Trean Insurance 10-K 26 Mar 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 19, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-39392
Entity Registrant Name	TREAN INSURANCE GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-4512647
Entity Address, Address Line One	150 Lake Street West
Entity Address, City or Town	Wayzata
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55391
City Area Code	952
Local Phone Number	974-2200
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	TIG
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		51,148,782
Documents Incorporated by Reference	Portions of the registrant's definitive Proxy Statement for its 2021 Annual Meeting of Stockholders are incorporated by reference in Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0001801754

Consolidated and Combined Balan

Consolidated and Combined Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments [Abstract]
Fixed maturities, at fair value (amortized cost of $388,409 and $329,640, respectively)	$ 405,604	$ 337,865
Equity securities, FV-NI	3,774	835
Equity method investments	232	12,173
Total investments	409,610	350,873
Cash and cash equivalents	153,149	74,268
Restricted cash	4,085	1,800
Accrued investment income	2,458	2,468
Premiums and other receivables	109,217	62,460
Income taxes receivable	1,322	0
Related party receivables	0	22,221
Reinsurance recoverable	343,213	307,338
Prepaid reinsurance premiums	107,971	80,088
Deferred policy acquisition cost, net	1,332	2,115
Property and equipment, net	8,254	7,937
Right of use asset	6,338
Deferred tax asset, net	0	1,367
Goodwill	140,640	2,822
Intangible assets, net	75,316	154
Other assets	6,878	3,123
Total assets	1,369,783	919,034
Liabilities
Total liability for unpaid loss and loss adjustment expenses	457,817	406,716
Unearned premiums	157,987	103,789
Funds held under reinsurance agreements	174,704	163,445
Reinsurance premiums payable	57,069	53,620
Accounts payable and accrued expenses	61,240	14,995
Lease liability	6,893
Income taxes payable	0	714
Deferred tax liability, net	12,329	0
Debt	31,637	29,040
Total liabilities	959,676	772,319
Commitments and contingencies
Redeemable preferred stock (0 and 1,000,000 authorized, respectively; 0 and 51 outstanding, respectively)	0	5,100
Stockholders' equity
Common stock, $0.01 par value per share (600,000,000 and 0 authorized, respectively; 51,148,782 and 0 issued and outstanding, respectively)	511
Members' equity		78,438
Additional paid-in capital	287,110	17,995
Retained earnings	112,959	40,361
Accumulated other comprehensive income	9,527	4,821
Total stockholders' equity	410,107
Total stockholders' equity		141,615
Total liabilities and stockholders' equity	1,369,783	919,034
Preferred Stock
Investments [Abstract]
Equity securities, FV-NI	240	343
Common Stock
Investments [Abstract]
Equity securities, FV-NI	$ 3,534	$ 492

Consolidated and Combined Bal_2

Consolidated and Combined Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Amortized cost	$ 388,409	$ 329,640
Equity securities, cost	$ 1,797	$ 829
Redeemable preferred stock authorized (in shares)	0	1,000,000
Redeemable preferred stock outstanding (in shares)	0	51	60	50
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	600,000,000	0
Common stock, issued (in shares)	51,148,782	0
Common stock, outstanding (in shares)	51,148,782	0
Preferred Stock
Equity securities, cost	$ 243	$ 337
Common Stock
Equity securities, cost	$ 1,554	$ 492

Consolidated and Combined State

Consolidated and Combined Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Gross written premiums	$ 484,249	$ 411,401	$ 357,007
Increase in gross unearned premiums	(52,215)	(13,598)	(16,862)
Gross earned premiums	432,034	397,803	340,145
Ceded earned premiums	(323,567)	(311,325)	(273,569)
Net earned premiums	108,467	86,478	66,576
Net investment income	8,324	6,245	4,816
Gain on revaluation of Compstar investment	69,846	0	0
Net realized capital gains (losses)	3,365	667	(715)
Other revenue	12,104	9,125	7,826
Total revenue	202,106	102,515	78,503
Expenses
Losses and loss adjustment expenses	50,774	44,661	35,729
General and administrative expenses	38,668	20,959	15,679
Other expenses	13,427	0	0
Intangible asset amortization	2,573	46	27
Noncash stock compensation	506	0	0
Interest expense	1,922	2,169	1,557
Total expenses	107,870	67,835	52,992
Other income	1,025	121	639
Income before taxes	95,261	34,801	26,150
Income tax expense	6,825	7,074	5,546
Equity earnings (losses) in affiliates, net of tax	2,333	3,558	(1,082)
Net income	$ 90,769	$ 31,285	$ 19,522
Earnings per share:
Basic (in dollars per share)	$ 2.08	$ 0.84	$ 0.52
Diluted (in dollars per share)	$ 2.07	$ 0.84	$ 0.52
Weighted average shares outstanding:
Weighted average number of shares outstanding - basic (in shares)	43,744,003	37,386,394	37,386,394
Weighted average number of shares outstanding - diluted (in shares)	43,744,744	37,386,394	37,386,394

Consolidated and Combined Sta_2

Consolidated and Combined Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 90,769	$ 31,285	$ 19,522
Unrealized investment gains (losses):
Unrealized investment gains (losses) arising during the period	6,218	8,708	(3,964)
Income tax expense (benefit)	1,313	1,831	(832)
Unrealized investment gains (losses), net of tax	4,905	6,877	(3,132)
Less reclassification adjustments to:
Net realized investment gains (losses) included in net realized capital gains (losses)	252	67	(225)
Income tax expense (benefit)	53	14	(47)
Total reclassifications included in net income, net of tax	199	53	(178)
Other comprehensive income (loss)	4,706	6,824	(2,954)
Total comprehensive income	$ 95,475	$ 38,109	$ 16,568

Consolidated and Combined Sta_3

Consolidated and Combined Statements of Stockholders’ Equity and Redeemable Preferred Stock - USD ($) $ in Thousands	Total	Compstar Holding Company LLC	Initial Public Offering	Series A Preferred Stock	Series B Preferred Stock	Common Stock	Common StockCompstar Holding Company LLC	Common StockInitial Public Offering	Common StockClass A - Non Voting	Common StockClass B - Voting	Common StockClass B - Non Voting	Common StockClass C - Non Voting	Additional Paid in Capital	Additional Paid in CapitalCompstar Holding Company LLC	Additional Paid in CapitalInitial Public Offering	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Deficit)	Retained Earnings (Deficit)Series A Preferred Stock	Retained Earnings (Deficit)Series B Preferred Stock	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, AdjustmentRetained Earnings (Deficit)
Preferred Stock
Cumulative effect of adopting ASC Topic 606	$ 92,165								$ 65,037	$ 5,045	$ 8,160	$ 39	$ 17,995			$ 951	$ (8,062)
Redeemable preferred stock beginning balance (in shares) at Dec. 31, 2017	50
Redeemable preferred stock beginning balance at Dec. 31, 2017	$ 5,000
Redeemable Preferred Stock
Issuance of Preferred Stock (in shares)					10							78,636
Issuance of Preferred Stock	79				$ 1,000							$ 79
Redemption of Series Redeemable Preferred Stock (in shares)				(20)
Redemption of Series Redeemable Preferred Stock	$ (2,000)			$ (2,000)
Redeemable preferred stock ending balance (in shares) at Dec. 31, 2018	60
Redeemable preferred stock ending balance at Dec. 31, 2018	$ 6,000
Preferred stock beginning balance (in shares) at Dec. 31, 2017	30
Preferred stock beginning balance at Dec. 31, 2017	$ 3,000
Preferred Stock
Redemption of Series Redeemable Preferred Stock (in shares)				(20)
Redemption of Series Redeemable Preferred Stock	$ (2,000)			$ (2,000)
Preferred stock ending balance (in shares) at Dec. 31, 2018	10
Preferred stock ending balance at Dec. 31, 2018	$ 1,000
Beginning balance (in shares) at Dec. 31, 2017									65,036,780	5,045,215	8,159,775	39,317
Members' equity beginning balance at Dec. 31, 2017	92,165								$ 65,037	$ 5,045	$ 8,160	$ 39	17,995			951	(8,062)
Preferred Stock
Cumulative effect of adopting ASC Topic 606	105,131								$ 65,037	$ 5,045	$ 8,160	$ 118	17,995			(2,003)	9,779			$ 695	$ 695
Shares issued during period (in shares)					10							78,636
Shares issued during period	79				$ 1,000							$ 79
Distributions to members	(1,456)																(1,456)
Dividends paid on Series preferred stock				(45)	$ (180)													$ (45)	$ (180)
Redemption of Series Redeemable Preferred Stock	(2,000)			$ (2,000)
Stock compensation expense	0
Other comprehensive income (loss)	(2,954)															(2,954)
Net income	19,522																19,522
Ending balance (in shares) at Dec. 31, 2018									65,036,780	5,045,215	8,159,775	117,953
Members' equity ending balance at Dec. 31, 2018	105,131								$ 65,037	$ 5,045	$ 8,160	$ 118	17,995			(2,003)	9,779			695	695
Stockholders' equity ending balance at Dec. 31, 2018																(2,003)
Preferred Stock
Cumulative effect of adopting ASC Topic 606	105,131								65,037	5,045	8,160	$ 118	17,995			(2,003)	9,779			695	695
Issuance of Preferred Stock (in shares)												78,635
Issuance of Preferred Stock	78											$ 78
Redemption of Series Redeemable Preferred Stock (in shares)				(10)	(9)
Redemption of Series Redeemable Preferred Stock	$ (1,000)			$ (1,000)	$ (900)
Redeemable preferred stock ending balance (in shares) at Dec. 31, 2019	51
Redeemable preferred stock ending balance at Dec. 31, 2019	$ 5,100
Preferred Stock
Redemption of Series Redeemable Preferred Stock (in shares)				(10)	(9)
Redemption of Series Redeemable Preferred Stock	$ (1,000)			$ (1,000)	$ (900)
Preferred stock ending balance (in shares) at Dec. 31, 2019	0
Preferred stock ending balance at Dec. 31, 2019	$ 0
Preferred Stock
Accounting standards update	Accounting Standards Update 2014-09
Cumulative effect of adopting ASC Topic 606	$ 141,615					$ 0			$ 65,037	$ 5,045	$ 8,160	$ 196	17,995			4,821	40,361			$ 695	$ 695
Shares issued during period (in shares)												78,635
Shares issued during period	78											$ 78
Distributions to members	(1,144)																(1,144)
Dividends paid on Series preferred stock				(43)	(211)													$ (43)	(211)
Redemption of Series Redeemable Preferred Stock	(1,000)			$ (1,000)	$ (900)
Stock compensation expense	0
Other comprehensive income (loss)	6,824															6,824
Net income	$ 31,285																31,285
Ending balance (in shares) at Dec. 31, 2019	0					0			65,036,780	5,045,215	8,159,775	196,588
Members' equity ending balance at Dec. 31, 2019	$ 141,615					$ 0			$ 65,037	$ 5,045	$ 8,160	$ 196	17,995			4,821	40,361
Stockholders' equity ending balance at Dec. 31, 2019																4,821
Preferred Stock
Cumulative effect of adopting ASC Topic 606	141,615					0			65,037	5,045	8,160	$ 196	17,995			4,821	40,361
Issuance of Preferred Stock (in shares)								7,142,857				196,587
Issuance of Preferred Stock	$ 197		$ 93,139					$ 71				$ 197			$ 93,068
Redemption of Series Redeemable Preferred Stock (in shares)					(51)
Redemption of Series Redeemable Preferred Stock					$ (5,100)
Redeemable preferred stock ending balance (in shares) at Dec. 31, 2020	0
Redeemable preferred stock ending balance at Dec. 31, 2020	$ 0
Preferred Stock
Redemption of Series Redeemable Preferred Stock (in shares)					(51)
Redemption of Series Redeemable Preferred Stock					$ (5,100)
Cumulative effect of adopting ASC Topic 606	141,615					$ 0			$ 65,037	$ 5,045	$ 8,160	$ 196	17,995			4,821	40,361
Shares issued during period (in shares)								7,142,857				196,587
Shares issued during period	197		$ 93,139					$ 71				$ 197			$ 93,068
Distributions to members	(19,819)												(1,776)				(18,043)
Dividends paid on Series preferred stock					(128)														$ (128)
Redemption of Series Redeemable Preferred Stock					$ (5,100)
Corporate recapitalization (in shares)						37,386,394			(65,036,780)	(5,045,215)	(8,159,775)	(393,175)
Corporate recapitalization	0					$ 374			$ (65,037)	$ (5,045)	$ (8,160)	$ (393)	78,261
Issuance of common shares for acquisition of Compstar (in shares)							6,613,606
Issuance of common shares for acquisition of Compstar	99,204	$ 99,204					$ 66							$ 99,138
Common stock issuances pursuant to equity compensation awards (in shares)						5,925
Common stock issuances pursuant to equity compensation awards	(82)												(82)
Stock compensation expense	506												506
Other comprehensive income (loss)	4,706															4,706
Net income	$ 90,769	$ 1,989															90,769
Ending balance (in shares) at Dec. 31, 2020	51,148,782					51,148,782			0	0	0	0
Stockholders' equity ending balance at Dec. 31, 2020	$ 410,107					$ 511			$ 0	$ 0	$ 0	$ 0	$ 287,110			$ 9,527	$ 112,959

Consolidated and Combined Sta_4

Consolidated and Combined Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net income	$ 90,769	$ 31,285	$ 19,522
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	3,485	876	497
Stock compensation	506	0	0
Net capital (gains) losses on investments	(5,155)	(76)	225
Forgiveness of PPP loan	(325)	0	0
Deferred offering costs	0	(411)	0
Gain on bargain purchase of subsidiary	0	(634)	0
Loss on disposal of subsidiary	0	34	0
Net realized losses on sale of building	0	0	619
Gain on revaluation of Compstar investment	(69,846)	0	0
Bond amortization and accretion	1,915	1,713	1,957
Issuance of member units as compensation	197	78	79
Equity losses (earnings) in affiliates, net of tax	(2,333)	(3,558)	1,082
Distributions from equity method investments	2,953	5,489	2,852
Deferred income taxes	(445)	(1,118)	(71)
Deferred financing costs	132	101	76
Changes in operating assets and liabilities:
Accrued investment income	17	(56)	567
Premiums and other receivables	(18,499)	(4,777)	(13,862)
Reinsurance recoverable on paid and unpaid losses	(30,805)	(49,829)	(50,776)
Prepaid reinsurance premiums	(26,963)	(13,323)	(10,881)
Right of use asset	(5,121)
Other assets	4,459	631	(769)
Unpaid loss and loss adjustment expenses	42,985	59,874	62,744
Unearned premiums	50,367	12,712	16,450
Funds held under reinsurance agreements	7,861	2,631	35,826
Reinsurance premiums payable	3,449	12,448	4,899
Accounts payable and accrued expenses	(2,976)	(639)	3,647
Lease liability	5,371
Income taxes payable	(1,986)	(1,278)	583
Net cash provided by operating activities	50,012	52,173	75,266
Investing activities
Payments for capital expenditures	(807)	(633)	(3,218)
Proceeds from sale of property and equipment	0	0	2,296
Proceeds from sale of equity method investment	3,000	0	0
Return of capital on equity method investment	115	0	0
Purchase of investments, available for sale	(129,233)	(89,171)	(124,571)
Proceeds from investments sold, matured or repaid	105,322	71,357	65,518
Purchase of investments, equity method	0	0	(17,798)
Acquisition of subsidiary, net of cash received	(10,534)	(5,496)	(786)
Cash received in the acquisition of Compstar	11,891	0	0
Net cash used in investing activities	(20,246)	(23,943)	(78,559)
Financing activities
Shares redeemed for payroll taxes	(82)	0	0
Proceeds from initial public offering	99,643	0	0
Deferred offering costs	(5,839)	0	0
Proceeds from credit agreement	32,453	0	26,994
Principal payments on debt	(49,728)	(4,832)	(10,031)
Proceeds from issuance of preferred shares	0	0	1,000
Buyback of preferred shares	(5,100)	(1,900)	(2,000)
Distributions to members	(19,819)	(1,144)	(1,456)
Dividends paid on preferred stock	(128)	(249)	(225)
Net cash provided by (used in) financing activities	51,400	(8,125)	14,282
Net increase in cash, cash equivalents and restricted cash	81,166	20,105	10,989
Cash, cash equivalents and restricted cash ‑ beginning of period	76,068	55,963	44,974
Cash, cash equivalents and restricted cash ‑ end of period	157,234	76,068	55,963
Disaggregation of cash and restricted cash:
Total cash, cash equivalents and restricted cash	76,068	76,068	44,974
Supplemental disclosure of cash flow information:
Interest	1,790	2,068	2,004
Income taxes	9,259	$ 9,137	4,962
Right-of-use assets obtained in exchange for new operating lease liabilities	8,536
Shares issued for the acquisition of subsidiary	99,204
Accrued purchases of property and equipment	132
Accrued shares subject to mandatory redemption			$ 770
Operating cash flows from operating leases	$ 2,101

