracts, claim expense	[1]	2,172	1,641	2,138
Insurance contracts, incurred but not reported liabilities	[1]	$ 797
Insurance contracts, number of claims	[1]	19
Insurance contracts, claims paid and allocated claim adjustment expense	[1]	$ 653	347	$ 141
Short-Duration Insurance Contract, Accident Year 2022 [Member]
Insurance contracts, claim expense	[1]	8,755	7,160
Insurance contracts, incurred but not reported liabilities	[1]	$ 4,132
Insurance contracts, number of claims	[1]	52
Insurance contracts, claims paid and allocated claim adjustment expense	[1]	$ 1,603	$ 746
Short-Duration Insurance Contract, Accident Year 2023 [Member]
Insurance contracts, claim expense		5,005
Insurance contracts, incurred but not reported liabilities		$ 4,055
Insurance contracts, number of claims		28
Insurance contracts, claims paid and allocated claim adjustment expense		$ 372
[1]Reflects the Company’s share of Loss and Loss Adjustment Expense related to non-proportional assumed reinsurance business. This amount reflects gross and net reserves related to this treaty and the ultimate incurred amount reflects IBNR only. The Company does not have direct access to individual claim information underlying the assumed quota arrangement. The Company does not use claim frequency information in the determination of loss reserves or for other internal purposes. Based on these considerations, the Company does not believe providing claims frequency information is practicable as it relates to this line of business.

Note 9 - Reserve for Losses a_8

Note 9 - Reserve for Losses and Loss Adjustment Expenses - Schedule of Average Annual Percentage Payout of Incurred Claims on Special Property Insurance (Details) - Special Property Product Line [Member]	Dec. 31, 2023
Payout percentage, year 1	5.61%
Payout percentage, year 2	6.43%
Payout percentage, year 3	14.09%

Note 9 - Reserve for Losses a_9

Note 9 - Reserve for Losses and Loss Adjustment Expenses - Schedule of Incurred Losses and Allocated Loss Adjustment Expenses on Other Insurance (Details) - Other Insurance Lines [Member] $ in Thousands		Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Insurance contracts, claim expense	[1]	$ 24,381
Insurance contracts, incurred but not reported liabilities	[1]	$ 17,332
Insurance contracts, number of claims	[1]	1,459,000
Insurance contracts, claims paid and allocated claim adjustment expense	[1]	$ 3,415
Reserve for losses and loss adjustment expense, net of reinsurance	[1]	20,966
Short-Duration Insurance Contract, Prior Accident Years [Member]
Insurance contracts, claim expense		0	$ 7	$ 26	$ 48
Insurance contracts, incurred but not reported liabilities		$ 0
Insurance contracts, number of claims		7
Insurance contracts, claims paid and allocated claim adjustment expense		$ 0	0	0	0
Short-Duration Insurance Contract, Accident Year 2021 [Member]
Insurance contracts, claim expense	[1]	2,928	3,299	3,429
Insurance contracts, incurred but not reported liabilities	[1]	$ 2,073
Insurance contracts, number of claims	[1]	106,000
Insurance contracts, claims paid and allocated claim adjustment expense	[1]	$ 449	221	$ 62
Short-Duration Insurance Contract, Accident Year 2022 [Member]
Insurance contracts, claim expense	[1]	8,873	8,871
Insurance contracts, incurred but not reported liabilities	[1]	$ 6,033
Insurance contracts, number of claims	[1]	424,000
Insurance contracts, claims paid and allocated claim adjustment expense	[1]	$ 1,584	$ 481
Short-Duration Insurance Contract, Accident Year 2023 [Member]
Insurance contracts, claim expense		12,580
Insurance contracts, incurred but not reported liabilities		$ 9,226
Insurance contracts, number of claims		922,000
Insurance contracts, claims paid and allocated claim adjustment expense		$ 1,382
[1]Reflects the Company’s share of Loss and Loss Adjustment Expense related to non-proportional assumed reinsurance business. This amount reflects gross and net reserves related to this treaty and the ultimate incurred amount reflects IBNR only. The Company does not have direct access to individual claim information underlying the assumed quota arrangement. The Company does not use claim frequency information in the determination of loss reserves or for other internal purposes. Based on these considerations, the Company does not believe providing claims frequency information is practicable as it relates to this line of business.