Business and Basis of Presentat

Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation In July 2020, Trean Insurance Group, Inc. (together with its wholly owned subsidiaries, the Company) completed its initial public offering (IPO) of common stock. Prior to the completion of the IPO, the Company effected the following reorganization transactions: (i) each of Trean Holdings LLC (Trean), an insurance services company, and BIC Holdings LLC (BIC), a property and casualty insurance holding company, contributed all of their respective assets and liabilities to Trean Insurance Group, Inc., a newly formed direct subsidiary of BIC, in exchange for shares of common stock in Trean Insurance Group, Inc. and (ii) upon the completion of the transfers by Trean and BIC, Trean and BIC were dissolved and distributed in-kind common shares to the pre-IPO unitholders. For the purpose of financial statement disclosures, references to the consolidated financial statements for all post-IPO periods include the accounts of Trean Insurance Group, Inc., along with its wholly owned subsidiaries, after elimination of intercompany accounts and transactions. References to the consolidated financial statements for all pre-IPO periods include the combined financial statements of BIC and Trean, along with their wholly owned subsidiaries, after elimination of intercompany accounts and transactions. The Company provides products and services to the specialty insurance market. Historically, the Company has focused on specialty casualty markets that are believed to be under served and where the Company’s expertise allows the Company to achieve higher rates, such as niche workers' compensation markets and small- to medium-sized specialty casualty insurance programs. The Company underwrites specialty-casualty insurance products both through programs where the Company partners with other organizations (Program Partners), and also through the Company’s own managing general agencies (Owned MGAs). The Company also provides Program Partners with a variety of services, including issuing carrier services, claims administration, and reinsurance brokerage from which the Company generates fee-based revenues. The Company's wholly owned subsidiaries include (a) Benchmark Holding Company, a property and casualty insurance holding company, which owns Benchmark Insurance Company (Benchmark), a property and casualty insurance company domiciled in the state of Kansas, American Liberty Insurance Company (ALIC), a property and casualty insurance company domiciled in the state of Utah, and 7710 Insurance Company, a property and casualty insurance company domiciled in the state of South Carolina; (b) Trean Compstar Holdings, LLC, a limited liability company created originally for the purchase of Compstar Insurance Services LLC, a California-based general agency; and (c) Trean Corporation (Trean Corp), a reinsurance intermediary manager and a managing general agent, which consists of the following wholly owned subsidiaries: Trean Reinsurance Services, LLC (TRS), a reinsurance intermediary broker; Benchmark Administrators LLC (BIC Admin), a claims third-party administrator; and Westcap Insurance Services, LLC (Westcap), a managing general agent based in California. The accompanying consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) and with the instructions to Form 10-K under the Securities Exchange Act of 1934. All dollar amounts are shown in thousands, except share and per share amounts. Use of estimates While preparing the consolidated financial statements, the Company has made certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements, as well as reported amounts of revenue and expenses during the reporting period. Accordingly, actual results could differ from those estimates. Reported amounts that require extensive use of estimates include the reserves for unpaid losses and loss adjustment expenses (LAE), reinsurance recoverables, investments, goodwill and intangible assets. Except for the captions on the consolidated balance sheets and consolidated statements of comprehensive income, generally, the term loss(es) is used to collectively refer to both losses and LAE. Accounting pronouncements Recently adopted policies In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (ASU 2020-04). This update provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. This standard is effective for the period between March 12, 2020 and December 31, 2022. The adoption of this standard did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (ASU 2018-13). This update modifies the existing requirements on fair value measurements in Topic 820 by changing the disclosure requirements regarding Level 1, Level 2 and Level 3 investments. The Company adopted this standard effective January 1, 2020 on a prospective basis. The adoption of this standard did not have a material impact on the consolidated financial statements. In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10). The amendments in this ASU provide clarification on certain aspects related to the guidance issued in ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The areas for correction or improvement include (1) equity securities without a readily determinable fair value - discontinuation; (2) equity securities without a readily determinable fair value - adjustments; (3) forward contracts and purchased options; (4) presentation requirements for certain fair value option liabilities; (5) fair value option liabilities denominated in a foreign currency; and (6) transition guidance for equity securities without a readily determinable fair value. The Company adopted this standard effective January 1, 2019 on a prospective basis. The adoption of this standard did not have a material impact on the consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . This update clarifies the definition of a business when evaluating whether transactions should be accounted for as an acquisition (or disposal) of a business or assets. The Company adopted this standard effective January 1, 2019. The adoption of this standard did not have a material impact on the consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (ASU 2017-04). This update simplifies the manner in which an entity is required to test goodwill for impairment. ASU 2017-04 is effective for annual periods beginning after December 15, 2021, including interim periods thereafter, with early adoption permitted. The Company has elected to early adopt this standard effective January 1, 2020. Adoption of this standard did not have a material impact on the consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016‑02, Leases (Topic 842) (ASU 2016-02), which provides guidance for accounting for leases. The new guidance requires companies to recognize the assets and liabilities for the rights and obligations created by leased assets, initially measured at the present value of lease payments. Management adopted this standard effective January 1, 2020 under the modified retrospective approach. Adoption of this standard resulted in the Company recognizing initial right-of-use assets of $5,946 and initial lease liabilities of $5,946 and did not result in a cumulative effect adjustment on retained earnings. The adoption of this standard did not have a material impact on the consolidated statements of operations or consolidated statements of cash flows. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). This update substantially revises standards for the recognition, measurement and presentation of financial instruments. This standard revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. This requires the change in the value of equity securities to be reflected within the Company’s net income. The standard also amends certain disclosure requirements associated with the fair value of financial instruments. The Company adopted this standard effective January 1, 2019. The adoption of this standard did not have a material impact on the consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) of the Accounting Standards Codification (ASC). Insurance contracts are excluded from the scope of this guidance. The core principle of ASC Topic 606 is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration the entity receives or expects to receive. The Company adopted this standard effective January 1, 2019 using the modified retrospective approach to all contracts. The cumulative effect of adopting the standard resulted in an increase to the opening balance of retained earnings of $695, with offsetting changes to other assets and deferred tax asset. The cumulative effect adjustment recorded to other assets is related to the recording of brokerage revenue. Under ASC Topic 606, the Company is required to estimate the full contractual revenues at contract inception, subject to a constraint, which resulted in accelerated revenue recognition versus the previous revenue recognition patterns. The 2018 comparative period information was not restated and will continue to be reported under the legacy accounting standards that were in effect for those periods. The impact of adopting ASC Topic 606 on the Company’s consolidated statement of operations is summarized as follows: Year Ended December 31, 2019 Legacy GAAP ASC Topic 606 Impact As Reported Other revenue $ 8,925 $ 200 $ 9,125 Total revenue 102,315 200 102,515 Income before taxes 34,601 200 34,801 Income tax expense 7,028 46 7,074 Net income $ 31,131 $ 154 $ 31,285 The impact of adopting ASC Topic 606 on the Company's consolidated balance sheet is summarized as follows: December 31, 2019 Legacy GAAP ASC Topic 606 Impact As Reported Assets Deferred tax asset $ 1,621 $ (254) $ 1,367 Other assets 2,020 1,103 3,123 Members' Equity Retained earnings $ 39,512 $ 849 $ 40,361 The impact on the Company’s consolidated balance sheet as of January 1, 2019 related to the adoption of ASC Topic 606 using the modified retrospective approach as discussed above is as follows: Adjustments December 31, 2018 ASC Topic 606 January 1, 2019 Assets Deferred tax asset $ 1,823 $ (208) $ 1,615 Other assets 1,963 903 2,866 Members' Equity Retained earnings $ 9,779 $ 695 $ 10,474 In November 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-18, Restricted Cash , which amended Statement of Cash Flows (Topic 230) of the Accounting Standards Codification. ASC Topic 230 requires amounts generally described as restricted cash and restricted cash equivalents to be included within cash and cash equivalents in the consolidated statement of cash flows. During 2018, the Company elected to adopt this standard effective January 1, 2018. The adoption did not have a material effect on the consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, Topic 220 (ASU 2018-02), which amends ASC Topic 220 and ASC Topic 740 by addressing the amounts included within Accumulated Other Comprehensive Income ("AOCI") which may result from the enactment of the 2017 Tax Act. Though AOCI is presented on a net-of-tax basis, ASC Topic 740 requires that the effects of new tax laws on items in AOCI be recognized without a corresponding adjustment to AOCI and instead recorded in income tax expense. ASU 2018-02 permits amounts included within AOCI specifically resulting from the 2017 Tax Act to be removed from AOCI and reclassified to retained earnings. During 2018, the Company elected to adopt this standard effective January 1, 2018. The adoption did not have a material effect on the consolidated financial statements. Pending policies The Company completed its IPO in July 2020, and is an emerging growth company as defined under federal securities laws. As such, the Company has elected to adopt pending accounting policies under the dates required for private companies. Therefore, the dates included within this section reflect the effective dates for the adoption of new accounting policies required by private companies. In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments (ASU 2020-03). This update represents changes to clarify and improve the codification to allow for easier application by eliminating inconsistencies and providing clarification on items such as (i) the application of fair value option disclosures; (ii) the accounting for fees related to modifications of debt; and (iii) aligning the contractual term of a net investment in a lease in accordance with ASC Topic 326, Financial Instruments - Credit Losses , and the lease term determined in accordance with ASC Topic 842, Leases . Certain issues addressed in this update are effective for annual periods beginning after December 15, 2020 and others are effective for annual periods beginning after December 15, 2022. The Company will adopt each standard upon their respective effective dates of January 1, 2021 and January 1, 2023. Adoption of this standard is not expected to have a material impact on the consolidated financial statements. In January 2020, the FASB issued ASU No. 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivative and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323 and Topic 815 (ASU 2020-01). This update addresses the accounting for certain equity securities upon the application or discontinuation of the equity method of accounting. Further, the update addresses scope considerations for forward contracts and purchased options on certain securities. ASU 2020-01 is effective for annual periods beginning after December 15, 2021, including interim periods thereafter. The Company will adopt this standard effective January 1, 2022. Adoption of this standard is not expected to have a material impact on the consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments (ASU 2016-13). This update requires financial assets measured at amortized cost to be presented at the net amount expected to be collected by means of an allowance for credit losses that runs through net income. Additionally, credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses, with the amount of the allowance limited to the amount by which the fair value is below the amortized cost. ASU 2016-13 is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. The Company will adopt this standard effective January 1, 2023. The Company is currently evaluating the impact of this standard on the consolidated financial statements.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Cash and cash equivalents: Cash and cash equivalents consist of all cash accounts, money market investments, and investments with maturities, at the time of acquisition, of 90 days or less. These amounts are carried at cost, which approximates fair value. Although the Company maintains its cash accounts in a limited number of commercial banks, management of the Company believes it is not exposed to any significant credit risk on cash and short-term investments. Restricted cash of $4,085 and $1,800 represents fiduciary funds held for other companies as of December 31, 2020 and 2019, respectively. There is a corresponding obligation to the other companies included in accounts payable and accrued expenses as of December 31, 2020 and 2019 (Note 11). Investments: Investment securities, consisting of fixed maturities, are classified as available-for-sale and reported at fair value. The change in unrealized gain and loss on fixed maturity investments is recorded as a component of accumulated other comprehensive income in the consolidated balance sheets, net of the related deferred tax effect, until realized. The change in unrealized gain and loss on equity securities is recorded as a component of net income and is included in net investment income on the consolidated statements of operations. Realized gains and losses from the sale of available-for-sale securities are determined on a specific-identification basis and included in net realized capital gains (losses) on the consolidated statement of operations on the trade date. The Company amortizes any premium or discount on fixed maturities over the remaining maturity period of the related securities and reports the amortization in net investment income. Dividend and interest income is recognized when earned. The Company regularly reviews its investment portfolio to determine if other-than-temporary impairment exists for any debt securities. An investment is impaired when the fair value of the investment declines to an amount less than the cost or amortized cost of that investment. As part of the assessment process, the Company determines whether the impairment is temporary or other-than-temporary. The assessment is based on both quantitative criteria and qualitative information, considering a number of factors including, but not limited to: how long the security has been impaired; the amount of the impairment; or whether management intends to sell the debt security or it is more likely than not that management will have to sell the security before recovery of the amortized cost; the financial condition and near-term prospects of the issuer; whether the issuer is current on contractually-obligated interest and principal payments; key corporate events pertaining to the issuer and whether the market decline was affected by macroeconomic conditions. If a debt security is impaired and management intends to sell the security or it is more likely than not that the Company will have to sell the security before the amortized cost is recovered, then the Company recognizes impairment loss in net realized capital gains (losses). If it is determined that an impairment of a debt security is other-than-temporary and management neither intends to sell the security nor is it more likely than not that the Company will have to sell the security before it is able to recover its cost or amortized cost, then the Company separates the impairment into (a) the amount of impairment related to credit loss and (b) the amount of impairment related to all other factors. The Company records the amount of the impairment related to the credit loss as an impairment charge in net income and the amount of the impairment related to all other factors in accumulated other comprehensive income. No other-than-temporary impairment was recorded for the years ended December 31, 2020, 2019 and 2018. A large portion of the Company’s investment portfolio consists of fixed maturities which may be adversely affected by changes in interest rates as a result of governmental monetary policies, domestic and international economic and political conditions and other factors beyond the Company’s control. Equity method investments: Certain investments where the Company does not have control but has the ability to exercise significant influence are accounted for by the equity method of accounting. Under this method, the Company's investments in certain limited liability companies are recorded at cost and the investment accounts are adjusted for the Company's share of the entities' income or loss and for the distributions and contributions. The income and losses are recorded within equity earnings (losses) in affiliates, net of tax on the consolidated statements of operations. Premium revenue: Premiums are earned over the policy period and are stated after deduction for reinsurance. The portion of premiums that will be earned in the future is deferred and reported as unearned premiums on the consolidated balance sheets. Revenue from contracts with customers: Other revenue recorded by the Company includes brokerage, third-party administrative (TPA), management and consulting fees. The Company incurs certain costs associated with obtaining contracts with customers. Such contracts are one-year contracts and the amortization periods are one year or less. The Company has elected, as a practical expedient, to expense these contract costs as incurred. Brokerage revenue includes the fees earned on excess of loss (XOL) and quota share reinsurance treaties. Billings for brokerage revenues generally occur monthly. Revenue for reinsurance treaties consists of a single performance obligation whereas the total amount of consideration expected to be received is recorded on the effective date of the underlying contract. For XOL treaties, revenue is estimated based on the contractually specified minimum or deposit premiums. For quota share treaties, revenue is estimated based on the projected premium income provided by the ceding insurer. Brokerage fees are received based on the performance of the specified terms of the reinsurance treaty and thus, are considered variable consideration. Therefore, revenue is estimated and constrained to the extent it is probable a significant reversal of revenue will not occur, using the expected value method. Adjustments to revenue are recorded as additional evidence is received for the ultimate amount of brokerage earned under the contract. The Company acts as a third-party claims administrator and earns TPA fees for providing such services. The fee structures vary based on the specific contract and can be dependent upon a number of factors which typically include agreed-upon fee rates, the total amount of premium written or collected under the agreement and the total time and expense incurred for processing claims. Billings for TPA fees occur on a monthly basis. TPA services consist of a single performance obligation which is recognized over time as claims are processed throughout the contract period. The volume of claims varies throughout the contract period and, therefore, the Company has elected to record revenue in an amount that reflects the total fees that the Company has a right to invoice for during the period. The Company acts as a managing general agent (MGA) to provide certain administrative and underwriting services. The consideration received varies based on certain factors including the contractual MGA rate and the total amount of premium written or collected under the contract. Billings for management fees occur on a monthly basis. Management fees consist of a single performance obligation that are recognized by the Company over time as services are provided. The volume of premium written or collected for a single contract varies throughout the contract period and, therefore, the Company has elected to record revenue in an amount that reflects the total fees that the Company has a right to invoice for during the period. The Company provides consulting services for certain reinsurance contracts which includes services such as contract consultation and review. The compensation structure for consulting services is based on fixed periodic payments, generally monthly or quarterly. Consulting services consist of a single performance obligation which is recognized over the term of the consulting agreement. Deferred financing costs: Deferred financing costs are amortized as interest expense over the term of the underlying debt agreement by use of the effective interest method. Unamortized deferred financing costs are recorded as a reduction to long-term debt on the consolidated balance sheets. Premiums and other receivables: Premiums receivable are uncollateralized customer obligations due under normal terms requiring payment by the policy due date. Amounts outstanding that are deemed uncollectible are written off. When payments are received on amounts previously written off, the total premiums written off is reduced in the period in which the payment is received. Advanced premiums are recognized when payment is received prior to the beginning coverage date and are included within unearned premiums on the consolidated balance sheets. Premiums and other receivables consist of the following: December 31, 2020 2019 Premiums receivable $ 106,708 $ 61,774 Trade receivables 2,824 1,053 Notes receivable 51 23 Total premiums and other receivables 109,583 62,850 Less: Allowance for doubtful accounts (366) (390) Net premiums and other receivables $ 109,217 $ 62,460 During the years ended December 31, 2020, 2019 and 2018, the Company wrote off $26, $1,817 and $338 to bad debt, respectively. Bad debt expense is included within general and administrative expenses in the consolidated statements of operations. Deferred policy acquisition costs: The Company incurs policy acquisition costs that vary with and are directly related to the production of new and renewal business. These costs consist of underwriting costs, net commissions (including ceding commissions) paid to agents, program managers and reinsurers, and premium taxes. Proceeds from reinsurance transactions that represent recovery of acquisition costs reduce applicable unamortized acquisition costs in such a manner that net acquisition costs are capitalized and charged to expense. Amortization of such policy acquisition costs is charged to general and administrative expense in proportion to premium earned over the estimated policy term. To the extent that unearned premium on existing policies are not adequate to cover the sum of expected losses, unamortized acquisition costs and policy maintenance costs, unamortized deferred policy acquisition costs are expensed to eliminate the premium deficiency. If the premium deficiency is greater than the unamortized policy acquisition costs, a liability is recorded. No premium deficiency exists as of December 31, 2020, 2019 and 2018. Property and equipment, net: Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is based on the estimated useful lives of the various classes of property and equipment and is determined based on the straight-line method. The estimated useful lives of property and equipment range from three Asset class Depreciation period Building and building improvements 30 years Furniture and fixtures 7 years Office equipment 5 years Software and computer equipment 3 years Long-lived assets, such as property and equipment, and purchased intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset to be impaired, the Company recognizes impairment to the extent that the carrying value exceeds the asset’s fair value. Fair value is determined through various valuation techniques including, but not limited to, discounted cash flow models, quoted market values, and third-party independent appraisals. The Company recorded no impairments of property and equipment for the years ended December 31, 2020, 2019 and 2018. Reserve for unpaid loss and loss adjustment expenses: The liability for unpaid losses and LAE in the consolidated balance sheets represent the Company’s estimated losses incurred that remain unpaid as of the balance sheet date. The liability is recorded on an undiscounted basis. Reserves for unpaid losses include estimates for both claims that have been reported and those that have been incurred but not reported. The estimated losses are regularly reviewed and adjusted as necessary based on historical experience and as the Company obtains new information. The consolidated balance sheets include reserves of unpaid losses gross of the amounts related to unpaid losses recoverable from reinsurers. The consolidated statements of operations include the losses net of amounts ceded to reinsurers. Reinsurance: The Company cedes all, or a portion of, its insurance in order to limit its maximum losses, diversify its exposure and provide statutory surplus relief. Ceding insurance does not relieve the Company of its primary liability to policyholders. The reinsurance agreements are short-term, prospective contracts, typically 12-months in duration. The Company records an asset, prepaid reinsurance premiums, and a liability, reinsurance premiums payable, for the contract amount when premium is written under the reinsurance agreements. Prepaid reinsurance premiums are amortized in the same manner in which unearned premium is recognized. The Company earns ceding commissions on certain reinsurance contracts, which reduces operating expenses. Ceding commissions are amortized over the contract period consistent with deferred policy acquisition costs. The Company records amounts recoverable from reinsurers on paid losses and estimated amounts recoverable on unpaid losses. The estimate of amounts recoverable on unpaid losses is based on unpaid losses in conjunction with the reinsured policies. The Company estimates uncollectible amounts receivable from reinsurers based on an assessment of factors including the credit worthiness of the reinsurers and the adequacy of collateral obtained, where applicable. The Company recorded no bad debt expense related to reinsurance during the years ended December 31, 2020, 2019 and 2018. Guaranty funds: State guaranty associations assess insurance companies for the estimated loss resulting from insurers encountering financial difficulty. The Company records these assessments, as well as any return assessments, upon notification of the state guaranty associations. The effect on operations or financial position relating to any estimated losses are not material for the years ended December 31, 2020, 2019 and 2018. Income taxes: The Company recognizes deferred tax assets and liabilities for the future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which it is expected to recover or settle those temporary differences. Should a change in tax rates occur, the effect on deferred tax assets and liabilities will be recognized in operations in the period that includes the enactment date. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. The Company records any income tax penalties and income tax-related interest as income tax expense in the period incurred. The Company did not incur any material tax penalties or income-tax-related interest during the years ended December 31, 2020, 2019 and 2018. Concentrations of risk: The Company had total gross written premiums of $484,249, $411,401 and $357,007 for the years ended December 31, 2020, 2019 and 2018, respectively, including: Year Ended December 31, 2020 2019 2018 California $ 203,421 $ 202,446 $ 153,611 Michigan 41,830 38,174 37,084 Texas 28,909 * * Arizona 27,950 34,215 28,350 Alabama 17,549 12,946 11,907 Mississippi 13,307 8,910 7,143 Georgia 12,869 * * Tennessee 12,347 8,065 7,809 Nevada 10,760 11,869 9,225 Pennsylvania 10,498 * * Other geographical areas 104,809 94,776 101,878 Total gross written premium $ 484,249 $ 411,401 $ 357,007 * The amount for the state is relevant for 2020 but not in other periods and therefore, was not presented. As of December 31, 2020, approximately 28% and 27% of the Company’s investment portfolio was comprised of securities issued in industrial and public utility bonds and mortgage-backed securities, respectively, compared to 36% and 21% as of December 31, 2019, respectively. All of these securities are investment grade. This portfolio is widely diversified among various issuers and industries and does not depend on the economic stability of one issuer and industry. As of December 31, 2019, approximately 8% of the Company’s net assets were comprised of the equity method investment in Compstar Holding Company LLC. During fiscal year 2020, the Company purchased the remaining ownership share of Compstar Holding Company LLC and no longer carries its investment under the equity method. The Company, from time to time, maintains its cash position at banks in excess of federally insured limits. The Company has not experienced any losses on such accounts. Goodwill: Goodwill represents the cost to acquire a business over the fair value of the net assets acquired. Goodwill is not amortized but is reviewed for impairment at least annually or more frequently if events occur or circumstances change that would indicate that a triggering event for a potential impairment has occurred. The Company had $140,640 and $2,822 of goodwill on the consolidated balance sheets as of December 31, 2020 and 2019, respectively. An impairment loss would generally be recognized when the carrying amount of the reporting unit’s net assets exceeds the estimated fair value of the reporting unit. For the years ended December 31, 2020, 2019 and 2018, no impairment loss was recorded. Intangible assets: Acquired intangible assets include client relationships, customer lists, non-compete agreements and trade names acquired. Intangible assets with a finite life are amortized over the estimated useful life. In valuing these assets, assumptions are made regarding useful lives and projected growth rates and significant judgment is required. The Company periodically reviews identifiable intangibles for impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If the carrying amounts of the assets exceed their undiscounted cash flows, an impairment loss is recorded. For the years ended December 31, 2020, 2019 and 2018, no impairment loss was recorded. Deferred offering costs: Deferred offering costs are specific incremental costs directly attributable to an offering of securities. The Company defers these costs and will charge them against the gross proceeds of a future offering. The Company had $664 of deferred offering costs as of December 31, 2019 which are included within other assets on the consolidated balance sheets. As of December 31, 2019, $253 of deferred offering costs were unpaid and are included within accounts payable and accrued expenses on the consolidated balance sheets. The Company completed its offering on July 15, 2020 and offset proceeds with $6,503 of deferred offering costs. Segment reporting: Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker reviews financial information of the Company as a whole for purposes of assessing financial performance and making operating decisions. Accordingly, the Company considers itself to be operating as a single operating and reportable segment.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions 7710 Insurance Company Effective October 1, 2020, Benchmark Holding Company acquired 100% ownership of 7710 Insurance Company as well as its associated program manager and agency, 7710 Service Company, LLC and Creekwood Insurance Agency, LLC for a purchase price of $12,140. 7710 Insurance Company underwrites workers' compensation primarily for emergency services, including firefighters and emergency medical services (EMS). 7710 Insurance Company focuses on reducing costs and claims through the implementation of a proprietary safety preparedness and loss control program, created and staffed by experienced firefighters and EMS professionals. The following table summarizes the consideration paid and the amounts of estimated fair value of the net assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 12,140 Recognized amounts of identifiable assets acquired and liabilities assumed: Fixed maturities 895 Cash and cash equivalents 2,704 Accrued investment income 7 Premiums and other receivables 2,618 Reinsurance recoverable 5,069 Prepaid reinsurance premiums 920 Deferred policy acquisition costs 466 Property and equipment 22 Right of use asset 196 Goodwill 2,873 Intangible assets 3,299 Other assets 7,435 Unpaid loss and loss adjustment expenses (8,117) Unearned premiums (3,831) Funds held under reinsurance agreements (421) Accounts payable and accrued expenses (1,112) Lease liability (220) Deferred tax liabilities (394) Debt (269) Net assets acquired $ 12,140 The assessment of fair value, the determination of deferred tax assets acquired, the liability for unpaid loss and loss adjustment expense assumed and other payables and receivables are preliminary and are based on the information that was available at the time the consolidated financial statements were prepared. Accordingly, the allocation of purchase price to intangible assets, goodwill, deferred tax assets and liabilities and the liability for unpaid loss and loss adjustment expense is preliminary and, therefore, subject to adjustment in future periods. The Company recorded $2,873 of goodwill associated with the business combination. The goodwill recognized is attributable to the assembled workforce and the expected growth resulting from the acquisition. The Company also recorded preliminary intangible assets totaling $3,299 which are comprised of the following: Useful Life Balance Trade name 15 years $ 458 Customer relationships 10 years 2,841 Total intangible assets $ 3,299 Subsequent to the acquisition date, 7710 Insurance Company, 7710 Service Company and Creekwood Insurance Agency recorded total revenue of $1,183, of which $1,131 is intercompany related and is eliminated in consolidation, and contributed net income totaling $186 to consolidated net income on the consolidated statement of operations. Compstar Holding Company LLC Effective July 15, 2020, Trean Compstar Holdings LLC purchased the remaining 55% ownership interest in Compstar Holding Company LLC (Compstar), a holding company along with its wholly owned subsidiary Compstar Insurance Services, a managing general agent, by issuing 6,613,606 shares of the Company’s common stock with a market price of $15 per share on the date of acquisition. Prior to the acquisition date, the Company held a 45% ownership interest in Compstar and accounted for its investment under the equity method. As of the acquisition date, the fair value attributable to the Company’s previous equity interest was $81,167 and the carrying value was $11,321. As a result, the Company recorded a gain of $69,846 from the remeasurement of its previous equity interest, which is included in gain on revaluation of Compstar on the consolidated statement of operations. The acquisition-date fair value of the Company’s previous equity interest was revalued using the market price of the shares issued as consideration for the acquisition. The following table summarizes the consideration paid and the amounts of estimated fair value of the net assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 99,204 Previous investment in subsidiary 11,321 Fair value adjustment to prior investment 69,846 Fair value of assets acquired and liabilities assumed 180,371 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and cash equivalents 11,891 Premiums and other receivables 3,632 Property and equipment 444 Right of use asset 1,020 Goodwill 134,428 Intangible assets, net 73,954 Other assets 184 Accounts payable and accrued expenses (11,328) Lease liability (1,302) Deferred tax liabilities (12,487) Debt (20,065) Net assets acquired $ 180,371 The assessment of fair value, the determination of deferred tax assets acquired and other payables and receivables are preliminary and are based on the information that was available at the time the consolidated financial statements were prepared. Accordingly, the allocation of purchase price to intangible assets, goodwill and deferred tax assets and liabilities is preliminary and, therefore, subject to adjustment in future periods. The Company recorded $134,428 of goodwill associated with the business combination. The goodwill recognized is attributable to the assembled workforce, the expected growth resulting from the acquisition and synergies gained to assist in the reduction of operating expenses. The Company also recorded preliminary intangible assets totaling $73,954, which are comprised of the following: Useful Life Balance Trade name 15 years $ 3,157 Customer relationships 14 years 70,797 Total intangible assets $ 73,954 Subsequent to the acquisition date, Compstar recorded total revenue of $7,949, of which $7,928 is intercompany related and is eliminated in consolidation, and contributed net income totaling $1,989 to consolidated net income on the consolidated statement of operations. LCTA Risk Services, Inc. Effective April 1, 2020, Trean Corp purchased 100% of the operating assets and assumed the liabilities of LCTA Risk Services, Inc. The total purchase price was $1,400. The following table summarizes the consideration paid and the amounts of estimated fair value of the net assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 1,400 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and cash equivalents 302 Premiums and other receivables 55 Property and equipment 63 Goodwill 517 Intangible assets, net 482 Other assets 12 Accounts payable (17) Income taxes payable (14) Net assets acquired $ 1,400 The Company recorded $517 of goodwill associated with the business combination. The goodwill recognized is attributable to the expected growth resulting from the acquisition and the synergies gained to assist in reducing operating expenses. American Liberty Insurance Company Effective March 31, 2019, Benchmark Holdings Company purchased the remaining 25% of outstanding voting shares in ALIC for $1,155. The purchase price was determined based on the statutory surplus of ALIC. First Choice Casualty Insurance Company Effective February 19, 2019, Benchmark purchased 100% of the operating assets and assumed the liabilities of First Choice Casualty Insurance Company (FCCIC). The total purchase price was $5,314. As part of the acquisition, the Company recorded a bargain purchase gain of $634 which is included in net realized capital gains (losses) on the consolidated statements of operations. The Company was able to realize a bargain purchase gain as the seller was looking to exit the workers' compensation market with the sale of their management agreement to a new manager. With the new manager, the seller had a lack of interest and expertise in maintaining workers' compensation policies, which had historically been underwritten and managed by Trean Corp. The following table summarizes the consideration paid and the amounts of estimated fair value of the assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 5,314 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash 973 Investments 4,252 Accrued investment income 40 Premiums and other receivables 1,571 Deferred tax asset 242 Other assets 10 Funds held under reinsurance agreements 7,980 Unpaid loss and loss adjustment expenses (6,426) Unearned premiums (1,003) Reinsurance premiums payable (1,037) Accounts payable and accrued expenses (316) Income taxes payable (338) Net assets acquired 5,948 Gain on bargain purchase $ 634 Westcap Insurance Services, LLC Effective April 2, 2018, the Company purchased 100% of the operating assets and assumed certain liabilities of Westcap Insurance Services, LLC (Westcap). The total purchase price was $2,450. The following table summarizes the consideration paid and the amounts of estimated fair value of the assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 2,450 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash 1,003 Property and equipment 194 Other assets 1 Goodwill 2,154 Accounts payable (902) Net assets acquired $ 2,450 The Company recorded approximately $2,154 of goodwill associated with the business combination. The goodwill recognized is attributable to the expected growth resulting from the acquisition and the ability to direct the operations of Westcap. Further, the goodwill is attributable to synergies gained to assist in reducing future expenses. CTS Underwriters, LLC Effective December 12, 2018, the Company acquired certain operating assets of CTS Underwriters, LLC located in Florida. The total purchase price was $50. The following table summarizes the consideration paid and the amounts of estimated fair value of the assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 50 Recognized amounts of identifiable assets acquired and liabilities assumed: Equipment 10 Non-compete agreement 40 Net assets acquired $ 50

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments include assets and liabilities carried at fair value. The inputs to valuation techniques used to measure fair value are prioritized into a three level hierarchy. The fair value hierarchy is as follows: Level 1 : Fair values primarily based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 : Fair values primarily based on observable inputs, other than quoted prices included in Level 1, or based on prices for similar assets and liabilities. Level 3 : Fair values primarily based on valuations derived when one or more of the significant inputs are unobservable. With little or no observable market, the determination of fair value uses considerable judgment and represents the Company’s best estimate of an amount that could be realized in a market exchange for the asset or liability. The Company classifies the financial asset or liability by level based upon the lowest level input that is significant to the determination of the fair value. The following tables present the estimated fair value of the Company’s significant financial instruments. December 31, 2020 Level 1 Level 2 Level 3 Total Fixed maturities: U.S. government and government securities $ 17,471 $ — $ — $ 17,471 Foreign governments — 302 — 302 States, territories and possessions — 7,774 — 7,774 Political subdivisions of states territories and possessions — 33,212 — 33,212 Special revenue and special assessment obligations — 81,714 — 81,714 Industrial and public utilities — 113,741 — 113,741 Commercial mortgage-backed securities — 18,066 — 18,066 Residential mortgage-backed securities — 93,017 — 93,017 Other loan-backed securities — 39,945 — 39,945 Hybrid securities — 362 — 362 Total fixed maturities 17,471 388,133 — 405,604 Equity securities: Preferred stock — 240 — 240 Common stock 958 576 2,000 3,534 Total equity securities 958 816 2,000 3,774 Total investments $ 18,429 $ 388,949 $ 2,000 $ 409,378 Funds held under reinsurance agreements — 174,704 — 174,704 Debt: Secured credit facility — 32,381 — 32,381 Total debt $ — $ 32,381 $ — $ 32,381 December 31, 2019 Level 1 Level 2 Level 3 Total Fixed maturities: U.S. government and government securities $ 16,129 $ — $ — $ 16,129 Foreign governments — 302 — 302 States, territories and possessions — 4,923 — 4,923 Political subdivisions of states, territories and possessions — 25,104 — 25,104 Special revenue and special assessment obligations — 61,405 — 61,405 Industrial and public utilities — 123,207 — 123,207 Commercial mortgage-backed securities — 16,312 — 16,312 Residential mortgage-backed securities — 54,109 — 54,109 Other loan-backed securities — 36,011 — 36,011 Hybrid securities — 363 — 363 Total fixed maturities 16,129 321,736 — 337,865 Equity securities: Preferred stock — 343 — 343 Common stock — 492 — 492 Total equity securities — 835 — 835 Total investments $ 16,129 $ 322,571 $ — $ 338,700 Funds held under reinsurance agreements — 163,445 — 163,445 Debt: Junior subordinated debt — 7,732 — 7,732 Secured credit facility — 21,637 — 21,637 Total debt $ — $ 29,369 $ — $ 29,369 Bonds and equity securities: The Company, in conjunction with its third-party pricing service provider, uses a variety of sources to estimate the fair value of investments such as Reuters, Iboxx, PricingDirect, ICE BofAML Index, ICE Data Services, and for equities, Bloomberg. Equity securities are valued at the closing price on the exchange on which they are primarily traded as provided by a third-party pricing service. Fixed income securities are generally valued at an evaluated bid as provided by a third-party pricing service. Securities and other assets generally valued using third-party pricing services may also be valued at broker/dealer bid quotations. Values obtained from third-party pricing services can utilize several data sources for inputs such as transaction data, yield, quality, coupon rate, maturity, issue type, trading characteristics and market activity. To validate the reasonableness of the quoted prices, the Company performs various qualitative and quantitative procedures such as analysis of recent trading activity, analytical review of fair values and an evaluation of the underlying pricing methodologies. Based on these procedures, the Company did not adjust the prices or quotes from the third-party pricing service. Funds held under reinsurance agreements: The Company holds certain investments as collateral under reinsurance contracts and values these investments consistent with its other investments using third-party pricing services. To validate the reasonableness of the quoted prices, the Company performs various qualitative and quantitative procedures such as analysis of recent activity, analytical review of fair values and an evaluation of the underlying pricing methodologies. Based on these procedures, the Company did not adjust the prices or quotes from the third-party pricing service. Debt: The Company holds debt related to multiple credit agreements. The Company has determined that the remaining balance of the debt reflected its fair value as this would represent the total amount to repay the debt.

Investments

Investments	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The cost or amortized cost, gross unrealized gains, gross unrealized losses, and estimated fair value of the Company's investments are as follows: December 31, 2020 Cost or Gross Gross Fair Value Fixed maturities: U.S. government and government securities $ 17,135 $ 336 $ — $ 17,471 Foreign governments 300 2 — 302 States, territories and possessions 7,500 274 — 7,774 Political subdivisions of states, territories and possessions 31,759 1,453 — 33,212 Special revenue and special assessment obligations 77,329 4,422 (37) 81,714 Industrial and public utilities 107,017 6,768 (44) 113,741 Commercial mortgage-backed securities 16,242 1,848 (24) 18,066 Residential mortgage-backed securities 91,478 1,626 (87) 93,017 Other loan-backed securities 39,293 719 (67) 39,945 Hybrid securities 356 6 — 362 Total fixed maturities available for sale 388,409 17,454 (259) 405,604 Equity securities: Preferred stock 243 — (3) 240 Common stock 1,554 2,053 (73) 3,534 Total equity securities 1,797 2,053 (76) 3,774 Total investments $ 390,206 $ 19,507 $ (335) $ 409,378 December 31, 2019 Cost or Gross Gross Fair Value Fixed maturities: U.S. government and government securities $ 15,965 $ 167 $ (3) $ 16,129 Foreign governments 299 3 — 302 States, territories and possessions 4,789 134 — 4,923 Political subdivisions of states, territories and possessions 24,444 670 (10) 25,104 Special revenue and special assessment obligations 59,149 2,298 (42) 61,405 Industrial and public utilities 119,735 3,490 (18) 123,207 Commercial mortgage-backed securities 15,586 757 (31) 16,312 Residential mortgage-backed securities 53,467 679 (37) 54,109 Other loan-backed securities 35,849 281 (119) 36,011 Hybrid securities 357 6 — 363 Total fixed maturities available for sale 329,640 8,485 (260) 337,865 Equity securities: Preferred stock 337 6 — 343 Common stock 492 — — 492 Total equity securities 829 6 — 835 Total investments $ 330,469 $ 8,491 $ (260) $ 338,700 The following table illustrates the Company’s gross unrealized losses and fair value of fixed maturities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position: December 31, 2020 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fixed maturities: U.S. government and government securities $ 4,518 $ — $ — $ — $ 4,518 $ — Foreign governments — — — — — — States, territories and possessions — — — — — — Political subdivisions of states, territories and possessions — — — — — — Special revenue and special assessment obligations 2,923 (37) — — 2,923 (37) Industrial and public utilities 2,106 (44) — — 2,106 (44) Commercial mortgage-backed securities 999 (24) — — 999 (24) Residential mortgage-backed securities 8,811 (74) 262 (13) 9,073 (87) Other loan-backed securities 2,037 (10) 9,036 (57) 11,073 (67) Hybrid securities 250 — — — 250 — Total bonds $ 21,644 $ (189) $ 9,298 $ (70) $ 30,942 $ (259) December 31, 2019 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fixed maturities: U.S. government and government securities $ 293 $ (2) $ 1,349 $ (1) $ 1,642 $ (3) Foreign governments — — — — — — States, territories and possessions — — — — — — Political subdivisions of states, territories and possessions 1,500 (9) 690 (1) 2,190 (10) Special revenue and special assessment obligations 3,206 (42) 181 — 3,387 (42) Industrial and public utilities 5,939 (16) 1,094 (2) 7,033 (18) Commercial mortgage-backed securities 2,138 (30) 129 (1) 2,267 (31) Residential mortgage-backed securities 6,936 (13) 1,917 (24) 8,853 (37) Other loan-backed securities 2,189 (11) 13,885 (108) 16,074 (119) Hybrid securities — — — — — — Total bonds $ 22,201 $ (123) $ 19,245 $ (137) $ 41,446 $ (260) The unrealized losses on the Company’s available for sale securities as of December 31, 2020 were primarily attributable to COVID-19 related credit spread widening and an increase in interest rates since first quarter lows, which predominantly impacted fixed maturities acquired during the second and third quarter of 2020. The unrealized losses on the Company's available for sale securities as of December 31, 2019 were primarily caused by widening in corporate and tax exempt credit spreads, rather than credit-related problems. The amortized cost and estimated fair value of fixed maturities as of December 31, 2020, by contractual maturity, are as follows: Cost or Amortized Cost Fair Value Available for sale: Due in one year or less $ 25,844 $ 26,107 Due after one year but before five years 102,491 107,516 Due after five years but before ten years 61,952 67,091 Due after ten years 51,109 53,862 Commercial mortgage-backed securities 16,242 18,066 Residential mortgage-backed securities 91,478 93,017 Other loan-backed securities 39,293 39,945 Total $ 388,409 $ 405,604 Actual maturities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Realized gains and losses on investments included in the consolidated statements of operations for the years ended December 31, 2020, 2019 and 2018 are as follows: Year Ended December 31, 2020 2019 2018 Fixed maturities: Gains $ 259 $ 91 $ 111 Losses (7) (24) (201) Total fixed maturities 252 67 (90) Equity securities: Preferred stock: Losses — — (6) Equity method investments: Gains 3,115 — — Total equity securities 3,115 — (6) Total net investment realized gains (losses) $ 3,367 $ 67 $ (96) Net investment income consists of the following for the years ended December 31, 2020, 2019, and 2018: Year Ended December 31, 2020 2019 2018 Fixed maturities $ 6,271 $ 6,078 $ 4,701 Preferred stock 48 40 25 Common stock 1,980 — — Interest earned on cash and short-term investments 25 127 90 Net investment income $ 8,324 $ 6,245 $ 4,816

Equity Method Investments

Equity Method Investments	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments The Company had investments in Compstar, Trean Intermediaries (TRI) and Stop-Loss Re, LLC (Stop-Loss). Equity earnings and losses are reported in equity earnings (losses) in affiliates, net of tax on the consolidated statements of operations. On July 15, 2020, the Company purchased the remaining 55% ownership interest in Compstar (See Note 3). Prior to the acquisition, the Company owned 45% of Compstar which had a carrying value of approximately $11,831 as of December 31, 2019. The Company recorded earnings for the years ended December 31, 2020 and 2019 of 2,333 and $3,012, respectively, and losses of $1,788 for the year ended December 31, 2018. Distributions received from Compstar for the years ended December 31, 2020, 2019 and 2018 were $2,842, $4,649 and $2,542, respectively. On January 3, 2020, the Company sold 15% of its previous 25% ownership in TRI for cash proceeds of $3,000. The Company currently maintains a 10% ownership interest in TRI. As a result of its significant ownership reduction and its lack of significant influence over the operations and policies of TRI, the Company reclassified its TRI investment, at fair value, to investments in common stock in the first quarter of 2020. The Company realized a gain on the sale of $3,115, which is included in net realized capital gains (losses) on the consolidated statements of operations. The Company subsequently re-measured its TRI investment shares resulting in an unrealized gain of $2,000 which is recorded in net investment income on the consolidated statement of operations. The carrying value of TRI as of December 31, 2019 was approximately $110. The Company recorded earnings for the years ended December 31, 2019 and 2018 of $552 and $709, respectively. Distributions received from TRI for the years ended December 31, 2020, 2019 and 2018 were $225, $840 and $309, respectively. Effective December 31, 2019, the Company surrendered its ownership in Stop-Loss. The Company recorded a loss on disposal of approximately $34 for the year ended December 31, 2019 which is included within net realized capital gains (losses) on the combined statements of operations. The Company’s losses for the years ended December 31, 2019 and 2018 were approximately $6 and $2, respectively. Summarized financial information for the Company's equity method investments are as follows: 2020 2019 2018 Total assets * $ 58,657 $ 60,202 Total liabilities * 42,980 44,476 Revenues * 24,010 24,267 Net income (loss) * 8,870 (1,150) *2020 amounts are not included as the Company no longer maintains an equity method investment in Compstar, TRI or Stop-Loss.

Nonconsolidated Variable Intere

Nonconsolidated Variable Interest Entities	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nonconsolidated Variable Interest Entities	Nonconsolidated Variable Interest Entities In 2019, the Company was engaged with certain entities that were deemed to be variable interest entities. A variable interest entity ("VIE") is an entity that has investors that lack certain essential characteristics of a controlling financial interest, such as a simple majority equity ownership or lacks sufficient funds to finance its own activities without financial support provided by other entities. The Company performs ongoing qualitative assessments of its VIEs to determine whether the Company has a controlling financial interest in the VIE and therefore is the primary beneficiary. The Company is deemed to have a controlling financial interest when it has both the ability to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. Based on the Company’s assessment, if it determines it is the primary beneficiary, the Company consolidates the VIE in the consolidated and combined financial statements. The Company had a variable interest in Trean Capital Trust I (the "Trust") that had mandatory redeemable preferred securities outstanding with a liquidation value of $7,500. The Trust was a variable interest entity under current accounting guidance because the Company had limited ability to make decisions about its activities. However, the Company was not the primary beneficiary of the Trust; and therefore, the Trust and the mandatory redeemable preferred securities issued by the Trust are not reported on the Company’s consolidated and combined balance sheets. During 2020, the Company redeemed all of the redeemable preferred securities of the Trust. As of December 31, 2020, the Trust is no longer considered a VIE. The Company had a variable interest in Compstar Holding Company LLC (Compstar), a limited liability company created for the purchase of an interest in Compstar Insurance Services, LLC, a California based general agent. Compstar was a variable interest entity under current accounting guidance because Compstar did not have sufficient capital at risk, as evidenced by a loan guarantee by a member. However, the Company was not the primary beneficiary of Compstar, and therefore, was not reported in the Company’s consolidated and combined balance sheet as of December 31, 2019. During 2020, the Company purchased the remaining ownership interest in Compstar resulting in Compstar becoming a wholly-owned subsidiary of the Company. As of December 31, 2020, Compstar is no longer considered a VIE.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consists of the following: December 31, 2020 2019 Land $ 1,780 $ 1,780 Building and building improvements 5,755 5,150 Furniture and fixtures 1,106 772 Office equipment 2,813 2,193 Other property, plant and equipment 93 72 Deposits on fixed assets not placed in service 15 366 Total, at cost 11,562 10,333 Less: Accumulated depreciation (3,308) (2,396) Property and equipment, net $ 8,254 $ 7,937 Depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $912, $830 and $470, respectively. The Company sold one building on October 15, 2018. Proceeds from the sale were $2,296 and the realized loss on disposal was $619.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill Changes in the carrying value of goodwill are as follows: 2020 2019 Balance at beginning of period $ 2,822 $ 2,822 Acquisitions 137,818 — Balance at end of period $ 140,640 $ 2,822 Intangible assets Intangible assets subject to amortization consist of the following: December 31, Useful Life 2020 2019 Non-compete agreement 2-4 years $ 44 $ 44 Trade name 6-15 years 3,682 67 Customer lists and relationships 10-14 years 74,284 164 Totals 78,010 275 Less: Accumulated amortization (2,694) (121) Intangible assets, net $ 75,316 $ 154 Amortization expense for the years ended December 31, 2020, 2019 and 2018 was $2,573, $46 and $27, respectively. The estimated future amortization of intangible assets is as follows: Trade name Customer lists Total 2021 $ 248 $ 5,406 $ 5,654 2022 248 5,406 5,654 2023 241 5,405 5,646 2024 241 5,405 5,646 2025 241 5,405 5,646 Thereafter 2,306 44,764 47,070 Total $ 3,525 $ 71,791 $ 75,316

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs, Net	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Deferred Policy Acquisition Costs, Net	Deferred Policy Acquisition Costs, Net The Company defers costs incurred which are incremental and directly related to the successful acquisition of new or renewal insurance business, net of corresponding amounts of ceded reinsurance commissions. Net deferred policy acquisition costs are amortized in proportion to premium earned over the estimated policy term. The Company anticipates that its deferred policy acquisition costs will be fully recoverable and there were no premium deficiencies for the years ended December 31, 2020, 2019 and 2018. The table below depicts the activity with regard to deferred policy acquisition costs, net: 2020 2019 2018 Balance at beginning of period $ 2,115 $ 2,976 $ 1,833 Policy acquisition costs deferred 7,593 14,646 8,279 Amortization charged to expense (8,376) (15,507) (7,136) Balance at end of period $ 1,332 $ 2,115 $ 2,976

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consist of the following: December 31, 2020 2019 Accrued commissions and third-party administration fees $ 5,391 $ 2,713 Trade payables 2,823 2,387 Accrued taxes, licenses and fees 4,527 4,313 Accrued wages and employee benefits 4,092 2,167 Amounts retained for the accounts of others 41,655 2,467 Litigation settlement 1,210 — Other liabilities 1,542 948 Total $ 61,240 $ 14,995

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following: December 31, 2020 2019 Junior subordinated debt $ — $ 7,732 Secured credit facility 32,381 21,637 Total debt 32,381 29,369 Less: unamortized deferred financing costs (744) (329) Net debt $ 31,637 $ 29,040 Junior Subordinated Debt In June 2006, Trean Capital Trust I (the Trust) issued 7,500 shares of preferred capital securities to qualified institutional buyers and 232 common securities to Trean Corp. The proceeds of such issuances were invested by the Trust in $7,732 aggregate principal amount of Trean Corp's Junior Subordinated Debt due 2036 (the Subordinated Notes). The Subordinated Notes represent the sole assets of the Trust. On October 7, 2020, Trean Corp redeemed all of the Subordinated Notes for a total payoff amount of $7,807. The interest rate was a fixed rate of 9.167% until July 7, 2011, after which a variable interest rate of LIBOR (1.99% and 2.44% as of December 31, 2019 and 2018, respectively) plus 3.50% was in effect. The interest rate totaled 5.49% and 5.94% as of December 31, 2019 and 2018, respectively. The preferred capital securities issued by the Trust in turn pay quarterly cash distributions at an annual rate of 9.167% per annum of the liquidation amount of $1 per security until July 7, 2011 and thereafter at a variable rate per annum, reset quarterly, equal to LIBOR plus 3.50%. During the years ended December 31, 2020, 2019 and 2018, the Company recorded $271, $464 and $433 of interest expense, respectively, associated with the Subordinated Notes. Secured Credit Facility In April 2018, Trean Corp entered into a credit agreement with a bank which includes a term loan facility totaling $27,500 and a revolving credit facility of $3,000. Borrowings are secured by substantially all of the assets of Trean and its subsidiaries. On July 16, 2020, the Company entered into a new Second Amended and Restated Credit Agreement which, among other things, extended the Company's credit facility for a period of five years through May 26, 2025 and increased its term loan facility by $11,707 resulting in a total term loan debt amount of $33,000 at the time of closing. The loan has a variable interest rate of LIBOR plus 4.50%, 3.00% and 3.50%, which was 4.72%, 6.33% and 6.89% as of December 31, 2020, 2019 and 2018, respectively. The outstanding principal balance of the loan is to be repaid in quarterly installments which escalate from $206 to $825. All equity securities of the subsidiaries of Trean Insurance Group, Inc. (other than Benchmark Holding Company and its subsidiaries) have been pledged as collateral. During the years ended December 31, 2020, 2019 and 2018, the Company recorded $1,518, $1,617 and $1,404 of interest expense, respectively, associated with its credit facility. The terms of the credit facility require the Company to maintain certain financial covenants and ratios. The Company was in compliance with all covenants and ratios as of December 31, 2020, 2019 and 2018. Oak Street Loan In conjunction with the acquisition of Compstar (See Note 3), the Company acquired a loan from Oak Street Funding with a total principle of $19,740. In July 2020, upon completion of the acquisition, the Company paid this loan off in full. PPP Loans In conjunction with the acquisition of Compstar, the Company acquired a Federal Paycheck Protection Program (PPP) Loan with a principal balance of $325. The PPP Loan was forgiven on November 6, 2020. In conjunction with the acquisition of 7710, the Company acquired a PPP Loan with a principal balance of $269. The PPP Loan was forgiven on November 12, 2020. Scheduled maturities of debt, excluding deferred financing costs, are as follows: 2021 $ 1,444 2022 1,650 2023 2,887 2024 3,300 2025 23,100 Thereafter — Total debt $ 32,381

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Revenue from contracts with customers, included in other revenue, includes brokerage, management, third-party administrative and consulting fees. Revenue from contracts with customers was $12,104 and $9,125 for the years ended December 31, 2020 and 2019, respectively. The following table presents the revenues recognized from contracts with customers included in the consolidated statements of operations. Year Ended December 31, 2020 2019 Brokerage $ 8,994 $ 5,828 Managing general agent fees 976 858 Third-party administrator fees 1,630 1,776 Consulting fees 504 663 Total revenue from contracts with customers $ 12,104 $ 9,125 The Company did not have any contract liabilities as of December 31, 2020 or December 31, 2019. The following table provides information related to the contract assets from contracts with customers. Contract assets are included within other assets on the consolidated balance sheets. December 31, 2020 2019 Contract assets $ 3,405 $ 1,103

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesIncome tax expense is comprised of the following: Year Ended December 31, 2020 2019 2018 Current tax expense $ 7,291 $ 8,642 $ 5,618 Deferred tax expense (466) (1,568) (72) Total income tax expense $ 6,825 $ 7,074 $ 5,546 The income tax expense differs from the expected income tax expense computed by applying the applicable federal statutory tax rates to pretax income as a result of the following: 2020 Effective Rate 2019 Effective Rate 2018 Effective Rate Income tax expense computed at statutory rate $ 20,005 21.0 % $ 7,309 21.0 % $ 5,492 21.0 % State taxes, net of federal benefit 577 0.6 % 293 0.8 % 201 0.8 % Tax-exempt municipal income, net of proration (272) (0.3) % (271) (0.8) % (328) (1.3) % Nondeductible IPO & potential buyer expenses 957 1.0 % 91 0.3 % — — % Fair market value adjustment on Compstar investment (14,668) (15.4) % — — % — — % Other 226 0.3 % (348) (1.0) % 181 0.7 % Total income tax expense $ 6,825 7.2 % $ 7,074 20.3 % $ 5,546 21.2 % On December 22, 2017 the 2017 Tax Act was signed into law. The 2017 Tax Act has modified loss reserve discounting requirements for tax purposes. The 2017 Tax Act extends the payment pattern used to calculate loss discounts and increases the discount rate, replacing the applicable federal rate for a higher-yield corporate bond rate. The new discounting requirements are applicable to all existing and future loss reserves, effective beginning in tax year 2018, subject to an eight-year adjustment. As of December 31, 2020 and 2019, the Company has net operating loss (NOL) carryforwards for federal income tax purposes of approximately $3,639 and $4,752 related to the purchases of ALIC and FCCIC. Due to the purchases, the Company is limited to the amount of NOL Carryforward it can use each year. The Company estimates it can use approximately $1,676 of the available NOL carryforward over the next 18 years, and has established a deferred tax asset of approximately $118 and $352 as of December 31, 2020 and 2019, respectively. The significant components of deferred tax assets and liabilities are as follows: December 31, 2020 2019 Deferred tax assets: Unpaid losses and LAE $ 3,180 $ 2,671 Unearned premiums 2,101 995 NOL carryforward 118 352 Lease liability 1,789 — Accrued liabilities 189 190 Stock compensation 120 — Other 81 176 Total deferred tax assets 7,578 4,384 Deferred tax liabilities: Deferred acquisition costs (259) (444) Loss reserve discounting TCJA transitional adjustment (591) (675) Unrealized gains and losses on investments (2,556) (1,281) Property and equipment (389) (296) Right-of-use asset (1,667) — Intangible assets (13,271) (28) Unrealized gain on TRI investment (474) — Prepaid expenses (352) (52) Section 481(a) adjustment (224) (156) Other (124) (85) Total deferred tax liabilities (19,907) (3,017) Net deferred tax assets (liabilities) $ (12,329) $ 1,367 The Company completed its IRS examination related to the 2017 income tax return of Trean Corp. The results of the examination resulted in no changes to the 2017 Trean Corp tax return. The Company's tax years 2017 through 2019 remain open to examination by the IRS and various state authorities. As of December 31, 2020 and 2019, the Company has not taken any uncertain tax positions with regard to its tax returns.