Note 9 - Reserve for Losses _10

Note 9 - Reserve for Losses and Loss Adjustment Expenses - Schedule of Average Annual Percentage Payout of Incurred Claims on Other Insurance (Details) - Other Insurance Lines [Member]	Dec. 31, 2023
Payout percentage, year 1	4.63%
Payout percentage, year 2	5.95%
Payout percentage, year 3	7.78%

Note 9 - Reserve for Losses _11

Note 9 - Reserve for Losses and Loss Adjustment Expenses - Reconciliation of Liability for Claims and Claim Adjustments Expenses (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reserve for losses and loss adjustment expense, net of reinsurance		$ 97,653	$ 77,520	$ 45,419	$ 34,470
Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period		244,622	153,895	127,947
Reserve for losses and loss adjustment expenses		342,275	$ 231,415	$ 173,366
Property Lines [Member]
Reserve for losses and loss adjustment expense, net of reinsurance		43,326
Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period		84,778
Other Liability Occurrence [Member]
Reserve for losses and loss adjustment expense, net of reinsurance		13,304
Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period		6,975
Other Liability Claims [Member]
Reserve for losses and loss adjustment expense, net of reinsurance		20,966
Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period		71,201
Reinsurance Nonproportional Assumed Property [Member]
Reserve for losses and loss adjustment expense, net of reinsurance	[1]	8,379
Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period		81,668
Insurance, Other [Member]
Reserve for losses and loss adjustment expense, net of reinsurance		11,678
Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period		$ 244,622
[1]Reflects the Company’s share of Loss and Loss Adjustment Expense related to non-proportional assumed reinsurance business. This amount reflects gross and net reserves related to this treaty and the ultimate incurred amount reflects IBNR only. The Company does not have direct access to individual claim information underlying the assumed quota arrangement. The Company does not use claim frequency information in the determination of loss reserves or for other internal purposes. Based on these considerations, the Company does not believe providing claims frequency information is practicable as it relates to this line of business.

Note 10 - Reinsurance (Details

Note 10 - Reinsurance (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2021 USD ($)
Reinsurance, Amount Retained, Per Event	$ 13,400	$ 10,700
Prepaid Reinsurance Premiums	265,808	204,084
Catastrophe Bond, Face Value				$ 200,000	$ 275,000	$ 400,000
Ceded Premiums Written	731,531	524,575	$ 223,443
Ceded Premiums Earned	669,808	378,806	200,172
Largest Reinsurer One [Member]
Ceded Premiums Earned	152,400	24,700	24,700
Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments	69,500	60,600
Largest Reinsurer Two [Member]
Ceded Premiums Earned	65,900	22,900	11,700
Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments	29,800	53,900
Largest Reinsurer Three [Member]
Ceded Premiums Earned	47,400	18,400	$ 10,400
Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments	$ 25,500	$ 50,600
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member]
Number of Largest Reinsurers	3	3	3
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | Three Largest Reinsurers [Member]
Concentration Risk, Percentage	36.30%	23.90%	20.90%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | Three Largest Reinsurers [Member]
Number of Largest Reinsurers	3	3
Concentration Risk, Percentage	45.70%	31.50%
Catastrophe [Member]
Reinsurance, Amount Retained, Per Event	$ 17,500
Ceded Premiums Written	42,700	$ 28,300	$ 11,700
Earthquake [Member]
Reinsurance Policy, Excess of Loss Protection Amount	2,710
Hawaii Hurricane [Member]
Reinsurance Policy, Excess of Loss Protection Amount	900,000
U.S. Hurricane [Member]
Reinsurance Policy, Excess of Loss Protection Amount	$ 100,000

Note 10 - Reinsurance - Schedul

Note 10 - Reinsurance - Schedule of Ceded Premiums (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Ceded premiums written	$ 731,531	$ 524,575	$ 223,443
Ceded Written Premiums Under Fronting and Quota Share Arrangements [Member]
Ceded premiums written	526,280	365,193	96,001
Ceded Written Premiums Under Fronting and Quota Share Arrangements [Member] | Fronting Premium [Member]
Ceded premiums written	351,485	237,285	11,001
Ceded Written Premiums Under Fronting and Quota Share Arrangements [Member] | Inland Marine [Member]
Ceded premiums written	88,213	63,627	28,389
Ceded Written Premiums Under Fronting and Quota Share Arrangements [Member] | Casualty [Member]
Ceded premiums written	36,677	23,398	5,138
Ceded Written Premiums Under Fronting and Quota Share Arrangements [Member] | Commercial Earthquake [Member]
Ceded premiums written	29,708	20,467	14,447
Ceded Written Premiums Under Fronting and Quota Share Arrangements [Member] | Commercial All Risk [Member]
Ceded premiums written	7,229	6,260	3,948
Ceded Written Premiums Under Fronting and Quota Share Arrangements [Member] | Special Property Product Line [Member]
Ceded premiums written	(41)	4,946	27,394
Ceded Written Premiums Under Fronting and Quota Share Arrangements [Member] | Insurance, Other [Member]
Ceded premiums written	$ 13,009	$ 9,210	$ 5,684