Liability for Unpaid Losses and

Liability for Unpaid Losses and Loss Adjustment Expense	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Liability for Unpaid Losses and Loss Adjustment Expense	Liability for Unpaid Losses and Loss Adjustment Expense The Company establishes reserves for unpaid losses and LAE which represent the estimated ultimate cost of all losses incurred that were both reported and unreported (i.e., incurred but not reported losses, or "IBNR") and LAE incurred that remain unpaid at the balance sheet date. The Company reserves for loss after considering all information known at each reporting period. At any given point in time, loss reserves represent the best estimate of the ultimate settlement and administration cost of insured claims incurred and unpaid. Since the process of estimating loss reserves requires significant judgment due to a number of variables, such as fluctuations in inflation, judicial decisions, legislative changes and changes in claims handling procedures, the ultimate liability will likely differ from these estimates. The Company revises the reserves for unpaid losses as additional information becomes available, and reflects adjustments, if any, in earnings in the periods in which the adjustments are deemed necessary. The liability for unpaid losses is recorded on an undiscounted basis. The following table represents a reconciliation of changes in the liability for unpaid losses and LAE. Year Ended December 31, 2020 2019 2018 Unpaid losses and LAE reserves at beginning of period $ 406,716 $ 340,415 $ 277,671 Less losses ceded through reinsurance (304,005) (257,421) (206,323) Net unpaid losses and LAE at beginning of period 102,711 82,994 71,348 Acquisition of subsidiary, net of losses ceded through reinsurance 7,050 6,366 — Incurred losses and LAE related to: Current period 65,587 54,933 41,635 Prior period (14,813) (10,272) (5,906) Total incurred losses and LAE 50,774 44,661 35,729 Paid losses and LAE, net of reinsurance, related to: Current period 15,411 11,852 7,724 Prior period 22,962 19,458 16,359 Total paid losses and LAE 38,373 31,310 24,083 Net unpaid losses and LAE at end of period 122,162 102,711 82,994 Plus losses ceded through reinsurance 335,655 304,005 257,421 Unpaid losses and LAE reserves at end of period $ 457,817 $ 406,716 $ 340,415 As a result of changes in estimates of insured events in prior years, the provision for unpaid losses and LAE decreased by approximately $14,813 and $10,272 and $5,906 for the years ended December 31, 2020, 2019 and 2018, respectively, primarily attributable to the development in the Company’s workers’ compensation book of business. The Company purchased annuities from life insurers under which the claimants are the payees. The purchase of these annuities allowed the Company to reduce reserves for unpaid losses by approximately $2,553 in previous years. Under the terms of settlement with the claimants, the Company remains liable for payments to the claimants of approximately $1,717 and $1,773 as of December 31, 2020 and 2019, respectively, in the event of default or insolvency of the life insurers. Loss Development Tables The following tables represent cumulative incurred loss and allocated loss adjustment expenses, net of reinsurance by accident year and cumulative paid loss and allocated loss adjustment expenses, net of reinsurance by accident year, for the years ended December 31, 2011 to 2020, as well as total IBNR and the cumulative number of reported claims for the year ended December 31, 2020, by reportable line of business and accident year (dollars in thousands). The Company’s primary lines of business are workers’ compensation and other liability. Workers' Compensation Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2020 Years Ended December 31, Total of IBNR Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 13,271 13,825 15,426 16,280 16,004 16,197 16,738 17,090 17,078 17,276 1,082 2,337 2012 20,397 20,948 19,699 20,176 19,235 18,778 18,898 18,967 18,933 1,290 2,229 2013 22,746 22,879 22,650 19,772 19,528 19,426 19,814 19,964 1,655 2,496 2014 22,357 20,686 19,781 19,394 17,967 18,025 18,049 1,723 2,740 2015 22,643 23,830 23,444 21,788 22,218 19,560 1,942 3,945 2016 30,710 29,261 27,674 25,430 23,063 3,261 8,677 2017 35,683 29,107 25,713 24,439 4,075 13,230 2018 40,122 34,478 34,321 7,288 10,943 2019 48,565 45,384 13,504 9,820 2020 55,960 26,003 9,501 $ 276,949 Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance Years Ended December 31, Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 3,922 8,642 12,287 13,534 14,428 15,025 15,690 16,048 16,532 16,621 2012 6,100 11,854 14,292 15,902 16,683 17,426 17,951 18,164 18,329 2013 6,734 12,407 15,703 17,135 18,448 18,664 18,976 18,906 2014 5,958 11,672 14,393 16,011 16,177 16,535 16,607 2015 6,089 13,313 15,814 17,002 17,638 17,984 2016 7,260 15,329 17,904 18,728 19,856 2017 7,439 15,017 17,930 19,353 2018 8,978 19,811 24,023 2019 11,201 24,472 2020 12,141 188,292 All outstanding liabilities before 2011, net of reinsurance 5,459 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 94,116 Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance* Years 1 2 3 4 5 6 7 8 9 10 27.4 % 32.6 % 15.4 % 7.9 % 5.1 % 3.0 % 2.0 % 1.3 % 1.7 % 0.5 % * Presented as unaudited required supplementary information Other Liability Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2020 Years Ended December 31, Total of IBNR Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 1,126 1,075 1,124 1,076 1,406 1,447 1,469 1,537 1,509 1,594 46 383 2012 1,442 880 973 863 1,092 1,278 1,745 1,721 1,717 250 456 2013 1,914 1,876 1,617 1,580 1,804 2,068 1,651 1,667 345 343 2014 2,183 1,964 1,921 2,154 3,107 3,013 2,832 779 434 2015 2,946 2,652 2,862 3,549 3,334 2,860 1,260 440 2016 2,689 2,794 3,135 3,180 2,735 1,677 323 2017 4,964 3,089 4,555 3,966 2,521 304 2018 4,256 4,278 3,010 2,286 218 2019 5,457 2,849 2,512 92 2020 2,932 2,789 46 $ 26,162 Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance Years Ended December 31, Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 31 171 338 369 771 1,116 1,189 1,261 1,353 1,505 2012 42 141 187 346 512 761 1,146 1,234 1,374 2013 65 195 281 573 798 1,048 1,153 1,215 2014 53 233 405 639 1,067 1,687 1,884 2015 123 374 600 945 1,187 1,258 2016 54 137 355 558 783 2017 52 439 676 999 2018 52 345 504 2019 111 170 2020 55 9,747 All outstanding liabilities before 2011, net of reinsurance 207 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 16,622 Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance* Years 1 2 3 4 5 6 7 8 9 10 2.4 % 7.1 % 6.9 % 9.1 % 12.7 % 16.8 % 13.8 % 11.0 % 7.8 % 6.0 % * Presented as unaudited required supplementary information All Other Lines Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2020 Years Ended December 31, Total of IBNR Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 59 23 86 222 210 210 212 207 206 206 — 3,818 2012 18 3 25 14 4 2 3 2 1 — 2,708 2013 1 — 13 9 10 12 — — — 3,068 2014 40 127 24 23 21 16 16 — 3,791 2015 168 132 108 113 98 98 — 5,122 2016 1,882 1,617 1,745 1,555 1,542 11 10,063 2017 2,852 2,917 2,417 2,442 34 15,892 2018 2,885 2,874 2,549 115 13,993 2019 3,756 3,367 266 12,509 2020 4,842 1,237 11,479 $ 15,063 Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance Years Ended December 31, Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 1 2 6 204 206 206 206 206 206 206 2012 1 1 1 1 1 1 1 1 1 2013 — — — — — — — — 2014 — 100 16 16 16 16 16 2015 63 98 98 99 98 98 2016 796 1,325 1,418 1,494 1,499 2017 1,412 2,099 2,203 2,321 2018 1,309 2,123 2,325 2019 1,903 2,532 2020 2,291 11,289 All outstanding liabilities before 2011, net of reinsurance 68 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 3,842 Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance* Years 1 2 3 4 5 6 7 8 9 10 51.6 % 29.4 % 7.5 % 7.5 % 1.6 % 2.3 % — % — % — % — % * Presented as unaudited required supplementary information Total Lines Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2020 Years Ended December 31, Total of IBNR Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 14,456 14,923 16,636 17,578 17,620 17,854 18,419 18,834 18,793 19,076 1,128 6,538 2012 21,857 21,831 20,697 21,053 20,331 20,058 20,646 20,690 20,651 1,540 5,393 2013 24,661 24,755 24,280 21,361 21,342 21,506 21,465 21,631 2,000 5,907 2014 24,580 22,777 21,726 21,571 21,095 21,054 20,897 2,502 6,965 2015 25,757 26,614 26,414 25,450 25,650 22,518 3,202 9,507 2016 35,281 33,672 32,554 30,165 27,340 4,949 19,063 2017 43,499 35,113 32,685 30,847 6,630 29,426 2018 47,263 41,630 39,880 9,689 25,154 2019 57,778 51,600 16,282 22,421 2020 63,734 30,029 21,026 $ 318,174 Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance Years Ended December 31, Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 3,954 8,815 12,631 14,107 15,405 16,347 17,085 17,515 18,091 18,332 2012 6,143 11,996 14,480 16,249 17,196 18,188 19,098 19,399 19,704 2013 6,799 12,602 15,984 17,708 19,246 19,712 20,129 20,121 2014 6,011 12,005 14,814 16,666 17,260 18,238 18,507 2015 6,275 13,785 16,512 18,046 18,923 19,340 2016 8,110 16,791 19,677 20,780 22,138 2017 8,903 17,555 20,809 22,673 2018 10,339 22,279 26,852 2019 13,215 27,174 2020 14,487 209,328 All outstanding liabilities before 2011, net of reinsurance 5,734 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 114,580 Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance* Years 1 2 3 4 5 6 7 8 9 10 26.5 % 29.7 % 13.7 % 7.6 % 5.9 % 4.3 % 3.3 % 2.0 % 2.2 % 1.0 % * Presented as unaudited required supplementary information The reconciliation of the net incurred and paid claims development tables to the liability for unpaid loss and loss adjustment expense in the consolidated balance sheets is as follows: December 31, 2020 2019 Net outstanding liabilities Workers' compensation $ 94,116 $ 74,722 Other liability 16,622 20,561 All other lines of business 3,842 2,896 Liabilities for unpaid loss and loss adjustment expense, net of reinsurance 114,580 98,179 Reinsurance recoverable on unpaid claims Workers' compensation 259,220 237,088 Other liability 43,592 41,873 All other lines of business 32,843 25,044 Total reinsurance recoverable on unpaid claims 335,655 304,005 Unallocated loss adjustment expenses 7,582 4,532 Total liability for unpaid loss and loss adjustment expenses $ 457,817 $ 406,716

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance The Company utilizes reinsurance contracts to reduce its exposure to losses in all aspects of its insurance business. Such reinsurance permits recovery of a portion of losses from reinsurers, although it does not relieve the Company from its primary liability to policyholders. Failure of reinsurers to honor their obligations could result in losses to the Company. The Company evaluates the financial strength of potential reinsurers and continually monitors the financial condition of its reinsurers. Amounts recoverable from reinsurers are estimated based upon assumptions consistent with those used in establishing the liabilities related to the underlying reinsured contracts. The Company has diversified its credit risk related to the reinsurance ceded. There were no disputes with reinsurers as of December 31, 2020 and 2019. The Company has no reinsurance recoverables deemed uncollectible during the years ended December 31, 2020, 2019 and 2018. The Company holds collateral on a funds held basis or requires collateral in a trust or as a letter of credit to secure recoverable balances from reinsurers not authorized in the insurance carriers state of domicile as follows: December 31, 2020 2019 Letters of credit $ 4,846 $ 65,877 Trust 123,807 32,207 Funds held 143,528 165,698 Total $ 272,181 $ 263,782 The Company has unsecured aggregate recoverable for losses, paid and unpaid, loss adjustment expenses and unearned premiums with the following individual reinsurers, authorized or unauthorized, exceeding 5 percent of stockholders’ equity: December 31, 2020 2019 Arch Reins Co $ 34,120 $ 36,551 Markel Global Reins Co 77,222 65,211 A summary of the impact of ceded reinsurance is as follows: Year Ended December 31, 2020 2019 Gross Assumed Ceded Net Gross Assumed Ceded Net Losses and LAE liabilities $ 445,867 $ 11,950 $ (335,655) $ 122,162 $ 392,233 $ 14,483 $ (304,005) $ 102,711 Unearned premiums 155,404 2,583 (107,971) 50,016 101,225 2,564 (80,088) 23,701 Written premiums 476,342 7,907 (352,252) 131,997 405,353 6,048 (325,837) 85,564 Earned premiums 424,136 7,898 (323,567) 108,467 391,312 6,491 (311,325) 86,478 Loss and loss adjustment expenses 211,096 2,579 (162,901) 50,774 208,560 1,871 (165,770) 44,661

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases Adoption of Leases, Topic 842 On January 1, 2020, the Company adopted ASU No. 2016-02, Leases (Topic 842) , and all related amendments under the modified retrospective approach. Under this transition approach, comparative prior periods, including disclosures, were not restated. The Company elected the transition package of practical expedients which, among other things, allowed the Company to carry forward historical lease classification. The Company chose not to elect the hindsight practical expedient. The Company has elected, as a practical expedient, to account for lease components and any non-lease components within a contract as a single lease component, and therefore allocates all of the expected lease payments to the lease component. The adoption of the standard did not have an impact on the Company's consolidated statements of operations and there was no adjustment to its retained earnings opening balance sheet as of January 1, 2020. The Company does not expect the adoption of the new standard to have a material impact on the Company's operating results on an ongoing basis. The most significant impact of the new lease standard was the recognition of right-of-use assets and lease liabilities for operating leases. On January 1, 2020, the adoption of the new standard resulted in the recognition of a right-of-use asset and total lease liability of $5,946. The Company's leases consist of operating leases for office space and equipment. The Company determines if an arrangement is a lease at inception. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Right-of-use assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease right-of-use assets are recognized at commencement date based on the present value of lease payments over the lease term. As the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Some of the Company's leases include options to extend the term, which is only included in the lease liability and right-of-use assets calculation when it is reasonably certain the Company will exercise that option. Our leases have remaining terms ranging from one month to 90 months, some of which have options to extend the lease for up to 5 years. As of December 31, 2020, the lease liability and right-of-use assets did not include the impact of any lease extension options as it is not reasonably certain that the Company will exercise the extension options. Total lease expense for the year ended December 31, 2020 was $2,501, inclusive of $362 in variable lease expense. The Company also sublets some of its leased office space and recorded $84 of sublease income for the year ended December 31, 2020, which is included in other income on the consolidated statement of operations. Total rent expense was $1,575 and $1,115 and sublease income was $90 and $309 for the years ended December 31, 2019 and 2018, respectively, which were recorded prior to the adoption of ASU 2016-02. Supplemental balance sheet information, the weighted average remaining lease term and weighted average discount rate related to leases were as follows: December 31, (dollars in thousands) 2020 Right of use asset $ 6,338 Lease liability $ 6,893 Weighted average remaining lease term 3.26 years Weighted average discount rate 6.37 % Future maturities of lease liabilities as of December 31, 2020 are as follows: Operating Leases 2021 $ 2,457 2022 2,363 2023 1,781 2024 929 2025 94 Thereafter — Total lease payments 7,624 Less: imputed interest (731) Total lease liabilities $ 6,893 The Company had the following minimum annual commitments for payment of leases as of December 31, 2019: Rent Expense 2020 $ 1,718 2021 1,614 2022 1,594 2023 1,191 2024 669 Thereafter 46 Total lease payments $ 6,832

Equity

Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Equity	Equity Initial Public Offering and Reorganization On July 20, 2020, Trean Insurance Group, Inc. closed the sale of 10,714,286 shares of its common stock in its IPO, comprised of 7,142,857 shares issued and sold by Trean Insurance Group, Inc. and 3,571,429 shares sold by selling stockholders. On July 22, 2020, Trean Insurance Group, Inc. closed the sale of an additional 1,207,142 shares by certain selling stockholders in the IPO pursuant to the exercise of the underwriters’ option to purchase additional shares to cover over-allotments. The IPO price per share was $15.00. The aggregate IPO price for all shares sold in the IPO was approximately $107,142 and the aggregate initial public offering price for all shares sold by the selling stockholders in the IPO was approximately $71,678. The shares began trading on the Nasdaq Global Select Market on July 16, 2020 under the symbol "TIG". The offer and sale was pursuant to a registration statement on Form S-1 (File No. 333-239291), which was declared effective by the SEC on July 15, 2020. Trean Insurance Group, Inc. received net proceeds from the sale of shares in the IPO of approximately $93,139 after deducting underwriting discounts and commissions of $7,500 and offering expenses of $6,503. Trean Insurance Group, Inc. did not receive any proceeds from the sale of shares by the selling stockholders. In addition, and in conjunction with its IPO, Trean Insurance Group, Inc. issued 6,613,606 shares of common stock, with a purchase price value of $99,204, to acquire the remaining 55% ownership in Compstar Holding Company LLC. See "Item 5 — Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities" for a detailed discussion of use of proceeds associated with the IPO. In conjunction with the IPO and corporate restructuring, the Company paid a termination payment to Altaris Capital Partners, LLC in connection with the termination of the Company's consulting and advisory agreements as well as paid bonuses to employees and pre-IPO unitholders for the successful completion of the IPO. The aggregate amount of these payments totaled $11,054 and is included in other expenses on the consolidated statement of operations. Prior to the completion of the above offering, the Company effected the following reorganization transactions: (i) each of Trean and BIC contributed all of their respective assets and liabilities to Trean Insurance Group, Inc., a newly formed direct subsidiary of BIC, in exchange for shares of common stock in Trean Insurance Group, Inc. and (ii) upon the completion of the transfers by Trean and BIC, Trean and BIC were dissolved and distributed in-kind common shares to the pre-IPO unitholders. Common Stock The Company currently has authorized 600,000,000 shares of common stock with a par value of $0.01. As of December 31, 2020, there were 51,148,782 shares of common stock issued and outstanding. Members' Equity Prior to the IPO, the Company had three classes of ownership units, each with its respective rights, preferences and privileges as follows: 1) Class A Units : Receive an allocation of profits and losses incurred by the Company as well as maintain the right to receive distributions, along with Class B Units, on a pro rata basis prior to distributions made to other classes of ownership units. 2) Class B Units : Receive an allocation of profits and losses incurred by the Company as well as maintain the right to receive distributions, along with Class A Units, on a pro rata basis prior to distributions made to other classes of ownership units. Class B maintains both voting and non-voting units. Each Class B Voting Unit is entitled to one vote per Class B Voting Unit on each matter to which the members are entitled to vote. Class B Non-Voting Units maintain all rights, preferences and privileges allowed to Class B Voting Units with the exception of voting rights. 3) Class C Units : Receive an allocation of profits and losses incurred by the Company. Participating Class C Units maintain the right to receive distributions after any Class A or Class B units based on the unit holders’ pro rata share. As part of the corporate reorganization performed in conjunction with the IPO of Trean Insurance Group, all ownership units were exchanged for a total of 37,386,394 shares of the Company's common stock. Redeemable Preferred Stock Trean Corp has designated and authorized 1,000,000 shares as Series A Redeemable Preferred Stock (Series A) which have no voting rights. The holder is entitled to receive annual cumulative dividends at 4.5% of the original cost per share. In the event of liquidation, dissolution, or winding up of the affairs of Trean Corp, liquidation distributions are made to preferred shareholders before common shareholders. Series A contained no conversion features. During 2019 the Company redeemed all of its remaining shares of Series A. Benchmark Holding Company has designated and authorized 1,000,000 shares as Series B Redeemable Preferred Stock (Series B) which have no voting rights. The holder is entitled to receive annual cumulative dividends as a percentage of the original cost per share or the actual earning on the invested funds. In the event of liquidation, dissolution, or winding up of the affairs of Benchmark Holding Company, liquidation distributions are made to preferred shareholders before common shareholders. Series B contains no conversion features. The liquidation preference and redemptive value of Series B is equivalent to its carrying value as of December 31, 2019. The Company classified the shares of Series B within temporary equity on the consolidated balance sheets as of December 31, 2019, due to the liquidation rights associated with the termination of the shareholder customer agreement. In conjunction with the IPO of Trean Insurance Group, Inc. on July 15, 2020, the Company redeemed all of its remaining shares of Series B. The cumulative dividends earned by Series B holders totaled $128 for the year ended December 31, 2020 which consist of the following (in thousands, except share and per share amounts): Year Ended December 31, 2020 Total Dividend Dividend per Share Weighted Dividends on preferred shares - Series B $ 128 $ 2,513.76 51.00 The cumulative dividends earned by Series A and Series B holders totaled approximately $254 and $225 for the years ended December 31, 2019 and 2018, respectively, which consist of the following (in thousands, except share and per share amounts): Year Ended December 31, 2019 Total Dividend Dividend per Share Weighted Dividends on preferred shares - Series A $ 43 $ 4,500.00 9.62 Dividends on preferred shares - Series B 211 3,506.84 60.00 Total preferred share dividends $ 254 Year Ended December 31, 2018 Total Dividend Dividend per Share Weighted Dividends on preferred shares - Series A $ 45 $ 4,500.00 10.00 Dividends on preferred shares - Series B 180 3,459.72 51.95 Total preferred share dividends $ 225

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share (EPS) is computed by dividing net income by the weighted average number of shares outstanding during reported periods. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock of the Company during reported periods and is calculated using the treasury stock method. As a result of the Company's third quarter IPO and corporate reorganization, the number of shares used to compute earnings per share for pre-reorganization 2019 periods presented was retrospectively adjusted to reflect the recapitalization in a manner akin to a split-like situation. The following table presents the calculation of basic and diluted EPS of common stock: Year Ended December 31, (in thousands, except share and per share amounts) 2020 2019 2018 Net income - basic and diluted $ 90,769 $ 31,285 $ 19,522 Weighted average number of shares outstanding - basic 43,744,003 37,386,394 37,386,394 Effect of dilutive securities: Restricted stock units 741 — — Dilutive shares 741 — — Weighted average number of shares outstanding - diluted 43,744,744 37,386,394 37,386,394 Earnings per share: Basic $ 2.08 $ 0.84 $ 0.52 Diluted $ 2.07 $ 0.84 $ 0.52 For the year ended December 31, 2020, a total of 89,920 stock options with an exercise price of $15.00 per share were excluded from the calculation of diluted EPS because the options' exercise price was greater than the average market price of common shares, resulting in an antidilutive effect.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following table presents the changes in accumulated other comprehensive income for unrealized gains and losses on available-for-sale securities: Year Ended December 31, 2020 2019 2018 Balance at beginning of period $ 4,821 $ (2,003) $ 951 Other comprehensive income, net of tax: Unrealized investment gains (losses): Unrealized investment gains (losses) arising during the period 6,218 8,708 (3,964) Income tax expense (benefit) 1,313 1,831 (832) Unrealized investment gains (losses), net of tax 4,905 6,877 (3,132) Less: reclassification adjustments to: Net realized investment gains (losses) included in net realized capital gains (losses) 252 67 (225) Income tax expense (benefit) 53 14 (47) Total reclassifications included in net income (loss), net of tax 199 53 (178) Other comprehensive income (loss) 4,706 6,824 (2,954) Balance at end of period $ 9,527 $ 4,821 $ (2,003)

Stock Compensation

Stock Compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Compensation	Stock Compensation As of December 31, 2020, the Company has one incentive plan, the Trean Insurance Group, Inc. 2020 Omnibus Incentive Plan, (the 2020 Omnibus Plan). The purposes of the 2020 Omnibus Plan are to provide additional incentive to selected officers, employees, non-employee directors, independent contractors, and consultants of the Company whose contributions are essential to the growth and success of the business of the Company and its affiliates, in order to strengthen the commitment and motivate such individuals to faithfully and diligently perform their responsibilities and attract competent and dedicated individuals whose efforts will result in the long-term growth and profitability of the Company and its affiliates. The 2020 Omnibus Plan is administered by the Company’s board of directors and provides for the issuance of up to 5,058,085 shares of the Company's common stock granted in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, stock bonuses, other stock awards or any combination of the foregoing. Stock Options Compensation expense is recognized for all stock compensation arrangements by the Company. Stock compensation expense related to stock option awards was $61 for the year ended December 31, 2020. Employee stock option awards granted set forth, among other things, the option exercise price, the option term, provisions regarding option exercisability and whether the option is intended to be an incentive stock option (ISO) or a nonqualified stock option (NQSO). Stock options may be granted to employees at such exercise prices as the Company’s board of directors may determine but not less than 100% of the fair market value of the underlying stock as of the date of grant. Employee options vest one third annually over a period of three years and have contractual terms of 10 years from the date of grant. The fair value of each time-based vesting option award is estimated on the date of grant using the Black-Scholes option pricing model that uses assumptions noted in the following table. The Company’s expected volatility for the period was based on a weighted average expected volatility of an industry peer group of insurance companies of similar size, life cycle and lines of business. Expected term is calculated using the simplified method taking into consideration the option's contractual life and vesting terms. The Company’s stock option grants qualify as plain vanilla options and as such the Company uses the simplified method in estimating its expected option term 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 shares have been publicly traded. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected dividend yields were not used in the fair value computations as the Company has never declared or paid dividends on its common stock and currently intends to retain earnings for use in operations. 2020 Expected volatility 29.8% Expected term 6 years Risk-free interest rate 0.47% A summary of the status of the Company's stock option activity as of December 31, 2020 and changes during the year then ended are as follows: Stock Options Weighted Average Exercise Price Balance outstanding, December 31, 2019 — $ — Granted 89,920 $ 15.00 Balance outstanding, December 31, 2020 89,920 $ 15.00 Options exercisable, December 31, 2020 — $ — The following table summarizes information regarding stock options outstanding as of December 31, 2020: Options Outstanding Options Vested or Expected to Vest Stock Options Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term Aggregate Intrinsic Value Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term Aggregate Intrinsic Value 2020 Omnibus Plan 89,920 $ 15.00 9.54 years $ — 89,920 $ 15.00 9.54 years $ — The weighted average grant-date fair value of options granted in the year ended December 31, 2020 was $4.43. The estimated fair value of restricted stock units is based on the grant date closing price of the Company's stock for time-based vesting awards. As of December 31, 2020, total unrecognized compensation cost related to stock options was $337 and is expected to be recognized over a weighted average period of approximately 1.4 years. Restricted Stock Units Compensation expense relating to restricted stock unit grants was $445 for the year ended December 31, 2020. As of December 31, 2020 there was $1,402 of total unrecognized compensation cost related to non-vested restricted stock unit grants. That cost is expected to be recognized over a weighted average expected life of 2.5 years. The total fair value of restricted stock units vested during the year ended December 31, 2020 was $174. The Company has granted restricted stock units to certain key employees as part of the Company's long-term incentive program. The restricted stock underlying these awards generally vests in three equal annual installments beginning one year from the grant date and is amortized as compensation expense over the three twelve A summary of the status of the Company’s non-vested restricted stock unit activity as of December 31, 2020 and changes during the year then ended is as follows: Shares Weighted Average Grant Date Fair Value Non-vested outstanding, December 31, 2019 — $ — Granted 122,828 $ 15.04 Vested (11,240) $ 15.51 Non-vested outstanding, December 31, 2020 111,588 $ 14.99

Regulatory Matters

Regulatory Matters	12 Months Ended
	Dec. 31, 2020
Regulated Operations [Abstract]
Regulatory Matters	Regulatory MattersU.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 permit statutory accounting practices that differ from prescribed practices. Statutory accounting practices prescribed or permitted by regulatory authorities for the Company’s insurance company subsidiaries, Benchmark, ALIC and 7710 differ from GAAP. The principal differences between statutory accounting practices ("SAP") and GAAP as they relate to the financial statements of Benchmark, ALIC and 7710 are (i) policy acquisition costs are expensed as incurred under SAP, whereas they are deferred and amortized under GAAP, (ii) deferred tax assets are subject to more limitations regarding what amounts can be recorded under SAP and (iii) bonds are recorded at amortized cost under SAP and fair value under GAAP. Benchmark is domiciled in Kansas, ALIC is domiciled in Utah and 7710 is domiciled in South Carolina. As of December 31, 2020 and 2019, and during the years then ended, Benchmark, ALIC and 7710 met all regulatory requirements of the states in which they operate. Risk-based capital ("RBC") requirements as promulgated by the National Association of Insurance Commissioners ("NAIC") require property and casualty insurers to maintain minimum capitalization levels determined based on formulas incorporating various business risks (e.g. investment risk, underwriting profitability, etc.) of the insurance company subsidiaries. As of December 31, 2020 and 2019, the insurance company subsidiaries’ adjusted capital and surplus exceeded their authorized control level as determined by the NAIC’s risk-based capital models. Summarized statutory basis information, which differs from GAAP, is shown below for Benchmark, ALIC and 7710. 2020 (in thousands, except percentages) Benchmark ALIC 7710 Statutory capital and surplus $ 173,241 $ 6,284 $ 6,370 RBC authorized control level 14,379 523 1,265 Statutory net income 20,475 111 519 RBC percentage 1205 % 1202 % 504 % 2019 (in thousands, except percentages) Benchmark ALIC Statutory capital and surplus $ 135,941 $ 5,947 RBC authorized control level 13,862 733 Statutory net income 23,475 266 RBC percentage 981 % 811 % The amount of dividends that our insurance subsidiaries may pay in any twelve-month period, without prior approval by their respective domestic insurance regulators, is restricted under the laws of Kansas, California, Utah and South Carolina. Under Kansas and California law, dividends payable from Benchmark without the prior approval of the applicable insurance commissioner must not exceed the greater of (i) 10% of Benchmark’s surplus as shown on the last statutory financial statement on file with the Kansas Insurance Department and the California Department of Insurance, respectively, or (ii) 100% of net income during the applicable twelve-month period (not including realized capital gains). Dividends shall not include pro rata distributions of any class of Benchmark's own securities. For the years ended December 31, 2020 and 2019 the Company could approve dividends without the approval of the state up to $23,475 and $13,551, respectively. The Kansas Insurance Department does not have any limitations on the total amount of dividends paid. Under Utah law, dividends payable from ALIC without the prior approval of the applicable insurance commissioner must not exceed the lesser of (i) 10% of ALIC’s surplus as shown on the last statutory financial statement on file with the Utah Insurance Department (ii) 100% of net income during the applicable twelve- month period (not including realized capital gains). Dividends shall not include pro rata distributions of any class of ALIC's own securities. For the years ended December 31, 2020 and 2019 the Company could approve dividends without the approval of the state up to $266 and $467, respectively. Under South Carolina law, dividends payable from 7710 without the prior approval of the applicable insurance commissioner are limited to the following during the preceding twelve months: (a) when paid from other than earned surplus must not exceed the lesser of: (i) 10% of 7710's surplus as regards policyholders as shown in 7710’s most recent annual statement; or (ii) the net income, not including net realized capital gains or losses as shown in the 7710's most recent annual statement; or (b) when paid from earned surplus must not exceed the greater of: (i) 10% of 7710's surplus as regards policyholders as shown in 7710’s most recent annual statement; or (ii) the net income, not including net realized capital gains or losses as shown in the 7710's most recent annual statement. Dividends shall not include pro rata distributions of any class of 7710’s own securities. For the year ended December 31, 2020 the Company could approve dividends without the approval of the state up to $118.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit PlanThe Company has a 401(k) Plan and Trust. This Plan covers all eligible employees of the Company. An employee becomes eligible on the first day of each calendar quarter if they are at least 21 years old. Participants may elect to contribute from 1 percent up to 15 percent of their salary annually. The Company matches 50 percent of each dollar an employee contributes on the first 5 percent of compensation. In addition, under the safe-harbor plan, the Company contributes 3 percent of each participant's gross wages regardless of the employee's contributions. The Company may also make discretionary profit sharing contributions. The employees vest 25 percent per year of service beginning in the second full year of service. The Company contributed approximately $942, $721 and $662 to the plan for the years ended December 31, 2020, 2019 and 2018, respectively.