Note 10 - Reinsurance - Effects

Note 10 - Reinsurance - Effects of Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Written premiums, direct	$ 1,083,804	$ 816,387	$ 467,424
Earned premiums, direct	959,614	628,973	384,463
Written premiums, assumed	57,754	65,481	67,751
Earned premiums, assumed	56,107	66,299	49,535
Ceded written premiums	(731,531)	(524,575)	(223,443)
Earned premiums, ceded	(669,808)	(378,806)	(200,172)
Net written premiums	410,027	357,293	311,732
Net earned premiums	345,913	316,466	233,826
Losses, direct	228,441	133,517	168,292
LAE, direct	60,834	38,004	13,295
Losses and LAE, direct	289,275	171,521	181,587
Losses, assumed	19,799	23,574	17,184
LAE, assumed	1,789	5,998	1,926
Losses and LAE, assumed	21,588	29,572	19,110
Losses, ceded	(186,706)	(91,261)	(148,106)
LAE, ceded	(51,565)	(31,159)	(11,134)
Losses and LAE, ceded	(238,271)	(122,421)	(159,240)
Losses, net	61,534	65,829	37,370
LAE, net	11,058	12,843	4,087
Losses and loss adjustment expenses	$ 72,592	$ 78,672	$ 41,457

Note 11 - Credit Agreements (De

Note 11 - Credit Agreements (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available as Percentage of Statutory Admitted Assets		10%
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances		$ 52,600	$ 36,400
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate		5.62%
Interest Expense, Loans from Other Federal Home Loan Banks		$ 2,800	500
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 100,000
Line of Credit Facility, Commitment Fee Amount	$ 300
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Debt Instrument, Basis Spread on Variable Rate, Additional Spread for Default	2%
Long-Term Line of Credit		0
Interest Expense, Debt		$ 1,000	$ 400
Revolving Credit Facility [Member] | Secured Overnight Financing Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Revolving Credit Facility [Member] | Alternate Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%

Note 12 - Stockholders' Equit_2

Note 12 - Stockholders' Equity (Details Textual) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2023 USD ($) $ / shares shares		Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Jan. 24, 2022 USD ($)	Apr. 16, 2019 shares
Preferred Stock, Shares Authorized (in shares)		5,000,000		5,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares		$ 0.0001		$ 0.0001
Preferred Stock, Shares Issued (in shares)		0		0
Common Stock, Shares Authorized (in shares)		500,000,000		500,000,000
Common Stock, Shares, Issued (in shares)		24,772,987		25,027,467
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares		$ 0.0001		$ 0.0001
Additional Paid in Capital, Common Stock | $		$ 350,597		$ 333,558
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | $		$ 3,500		$ 7,100
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	[1]	0%	[2]	0%	0%
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)		17,080		13,990
Stock Repurchase Program, Authorized Amount | $						$ 100,000
Treasury Stock, Shares, Acquired (in shares)		418,901
Treasury Stock, Value, Acquired, Cost Method | $		$ 22,300
Shares Acquired, Average Cost Per Share (in dollars per share) | $ / shares		$ 54.4
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)		43,500,000
Preferred Stock, Shares Outstanding (in shares)		0		0
Common Stock, Shares, Outstanding (in shares)		24,772,987		25,027,467
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)		10 years
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $		$ 1,300
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate		0%
Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Tranche One [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		2 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		25%
Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Tranche One [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		4 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		50%
Share-Based Payment Arrangement, Option [Member] | Share Based Payment Arrangement Tranche One First Anniversary [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		1 year
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		2 years
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $		$ 15,300
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		170,140
Restricted Stock Units (RSUs) [Member] | Executive Officer [Member] | Year 2021 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)					5 years
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $					$ 14,600
Number of Stock Price Milestones Achieved		0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					192,307
Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Service Period (Year)		3 years
Performance Shares [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		2 years 6 months
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $		$ 9,000
Number of Stock Price Milestones Achieved		0
Predetermined Performance Achievement, Percentage		100%
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		46,029
Performance Shares [Member] | Executive Officer [Member] | Year 2021 [Member]
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $					$ 12,400
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					350,000
Performance Shares [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Service Period (Year)		5 years
Number of Days, Achievement of Milestone Stock Price		30
Performance Shares [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Service Period (Year)		3 years
RSUs and PSUs [Member] | Executive Officer [Member] | Year 2021 [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					5 years
Employee Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)							240,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Available for Issuance, Authorized Annual Increase, Maximum (in shares)							240,000
Equity Incentive Plan 2019 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)		3,130,991					2,400,000
Share Based Compensation Arrangement By Share Based Payment Award Percentage, Number of Additional Shares Available for Grant							3%
[1]Determined to be zero as the Company does not currently plan to issue dividends.[2]There were no stock options granted during the year ended December 31, 2023.

Note 12 - Stockholders' Equit_3

Note 12 - Stockholders' Equity - Common Stock Reserved for Future Issuance (Details) - shares	Dec. 31, 2023	Dec. 31, 2022	Apr. 16, 2019
Options, Outstanding, Number (in shares)	807,685	882,892
Total (in shares)	5,826,783
Restricted Stock Units (RSUs) [Member]
Equity Instruments Other than Options, Nonvested, Number (in shares)	333,716	271,951
Performance Shares [Member]
Equity Instruments Other than Options, Nonvested, Number (in shares)	423,621	383,103
Equity Incentive Plan 2019 [Member]
Options, Outstanding, Number (in shares)	807,685
Number of Shares Authorized (in shares)	3,130,991		2,400,000
Equity Incentive Plan 2019 [Member] | Restricted Stock Units (RSUs) [Member]
Equity Instruments Other than Options, Nonvested, Number (in shares)	333,716
Equity Incentive Plan 2019 [Member] | Performance Shares [Member]
Equity Instruments Other than Options, Nonvested, Number (in shares)	423,621
Employee Stock Purchase Plan 2019 [Member]
Number of Shares Authorized (in shares)	1,130,770

Note 12 - Stockholders' Equit_4

Note 12 - Stockholders' Equity - Schedule of Stock-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock-Based Compensation Expense	$ 14,913	$ 11,624	$ 5,584

Note 12 - Stockholders' Equit_5

Note 12 - Stockholders' Equity - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Outstanding, options (in shares) | shares	882,892
Outstanding, options, weighted average exercise price (in dollars per share) | $ / shares	$ 33.85
Options exercised, options (in shares) | shares	(61,258)
Options exercised, options, weighted average exercise price (in dollars per share) | $ / shares	$ 20.21
Options canceled, options (in shares) | shares	(13,949)
Options canceled, options, weighted average exercise price (in dollars per share) | $ / shares	$ 67.08
Outstanding, options (in shares) | shares	807,685
Outstanding, options, weighted average exercise price (in dollars per share) | $ / shares	$ 34.31
Outstanding, options, weighted average remaining contractual term (Year)	5 years 9 months 29 days
Outstanding, options, aggregate intrinsic value | $	$ 21,635
Vested and Exercisable, options (in shares) | shares	747,105
Vested and Exercisable, options, weighted average exercise price (in dollars per share) | $ / shares	$ 32.11
Vested and Exercisable, options, weighted average remaining contractual term (Year)	5 years 8 months 8 days
Vested and Exercisable, options, aggregate intrinsic value | $	$ 21,414

Note 12 - Stockholders' Equit_6

Note 12 - Stockholders' Equity - Schedule of Valuation Assumptions for Options (Details)		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022	Dec. 31, 2021
Risk free rate of return (2)	[1],[2]	0%
Expected share price volatility (3)	[2],[3]	0%
Expected life in years (4) (Year)	[4]			5 years 10 months 20 days	5 years 10 months 20 days
Dividend yield (5)	[5]	0%	[2]	0%	0%
Minimum [Member]
Risk free rate of return (2)	[1]			1.69%	0.57%
Expected share price volatility (3)	[3]			39.73%	26.06%
Maximum [Member]
Risk free rate of return (2)	[1]			4.23%	1.35%
Expected share price volatility (3)	[3]			43.03%	39.41%
[1]Determined based on the U.S. Treasury yield in effect at the time of the grant for zero-coupon U.S. Treasury notes with remaining terms similar to the expected term of the options.[2]There were no stock options granted during the year ended December 31, 2023.[3]Determined based on a blend of the Company’s historic stock price volatility and the historic volatility of a peer group of publicly traded companies.[4]Determined using the “simplified method” for estimating the expected option life, which is the average of the weighted-average vesting period and contractual term of the option as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term due to the limited period of time its common stock has been publicly traded.[5]Determined to be zero as the Company does not currently plan to issue dividends.

Note 12 - Stockholders' Equit_7

Note 12 - Stockholders' Equity - Summary of RSU Transactions (Details) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Non-vested, shares (in shares) | shares	271,951
Non-vested outstanding, weighted average grant date fair value (in dollars per share) | $ / shares	$ 68.9
Granted, shares (in shares) | shares	170,140
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 51.55
Vested, shares (in shares) | shares	(86,083)
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 69.43
Forfeited, shares (in shares) | shares	(22,292)
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	$ 52.56
Non-vested, shares (in shares) | shares	333,716
Non-vested outstanding, weighted average grant date fair value (in dollars per share) | $ / shares	$ 61.01

Note 12 - Stockholders' Equit_8

Note 12 - Stockholders' Equity - Summary of PSU Transactions (Details) - Performance Shares [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Non-vested, shares (in shares) | shares	383,103
Non-vested outstanding, weighted average grant date fair value (in dollars per share) | $ / shares	$ 37.62
Granted, shares (in shares) | shares	46,029
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 51.36
Vested, shares (in shares) | shares	0
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0
Forfeited, shares (in shares) | shares	(5,511)
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	$ 54.33
Non-vested, shares (in shares) | shares	423,621
Non-vested outstanding, weighted average grant date fair value (in dollars per share) | $ / shares	$ 38.9