Commitment and Contingencies

Commitment and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesFrom time to time, the Company is subject to litigation related to its insurance business. Management does not believe that the Company is a party to any such pending litigation that would have a material adverse effect on its future operations.

Transactions with Related Parti

Transactions with Related Parties	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Transactions with Related Parties	Transactions with Related Parties In connection with our IPO, we entered into a director nomination agreement with the Altaris Funds, the Company's principal stockholder. So long as the Altaris Funds own 35% or more of our outstanding common stock, the Altaris Funds will have the right (but not the obligation) to nominate three individuals to our board of directors; so long as the Altaris Funds own 20% or more but less than 35% of our outstanding common stock, the Altaris Funds will have the right (but not the obligation) to nominate two individuals to our board of directors; and so long as the Altaris Funds own 10% or more but less than 20% of our outstanding common stock, the Altaris Funds will have the right (but not the obligation) to nominate one individual to our board of directors. Prior to the IPO, the Company paid a management fee to the Altaris Funds totaling $500, $1,000 and $1,000 for the years ended December 31, 2020, 2019 and 2018, respectively, which is included in general and administrative expenses on the consolidated statement of operations. In conjunction with the IPO, the Company paid a termination fee to the Altaris Funds totaling $7,639, which is included in other expenses on the consolidated statement of operations. As of December 31, 2019, the Company owed the Altaris Funds $83, which is included within accounts payable and accrued expenses on the 2019 consolidated balance sheet. The Company was owed amounts from TRI of $14 as of December 31, 2019, which is included in related party receivables on the consolidated balance sheet. The Company recorded and $200, $200 and $144 of revenue for consulting services provided to TRI for the years ended December 31, 2020, 2019 and 2018, respectively. Effective July 15, 2020, Trean Compstar Holdings LLC purchased the remaining ownership interest in Compstar (See Note 3). Prior to the acquisition, the Company owned a 45% interest in Compstar, a program manager that handles the underwriting, premium collection and servicing of insurance policies for the Company. The Company recorded $90,199 of gross earned premiums resulting in gross commissions of $17,709 for the year ended December 31, 2020 prior to the acquisition. The Company recorded $176,083 and $116,584 of gross earned premiums resulting in gross commissions of $37,034 and $24,711 due to Compstar for the years ended December 31, 2019 and 2018, respectively. All receivables are stated net of the commissions due under the Program Manager Agreement and totaled $22,207 as of December 31, 2019 which is recorded in related party receivables on the consolidated balance sheets.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Events or transactions that occur after the balance sheet date, but before the consolidated financial statements are complete, are reviewed by the Company to determine if they are to be recognized and/or disclosed as appropriate. Any effects of subsequent events that provide additional evidence about conditions that existed at the consolidated balance sheet date, including the estimates inherent in the process of preparing the consolidated financial statements, are recognized in the consolidated financial statements.

Schedule II. Condensed Financia

Schedule II. Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Schedule II. Condensed Financial Information of Registrant	Schedule II. Condensed Financial Information of Registrant Trean Insurance Group, Inc. Condensed Balance Sheet (in thousands, except share data) December 31, 2020 Assets Investment in subsidiaries $ 252,607 Total investments 252,607 Cash and cash equivalents 683 Income taxes receivable 4,579 Intercompany receivables 152,643 Deferred tax asset 257 Total assets $ 410,769 Liabilities Accounts payable and accrued expenses $ 662 Total liabilities 662 Stockholders' equity Common stock, $0.01 par value per share (600,000,000 authorized; 51,148,782 issued and outstanding) 511 Additional paid-in capital 287,110 Retained earnings 112,959 Accumulated other comprehensive income 9,527 Total stockholders' equity 410,107 Total liabilities and stockholders' equity $ 410,769 Schedule II. Condensed Financial Information of Registrant - (Continued) Trean Insurance Group, Inc. Condensed Statement of Operations (in thousands) Year Ended December 31, 2020 Revenues Other revenue $ 300 Total revenue 300 Expenses General and administrative expenses 1,118 Other expenses 11,054 Noncash stock compensation 506 Interest expense 299 Total expenses 12,977 Loss before taxes (12,677) Income tax benefit (1,993) Loss before equity earnings of subsidiaries (10,684) Equity earnings of subsidiaries 101,453 Net income $ 90,769 Schedule II. Condensed Financial Information of Registrant - (Continued) Trean Insurance Group, Inc. Condensed Statement of Cash Flows (in thousands) Year Ended December 31, 2020 Operating activities Net income $ 90,769 Adjustments to reconcile net income to net cash from operating activities: Stock compensation 506 Equity (earnings) losses in subsidiaries (101,453) Deferred income taxes (257) Changes in operating assets and liabilities: Premiums and other receivables 300 Other assets (665) Accounts payable and accrued expenses 662 Income taxes payable (4,579) Intercompany receivables (7,099) Net cash used in operating activities (21,816) Investing activities Capital contributions to subsidiaries (71,489) Net cash used for investing activities (71,489) Financing activities Shares redeemed for payroll taxes (82) Proceeds from initial public offering 99,643 Deferred offering costs (5,839) Cash contributed in formation of the Company 266 Net cash provided by financing activities 93,988 Net increase in cash, cash equivalents and restricted cash 683 Cash, cash equivalents and restricted cash ‑ beginning of period — Cash, cash equivalents and restricted cash ‑ end of period $ 683

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Use of estimates	Use of estimates While preparing the consolidated financial statements, the Company has made certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements, as well as reported amounts of revenue and expenses during the reporting period. Accordingly, actual results could differ from those estimates. Reported amounts that require extensive use of estimates include the reserves for unpaid losses and loss adjustment expenses (LAE), reinsurance recoverables, investments, goodwill and intangible assets. Except for the captions on the consolidated balance sheets and consolidated statements of comprehensive income, generally, the term loss(es) is used to collectively refer to both losses and LAE.
Accounting pronouncements	Accounting pronouncements Recently adopted policies In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (ASU 2020-04). This update provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. This standard is effective for the period between March 12, 2020 and December 31, 2022. The adoption of this standard did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (ASU 2018-13). This update modifies the existing requirements on fair value measurements in Topic 820 by changing the disclosure requirements regarding Level 1, Level 2 and Level 3 investments. The Company adopted this standard effective January 1, 2020 on a prospective basis. The adoption of this standard did not have a material impact on the consolidated financial statements. In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10). The amendments in this ASU provide clarification on certain aspects related to the guidance issued in ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The areas for correction or improvement include (1) equity securities without a readily determinable fair value - discontinuation; (2) equity securities without a readily determinable fair value - adjustments; (3) forward contracts and purchased options; (4) presentation requirements for certain fair value option liabilities; (5) fair value option liabilities denominated in a foreign currency; and (6) transition guidance for equity securities without a readily determinable fair value. The Company adopted this standard effective January 1, 2019 on a prospective basis. The adoption of this standard did not have a material impact on the consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . This update clarifies the definition of a business when evaluating whether transactions should be accounted for as an acquisition (or disposal) of a business or assets. The Company adopted this standard effective January 1, 2019. The adoption of this standard did not have a material impact on the consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (ASU 2017-04). This update simplifies the manner in which an entity is required to test goodwill for impairment. ASU 2017-04 is effective for annual periods beginning after December 15, 2021, including interim periods thereafter, with early adoption permitted. The Company has elected to early adopt this standard effective January 1, 2020. Adoption of this standard did not have a material impact on the consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016‑02, Leases (Topic 842) (ASU 2016-02), which provides guidance for accounting for leases. The new guidance requires companies to recognize the assets and liabilities for the rights and obligations created by leased assets, initially measured at the present value of lease payments. Management adopted this standard effective January 1, 2020 under the modified retrospective approach. Adoption of this standard resulted in the Company recognizing initial right-of-use assets of $5,946 and initial lease liabilities of $5,946 and did not result in a cumulative effect adjustment on retained earnings. The adoption of this standard did not have a material impact on the consolidated statements of operations or consolidated statements of cash flows. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). This update substantially revises standards for the recognition, measurement and presentation of financial instruments. This standard revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. This requires the change in the value of equity securities to be reflected within the Company’s net income. The standard also amends certain disclosure requirements associated with the fair value of financial instruments. The Company adopted this standard effective January 1, 2019. The adoption of this standard did not have a material impact on the consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) of the Accounting Standards Codification (ASC). Insurance contracts are excluded from the scope of this guidance. The core principle of ASC Topic 606 is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration the entity receives or expects to receive. The Company adopted this standard effective January 1, 2019 using the modified retrospective approach to all contracts. The cumulative effect of adopting the standard resulted in an increase to the opening balance of retained earnings of $695, with offsetting changes to other assets and deferred tax asset. The cumulative effect adjustment recorded to other assets is related to the recording of brokerage revenue. Under ASC Topic 606, the Company is required to estimate the full contractual revenues at contract inception, subject to a constraint, which resulted in accelerated revenue recognition versus the previous revenue recognition patterns. The 2018 comparative period information was not restated and will continue to be reported under the legacy accounting standards that were in effect for those periods. The impact of adopting ASC Topic 606 on the Company’s consolidated statement of operations is summarized as follows: Year Ended December 31, 2019 Legacy GAAP ASC Topic 606 Impact As Reported Other revenue $ 8,925 $ 200 $ 9,125 Total revenue 102,315 200 102,515 Income before taxes 34,601 200 34,801 Income tax expense 7,028 46 7,074 Net income $ 31,131 $ 154 $ 31,285 The impact of adopting ASC Topic 606 on the Company's consolidated balance sheet is summarized as follows: December 31, 2019 Legacy GAAP ASC Topic 606 Impact As Reported Assets Deferred tax asset $ 1,621 $ (254) $ 1,367 Other assets 2,020 1,103 3,123 Members' Equity Retained earnings $ 39,512 $ 849 $ 40,361 The impact on the Company’s consolidated balance sheet as of January 1, 2019 related to the adoption of ASC Topic 606 using the modified retrospective approach as discussed above is as follows: Adjustments December 31, 2018 ASC Topic 606 January 1, 2019 Assets Deferred tax asset $ 1,823 $ (208) $ 1,615 Other assets 1,963 903 2,866 Members' Equity Retained earnings $ 9,779 $ 695 $ 10,474 In November 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-18, Restricted Cash , which amended Statement of Cash Flows (Topic 230) of the Accounting Standards Codification. ASC Topic 230 requires amounts generally described as restricted cash and restricted cash equivalents to be included within cash and cash equivalents in the consolidated statement of cash flows. During 2018, the Company elected to adopt this standard effective January 1, 2018. The adoption did not have a material effect on the consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, Topic 220 (ASU 2018-02), which amends ASC Topic 220 and ASC Topic 740 by addressing the amounts included within Accumulated Other Comprehensive Income ("AOCI") which may result from the enactment of the 2017 Tax Act. Though AOCI is presented on a net-of-tax basis, ASC Topic 740 requires that the effects of new tax laws on items in AOCI be recognized without a corresponding adjustment to AOCI and instead recorded in income tax expense. ASU 2018-02 permits amounts included within AOCI specifically resulting from the 2017 Tax Act to be removed from AOCI and reclassified to retained earnings. During 2018, the Company elected to adopt this standard effective January 1, 2018. The adoption did not have a material effect on the consolidated financial statements. Pending policies The Company completed its IPO in July 2020, and is an emerging growth company as defined under federal securities laws. As such, the Company has elected to adopt pending accounting policies under the dates required for private companies. Therefore, the dates included within this section reflect the effective dates for the adoption of new accounting policies required by private companies. In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments (ASU 2020-03). This update represents changes to clarify and improve the codification to allow for easier application by eliminating inconsistencies and providing clarification on items such as (i) the application of fair value option disclosures; (ii) the accounting for fees related to modifications of debt; and (iii) aligning the contractual term of a net investment in a lease in accordance with ASC Topic 326, Financial Instruments - Credit Losses , and the lease term determined in accordance with ASC Topic 842, Leases . Certain issues addressed in this update are effective for annual periods beginning after December 15, 2020 and others are effective for annual periods beginning after December 15, 2022. The Company will adopt each standard upon their respective effective dates of January 1, 2021 and January 1, 2023. Adoption of this standard is not expected to have a material impact on the consolidated financial statements. In January 2020, the FASB issued ASU No. 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivative and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323 and Topic 815 (ASU 2020-01). This update addresses the accounting for certain equity securities upon the application or discontinuation of the equity method of accounting. Further, the update addresses scope considerations for forward contracts and purchased options on certain securities. ASU 2020-01 is effective for annual periods beginning after December 15, 2021, including interim periods thereafter. The Company will adopt this standard effective January 1, 2022. Adoption of this standard is not expected to have a material impact on the consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments (ASU 2016-13). This update requires financial assets measured at amortized cost to be presented at the net amount expected to be collected by means of an allowance for credit losses that runs through net income. Additionally, credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses, with the amount of the allowance limited to the amount by which the fair value is below the amortized cost. ASU 2016-13 is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. The Company will adopt this standard effective January 1, 2023. The Company is currently evaluating the impact of this standard on the consolidated financial statements.
Cash and cash equivalents	Cash and cash equivalents: Cash and cash equivalents consist of all cash accounts, money market investments, and investments with maturities, at the time of acquisition, of 90 days or less. These amounts are carried at cost, which approximates fair value. Although the Company maintains its cash accounts in a limited number of commercial banks, management of the Company believes it is not exposed to any significant credit risk on cash and short-term investments.
Investments	Investments: Investment securities, consisting of fixed maturities, are classified as available-for-sale and reported at fair value. The change in unrealized gain and loss on fixed maturity investments is recorded as a component of accumulated other comprehensive income in the consolidated balance sheets, net of the related deferred tax effect, until realized. The change in unrealized gain and loss on equity securities is recorded as a component of net income and is included in net investment income on the consolidated statements of operations. Realized gains and losses from the sale of available-for-sale securities are determined on a specific-identification basis and included in net realized capital gains (losses) on the consolidated statement of operations on the trade date. The Company amortizes any premium or discount on fixed maturities over the remaining maturity period of the related securities and reports the amortization in net investment income. Dividend and interest income is recognized when earned. The Company regularly reviews its investment portfolio to determine if other-than-temporary impairment exists for any debt securities. An investment is impaired when the fair value of the investment declines to an amount less than the cost or amortized cost of that investment. As part of the assessment process, the Company determines whether the impairment is temporary or other-than-temporary. The assessment is based on both quantitative criteria and qualitative information, considering a number of factors including, but not limited to: how long the security has been impaired; the amount of the impairment; or whether management intends to sell the debt security or it is more likely than not that management will have to sell the security before recovery of the amortized cost; the financial condition and near-term prospects of the issuer; whether the issuer is current on contractually-obligated interest and principal payments; key corporate events pertaining to the issuer and whether the market decline was affected by macroeconomic conditions. If a debt security is impaired and management intends to sell the security or it is more likely than not that the Company will have to sell the security before the amortized cost is recovered, then the Company recognizes impairment loss in net realized capital gains (losses). If it is determined that an impairment of a debt security is other-than-temporary and management neither intends to sell the security nor is it more likely than not that the Company will have to sell the security before it is able to recover its cost or amortized cost, then the Company separates the impairment into (a) the amount of impairment related to credit loss and (b) the amount of impairment related to all other factors. The Company records the amount of the impairment related to the credit loss as an impairment charge in net income and the amount of the impairment related to all other factors in accumulated other comprehensive income. No other-than-temporary impairment was recorded for the years ended December 31, 2020, 2019 and 2018. A large portion of the Company’s investment portfolio consists of fixed maturities which may be adversely affected by changes in interest rates as a result of governmental monetary policies, domestic and international economic and political conditions and other factors beyond the Company’s control.
Equity method investments	Equity method investments: Certain investments where the Company does not have control but has the ability to exercise significant influence are accounted for by the equity method of accounting. Under this method, the Company's investments in certain limited liability companies are recorded at cost and the investment accounts are adjusted for the Company's share of the entities' income or loss and for the distributions and contributions. The income and losses are recorded within equity earnings (losses) in affiliates, net of tax on the consolidated statements of operations.
Premium revenue	Premium revenue: Premiums are earned over the policy period and are stated after deduction for reinsurance. The portion of premiums that will be earned in the future is deferred and reported as unearned premiums on the consolidated balance sheets.
Revenue from contracts with customers	Revenue from contracts with customers: Other revenue recorded by the Company includes brokerage, third-party administrative (TPA), management and consulting fees. The Company incurs certain costs associated with obtaining contracts with customers. Such contracts are one-year contracts and the amortization periods are one year or less. The Company has elected, as a practical expedient, to expense these contract costs as incurred. Brokerage revenue includes the fees earned on excess of loss (XOL) and quota share reinsurance treaties. Billings for brokerage revenues generally occur monthly. Revenue for reinsurance treaties consists of a single performance obligation whereas the total amount of consideration expected to be received is recorded on the effective date of the underlying contract. For XOL treaties, revenue is estimated based on the contractually specified minimum or deposit premiums. For quota share treaties, revenue is estimated based on the projected premium income provided by the ceding insurer. Brokerage fees are received based on the performance of the specified terms of the reinsurance treaty and thus, are considered variable consideration. Therefore, revenue is estimated and constrained to the extent it is probable a significant reversal of revenue will not occur, using the expected value method. Adjustments to revenue are recorded as additional evidence is received for the ultimate amount of brokerage earned under the contract. The Company acts as a third-party claims administrator and earns TPA fees for providing such services. The fee structures vary based on the specific contract and can be dependent upon a number of factors which typically include agreed-upon fee rates, the total amount of premium written or collected under the agreement and the total time and expense incurred for processing claims. Billings for TPA fees occur on a monthly basis. TPA services consist of a single performance obligation which is recognized over time as claims are processed throughout the contract period. The volume of claims varies throughout the contract period and, therefore, the Company has elected to record revenue in an amount that reflects the total fees that the Company has a right to invoice for during the period. The Company acts as a managing general agent (MGA) to provide certain administrative and underwriting services. The consideration received varies based on certain factors including the contractual MGA rate and the total amount of premium written or collected under the contract. Billings for management fees occur on a monthly basis. Management fees consist of a single performance obligation that are recognized by the Company over time as services are provided. The volume of premium written or collected for a single contract varies throughout the contract period and, therefore, the Company has elected to record revenue in an amount that reflects the total fees that the Company has a right to invoice for during the period. The Company provides consulting services for certain reinsurance contracts which includes services such as contract consultation and review. The compensation structure for consulting services is based on fixed periodic payments, generally monthly or quarterly. Consulting services consist of a single performance obligation which is recognized over the term of the consulting agreement.
Deferred financing costs	Deferred financing costs: Deferred financing costs are amortized as interest expense over the term of the underlying debt agreement by use of the effective interest method. Unamortized deferred financing costs are recorded as a reduction to long-term debt on the consolidated balance sheets.
Premiums and other receivables	Premiums and other receivables: Premiums receivable are uncollateralized customer obligations due under normal terms requiring payment by the policy due date. Amounts outstanding that are deemed uncollectible are written off. When payments are received on amounts previously written off, the total premiums written off is reduced in the period in which the payment is received. Advanced premiums are recognized when payment is received prior to the beginning coverage date and are included within unearned premiums on the consolidated balance sheets.
Deferred policy acquisition costs	Deferred policy acquisition costs: The Company incurs policy acquisition costs that vary with and are directly related to the production of new and renewal business. These costs consist of underwriting costs, net commissions (including ceding commissions) paid to agents, program managers and reinsurers, and premium taxes. Proceeds from reinsurance transactions that represent recovery of acquisition costs reduce applicable unamortized acquisition costs in such a manner that net acquisition costs are capitalized and charged to expense. Amortization of such policy acquisition costs is charged to general and administrative expense in proportion to premium earned over the estimated policy term. To the extent that unearned premium on existing policies are not adequate to cover the sum of expected losses, unamortized acquisition costs and policy maintenance costs, unamortized deferred policy acquisition costs are expensed to eliminate the premium deficiency. If the premium deficiency is greater than the unamortized policy acquisition costs, a liability is recorded. No premium deficiency exists as of December 31, 2020, 2019 and 2018.
Property and equipment, net	Property and equipment, net: Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is based on the estimated useful lives of the various classes of property and equipment and is determined based on the straight-line method. The estimated useful lives of property and equipment range from three Asset class Depreciation period Building and building improvements 30 years Furniture and fixtures 7 years Office equipment 5 years Software and computer equipment 3 years
Reserve for unpaid loss and loss adjustment expenses	Reserve for unpaid loss and loss adjustment expenses: The liability for unpaid losses and LAE in the consolidated balance sheets represent the Company’s estimated losses incurred that remain unpaid as of the balance sheet date. The liability is recorded on an undiscounted basis. Reserves for unpaid losses include estimates for both claims that have been reported and those that have been incurred but not reported. The estimated losses are regularly reviewed and adjusted as necessary based on historical experience and as the Company obtains new information. The consolidated balance sheets include reserves of unpaid losses gross of the amounts related to unpaid losses recoverable from reinsurers. The consolidated statements of operations include the losses net of amounts ceded to reinsurers.
Reinsurance	Reinsurance: The Company cedes all, or a portion of, its insurance in order to limit its maximum losses, diversify its exposure and provide statutory surplus relief. Ceding insurance does not relieve the Company of its primary liability to policyholders. The reinsurance agreements are short-term, prospective contracts, typically 12-months in duration. The Company records an asset, prepaid reinsurance premiums, and a liability, reinsurance premiums payable, for the contract amount when premium is written under the reinsurance agreements. Prepaid reinsurance premiums are amortized in the same manner in which unearned premium is recognized. The Company earns ceding commissions on certain reinsurance contracts, which reduces operating expenses. Ceding commissions are amortized over the contract period consistent with deferred policy acquisition costs. The Company records amounts recoverable from reinsurers on paid losses and estimated amounts recoverable on unpaid losses. The estimate of amounts recoverable on unpaid losses is based on unpaid losses in conjunction with the reinsured policies. The Company estimates uncollectible amounts receivable from reinsurers based on an assessment of factors including the credit worthiness of the reinsurers and the adequacy of collateral obtained, where applicable. The Company recorded no bad debt expense related to reinsurance during the years ended December 31, 2020, 2019 and 2018.
Income taxes	Income taxes: The Company recognizes deferred tax assets and liabilities for the future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which it is expected to recover or settle those temporary differences. Should a change in tax rates occur, the effect on deferred tax assets and liabilities will be recognized in operations in the period that includes the enactment date. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. The Company records any income tax penalties and income tax-related interest as income tax expense in the period incurred. The Company did not incur any material tax penalties or income-tax-related interest during the years ended December 31, 2020, 2019 and 2018.
Concentration of risk	Concentrations of risk: The Company had total gross written premiums of $484,249, $411,401 and $357,007 for the years ended December 31, 2020, 2019 and 2018, respectively, including: Year Ended December 31, 2020 2019 2018 California $ 203,421 $ 202,446 $ 153,611 Michigan 41,830 38,174 37,084 Texas 28,909 * * Arizona 27,950 34,215 28,350 Alabama 17,549 12,946 11,907 Mississippi 13,307 8,910 7,143 Georgia 12,869 * * Tennessee 12,347 8,065 7,809 Nevada 10,760 11,869 9,225 Pennsylvania 10,498 * * Other geographical areas 104,809 94,776 101,878 Total gross written premium $ 484,249 $ 411,401 $ 357,007 * The amount for the state is relevant for 2020 but not in other periods and therefore, was not presented. As of December 31, 2020, approximately 28% and 27% of the Company’s investment portfolio was comprised of securities issued in industrial and public utility bonds and mortgage-backed securities, respectively, compared to 36% and 21% as of December 31, 2019, respectively. All of these securities are investment grade. This portfolio is widely diversified among various issuers and industries and does not depend on the economic stability of one issuer and industry. As of December 31, 2019, approximately 8% of the Company’s net assets were comprised of the equity method investment in Compstar Holding Company LLC. During fiscal year 2020, the Company purchased the remaining ownership share of Compstar Holding Company LLC and no longer carries its investment under the equity method. The Company, from time to time, maintains its cash position at banks in excess of federally insured limits. The Company has not experienced any losses on such accounts.
Goodwill	Goodwill: Goodwill represents the cost to acquire a business over the fair value of the net assets acquired. Goodwill is not amortized but is reviewed for impairment at least annually or more frequently if events occur or circumstances change that would indicate that a triggering event for a potential impairment has occurred. The Company had $140,640 and $2,822 of goodwill on the consolidated balance sheets as of December 31, 2020 and 2019, respectively. An impairment loss would generally be recognized when the carrying amount of the reporting unit’s net assets exceeds the estimated fair value of the reporting unit. For the years ended December 31, 2020, 2019 and 2018, no impairment loss was recorded.
Intangible assets	Intangible assets: Acquired intangible assets include client relationships, customer lists, non-compete agreements and trade names acquired. Intangible assets with a finite life are amortized over the estimated useful life. In valuing these assets, assumptions are made regarding useful lives and projected growth rates and significant judgment is required. The Company periodically reviews identifiable intangibles for impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If the carrying amounts of the assets exceed their undiscounted cash flows, an impairment loss is recorded. For the years ended December 31, 2020, 2019 and 2018, no impairment loss was recorded.
Segment reporting	Segment reporting: Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker reviews financial information of the Company as a whole for purposes of assessing financial performance and making operating decisions. Accordingly, the Company considers itself to be operating as a single operating and reportable segment.
Fair value measurements	Fair Value Measurements The Company’s financial instruments include assets and liabilities carried at fair value. The inputs to valuation techniques used to measure fair value are prioritized into a three level hierarchy. The fair value hierarchy is as follows: Level 1 : Fair values primarily based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 : Fair values primarily based on observable inputs, other than quoted prices included in Level 1, or based on prices for similar assets and liabilities. Level 3 : Fair values primarily based on valuations derived when one or more of the significant inputs are unobservable. With little or no observable market, the determination of fair value uses considerable judgment and represents the Company’s best estimate of an amount that could be realized in a market exchange for the asset or liability. The Company classifies the financial asset or liability by level based upon the lowest level input that is significant to the determination of the fair value. The following tables present the estimated fair value of the Company’s significant financial instruments.