Note 13 - Accumulated Other C_3

Note 13 - Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Balance as of January 1	$ 384,754	$ 394,169	$ 363,713
Other comprehensive income (loss)	12,524	(41,827)	(7,934)
Balance at end of period	471,252	384,754	394,169
AOCI Attributable to Parent [Member]
Balance as of January 1	(36,515)	5,312	13,246
Other comprehensive income (loss) before reclassification	15,913	(55,270)	(9,579)
Federal income tax (expense) benefit	(3,342)	11,607	2,012
Other comprehensive income (loss) before reclassification, net of tax	12,571	(43,663)	(7,567)
Amounts reclassified from AOCI	(60)	2,325	(464)
Federal income tax expense (benefit)	13	(489)	97
Amounts reclassified from AOCI, net of tax	(47)	1,836	(367)
Other comprehensive income (loss)	12,524	(41,827)	(7,934)
Balance at end of period	$ (23,991)	$ (36,515)	$ 5,312

Note 14 - Underwriting Inform_3

Note 14 - Underwriting Information (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Premiums Written, Gross	$ 1,141,558	$ 881,868	$ 535,175
Percentage of Gross Written Premiums	100%	100%	100%
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Largest Program Administrator [Member]
Premiums Written, Gross	$ 394,100	$ 322,400	$ 215,300
Percentage of Gross Written Premiums	34.50%	36.60%	40.20%
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Second Largest Program Administrator [Member]
Premiums Written, Gross	$ 152,400	$ 95,100
Percentage of Gross Written Premiums	13.30%	10.80%
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Other Program Administrators [Member]
Premiums Written, Gross	$ 0	$ 0	$ 0
Percentage of Gross Written Premiums	10%	10%	10%

Note 14 - Underwriting Inform_4

Note 14 - Underwriting Information - Schedule of Gross Written Premiums (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gross written premiums	$ 1,141,558,000	$ 881,868,000	$ 535,175,000
Percentage of Gross Written Premiums	100%	100%	100%
Palomar Specialty Insurance Company [Member]
Gross written premiums	$ 653,809,000	$ 489,720,000	$ 383,064,000
Percentage of Gross Written Premiums	57.30%	55.50%	71.60%
Palomar Excess And Surplus Insurance Company [Member]
Gross written premiums	$ 487,749,000	$ 392,148,000	$ 152,111,000
Percentage of Gross Written Premiums	42.70%	44.50%	28.40%
CALIFORNIA
Gross written premiums	$ 600,791,000	$ 418,809,000	$ 244,416,000
Percentage of Gross Written Premiums	52.60%	47.50%	45.70%
TEXAS
Gross written premiums	$ 95,517,000	$ 90,459,000	$ 62,893,000
Percentage of Gross Written Premiums	8.40%	10.30%	11.80%
WASHINGTON
Gross written premiums	$ 49,494,000	$ 41,827,000	$ 23,608,000
Percentage of Gross Written Premiums	4.30%	4.70%	4.40%
HAWAII
Gross written premiums	$ 47,388,000	$ 40,157,000	$ 34,993,000
Percentage of Gross Written Premiums	4.20%	4.50%	6.50%
FLORIDA
Gross written premiums	$ 47,595,000	$ 38,715,000	$ 27,386,000
Percentage of Gross Written Premiums	4.20%	4.40%	5.10%
OREGON
Gross written premiums	$ 23,220,000	$ 24,108,000	$ 13,677,000
Percentage of Gross Written Premiums	2%	2.70%	2.60%
ILLINOIS
Gross written premiums	$ 22,340,000	$ 17,368,000	$ 12,133,000
Percentage of Gross Written Premiums	2%	2%	2.30%
NEW YORK
Gross written premiums	$ 18,424	$ 12,510	$ 3,077
Percentage of Gross Written Premiums	1.60%	1.50%	0.60%
Other States [Member]
Gross written premiums	$ 236,789,000	$ 197,915,000	$ 112,992,000
Percentage of Gross Written Premiums	20.70%	22.40%	21.10%
Fronting Premium [Member]
Gross written premiums	$ 364,250,000	$ 223,249,000	$ 11,459,000
Percentage of Gross Written Premiums	31.90%	25.30%	2.20%
Residential Earthquake [Member]
Gross written premiums	$ 253,530,000	$ 213,803,000	$ 171,048,000
Percentage of Gross Written Premiums	22.20%	24.20%	32%
Commercial Earthquake [Member]
Gross written premiums	$ 183,368,000	$ 131,677,000	$ 90,552,000
Percentage of Gross Written Premiums	16.10%	14.90%	16.90%
Inland Marine [Member]
Gross written premiums	$ 140,067,000	$ 105,068,000	$ 57,124,000
Percentage of Gross Written Premiums	12.30%	11.90%	10.70%
Casualty [Member]
Gross written premiums	$ 76,864,000	$ 35,791,000	$ 9,584,000
Percentage of Gross Written Premiums	6.70%	4.10%	1.90%
Hawaii Hurricane [Member]
Gross written premiums	$ 38,188,000	$ 32,967,000	$ 30,298,000
Percentage of Gross Written Premiums	3.30%	3.70%	5.60%
Commercial All Risk [Member]
Gross written premiums	$ 35,515,000	$ 51,671,000	$ 38,640,000
Percentage of Gross Written Premiums	3.10%	5.90%	7.20%
Flood Insurance Product [Member]
Gross written premiums	$ 20,087,000	$ 14,539,000	$ 11,652,000
Percentage of Gross Written Premiums	1.80%	1.70%	2.20%
Specialty Homeowners [Member]
Gross written premiums		$ 29,959,000	$ 67,894,000
Percentage of Gross Written Premiums	(0.00%)	3.40%	12.70%
Specialty Homeowners	$ (101,000)
Service, Other [Member]
Gross written premiums	$ 29,790,000	$ 43,144,000	$ 46,924,000
Percentage of Gross Written Premiums	2.60%	4.90%	8.60%