Business and Basis of Present_2

Business and Basis of Presentation (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Impact of ASC 606 Adoption	The impact of adopting ASC Topic 606 on the Company’s consolidated statement of operations is summarized as follows: Year Ended December 31, 2019 Legacy GAAP ASC Topic 606 Impact As Reported Other revenue $ 8,925 $ 200 $ 9,125 Total revenue 102,315 200 102,515 Income before taxes 34,601 200 34,801 Income tax expense 7,028 46 7,074 Net income $ 31,131 $ 154 $ 31,285 The impact of adopting ASC Topic 606 on the Company's consolidated balance sheet is summarized as follows: December 31, 2019 Legacy GAAP ASC Topic 606 Impact As Reported Assets Deferred tax asset $ 1,621 $ (254) $ 1,367 Other assets 2,020 1,103 3,123 Members' Equity Retained earnings $ 39,512 $ 849 $ 40,361 The impact on the Company’s consolidated balance sheet as of January 1, 2019 related to the adoption of ASC Topic 606 using the modified retrospective approach as discussed above is as follows: Adjustments December 31, 2018 ASC Topic 606 January 1, 2019 Assets Deferred tax asset $ 1,823 $ (208) $ 1,615 Other assets 1,963 903 2,866 Members' Equity Retained earnings $ 9,779 $ 695 $ 10,474

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Premiums and Other Receivables	Premiums and other receivables consist of the following: December 31, 2020 2019 Premiums receivable $ 106,708 $ 61,774 Trade receivables 2,824 1,053 Notes receivable 51 23 Total premiums and other receivables 109,583 62,850 Less: Allowance for doubtful accounts (366) (390) Net premiums and other receivables $ 109,217 $ 62,460
Summary of Property and Equipment	The depreciation periods by asset class are as follows: Asset class Depreciation period Building and building improvements 30 years Furniture and fixtures 7 years Office equipment 5 years Software and computer equipment 3 years Property and equipment consists of the following: December 31, 2020 2019 Land $ 1,780 $ 1,780 Building and building improvements 5,755 5,150 Furniture and fixtures 1,106 772 Office equipment 2,813 2,193 Other property, plant and equipment 93 72 Deposits on fixed assets not placed in service 15 366 Total, at cost 11,562 10,333 Less: Accumulated depreciation (3,308) (2,396) Property and equipment, net $ 8,254 $ 7,937
Schedules of Concentration of Risk, by Geography	The Company had total gross written premiums of $484,249, $411,401 and $357,007 for the years ended December 31, 2020, 2019 and 2018, respectively, including: Year Ended December 31, 2020 2019 2018 California $ 203,421 $ 202,446 $ 153,611 Michigan 41,830 38,174 37,084 Texas 28,909 * * Arizona 27,950 34,215 28,350 Alabama 17,549 12,946 11,907 Mississippi 13,307 8,910 7,143 Georgia 12,869 * * Tennessee 12,347 8,065 7,809 Nevada 10,760 11,869 9,225 Pennsylvania 10,498 * * Other geographical areas 104,809 94,776 101,878 Total gross written premium $ 484,249 $ 411,401 $ 357,007 * The amount for the state is relevant for 2020 but not in other periods and therefore, was not presented.

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2020
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the consideration paid and the amounts of estimated fair value of the net assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 12,140 Recognized amounts of identifiable assets acquired and liabilities assumed: Fixed maturities 895 Cash and cash equivalents 2,704 Accrued investment income 7 Premiums and other receivables 2,618 Reinsurance recoverable 5,069 Prepaid reinsurance premiums 920 Deferred policy acquisition costs 466 Property and equipment 22 Right of use asset 196 Goodwill 2,873 Intangible assets 3,299 Other assets 7,435 Unpaid loss and loss adjustment expenses (8,117) Unearned premiums (3,831) Funds held under reinsurance agreements (421) Accounts payable and accrued expenses (1,112) Lease liability (220) Deferred tax liabilities (394) Debt (269) Net assets acquired $ 12,140 The following table summarizes the consideration paid and the amounts of estimated fair value of the net assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 99,204 Previous investment in subsidiary 11,321 Fair value adjustment to prior investment 69,846 Fair value of assets acquired and liabilities assumed 180,371 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and cash equivalents 11,891 Premiums and other receivables 3,632 Property and equipment 444 Right of use asset 1,020 Goodwill 134,428 Intangible assets, net 73,954 Other assets 184 Accounts payable and accrued expenses (11,328) Lease liability (1,302) Deferred tax liabilities (12,487) Debt (20,065) Net assets acquired $ 180,371 Fair value of total consideration transferred $ 1,400 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and cash equivalents 302 Premiums and other receivables 55 Property and equipment 63 Goodwill 517 Intangible assets, net 482 Other assets 12 Accounts payable (17) Income taxes payable (14) Net assets acquired $ 1,400 The following table summarizes the consideration paid and the amounts of estimated fair value of the assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 5,314 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash 973 Investments 4,252 Accrued investment income 40 Premiums and other receivables 1,571 Deferred tax asset 242 Other assets 10 Funds held under reinsurance agreements 7,980 Unpaid loss and loss adjustment expenses (6,426) Unearned premiums (1,003) Reinsurance premiums payable (1,037) Accounts payable and accrued expenses (316) Income taxes payable (338) Net assets acquired 5,948 Gain on bargain purchase $ 634 The following table summarizes the consideration paid and the amounts of estimated fair value of the assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 2,450 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash 1,003 Property and equipment 194 Other assets 1 Goodwill 2,154 Accounts payable (902) Net assets acquired $ 2,450 The following table summarizes the consideration paid and the amounts of estimated fair value of the assets acquired and liabilities assumed at the acquisition date: Fair value of total consideration transferred $ 50 Recognized amounts of identifiable assets acquired and liabilities assumed: Equipment 10 Non-compete agreement 40 Net assets acquired $ 50
7710 Insurance Company
Business Acquisition [Line Items]
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	The Company also recorded preliminary intangible assets totaling $3,299 which are comprised of the following: Useful Life Balance Trade name 15 years $ 458 Customer relationships 10 years 2,841 Total intangible assets $ 3,299
Compstar Holding Company LLC
Business Acquisition [Line Items]
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	The Company also recorded preliminary intangible assets totaling $73,954, which are comprised of the following: Useful Life Balance Trade name 15 years $ 3,157 Customer relationships 14 years 70,797 Total intangible assets $ 73,954

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Summary of Fair Value Options	The following tables present the estimated fair value of the Company’s significant financial instruments. December 31, 2020 Level 1 Level 2 Level 3 Total Fixed maturities: U.S. government and government securities $ 17,471 $ — $ — $ 17,471 Foreign governments — 302 — 302 States, territories and possessions — 7,774 — 7,774 Political subdivisions of states territories and possessions — 33,212 — 33,212 Special revenue and special assessment obligations — 81,714 — 81,714 Industrial and public utilities — 113,741 — 113,741 Commercial mortgage-backed securities — 18,066 — 18,066 Residential mortgage-backed securities — 93,017 — 93,017 Other loan-backed securities — 39,945 — 39,945 Hybrid securities — 362 — 362 Total fixed maturities 17,471 388,133 — 405,604 Equity securities: Preferred stock — 240 — 240 Common stock 958 576 2,000 3,534 Total equity securities 958 816 2,000 3,774 Total investments $ 18,429 $ 388,949 $ 2,000 $ 409,378 Funds held under reinsurance agreements — 174,704 — 174,704 Debt: Secured credit facility — 32,381 — 32,381 Total debt $ — $ 32,381 $ — $ 32,381 December 31, 2019 Level 1 Level 2 Level 3 Total Fixed maturities: U.S. government and government securities $ 16,129 $ — $ — $ 16,129 Foreign governments — 302 — 302 States, territories and possessions — 4,923 — 4,923 Political subdivisions of states, territories and possessions — 25,104 — 25,104 Special revenue and special assessment obligations — 61,405 — 61,405 Industrial and public utilities — 123,207 — 123,207 Commercial mortgage-backed securities — 16,312 — 16,312 Residential mortgage-backed securities — 54,109 — 54,109 Other loan-backed securities — 36,011 — 36,011 Hybrid securities — 363 — 363 Total fixed maturities 16,129 321,736 — 337,865 Equity securities: Preferred stock — 343 — 343 Common stock — 492 — 492 Total equity securities — 835 — 835 Total investments $ 16,129 $ 322,571 $ — $ 338,700 Funds held under reinsurance agreements — 163,445 — 163,445 Debt: Junior subordinated debt — 7,732 — 7,732 Secured credit facility — 21,637 — 21,637 Total debt $ — $ 29,369 $ — $ 29,369

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Debt Securities, Available-for-sale	The cost or amortized cost, gross unrealized gains, gross unrealized losses, and estimated fair value of the Company's investments are as follows: December 31, 2020 Cost or Gross Gross Fair Value Fixed maturities: U.S. government and government securities $ 17,135 $ 336 $ — $ 17,471 Foreign governments 300 2 — 302 States, territories and possessions 7,500 274 — 7,774 Political subdivisions of states, territories and possessions 31,759 1,453 — 33,212 Special revenue and special assessment obligations 77,329 4,422 (37) 81,714 Industrial and public utilities 107,017 6,768 (44) 113,741 Commercial mortgage-backed securities 16,242 1,848 (24) 18,066 Residential mortgage-backed securities 91,478 1,626 (87) 93,017 Other loan-backed securities 39,293 719 (67) 39,945 Hybrid securities 356 6 — 362 Total fixed maturities available for sale 388,409 17,454 (259) 405,604 Equity securities: Preferred stock 243 — (3) 240 Common stock 1,554 2,053 (73) 3,534 Total equity securities 1,797 2,053 (76) 3,774 Total investments $ 390,206 $ 19,507 $ (335) $ 409,378 December 31, 2019 Cost or Gross Gross Fair Value Fixed maturities: U.S. government and government securities $ 15,965 $ 167 $ (3) $ 16,129 Foreign governments 299 3 — 302 States, territories and possessions 4,789 134 — 4,923 Political subdivisions of states, territories and possessions 24,444 670 (10) 25,104 Special revenue and special assessment obligations 59,149 2,298 (42) 61,405 Industrial and public utilities 119,735 3,490 (18) 123,207 Commercial mortgage-backed securities 15,586 757 (31) 16,312 Residential mortgage-backed securities 53,467 679 (37) 54,109 Other loan-backed securities 35,849 281 (119) 36,011 Hybrid securities 357 6 — 363 Total fixed maturities available for sale 329,640 8,485 (260) 337,865 Equity securities: Preferred stock 337 6 — 343 Common stock 492 — — 492 Total equity securities 829 6 — 835 Total investments $ 330,469 $ 8,491 $ (260) $ 338,700
Schedule of Continuous Unrealized Loss Position	The following table illustrates the Company’s gross unrealized losses and fair value of fixed maturities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position: December 31, 2020 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fixed maturities: U.S. government and government securities $ 4,518 $ — $ — $ — $ 4,518 $ — Foreign governments — — — — — — States, territories and possessions — — — — — — Political subdivisions of states, territories and possessions — — — — — — Special revenue and special assessment obligations 2,923 (37) — — 2,923 (37) Industrial and public utilities 2,106 (44) — — 2,106 (44) Commercial mortgage-backed securities 999 (24) — — 999 (24) Residential mortgage-backed securities 8,811 (74) 262 (13) 9,073 (87) Other loan-backed securities 2,037 (10) 9,036 (57) 11,073 (67) Hybrid securities 250 — — — 250 — Total bonds $ 21,644 $ (189) $ 9,298 $ (70) $ 30,942 $ (259) December 31, 2019 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fixed maturities: U.S. government and government securities $ 293 $ (2) $ 1,349 $ (1) $ 1,642 $ (3) Foreign governments — — — — — — States, territories and possessions — — — — — — Political subdivisions of states, territories and possessions 1,500 (9) 690 (1) 2,190 (10) Special revenue and special assessment obligations 3,206 (42) 181 — 3,387 (42) Industrial and public utilities 5,939 (16) 1,094 (2) 7,033 (18) Commercial mortgage-backed securities 2,138 (30) 129 (1) 2,267 (31) Residential mortgage-backed securities 6,936 (13) 1,917 (24) 8,853 (37) Other loan-backed securities 2,189 (11) 13,885 (108) 16,074 (119) Hybrid securities — — — — — — Total bonds $ 22,201 $ (123) $ 19,245 $ (137) $ 41,446 $ (260)
Summary of Investments by Contractual Maturity	The amortized cost and estimated fair value of fixed maturities as of December 31, 2020, by contractual maturity, are as follows: Cost or Amortized Cost Fair Value Available for sale: Due in one year or less $ 25,844 $ 26,107 Due after one year but before five years 102,491 107,516 Due after five years but before ten years 61,952 67,091 Due after ten years 51,109 53,862 Commercial mortgage-backed securities 16,242 18,066 Residential mortgage-backed securities 91,478 93,017 Other loan-backed securities 39,293 39,945 Total $ 388,409 $ 405,604
Sumnary of Realized Gain (Loss) on Investments	Realized gains and losses on investments included in the consolidated statements of operations for the years ended December 31, 2020, 2019 and 2018 are as follows: Year Ended December 31, 2020 2019 2018 Fixed maturities: Gains $ 259 $ 91 $ 111 Losses (7) (24) (201) Total fixed maturities 252 67 (90) Equity securities: Preferred stock: Losses — — (6) Equity method investments: Gains 3,115 — — Total equity securities 3,115 — (6) Total net investment realized gains (losses) $ 3,367 $ 67 $ (96)
Summary of Net Investment Income	Net investment income consists of the following for the years ended December 31, 2020, 2019, and 2018: Year Ended December 31, 2020 2019 2018 Fixed maturities $ 6,271 $ 6,078 $ 4,701 Preferred stock 48 40 25 Common stock 1,980 — — Interest earned on cash and short-term investments 25 127 90 Net investment income $ 8,324 $ 6,245 $ 4,816

Equity Method Investments (Tabl

Equity Method Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Summarized Financial Information	Summarized financial information for the Company's equity method investments are as follows: 2020 2019 2018 Total assets * $ 58,657 $ 60,202 Total liabilities * 42,980 44,476 Revenues * 24,010 24,267 Net income (loss) * 8,870 (1,150) *2020 amounts are not included as the Company no longer maintains an equity method investment in Compstar, TRI or Stop-Loss.

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	The depreciation periods by asset class are as follows: Asset class Depreciation period Building and building improvements 30 years Furniture and fixtures 7 years Office equipment 5 years Software and computer equipment 3 years Property and equipment consists of the following: December 31, 2020 2019 Land $ 1,780 $ 1,780 Building and building improvements 5,755 5,150 Furniture and fixtures 1,106 772 Office equipment 2,813 2,193 Other property, plant and equipment 93 72 Deposits on fixed assets not placed in service 15 366 Total, at cost 11,562 10,333 Less: Accumulated depreciation (3,308) (2,396) Property and equipment, net $ 8,254 $ 7,937

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying value of goodwill are as follows: 2020 2019 Balance at beginning of period $ 2,822 $ 2,822 Acquisitions 137,818 — Balance at end of period $ 140,640 $ 2,822
Schedule of Finite-Lived Intangible Assets	Intangible assets subject to amortization consist of the following: December 31, Useful Life 2020 2019 Non-compete agreement 2-4 years $ 44 $ 44 Trade name 6-15 years 3,682 67 Customer lists and relationships 10-14 years 74,284 164 Totals 78,010 275 Less: Accumulated amortization (2,694) (121) Intangible assets, net $ 75,316 $ 154
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated future amortization of intangible assets is as follows: Trade name Customer lists Total 2021 $ 248 $ 5,406 $ 5,654 2022 248 5,406 5,654 2023 241 5,405 5,646 2024 241 5,405 5,646 2025 241 5,405 5,646 Thereafter 2,306 44,764 47,070 Total $ 3,525 $ 71,791 $ 75,316

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Summary of Deferred Policy Acquisition Costs	The table below depicts the activity with regard to deferred policy acquisition costs, net: 2020 2019 2018 Balance at beginning of period $ 2,115 $ 2,976 $ 1,833 Policy acquisition costs deferred 7,593 14,646 8,279 Amortization charged to expense (8,376) (15,507) (7,136) Balance at end of period $ 1,332 $ 2,115 $ 2,976

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consist of the following: December 31, 2020 2019 Accrued commissions and third-party administration fees $ 5,391 $ 2,713 Trade payables 2,823 2,387 Accrued taxes, licenses and fees 4,527 4,313 Accrued wages and employee benefits 4,092 2,167 Amounts retained for the accounts of others 41,655 2,467 Litigation settlement 1,210 — Other liabilities 1,542 948 Total $ 61,240 $ 14,995

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following: December 31, 2020 2019 Junior subordinated debt $ — $ 7,732 Secured credit facility 32,381 21,637 Total debt 32,381 29,369 Less: unamortized deferred financing costs (744) (329) Net debt $ 31,637 $ 29,040
Schedule of Maturities of Debt	Scheduled maturities of debt, excluding deferred financing costs, are as follows: 2021 $ 1,444 2022 1,650 2023 2,887 2024 3,300 2025 23,100 Thereafter — Total debt $ 32,381

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	The following table presents the revenues recognized from contracts with customers included in the consolidated statements of operations. Year Ended December 31, 2020 2019 Brokerage $ 8,994 $ 5,828 Managing general agent fees 976 858 Third-party administrator fees 1,630 1,776 Consulting fees 504 663 Total revenue from contracts with customers $ 12,104 $ 9,125
Schedule of Contract with Customer, Contract Assets	Contract assets are included within other assets on the consolidated balance sheets. December 31, 2020 2019 Contract assets $ 3,405 $ 1,103

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Income tax expense is comprised of the following: Year Ended December 31, 2020 2019 2018 Current tax expense $ 7,291 $ 8,642 $ 5,618 Deferred tax expense (466) (1,568) (72) Total income tax expense $ 6,825 $ 7,074 $ 5,546
Schedule of Effective Income Tax Rate Reconciliation	The income tax expense differs from the expected income tax expense computed by applying the applicable federal statutory tax rates to pretax income as a result of the following: 2020 Effective Rate 2019 Effective Rate 2018 Effective Rate Income tax expense computed at statutory rate $ 20,005 21.0 % $ 7,309 21.0 % $ 5,492 21.0 % State taxes, net of federal benefit 577 0.6 % 293 0.8 % 201 0.8 % Tax-exempt municipal income, net of proration (272) (0.3) % (271) (0.8) % (328) (1.3) % Nondeductible IPO & potential buyer expenses 957 1.0 % 91 0.3 % — — % Fair market value adjustment on Compstar investment (14,668) (15.4) % — — % — — % Other 226 0.3 % (348) (1.0) % 181 0.7 % Total income tax expense $ 6,825 7.2 % $ 7,074 20.3 % $ 5,546 21.2 %
Schedule of Deferred Tax Assets and Liabilities	The significant components of deferred tax assets and liabilities are as follows: December 31, 2020 2019 Deferred tax assets: Unpaid losses and LAE $ 3,180 $ 2,671 Unearned premiums 2,101 995 NOL carryforward 118 352 Lease liability 1,789 — Accrued liabilities 189 190 Stock compensation 120 — Other 81 176 Total deferred tax assets 7,578 4,384 Deferred tax liabilities: Deferred acquisition costs (259) (444) Loss reserve discounting TCJA transitional adjustment (591) (675) Unrealized gains and losses on investments (2,556) (1,281) Property and equipment (389) (296) Right-of-use asset (1,667) — Intangible assets (13,271) (28) Unrealized gain on TRI investment (474) — Prepaid expenses (352) (52) Section 481(a) adjustment (224) (156) Other (124) (85) Total deferred tax liabilities (19,907) (3,017) Net deferred tax assets (liabilities) $ (12,329) $ 1,367

Liability for Unpaid Losses a_2

Liability for Unpaid Losses and Loss Adjustment Expense (Tables)	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Schedule of Liability for Unpaid Losses and Loss Adjustment Expense	The following table represents a reconciliation of changes in the liability for unpaid losses and LAE. Year Ended December 31, 2020 2019 2018 Unpaid losses and LAE reserves at beginning of period $ 406,716 $ 340,415 $ 277,671 Less losses ceded through reinsurance (304,005) (257,421) (206,323) Net unpaid losses and LAE at beginning of period 102,711 82,994 71,348 Acquisition of subsidiary, net of losses ceded through reinsurance 7,050 6,366 — Incurred losses and LAE related to: Current period 65,587 54,933 41,635 Prior period (14,813) (10,272) (5,906) Total incurred losses and LAE 50,774 44,661 35,729 Paid losses and LAE, net of reinsurance, related to: Current period 15,411 11,852 7,724 Prior period 22,962 19,458 16,359 Total paid losses and LAE 38,373 31,310 24,083 Net unpaid losses and LAE at end of period 122,162 102,711 82,994 Plus losses ceded through reinsurance 335,655 304,005 257,421 Unpaid losses and LAE reserves at end of period $ 457,817 $ 406,716 $ 340,415
Summary of Loss Development	The following tables represent cumulative incurred loss and allocated loss adjustment expenses, net of reinsurance by accident year and cumulative paid loss and allocated loss adjustment expenses, net of reinsurance by accident year, for the years ended December 31, 2011 to 2020, as well as total IBNR and the cumulative number of reported claims for the year ended December 31, 2020, by reportable line of business and accident year (dollars in thousands). The Company’s primary lines of business are workers’ compensation and other liability. Workers' Compensation Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2020 Years Ended December 31, Total of IBNR Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 13,271 13,825 15,426 16,280 16,004 16,197 16,738 17,090 17,078 17,276 1,082 2,337 2012 20,397 20,948 19,699 20,176 19,235 18,778 18,898 18,967 18,933 1,290 2,229 2013 22,746 22,879 22,650 19,772 19,528 19,426 19,814 19,964 1,655 2,496 2014 22,357 20,686 19,781 19,394 17,967 18,025 18,049 1,723 2,740 2015 22,643 23,830 23,444 21,788 22,218 19,560 1,942 3,945 2016 30,710 29,261 27,674 25,430 23,063 3,261 8,677 2017 35,683 29,107 25,713 24,439 4,075 13,230 2018 40,122 34,478 34,321 7,288 10,943 2019 48,565 45,384 13,504 9,820 2020 55,960 26,003 9,501 $ 276,949 Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance Years Ended December 31, Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 3,922 8,642 12,287 13,534 14,428 15,025 15,690 16,048 16,532 16,621 2012 6,100 11,854 14,292 15,902 16,683 17,426 17,951 18,164 18,329 2013 6,734 12,407 15,703 17,135 18,448 18,664 18,976 18,906 2014 5,958 11,672 14,393 16,011 16,177 16,535 16,607 2015 6,089 13,313 15,814 17,002 17,638 17,984 2016 7,260 15,329 17,904 18,728 19,856 2017 7,439 15,017 17,930 19,353 2018 8,978 19,811 24,023 2019 11,201 24,472 2020 12,141 188,292 All outstanding liabilities before 2011, net of reinsurance 5,459 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 94,116 Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance* Years 1 2 3 4 5 6 7 8 9 10 27.4 % 32.6 % 15.4 % 7.9 % 5.1 % 3.0 % 2.0 % 1.3 % 1.7 % 0.5 % * Presented as unaudited required supplementary information Other Liability Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2020 Years Ended December 31, Total of IBNR Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 1,126 1,075 1,124 1,076 1,406 1,447 1,469 1,537 1,509 1,594 46 383 2012 1,442 880 973 863 1,092 1,278 1,745 1,721 1,717 250 456 2013 1,914 1,876 1,617 1,580 1,804 2,068 1,651 1,667 345 343 2014 2,183 1,964 1,921 2,154 3,107 3,013 2,832 779 434 2015 2,946 2,652 2,862 3,549 3,334 2,860 1,260 440 2016 2,689 2,794 3,135 3,180 2,735 1,677 323 2017 4,964 3,089 4,555 3,966 2,521 304 2018 4,256 4,278 3,010 2,286 218 2019 5,457 2,849 2,512 92 2020 2,932 2,789 46 $ 26,162 Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance Years Ended December 31, Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 31 171 338 369 771 1,116 1,189 1,261 1,353 1,505 2012 42 141 187 346 512 761 1,146 1,234 1,374 2013 65 195 281 573 798 1,048 1,153 1,215 2014 53 233 405 639 1,067 1,687 1,884 2015 123 374 600 945 1,187 1,258 2016 54 137 355 558 783 2017 52 439 676 999 2018 52 345 504 2019 111 170 2020 55 9,747 All outstanding liabilities before 2011, net of reinsurance 207 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 16,622 Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance* Years 1 2 3 4 5 6 7 8 9 10 2.4 % 7.1 % 6.9 % 9.1 % 12.7 % 16.8 % 13.8 % 11.0 % 7.8 % 6.0 % * Presented as unaudited required supplementary information All Other Lines Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2020 Years Ended December 31, Total of IBNR Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 59 23 86 222 210 210 212 207 206 206 — 3,818 2012 18 3 25 14 4 2 3 2 1 — 2,708 2013 1 — 13 9 10 12 — — — 3,068 2014 40 127 24 23 21 16 16 — 3,791 2015 168 132 108 113 98 98 — 5,122 2016 1,882 1,617 1,745 1,555 1,542 11 10,063 2017 2,852 2,917 2,417 2,442 34 15,892 2018 2,885 2,874 2,549 115 13,993 2019 3,756 3,367 266 12,509 2020 4,842 1,237 11,479 $ 15,063 Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance Years Ended December 31, Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 1 2 6 204 206 206 206 206 206 206 2012 1 1 1 1 1 1 1 1 1 2013 — — — — — — — — 2014 — 100 16 16 16 16 16 2015 63 98 98 99 98 98 2016 796 1,325 1,418 1,494 1,499 2017 1,412 2,099 2,203 2,321 2018 1,309 2,123 2,325 2019 1,903 2,532 2020 2,291 11,289 All outstanding liabilities before 2011, net of reinsurance 68 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 3,842 Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance* Years 1 2 3 4 5 6 7 8 9 10 51.6 % 29.4 % 7.5 % 7.5 % 1.6 % 2.3 % — % — % — % — % * Presented as unaudited required supplementary information Total Lines Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2020 Years Ended December 31, Total of IBNR Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 14,456 14,923 16,636 17,578 17,620 17,854 18,419 18,834 18,793 19,076 1,128 6,538 2012 21,857 21,831 20,697 21,053 20,331 20,058 20,646 20,690 20,651 1,540 5,393 2013 24,661 24,755 24,280 21,361 21,342 21,506 21,465 21,631 2,000 5,907 2014 24,580 22,777 21,726 21,571 21,095 21,054 20,897 2,502 6,965 2015 25,757 26,614 26,414 25,450 25,650 22,518 3,202 9,507 2016 35,281 33,672 32,554 30,165 27,340 4,949 19,063 2017 43,499 35,113 32,685 30,847 6,630 29,426 2018 47,263 41,630 39,880 9,689 25,154 2019 57,778 51,600 16,282 22,421 2020 63,734 30,029 21,026 $ 318,174 Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance Years Ended December 31, Accident 2011* 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020 2011 3,954 8,815 12,631 14,107 15,405 16,347 17,085 17,515 18,091 18,332 2012 6,143 11,996 14,480 16,249 17,196 18,188 19,098 19,399 19,704 2013 6,799 12,602 15,984 17,708 19,246 19,712 20,129 20,121 2014 6,011 12,005 14,814 16,666 17,260 18,238 18,507 2015 6,275 13,785 16,512 18,046 18,923 19,340 2016 8,110 16,791 19,677 20,780 22,138 2017 8,903 17,555 20,809 22,673 2018 10,339 22,279 26,852 2019 13,215 27,174 2020 14,487 209,328 All outstanding liabilities before 2011, net of reinsurance 5,734 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 114,580 Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance* Years 1 2 3 4 5 6 7 8 9 10 26.5 % 29.7 % 13.7 % 7.6 % 5.9 % 4.3 % 3.3 % 2.0 % 2.2 % 1.0 % * Presented as unaudited required supplementary information
Summary of Reconciliation of Claims Development to Liability	The reconciliation of the net incurred and paid claims development tables to the liability for unpaid loss and loss adjustment expense in the consolidated balance sheets is as follows: December 31, 2020 2019 Net outstanding liabilities Workers' compensation $ 94,116 $ 74,722 Other liability 16,622 20,561 All other lines of business 3,842 2,896 Liabilities for unpaid loss and loss adjustment expense, net of reinsurance 114,580 98,179 Reinsurance recoverable on unpaid claims Workers' compensation 259,220 237,088 Other liability 43,592 41,873 All other lines of business 32,843 25,044 Total reinsurance recoverable on unpaid claims 335,655 304,005 Unallocated loss adjustment expenses 7,582 4,532 Total liability for unpaid loss and loss adjustment expenses $ 457,817 $ 406,716