Note 15 - Retirement and Post_2

Note 15 - Retirement and Post-employment Retirement Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3%
Defined Contribution Plan, Cost	$ 0.9	$ 0.7	$ 0.7

Note 16 - Income Taxes (Details

Note 16 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits	$ 0	$ 0
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards	$ 100
Open Tax Year	2020 2021 2022
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 2,800
Open Tax Year	2019 2020 2021 2022

Note 16 - Income Taxes - Compon

Note 16 - Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current	$ 27,267	$ 18,842	$ 10,650
Deferred	(2,826)	(3,461)	641
Income tax expense (benefit)	$ 24,441	$ 15,381	$ 11,291

Note 16 - Income Taxes - Deferr

Note 16 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Losses and LAE reserve discount	$ 942	$ 680
Net operating losses	3,486	3,070
Deferred Intercompany	656	656
Unearned premiums	13,895	11,258
Capitalized organizational costs	154	184
Unrealized losses on investments	5,829	9,891
Deferred compensation	2,425	1,585
Other	1,701	1,544
Total deferred tax assets	29,088	28,868
Deferred acquisition costs	(12,128)	(11,922)
Internally developed software	(1,276)	(1,520)
State deferred liability	(1,150)	(1,076)
Other	(929)	(658)
Total deferred tax liabilities	(15,483)	(15,176)
Net deferred tax asset (liability) before valuation allowance	13,605	13,692
Valuation allowance	(3,486)	(3,070)
Total net deferred tax assets (liabilities)	$ 10,119	$ 10,622

Note 16 - Income Taxes - Reconc

Note 16 - Income Taxes - Reconciliation of Federal Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Expense computed at federal tax rate	$ 21,765	$ 14,186	$ 11,999
Expense computed at federal tax rate, percent	21%	21%	21%
Stock-based compensation and Section 162(m)	$ 1,523	$ 153	$ (1,067)
Stock-based compensation and Section 162(m)	1.47%	0.23%	(1.87%)
Dividend received deduction and tax-exempt interest	$ (96)	$ (101)	$ (81)
Dividend received deduction and tax-exempt interest, percent	(0.09%)	(0.15%)	(0.14%)
Meals & entertainment, penalties & parking	$ 261	$ 180	$ 91
Meals & entertainment, penalties & parking, percent	0.25%	0.27%	0.16%
State tax expense (benefit)	$ 303	$ 773	$ (1,750)
State tax expense (benefit)	0.29%	1.14%	(3.06%)
Valuation allowance	$ 416	$ 191	$ 2,199
Valuation allowance, percent	0.40%	0.28%	3.85%
Other	$ 269	$ (1)	$ (101)
Other, percent	0.26%	0%	(0.18%)
Income tax expense (benefit)	$ 24,441	$ 15,381	$ 11,291
Income tax expense (benefit), percent	23.58%	22.77%	19.76%

Note 17 - Earnings Per Share -

Note 17 - Earnings Per Share - Earnings Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net income	$ 79,201	$ 52,170	$ 45,847
Basic (in shares)	24,822,004	25,243,397	25,459,514
Common Share equivalents (in shares)	505,087	552,611	652,390
Diluted (in shares)	25,327,091	25,796,008	26,111,904
Basic earnings per share (in dollars per share)	$ 3.19	$ 2.07	$ 1.8
Diluted earnings per share (in dollars per share)	$ 3.13	$ 2.02	$ 1.76

Note 18 - Statutory Financial_3

Note 18 - Statutory Financial Information (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 439,264	$ 314,508	$ 271,977
Statutory Accounting Practices, Statutory Net Income Amount	97,391	76,222	51,410
Equity, Attributable to Parent	471,252	384,754
BERMUDA
Minimum Statutory Solvency Margin	1,200	1,200
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	16,100	15,600
Statutory Accounting Practices, Statutory Net Income Amount	300	200	$ 1,400
Equity, Attributable to Parent	16,300	$ 15,500
Dividends Received from Subsidiary	$ 0
BERMUDA | Minimum [Member]
Liquidity Ratio	75%

Note 18 - Statutory Financial_4

Note 18 - Statutory Financial Information - Schedule of Statutory Net Income and Statutory Capital Surplus (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statutory net income (loss)	$ 97,391	$ 76,222	$ 51,410
Statutory capital and surplus	$ 439,264	$ 314,508	$ 271,977