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
Summary of Reinsurance Recoverable	The Company holds collateral on a funds held basis or requires collateral in a trust or as a letter of credit to secure recoverable balances from reinsurers not authorized in the insurance carriers state of domicile as follows: December 31, 2020 2019 Letters of credit $ 4,846 $ 65,877 Trust 123,807 32,207 Funds held 143,528 165,698 Total $ 272,181 $ 263,782 The Company has unsecured aggregate recoverable for losses, paid and unpaid, loss adjustment expenses and unearned premiums with the following individual reinsurers, authorized or unauthorized, exceeding 5 percent of stockholders’ equity: December 31, 2020 2019 Arch Reins Co $ 34,120 $ 36,551 Markel Global Reins Co 77,222 65,211
Summary of Effects of Reinsurance	A summary of the impact of ceded reinsurance is as follows: Year Ended December 31, 2020 2019 Gross Assumed Ceded Net Gross Assumed Ceded Net Losses and LAE liabilities $ 445,867 $ 11,950 $ (335,655) $ 122,162 $ 392,233 $ 14,483 $ (304,005) $ 102,711 Unearned premiums 155,404 2,583 (107,971) 50,016 101,225 2,564 (80,088) 23,701 Written premiums 476,342 7,907 (352,252) 131,997 405,353 6,048 (325,837) 85,564 Earned premiums 424,136 7,898 (323,567) 108,467 391,312 6,491 (311,325) 86,478 Loss and loss adjustment expenses 211,096 2,579 (162,901) 50,774 208,560 1,871 (165,770) 44,661

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information, the weighted average remaining lease term and weighted average discount rate related to leases were as follows: December 31, (dollars in thousands) 2020 Right of use asset $ 6,338 Lease liability $ 6,893 Weighted average remaining lease term 3.26 years Weighted average discount rate 6.37 %
Schedule of Future Maturities of Lease Liabilities	Future maturities of lease liabilities as of December 31, 2020 are as follows: Operating Leases 2021 $ 2,457 2022 2,363 2023 1,781 2024 929 2025 94 Thereafter — Total lease payments 7,624 Less: imputed interest (731) Total lease liabilities $ 6,893
Schedule of Future Minimum Rental Payments for Operating Leases	The Company had the following minimum annual commitments for payment of leases as of December 31, 2019: Rent Expense 2020 $ 1,718 2021 1,614 2022 1,594 2023 1,191 2024 669 Thereafter 46 Total lease payments $ 6,832

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Cumulative Dividends	The cumulative dividends earned by Series B holders totaled $128 for the year ended December 31, 2020 which consist of the following (in thousands, except share and per share amounts): Year Ended December 31, 2020 Total Dividend Dividend per Share Weighted Dividends on preferred shares - Series B $ 128 $ 2,513.76 51.00 The cumulative dividends earned by Series A and Series B holders totaled approximately $254 and $225 for the years ended December 31, 2019 and 2018, respectively, which consist of the following (in thousands, except share and per share amounts): Year Ended December 31, 2019 Total Dividend Dividend per Share Weighted Dividends on preferred shares - Series A $ 43 $ 4,500.00 9.62 Dividends on preferred shares - Series B 211 3,506.84 60.00 Total preferred share dividends $ 254 Year Ended December 31, 2018 Total Dividend Dividend per Share Weighted Dividends on preferred shares - Series A $ 45 $ 4,500.00 10.00 Dividends on preferred shares - Series B 180 3,459.72 51.95 Total preferred share dividends $ 225

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the calculation of basic and diluted EPS of common stock: Year Ended December 31, (in thousands, except share and per share amounts) 2020 2019 2018 Net income - basic and diluted $ 90,769 $ 31,285 $ 19,522 Weighted average number of shares outstanding - basic 43,744,003 37,386,394 37,386,394 Effect of dilutive securities: Restricted stock units 741 — — Dilutive shares 741 — — Weighted average number of shares outstanding - diluted 43,744,744 37,386,394 37,386,394 Earnings per share: Basic $ 2.08 $ 0.84 $ 0.52 Diluted $ 2.07 $ 0.84 $ 0.52

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The following table presents the changes in accumulated other comprehensive income for unrealized gains and losses on available-for-sale securities: Year Ended December 31, 2020 2019 2018 Balance at beginning of period $ 4,821 $ (2,003) $ 951 Other comprehensive income, net of tax: Unrealized investment gains (losses): Unrealized investment gains (losses) arising during the period 6,218 8,708 (3,964) Income tax expense (benefit) 1,313 1,831 (832) Unrealized investment gains (losses), net of tax 4,905 6,877 (3,132) Less: reclassification adjustments to: Net realized investment gains (losses) included in net realized capital gains (losses) 252 67 (225) Income tax expense (benefit) 53 14 (47) Total reclassifications included in net income (loss), net of tax 199 53 (178) Other comprehensive income (loss) 4,706 6,824 (2,954) Balance at end of period $ 9,527 $ 4,821 $ (2,003)

Stock Compensation (Tables)

Stock Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	2020 Expected volatility 29.8% Expected term 6 years Risk-free interest rate 0.47%
Summary of Stock Option Activity	A summary of the status of the Company's stock option activity as of December 31, 2020 and changes during the year then ended are as follows: Stock Options Weighted Average Exercise Price Balance outstanding, December 31, 2019 — $ — Granted 89,920 $ 15.00 Balance outstanding, December 31, 2020 89,920 $ 15.00 Options exercisable, December 31, 2020 — $ —
Summary of Options, Vested and Expected to Vest, Outstanding	The following table summarizes information regarding stock options outstanding as of December 31, 2020: Options Outstanding Options Vested or Expected to Vest Stock Options Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term Aggregate Intrinsic Value Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term Aggregate Intrinsic Value 2020 Omnibus Plan 89,920 $ 15.00 9.54 years $ — 89,920 $ 15.00 9.54 years $ —
Summary of Nonvested Restricted Stock Unit Activity	A summary of the status of the Company’s non-vested restricted stock unit activity as of December 31, 2020 and changes during the year then ended is as follows: Shares Weighted Average Grant Date Fair Value Non-vested outstanding, December 31, 2019 — $ — Granted 122,828 $ 15.04 Vested (11,240) $ 15.51 Non-vested outstanding, December 31, 2020 111,588 $ 14.99

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2020
Regulated Operations [Abstract]
Summary of Statutory Basis Information	Summarized statutory basis information, which differs from GAAP, is shown below for Benchmark, ALIC and 7710. 2020 (in thousands, except percentages) Benchmark ALIC 7710 Statutory capital and surplus $ 173,241 $ 6,284 $ 6,370 RBC authorized control level 14,379 523 1,265 Statutory net income 20,475 111 519 RBC percentage 1205 % 1202 % 504 % 2019 (in thousands, except percentages) Benchmark ALIC Statutory capital and surplus $ 135,941 $ 5,947 RBC authorized control level 13,862 733 Statutory net income 23,475 266 RBC percentage 981 % 811 %

Schedule II. Condensed Financ_2

Schedule II. Condensed Financial Information of Registrant (Tables)	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Balance Sheet	Trean Insurance Group, Inc. Condensed Balance Sheet (in thousands, except share data) December 31, 2020 Assets Investment in subsidiaries $ 252,607 Total investments 252,607 Cash and cash equivalents 683 Income taxes receivable 4,579 Intercompany receivables 152,643 Deferred tax asset 257 Total assets $ 410,769 Liabilities Accounts payable and accrued expenses $ 662 Total liabilities 662 Stockholders' equity Common stock, $0.01 par value per share (600,000,000 authorized; 51,148,782 issued and outstanding) 511 Additional paid-in capital 287,110 Retained earnings 112,959 Accumulated other comprehensive income 9,527 Total stockholders' equity 410,107 Total liabilities and stockholders' equity $ 410,769
Condensed Statement of Operations	Trean Insurance Group, Inc. Condensed Statement of Operations (in thousands) Year Ended December 31, 2020 Revenues Other revenue $ 300 Total revenue 300 Expenses General and administrative expenses 1,118 Other expenses 11,054 Noncash stock compensation 506 Interest expense 299 Total expenses 12,977 Loss before taxes (12,677) Income tax benefit (1,993) Loss before equity earnings of subsidiaries (10,684) Equity earnings of subsidiaries 101,453 Net income $ 90,769
Condensed Statement of Cash Flows	Trean Insurance Group, Inc. Condensed Statement of Cash Flows (in thousands) Year Ended December 31, 2020 Operating activities Net income $ 90,769 Adjustments to reconcile net income to net cash from operating activities: Stock compensation 506 Equity (earnings) losses in subsidiaries (101,453) Deferred income taxes (257) Changes in operating assets and liabilities: Premiums and other receivables 300 Other assets (665) Accounts payable and accrued expenses 662 Income taxes payable (4,579) Intercompany receivables (7,099) Net cash used in operating activities (21,816) Investing activities Capital contributions to subsidiaries (71,489) Net cash used for investing activities (71,489) Financing activities Shares redeemed for payroll taxes (82) Proceeds from initial public offering 99,643 Deferred offering costs (5,839) Cash contributed in formation of the Company 266 Net cash provided by financing activities 93,988 Net increase in cash, cash equivalents and restricted cash 683 Cash, cash equivalents and restricted cash ‑ beginning of period — Cash, cash equivalents and restricted cash ‑ end of period $ 683

Business and Basis of Present_3

Business and Basis of Presentation (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use asset	$ 6,338
Lease liability	$ 6,893
Cumulative effect of adopting ASC Topic 606			$ 141,615	$ 105,131	$ 92,165
Retained Earnings (Deficit)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adopting ASC Topic 606			$ 40,361	9,779	$ (8,062)
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adopting ASC Topic 606				695
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings (Deficit)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adopting ASC Topic 606				$ 695
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use asset		$ 5,946
Lease liability		$ 5,946

Business and Basis of Present_4

Business and Basis of Presentation - Summary of Impact of ASC 606 Adoption (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement Related Disclosures [Abstract]
Other revenue	$ 12,104	$ 9,125	$ 7,826
Total revenue	202,106	102,515	78,503
Income before taxes	95,261	34,801	26,150
Income tax expense	6,825	7,074	5,546
Net income	90,769	31,285	19,522
Assets
Deferred tax asset, net	0	1,367	1,615
Other assets	6,878	3,123	2,866
Members' Equity
Retained earnings	$ 112,959	40,361	10,474
Previously Reported
Income Statement Related Disclosures [Abstract]
Other revenue		8,925
Total revenue		102,315
Income before taxes		34,601
Income tax expense		7,028
Net income		31,131
Assets
Deferred tax asset, net		1,621	1,823
Other assets		2,020	1,963
Members' Equity
Retained earnings		39,512	9,779
ASC Topic 606 Impact | Accounting Standards Update 2014-09
Income Statement Related Disclosures [Abstract]
Other revenue		200
Total revenue		200
Income before taxes		200
Income tax expense		46
Net income		154
Assets
Deferred tax asset, net		(254)	(208)
Other assets		1,103	903
Members' Equity
Retained earnings		$ 849	$ 695

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jul. 15, 2020USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash	$ 4,085,000	$ 1,800,000
Other than temporary impairment losses, investments	0	0	$ 0
Bad debt writeoff	26,000	1,817,000	338,000
Bad debt expense related to reinsurance	0	0	0
Goodwill	140,640,000	2,822,000	2,822,000
Goodwill impairment loss	0	0	0
Impairment of intangible assets	$ 0	0	$ 0
Deferred offering costs				$ 6,503,000
Number of operating segments | segment	1
Number of reportable segments | segment	1
Other Assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred offering costs		664,000
Accounts Payable and Accrued Expenses
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred offering costs		$ 253,000

Significant Accounting Polici_5

Significant Accounting Policies - Summary of Premiums and Other Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Total premiums and other receivables	$ 109,583	$ 62,850
Less: Allowance for doubtful accounts	(366)	(390)
Net premiums and other receivables	109,217	62,460
Premiums receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Total premiums and other receivables	106,708	61,774
Trade receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Total premiums and other receivables	2,824	1,053
Notes receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Total premiums and other receivables	$ 51	$ 23

Significant Accounting Polici_6

Significant Accounting Policies - Summary of Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Impairments of property and equipment	$ 0	$ 0	$ 0
Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life	30 years
Building and building improvements
Property, Plant and Equipment [Line Items]
Useful life	30 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life	7 years
Office equipment
Property, Plant and Equipment [Line Items]
Useful life	5 years
Software and computer equipment
Property, Plant and Equipment [Line Items]
Useful life	3 years

Significant Accounting Polici_7

Significant Accounting Policies - Schedules of Concentration of Risk, by Geography (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Total gross written premium	$ 484,249	$ 411,401	$ 357,007
Geographic Concentration Risk | Revenue Benchmark | CALIFORNIA
Concentration Risk [Line Items]
Total gross written premium	203,421	202,446	153,611
Geographic Concentration Risk | Revenue Benchmark | MICHIGAN
Concentration Risk [Line Items]
Total gross written premium	41,830	38,174	37,084
Geographic Concentration Risk | Revenue Benchmark | TEXAS
Concentration Risk [Line Items]
Total gross written premium	28,909
Geographic Concentration Risk | Revenue Benchmark | ARIZONA
Concentration Risk [Line Items]
Total gross written premium	27,950	34,215	28,350
Geographic Concentration Risk | Revenue Benchmark | ALABAMA
Concentration Risk [Line Items]
Total gross written premium	17,549	12,946	11,907
Geographic Concentration Risk | Revenue Benchmark | MISSISSIPPI
Concentration Risk [Line Items]
Total gross written premium	13,307	8,910	7,143
Geographic Concentration Risk | Revenue Benchmark | GEORGIA
Concentration Risk [Line Items]
Total gross written premium	12,869
Geographic Concentration Risk | Revenue Benchmark | TENNESSEE
Concentration Risk [Line Items]
Total gross written premium	12,347	8,065	7,809
Geographic Concentration Risk | Revenue Benchmark | NEVADA
Concentration Risk [Line Items]
Total gross written premium	10,760	11,869	9,225
Geographic Concentration Risk | Revenue Benchmark | PENNSYLVANIA
Concentration Risk [Line Items]
Total gross written premium	10,498
Geographic Concentration Risk | Revenue Benchmark | Other Geographical Areas
Concentration Risk [Line Items]
Total gross written premium	$ 104,809	$ 94,776	$ 101,878
Product Concentration Risk | Public Utility Bonds
Concentration Risk [Line Items]
Concentration risk, percentage	28.00%	36.00%
Product Concentration Risk | Mortgage Backed Securities
Concentration Risk [Line Items]
Concentration risk, percentage	27.00%	21.00%
Equity Method Investments1 | Assets, Total | Compstar Holding Company LLC
Concentration Risk [Line Items]
Percent of net assets		8.00%

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 01, 2020	Jul. 15, 2020	Apr. 01, 2020	Mar. 31, 2019	Feb. 19, 2019	Dec. 12, 2018	Apr. 02, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 14, 2020
Business Acquisition [Line Items]
Goodwill								$ 140,640	$ 2,822	$ 2,822
Equity method investments								232	12,173
Gain on revaluation of Compstar investment								69,846	0	0
Revenues								202,106	102,515	78,503
Net income								90,769	31,285	19,522
Bargain purchase gain amount								0	$ 634	$ 0
7710 Insurance Company
Business Acquisition [Line Items]
Percentage of voting interests acquired	100.00%
Consideration transferred	$ 12,140
Goodwill	2,873
Intangible assets, net	$ 3,299
Revenues								1,183
Revenue from related parties								(1,131)
Net income								186
Compstar Holding Company LLC
Business Acquisition [Line Items]
Percentage of voting interests acquired		55.00%
Consideration transferred		$ 99,204
Goodwill		134,428
Intangible assets, net		73,954
Ownership percentage											45.00%
Fair value amount of equity method investment		81,167
Equity method investments		11,321
Gain on revaluation of Compstar investment		$ 69,846
Revenues								7,949
Revenue from related parties								(7,928)
Net income								$ 1,989
Compstar Holding Company LLC | Common Stock
Business Acquisition [Line Items]
Stock issued during period (in shares)		6,613,606						6,613,606
Stock issued, price per share		$ 15
LCTA Risk Services, Inc.
Business Acquisition [Line Items]
Percentage of voting interests acquired			100.00%
Consideration transferred			$ 1,400
Goodwill			517
Intangible assets, net			$ 482
American Liberty Insurance Company
Business Acquisition [Line Items]
Percentage of voting interests acquired				25.00%
Consideration transferred				$ 1,155
First Choice Casualty Insurance Company
Business Acquisition [Line Items]
Percentage of voting interests acquired					100.00%
Consideration transferred					$ 5,314
Bargain purchase gain amount					$ 634
Westcap Insurance Services, LLC
Business Acquisition [Line Items]
Percentage of voting interests acquired							100.00%
Consideration transferred							$ 2,450
Goodwill							$ 2,154
CTS Underwriters, LLC
Business Acquisition [Line Items]
Consideration transferred						$ 50
Intangible assets, net						$ 40

Acquisitions - Schedule of Asse

Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 01, 2020	Jul. 15, 2020	Apr. 01, 2020	Feb. 19, 2019	Dec. 12, 2018	Apr. 02, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Fair value adjustment to prior investment							$ 69,846	$ 0	$ 0
Goodwill							140,640	2,822	2,822
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Gain on bargain purchase							$ 0	$ 634	$ 0
7710 Insurance Company
Business Acquisition [Line Items]
Fair value of total consideration transferred	$ 12,140
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Fixed maturities	895
Cash and cash equivalents	2,704
Accrued investment income	7
Premiums and other receivables	2,618
Reinsurance recoverable	5,069
Prepaid reinsurance premiums	920
Deferred policy acquisition costs	466
Property and equipment	22
Right of use asset	196
Goodwill	2,873
Intangible assets, net	3,299
Other assets	7,435
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Unpaid loss and loss adjustment expenses	(8,117)
Unearned premiums	(3,831)
Funds held under reinsurance agreements	(421)
Accounts payable and accrued expenses	(1,112)
Lease liability	(220)
Deferred tax liabilities	(394)
Debt	(269)
Net assets acquired	$ 12,140
Compstar Holding Company LLC
Business Acquisition [Line Items]
Fair value of total consideration transferred		$ 99,204
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents		11,891
Premiums and other receivables		3,632
Previous investment in subsidiary		11,321
Fair value adjustment to prior investment		69,846
Property and equipment		444
Right of use asset		1,020
Goodwill		134,428
Intangible assets, net		73,954
Other assets		184
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable and accrued expenses		(11,328)
Lease liability		(1,302)
Deferred tax liabilities		(12,487)
Debt		(20,065)
Net assets acquired		$ 180,371
LCTA Risk Services, Inc.
Business Acquisition [Line Items]
Fair value of total consideration transferred			$ 1,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents			302
Premiums and other receivables			55
Property and equipment			63
Goodwill			517
Intangible assets, net			482
Other assets			12
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable			(17)
Income taxes payable			(14)
Net assets acquired			$ 1,400
First Choice Casualty Insurance Company
Business Acquisition [Line Items]
Fair value of total consideration transferred				$ 5,314
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents				973
Accrued investment income				40
Premiums and other receivables				1,571
Other assets				10
Investments				4,252
Deferred tax asset				242
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Unpaid loss and loss adjustment expenses				(6,426)
Unearned premiums				(1,003)
Funds held under reinsurance agreements				7,980
Accounts payable and accrued expenses				(316)
Income taxes payable				(338)
Reinsurance premiums payable				(1,037)
Net assets acquired				5,948
Gain on bargain purchase				$ 634
Westcap Insurance Services, LLC
Business Acquisition [Line Items]
Fair value of total consideration transferred						$ 2,450
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents						1,003
Property and equipment						194
Goodwill						2,154
Other assets						1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable						(902)
Net assets acquired						$ 2,450
CTS Underwriters, LLC
Business Acquisition [Line Items]
Fair value of total consideration transferred					$ 50
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets, net					40
Equipment					10
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Net assets acquired					$ 50

Acquisitions - Schedule of Acqu

Acquisitions - Schedule of Acquired Finite-Lived Intangible Assets by Major Class (Details) - USD ($) $ in Thousands	Oct. 01, 2020	Jul. 15, 2020	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Intangible assets, net			$ 75,316	$ 154
Trade name
Business Acquisition [Line Items]
Intangible assets, net			3,525
Customer lists and relationships
Business Acquisition [Line Items]
Intangible assets, net			$ 71,791
7710 Insurance Company
Business Acquisition [Line Items]
Intangible assets, net	$ 3,299
7710 Insurance Company | Trade name
Business Acquisition [Line Items]
Useful life	15 years
Intangible assets, net	$ 458
7710 Insurance Company | Customer lists and relationships
Business Acquisition [Line Items]
Useful life	10 years
Intangible assets, net	$ 2,841
Compstar Holding Company LLC
Business Acquisition [Line Items]
Intangible assets, net		$ 73,954
Compstar Holding Company LLC | Trade name
Business Acquisition [Line Items]
Useful life		15 years
Intangible assets, net		$ 3,157
Compstar Holding Company LLC | Customer lists and relationships
Business Acquisition [Line Items]
Useful life		14 years
Intangible assets, net		$ 70,797