Note 19 - Dividend Restrictio_2

Note 19 - Dividend Restrictions (Details Textual) $ in Millions	Dec. 31, 2023 USD ($)
Threshold Dividend or Distribution without Approval of Oregon and California Insurance Commissioners	$ 96
Palomar Specialty Reinsurance Company Bermuda Ltd [Member]
Dividends And Return On Capital Receivable	$ 4.1

Note 20 - Commitments and Con_2

Note 20 - Commitments and Contingencies (Details Textual) $ in Millions	Dec. 31, 2023 USD ($)
Trust, Par Value	$ 9.2
Standby Letters of Credit [Member]
Loss Contingency, Estimate of Possible Loss	$ 3.9

Note 21 - Variable Interest E_2

Note 21 - Variable Interest Entities ("VIEs") (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Premiums Earned, Net	$ 345,913	$ 316,466	$ 233,826
Assets	1,708,022	1,306,450
Liabilities	1,236,770	$ 921,696
Variable Interest Entity, Not Primary Beneficiary [Member]
Premiums Earned, Net	100
Policyholder Benefits and Claims Incurred, Net	0
Assets	16,400
Cash, Cash Equivalents, and Short-Term Investments	15,100
Liabilities	16,900
Long-Term Debt	15,000
Variable Interest Entity, Not Primary Beneficiary [Member] | PSIC [Member]
Debt Instrument, Face Amount	$ 15,000

Note 22 - Subsequent Events - M

Note 22 - Subsequent Events - Monthly Payments on Lease (Details) - Subsequent Event [Member] - Office in La Jolla, California [Member] $ in Thousands	Feb. 09, 2024 USD ($)
Months 1-12:	$ 71
Months 13-24:	76
Months 25-36:	105
Months 37-48:	108
Months 49-60:	112
Months 61-72:	115
Months 73-84:	119
Months 85-96:	122
Months 97-108:	126
Months 109-120:	$ 129

Schedule II - Condensed Finan_3

Schedule II - Condensed Financial Information of Parent - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	$ 643,799	$ 515,064
Equity securities, at fair value: (cost: $1,725 in 2023, $1,725 in 2022)	43,160	38,576
Equity method investment	2,617	0
Total investments	689,576	553,640
Cash and cash equivalents	51,546	68,108
Accrued investment income	5,282	3,777
Prepaid expenses and other assets	72,941	44,088
Total assets	1,708,022	1,306,450
Liabilities:
Accounts payable and other liabilities	42,376	25,760
Total liabilities	1,236,770	921,696
Stockholders' equity:
Common stock, $0.0001 par value, 500,000,000 shares authorized, 24,772,987 and 25,027,467 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively	3	3
Additional paid-in capital	350,597	333,558
Accumulated other comprehensive income (loss)	(23,991)	(36,515)
Retained earnings	144,643	87,708
Total stockholders' equity	471,252	384,754
Total liabilities and stockholders' equity	1,708,022	1,306,450
Parent Company [Member]
Assets
Fixed maturity securities available for sale, at fair value (amortized cost: $51,946 in 2023, $51,993 in 2022)	48,626	45,511
Equity securities, at fair value: (cost: $1,725 in 2023, $1,725 in 2022)	1,835	1,626
Equity method investment	2,617	0
Total investments	53,078	47,137
Cash and cash equivalents	314	781
Accrued investment income	345	320
Prepaid expenses and other assets	3,780	2,267
Note receivable from subsidiary	15,000	0
Investment in subsidiaries	530,690	405,525
Total assets	655,174	459,719
Liabilities:
Accounts payable and other liabilities	10,120	7,359
Federal income tax payable	16,398	10,282
Total liabilities	183,922	74,965
Stockholders' equity:
Common stock, $0.0001 par value, 500,000,000 shares authorized, 24,772,987 and 25,027,467 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively	3	3
Additional paid-in capital	350,597	333,557
Accumulated other comprehensive income (loss)	(23,991)	(36,514)
Retained earnings	144,643	87,708
Total stockholders' equity	471,252	384,754
Total liabilities and stockholders' equity	655,174	459,719
Parent Company [Member] | Related Party [Member]
Assets
Receivables from subsidiaries	51,967	3,689
Liabilities:
Payables to subsidiaries	$ 157,404	$ 57,324

Schedule II - Condensed Finan_4

Schedule II - Condensed Financial Information of Parent - Balance Sheets (Details) (Parentheticals) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Equity Securities, Cost	$ 43,003	$ 42,352
Common Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized (in shares)	500,000,000	500,000,000
Common Stock, Shares, Issued (in shares)	24,772,987	25,027,467
Common Stock, Shares, Outstanding (in shares)	24,772,987	25,027,467
Parent Company [Member]
Fixed maturities securities, amortized cost	$ 51,946	$ 51,993
Equity Securities, Cost	$ 1,725	$ 1,725
Common Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized (in shares)	500,000,000	500,000,000
Common Stock, Shares, Issued (in shares)	24,772,987	25,027,467
Common Stock, Shares, Outstanding (in shares)	24,772,987	25,027,467

Schedule II - Condensed Finan_5

Schedule II - Condensed Financial Information of Parent Company - Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net investment income	$ 23,705	$ 13,877	$ 9,080
Net realized and unrealized gains (losses) on investments	2,941	(7,529)	1,277
Total revenues	375,926	327,086	247,791
Other operating expenses	272,284	259,535	190,653
Income before income taxes	103,642	67,551	57,138
Income tax expense	24,441	15,381	11,291
Net income	79,201	52,170	45,847
Net unrealized gains (losses) on securities available for sale	12,524	(41,827)	(7,934)
Total comprehensive income	91,725	10,343	37,913
Parent Company [Member]
Net investment income	1,699	1,048	555
Net realized and unrealized gains (losses) on investments	(209)	(320)	217
Total revenues	1,490	728	772
Other operating expenses	39,347	33,292	19,480
Income before income taxes	(37,857)	(32,564)	(18,708)
Income tax expense	(7,953)	(8,464)	11,039
Loss before equity in net income of subsidiaries	(29,904)	(24,100)	(29,747)
Equity in net income of subsidiaries	109,105	76,270	75,594
Net income	79,201	52,170	45,847
Net unrealized gains (losses) on securities available for sale	(2,505)	(3,997)	580
Equity in other comprehensive income (loss) of subsidiaries, net of taxes	15,029	(37,830)	(8,514)
Total comprehensive income	$ 91,725	$ 10,343	$ 37,913

Schedule II - Condensed Finan_6

Schedule II - Condensed Financial Information of Parent Company - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net income	$ 79,201	$ 52,170	$ 45,847
Stock-based compensation expense	14,913	11,624	5,584
Net realized and unrealized losses (gains) on investments	(2,941)	7,529	(1,277)
Amortization of premium on fixed maturity securities	(9)	1,607	2,317
Deferred	(2,826)	(3,461)	641
Net cash provided by operating activities	116,106	169,583	87,814
Purchases of fixed maturity securities	(233,770)	(382,114)	(166,894)
Sales and maturities of fixed maturity securities	120,285	242,726	120,198
Net cash used in investing activities	(128,478)	(156,807)	(58,188)
Proceeds from common stock issued via employee stock purchase plan	799	760	719
Policy holder contribution to surplus	90	0	0
Repurchase of common stock	(22,266)	(34,415)	(15,852)
Net cash (used in) provided by financing activities	(3,940)	5,017	(13,041)
Net (decrease) increase in cash, cash equivalents and restricted cash	(16,312)	17,793	16,585
Cash and cash equivalents at beginning of period	68,164
Cash and cash equivalents at end of period	51,852	68,164
Cash paid for income taxes	21,124	18,890	2,104
Cash paid for interest	3,682	704	0
Parent Company [Member]
Net income	79,201	52,170	45,847
Equity in undistributed earnings of subsidiaries	(109,105)	(76,270)	(75,594)
Stock-based compensation expense	10,426	8,820	4,755
Net realized and unrealized losses (gains) on investments	209	320	(217)
Amortization of premium on fixed maturity securities	189	347	443
Deferred	2,787	7,210	634
Changes in operating assets and liabilities:	37,777	36,449	13,596
Net cash provided by operating activities	21,484	29,046	(10,536)
Purchases of fixed maturity securities	(11,045)	(9,807)	(2,177)
Sales and maturities of fixed maturity securities	9,232	8,488	11,396
Cash paid to subsidiaries	0	0	(15,595)
Cash received from subsidiaries	0	0	27,100
Net cash used in investing activities	(1,813)	(1,319)	20,724
Proceeds from common stock issued via employee stock purchase plan	2,038	3,032	2,811
Policy holder contribution to surplus	90	0	0
Repurchase of common stock	(22,266)	(34,415)	(15,852)
Net cash (used in) provided by financing activities	(20,138)	(31,383)	(13,041)
Net (decrease) increase in cash, cash equivalents and restricted cash	(467)	(3,656)	(2,853)
Cash and cash equivalents at beginning of period	781	4,437	7,290
Cash and cash equivalents at end of period	314	781	4,437
Cash paid for income taxes	21,124	18,890	2,104
Cash paid for interest	$ 3,682	$ 704	$ 0

Schedule V - Valuation and Qu_3

Schedule V - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
Valuation Allowance	$ 3,070	$ 2,879
Valuation allowance, additions	416	191
Valuation allowance, deductions	0	0
Valuation Allowance	3,486	3,070
SEC Schedule, 12-09, Allowance, Uncollectible Premium Receivable [Member]
Valuation Allowance	96	315
Valuation allowance, additions	42	188
Valuation allowance, deductions	89	407
Valuation Allowance	$ 49	$ 96