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 405,604	$ 337,865
Equity securities:	3,774	835
Total investments	409,610	350,873
Funds held under reinsurance agreements	174,704	163,445
Total debt	32,381	29,369
Junior subordinated debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt		7,732
Secured credit facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt	32,381	21,637
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	17,471	16,129
Equity securities:	958	0
Funds held under reinsurance agreements	0	0
Total debt	0	0
Level 1 | Junior subordinated debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt		0
Level 1 | Secured credit facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	388,133	321,736
Equity securities:	816	835
Funds held under reinsurance agreements	174,704	163,445
Total debt	32,381	29,369
Level 2 | Junior subordinated debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt		7,732
Level 2 | Secured credit facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt	32,381	21,637
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Equity securities:	2,000	0
Funds held under reinsurance agreements	0	0
Total debt	0	0
Level 3 | Junior subordinated debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt		0
Level 3 | Secured credit facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt	0	0
U.S. government and government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	17,471	16,129
U.S. government and government securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	17,471	16,129
U.S. government and government securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
U.S. government and government securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	302	302
Foreign governments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Foreign governments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	302	302
Foreign governments | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
States, territories and possessions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	7,774	4,923
States, territories and possessions | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
States, territories and possessions | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	7,774	4,923
States, territories and possessions | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Political subdivisions of states territories and possessions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	33,212	25,104
Political subdivisions of states territories and possessions | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Political subdivisions of states territories and possessions | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	33,212	25,104
Political subdivisions of states territories and possessions | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Special revenue and special assessment obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	81,714	61,405
Special revenue and special assessment obligations | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Special revenue and special assessment obligations | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	81,714	61,405
Special revenue and special assessment obligations | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Industrial and public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	113,741	123,207
Industrial and public utilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Industrial and public utilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	113,741	123,207
Industrial and public utilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	18,066	16,312
Commercial mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Commercial mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	18,066	16,312
Commercial mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	93,017	54,109
Residential mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Residential mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	93,017	54,109
Residential mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Other loan-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	39,945	36,011
Other loan-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Other loan-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	39,945	36,011
Other loan-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Hybrid securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	362	363
Hybrid securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Hybrid securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	362	363
Hybrid securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Preferred stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	240	343
Preferred stock | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	0	0
Preferred stock | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	240	343
Preferred stock | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	0	0
Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	3,534	492
Common stock | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	958	0
Common stock | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	576	492
Common stock | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	2,000	0
Available-For-Sale and Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	409,378	338,700
Available-For-Sale and Equity Securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	18,429	16,129
Available-For-Sale and Equity Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	388,949	322,571
Available-For-Sale and Equity Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	$ 2,000	$ 0

Investments - Schedule of Debt

Investments - Schedule of Debt Securities, Available-for-sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fixed maturities:
Cost or Amortized Cost	$ 388,409	$ 329,640
Gross Unrealized Gains	17,454	8,485
Gross Unrealized Losses	(259)	(260)
Fair Value	405,604	337,865
Equity securities:
Cost or Amortized Cost	1,797	829
Gross Unrealized Gains	2,053	6
Gross Unrealized Losses	(76)	0
Fair Value	3,774	835
Cost or Amortized Cost	390,206	330,469
Gross Unrealized Gains	19,507	8,491
Gross Unrealized Losses	335	260
Fair Value	409,378	338,700
U.S. government and government securities
Fixed maturities:
Cost or Amortized Cost	17,135	15,965
Gross Unrealized Gains	336	167
Gross Unrealized Losses	0	(3)
Fair Value	17,471	16,129
Foreign governments
Fixed maturities:
Cost or Amortized Cost	300	299
Gross Unrealized Gains	2	3
Gross Unrealized Losses	0	0
Fair Value	302	302
States, territories and possessions
Fixed maturities:
Cost or Amortized Cost	7,500	4,789
Gross Unrealized Gains	274	134
Gross Unrealized Losses	0	0
Fair Value	7,774	4,923
Political subdivisions of states territories and possessions
Fixed maturities:
Cost or Amortized Cost	31,759	24,444
Gross Unrealized Gains	1,453	670
Gross Unrealized Losses	0	(10)
Fair Value	33,212	25,104
Special revenue and special assessment obligations
Fixed maturities:
Cost or Amortized Cost	77,329	59,149
Gross Unrealized Gains	4,422	2,298
Gross Unrealized Losses	(37)	(42)
Fair Value	81,714	61,405
Industrial and public utilities
Fixed maturities:
Cost or Amortized Cost	107,017	119,735
Gross Unrealized Gains	6,768	3,490
Gross Unrealized Losses	(44)	(18)
Fair Value	113,741	123,207
Commercial mortgage-backed securities
Fixed maturities:
Cost or Amortized Cost	16,242	15,586
Gross Unrealized Gains	1,848	757
Gross Unrealized Losses	(24)	(31)
Fair Value	18,066	16,312
Residential mortgage-backed securities
Fixed maturities:
Cost or Amortized Cost	91,478	53,467
Gross Unrealized Gains	1,626	679
Gross Unrealized Losses	(87)	(37)
Fair Value	93,017	54,109
Other loan-backed securities
Fixed maturities:
Cost or Amortized Cost	39,293	35,849
Gross Unrealized Gains	719	281
Gross Unrealized Losses	(67)	(119)
Fair Value	39,945	36,011
Hybrid securities
Fixed maturities:
Cost or Amortized Cost	356	357
Gross Unrealized Gains	6	6
Gross Unrealized Losses	0	0
Fair Value	362	363
Preferred Stock
Equity securities:
Cost or Amortized Cost	243	337
Gross Unrealized Gains	0	6
Gross Unrealized Losses	(3)	0
Fair Value	240	343
Common Stock
Equity securities:
Cost or Amortized Cost	1,554	492
Gross Unrealized Gains	2,053	0
Gross Unrealized Losses	(73)	0
Fair Value	$ 3,534	$ 492

Investments - Schedule of Conti

Investments - Schedule of Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	$ 21,644	$ 22,201
Unrealized Loss, less than 12 months	(189)	(123)
Fair Value, 12 months or more	9,298	19,245
Unrealized Loss, 12 months or more	(70)	(137)
Fair Value	30,942	41,446
Unrealized Loss	(259)	(260)
U.S. government and government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	4,518	293
Unrealized Loss, less than 12 months	0	(2)
Fair Value, 12 months or more	0	1,349
Unrealized Loss, 12 months or more	0	(1)
Fair Value	4,518	1,642
Unrealized Loss	0	(3)
Foreign governments
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	0	0
Unrealized Loss, less than 12 months	0	0
Fair Value, 12 months or more	0	0
Unrealized Loss, 12 months or more	0	0
Fair Value	0	0
Unrealized Loss	0	0
States, territories and possessions
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	0	0
Unrealized Loss, less than 12 months	0	0
Fair Value, 12 months or more	0	0
Unrealized Loss, 12 months or more	0	0
Fair Value	0	0
Unrealized Loss	0	0
Political subdivisions of states territories and possessions
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	0	1,500
Unrealized Loss, less than 12 months	0	(9)
Fair Value, 12 months or more	0	690
Unrealized Loss, 12 months or more	0	(1)
Fair Value	0	2,190
Unrealized Loss	0	(10)
Special revenue and special assessment obligations
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	2,923	3,206
Unrealized Loss, less than 12 months	(37)	(42)
Fair Value, 12 months or more	0	181
Unrealized Loss, 12 months or more	0	0
Fair Value	2,923	3,387
Unrealized Loss	(37)	(42)
Industrial and public utilities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	2,106	5,939
Unrealized Loss, less than 12 months	(44)	(16)
Fair Value, 12 months or more	0	1,094
Unrealized Loss, 12 months or more	0	(2)
Fair Value	2,106	7,033
Unrealized Loss	(44)	(18)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	999	2,138
Unrealized Loss, less than 12 months	(24)	(30)
Fair Value, 12 months or more	0	129
Unrealized Loss, 12 months or more	0	(1)
Fair Value	999	2,267
Unrealized Loss	(24)	(31)
Residential mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	8,811	6,936
Unrealized Loss, less than 12 months	(74)	(13)
Fair Value, 12 months or more	262	1,917
Unrealized Loss, 12 months or more	(13)	(24)
Fair Value	9,073	8,853
Unrealized Loss	(87)	(37)
Other loan-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	2,037	2,189
Unrealized Loss, less than 12 months	(10)	(11)
Fair Value, 12 months or more	9,036	13,885
Unrealized Loss, 12 months or more	(57)	(108)
Fair Value	11,073	16,074
Unrealized Loss	(67)	(119)
Hybrid securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	250	0
Unrealized Loss, less than 12 months	0	0
Fair Value, 12 months or more	0	0
Unrealized Loss, 12 months or more	0	0
Fair Value	250	0
Unrealized Loss	$ 0	$ 0

Investments - Summary of Invest

Investments - Summary of Investments by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cost or Amortized Cost
Due in one year or less	$ 25,844
Due after one year but before five years	102,491
Due after five years but before ten years	61,952
Due after ten years	51,109
Cost or Amortized Cost	388,409	$ 329,640
Fair Value
Due in one year or less	26,107
Due after one year but before five years	107,516
Due after five years but before ten years	67,091
Due after ten years	53,862
Total Fair Value	405,604	337,865
Commercial mortgage-backed securities
Cost or Amortized Cost
Cost or Amortized Cost	16,242	15,586
Fair Value
Total Fair Value	18,066	16,312
Residential mortgage-backed securities
Cost or Amortized Cost
Cost or Amortized Cost	91,478	53,467
Fair Value
Total Fair Value	93,017	54,109
Other loan-backed securities
Cost or Amortized Cost
Cost or Amortized Cost	39,293	35,849
Fair Value
Total Fair Value	$ 39,945	$ 36,011

Investments - Sumnary of Realiz

Investments - Sumnary of Realized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fixed maturities:
Gains	$ 259	$ 91	$ 111
Losses	(7)	(24)	(201)
Total fixed maturities	252	67	(90)
Equity securities:
Losses	0	0	(6)
Gains	3,115	0	0
Total equity securities	3,115	0	(6)
Total net investment realized gains (losses)	$ 3,367	$ 67	$ (96)

Investments - Summary of Net In

Investments - Summary of Net Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net Investment Income [Line Items]
Net investment income	$ 8,324	$ 6,245	$ 4,816
Fixed maturities
Net Investment Income [Line Items]
Net investment income	6,271	6,078	4,701
Preferred stock
Net Investment Income [Line Items]
Net investment income	48	40	25
Common stock
Net Investment Income [Line Items]
Net investment income	1,980	0	0
Interest earned on cash and short-term investments
Net Investment Income [Line Items]
Net investment income	$ 25	$ 127	$ 90

Equity Method Investments (Deta

Equity Method Investments (Details) - USD ($) $ in Thousands	Jan. 03, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 15, 2020	Jul. 14, 2020	Jan. 02, 2020
Schedule of Equity Method Investments [Line Items]
Carrying value of equity method investments		$ 232	$ 12,173
Net income (loss)		2,333	3,558	$ (1,082)
Distributions from equity method investments		(2,953)	(5,489)	(2,852)
Proceeds from sale of equity method investment		3,000	0	0
Realized gain (loss) on sale		0	(34)	0
Unrealized gain on sale of equity method investment		$ 8,324	6,245	4,816
Compstar Holding Company LLC
Schedule of Equity Method Investments [Line Items]
Percentage of voting interests acquired					55.00%
Ownership percentage						45.00%
Carrying value of equity method investments					$ 11,321
Compstar Holding Company LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage		45.00%				45.00%
Carrying value of equity method investments			11,831
Net income (loss)		$ 2,333	3,012	(1,788)
Distributions from equity method investments		(2,842)	(4,649)	(2,542)
Trean Intermediaries
Schedule of Equity Method Investments [Line Items]
Ownership percentage							25.00%
Carrying value of equity method investments			110
Net income (loss)			552	709
Distributions from equity method investments		$ (225)	(840)	(309)
Ownership percentage sold	15.00%
Proceeds from sale of equity method investment	$ 3,000
Cumulative percentage ownership after all transactions		10.00%
Realized gain (loss) on sale	3,115
Unrealized gain on sale of equity method investment	$ 2,000
Stop-Loss
Schedule of Equity Method Investments [Line Items]
Net income (loss)			(6)	$ (2)
Realized gain (loss) on sale			$ (34)

Equity Method Investments - Sum

Equity Method Investments - Summarized Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Total assets	$ 1,369,783	$ 919,034
Total liabilities	959,676	772,319
Revenues	202,106	102,515	$ 78,503
Net income (loss)	$ 2,333	3,558	(1,082)
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Total assets		58,657	60,202
Total liabilities		42,980	44,476
Revenues		24,010	24,267
Net income (loss)		$ 8,870	$ (1,150)

Nonconsolidated Variable Inte_2

Nonconsolidated Variable Interest Entities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Trean Capital Trust I
Variable Interest Entity [Line Items]
Liquidation value	$ 7,500

Property and Equipment (Details

Property and Equipment (Details) $ in Thousands	Oct. 15, 2018USD ($)building	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Property, Plant and Equipment [Line Items]
Total, at cost		$ 11,562	$ 10,333
Less: Accumulated depreciation		(3,308)	(2,396)
Property and equipment, net		8,254	7,937
Depreciation		912	830	$ 470
Number of buildings sold | building	1
Proceeds from sale of property and equipment	$ 2,296	0	0	2,296
Loss on disposal of building	$ 619	0	0	$ 619
Land
Property, Plant and Equipment [Line Items]
Total, at cost		1,780	1,780
Building and building improvements
Property, Plant and Equipment [Line Items]
Total, at cost		5,755	5,150
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total, at cost		1,106	772
Office equipment
Property, Plant and Equipment [Line Items]
Total, at cost		2,813	2,193
Other property, plant and equipment
Property, Plant and Equipment [Line Items]
Total, at cost		93	72
Deposits on fixed assets not placed in service
Property, Plant and Equipment [Line Items]
Total, at cost		$ 15	$ 366

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,822	$ 2,822
Acquisitions	137,818	0
Goodwill, ending balance	$ 140,640	$ 2,822

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Totals	$ 78,010	$ 275
Less: Accumulated amortization	(2,694)	(121)
Total	75,316	154
Intangible asset amortization	2,573	46	$ 27
Non-compete agreement
Finite-Lived Intangible Assets [Line Items]
Totals	$ 44	44
Non-compete agreement | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life	2 years
Non-compete agreement | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	4 years
Trade name
Finite-Lived Intangible Assets [Line Items]
Totals	$ 3,682	67
Total	$ 3,525
Trade name | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life	6 years
Trade name | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	15 years
Customer lists and relationships
Finite-Lived Intangible Assets [Line Items]
Totals	$ 74,284	$ 164
Total	$ 71,791
Customer lists and relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life	10 years
Customer lists and relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	14 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
2021	$ 5,654
2022	5,654
2023	5,646
2024	5,646
2025	5,646
Thereafter	47,070
Total	75,316	$ 154
Trade name
Finite-Lived Intangible Assets [Line Items]
2021	248
2022	248
2023	241
2024	241
2025	241
Thereafter	2,306
Total	3,525
Customer lists and relationships
Finite-Lived Intangible Assets [Line Items]
2021	5,406
2022	5,406
2023	5,405
2024	5,405
2025	5,405
Thereafter	44,764
Total	$ 71,791

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Insurance [Abstract]
Premium deficiency	$ 0	$ 0	$ 0
Movement Analysis of Deferred Policy Acquisition Costs and Present Value of Future Profits [Roll Forward]
Deferred policy acquisition cost, beginning balance	2,115,000	2,976,000	1,833,000
Policy acquisition costs deferred	7,593,000	14,646,000	8,279,000
Amortization charged to expense	(8,376,000)	(15,507,000)	(7,136,000)
Deferred policy acquisition cost, ending balance	$ 1,332,000	$ 2,115,000	$ 2,976,000

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued commissions and third-party administration fees	$ 5,391	$ 2,713
Trade payables	2,823	2,387
Accrued taxes, licenses and fees	4,527	4,313
Accrued wages and employee benefits	4,092	2,167
Amounts retained for the accounts of others	41,655	2,467
Litigation settlement	1,210	0
Other liabilities	1,542	948
Total	$ 61,240	$ 14,995

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jun. 21, 2006
Debt Instrument [Line Items]
Total debt	$ 32,381	$ 29,369
Less: unamortized deferred financing costs	(744)	(329)
Total debt	31,637	29,040
Junior subordinated debt
Debt Instrument [Line Items]
Total debt	0	7,732	$ 7,732
Secured credit facility
Debt Instrument [Line Items]
Total debt	$ 32,381	$ 21,637

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Dec. 31, 2020	Oct. 07, 2020	Jun. 16, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 07, 2011	Jun. 21, 2006	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Oct. 01, 2020	Jul. 15, 2020	Apr. 03, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 32,381,000			$ 29,369,000				$ 32,381,000	$ 29,369,000		$ 32,381,000
Junior subordinated debt
Debt Instrument [Line Items]
Long-term debt, gross	0			$ 7,732,000			$ 7,732,000	0	$ 7,732,000		$ 0
Proceeds from subordinated debt		$ 7,807,000
Effective percentage				5.49%	5.94%				5.49%	5.94%
Debt interest expense								271,000	$ 464,000	$ 433,000
Junior subordinated debt | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.99%	2.44%						3.50%
Secured credit facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 32,381,000			$ 21,637,000				32,381,000	$ 21,637,000		$ 32,381,000
Secured credit facility | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity														$ 27,500,000
Secured credit facility | Second Amended And Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 33,000,000
Extension term			5 years
Increase (decrease) to term loan debt amount			$ 11,707,000
Secured credit facility | Second Amended And Restated Credit Agreement | Minimum
Debt Instrument [Line Items]
Quarterly installment payments								206,000
Secured credit facility | Second Amended And Restated Credit Agreement | Maximum
Debt Instrument [Line Items]
Quarterly installment payments								$ 825,000
Secured credit facility | Second Amended And Restated Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	4.72%			6.33%	6.89%			4.50%	3.00%	3.50%
Oak Street Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 19,740,000							$ 19,740,000			$ 19,740,000
Federal Paycheck Protection Program Loan (PPP Loan) | Compstar Holding Company LLC
Debt Instrument [Line Items]
Long-term debt, gross													$ 325,000
Federal Paycheck Protection Program Loan (PPP Loan) | 7710 Insurance Company
Debt Instrument [Line Items]
Long-term debt, gross												$ 269,000
Preferred Capital Securities | Junior subordinated debt
Debt Instrument [Line Items]
Shares issued during period							7,500
Preferred capital securities interest rate						9.167%
Liquidation preference per share (in dollars per share)	$ 1,000							$ 1,000			$ 1,000
Common Securities | Junior subordinated debt
Debt Instrument [Line Items]
Shares issued during period							232
Secured credit facility | Secured credit facility
Debt Instrument [Line Items]
Debt interest expense								$ 1,518,000	$ 1,617,000	$ 1,404,000
Maximum borrowing capacity														$ 3,000,000

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 1,444
2022	1,650
2023	2,887
2024	3,300
2025	23,100
Thereafter	0
Total debt	$ 32,381	$ 29,369

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenues	$ 12,104	$ 9,125	$ 7,826

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 12,104	$ 9,125	$ 7,826
Brokerage
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	8,994	5,828
Managing general agent fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	976	858
Third-party administrator fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,630	1,776
Consulting fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 504	$ 663

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Schedule of Contract with Customer, Contract Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract assets	$ 3,405	$ 1,103

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Current tax expense	$ 7,291	$ 8,642	$ 5,618
Deferred tax expense	(466)	(1,568)	(72)
Total income tax expense	$ 6,825	$ 7,074	$ 5,546

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income tax expense computed at statutory rate	$ 20,005	$ 7,309	$ 5,492
State taxes, net of federal benefit	577	293	201
Tax-exempt municipal income, net of proration	(272)	(271)	(328)
Nondeductible IPO & potential buyer expenses	957	91	0
Fair market value adjustment on Compstar investment	(14,668)	0	0
Other	226	(348)	181
Total income tax expense	$ 6,825	$ 7,074	$ 5,546
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Income tax expense computed at statutory rate, percent	21.00%	21.00%	21.00%
State taxes, net of federal benefit, percent	0.60%	0.80%	0.80%
Tax-exempt municipal income, net of proration, percent	(0.30%)	(0.80%)	(1.30%)
Nondeductible IPO & potential buyer expenses, percent	1.00%	0.30%	0.00%
Fair market value adjustment on Compstar investment, percent	(15.40%)	0.00%	0.00%
Other, percent	0.30%	(1.00%)	0.70%
Effective income tax rate, percent	7.20%	20.30%	21.20%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 1,676
Deferred tax assets	118	$ 352
Federal Income Tax
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 3,639	$ 4,752

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Unpaid losses and LAE	$ 3,180	$ 2,671
Unearned premiums	2,101	995
NOL carryforward	118	352
Lease liability	1,789
Accrued liabilities	189	190
Stock compensation	120	0
Other	81	176
Total deferred tax assets	7,578	4,384
Deferred tax liabilities:
Deferred acquisition costs	(259)	(444)
Loss reserve discounting TCJA transitional adjustment	(591)	(675)
Unrealized gains and losses on investments	(2,556)	(1,281)
Property and equipment	(389)	(296)
Right-of-use asset	(1,667)
Intangible assets	(13,271)	(28)
Unrealized gain on TRI investment	(474)	0
Prepaid expenses	(352)	(52)
Section 481(a) adjustment	(224)	(156)
Other	(124)	(85)
Total deferred tax liabilities	(19,907)	(3,017)
Net deferred tax assets (liabilities)	$ (12,329)
Net deferred tax assets (liabilities)		$ 1,367

Liability for Unpaid Losses a_3

Liability for Unpaid Losses and Loss Adjustment Expense - Schedule of Liability for Unpaid Losses and Loss Adjustment Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Unpaid losses and LAE reserves at beginning of period	$ 406,716	$ 340,415	$ 277,671
Less losses ceded through reinsurance	(304,005)	(257,421)	(206,323)
Net unpaid losses and LAE at beginning of period	122,162	102,711	82,994	$ 122,162	$ 102,711	$ 71,348
Acquisition of subsidiary, net of losses ceded through reinsurance	7,050	6,366	0
Incurred losses and LAE related to:
Current period	65,587	54,933	41,635
Prior period	(14,813)	(10,272)	(5,906)
Total incurred losses and LAE	50,774	44,661	35,729
Paid losses and LAE, net of reinsurance, related to:
Current period	15,411	11,852	7,724
Prior period	22,962	19,458	16,359
Total paid losses and LAE	38,373	31,310	24,083
Net unpaid losses and LAE at end of period	122,162	102,711	82,994
Plus losses ceded through reinsurance	(335,655)	(304,005)	(257,421)
Unpaid losses and LAE reserves at end of period	$ 457,817	$ 406,716	$ 340,415
Adjustment to reserves for unpaid losses				7,582	4,532
Remaining claims liability				1,717	$ 1,773
Life and Annuity Insurance Product Line
Paid losses and LAE, net of reinsurance, related to:
Adjustment to reserves for unpaid losses				$ 2,553

Liability for Unpaid Losses a_4

Liability for Unpaid Losses and Loss Adjustment Expense - Summary of Loss Development (Details)	Dec. 31, 2020USD ($)claim	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2011USD ($)
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 318,174,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	209,328,000
Liabilities for claims and claim adjustment expenses, net of reinsurance	$ 114,580,000	$ 98,179,000
Short-duration Insurance Contracts, Historical Claims Duration
1	26.50%
2	29.70%
3	13.70%
4	7.60%
5	5.90%
6	4.30%
7	3.30%
8	2.00%
9	2.20%
10	1.00%
Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 276,949,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	188,292,000
Liabilities for claims and claim adjustment expenses, net of reinsurance	$ 94,116,000	74,722,000
Short-duration Insurance Contracts, Historical Claims Duration
1	27.40%
2	32.60%
3	15.40%
4	7.90%
5	5.10%
6	3.00%
7	2.00%
8	1.30%
9	1.70%
10	0.50%
Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 26,162,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	9,747,000
Liabilities for claims and claim adjustment expenses, net of reinsurance	$ 16,622,000	20,561,000
Short-duration Insurance Contracts, Historical Claims Duration
1	2.40%
2	7.10%
3	6.90%
4	9.10%
5	12.70%
6	16.80%
7	13.80%
8	11.00%
9	7.80%
10	6.00%
All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 15,063,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	11,289,000
Liabilities for claims and claim adjustment expenses, net of reinsurance	$ 3,842,000	2,896,000
Short-duration Insurance Contracts, Historical Claims Duration
1	51.60%
2	29.40%
3	7.50%
4	7.50%
5	1.60%
6	2.30%
7	0.00%
8	0.00%
9	0.00%
10	0.00%
2011
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 19,076,000	18,793,000	$ 18,834,000	$ 18,419,000	$ 17,854,000	$ 17,620,000	$ 17,578,000	$ 16,636,000	$ 14,923,000	$ 14,456,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	18,332,000	18,091,000	17,515,000	17,085,000	16,347,000	15,405,000	14,107,000	12,631,000	8,815,000	3,954,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,128
Cumulative Number of Reported Claims | claim	6,538
2011 | Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 17,276,000	17,078,000	17,090,000	16,738,000	16,197,000	16,004,000	16,280,000	15,426,000	13,825,000	13,271,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	16,621,000	16,532,000	16,048,000	15,690,000	15,025,000	14,428,000	13,534,000	12,287,000	8,642,000	3,922,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,082
Cumulative Number of Reported Claims | claim	2,337
2011 | Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,594,000	1,509,000	1,537,000	1,469,000	1,447,000	1,406,000	1,076,000	1,124,000	1,075,000	1,126,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,505,000	1,353,000	1,261,000	1,189,000	1,116,000	771,000	369,000	338,000	171,000	31,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 46
Cumulative Number of Reported Claims | claim	383
2011 | All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 206,000	206,000	207,000	212,000	210,000	210,000	222,000	86,000	23,000	59,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	206,000	206,000	206,000	206,000	206,000	206,000	204,000	6,000	2,000	$ 1,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Reported Claims | claim	3,818
2012
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 20,651,000	20,690,000	20,646,000	20,058,000	20,331,000	21,053,000	20,697,000	21,831,000	21,857,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	19,704,000	19,399,000	19,098,000	18,188,000	17,196,000	16,249,000	14,480,000	11,996,000	6,143,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,540
Cumulative Number of Reported Claims | claim	5,393
2012 | Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 18,933,000	18,967,000	18,898,000	18,778,000	19,235,000	20,176,000	19,699,000	20,948,000	20,397,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	18,329,000	18,164,000	17,951,000	17,426,000	16,683,000	15,902,000	14,292,000	11,854,000	6,100,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,290
Cumulative Number of Reported Claims | claim	2,229
2012 | Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,717,000	1,721,000	1,745,000	1,278,000	1,092,000	863,000	973,000	880,000	1,442,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,374,000	1,234,000	1,146,000	761,000	512,000	346,000	187,000	141,000	42,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 250
Cumulative Number of Reported Claims | claim	456
2012 | All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,000	2,000	3,000	2,000	4,000	14,000	25,000	3,000	18,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	$ 1,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Reported Claims | claim	2,708
2013
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 21,631,000	21,465,000	21,506,000	21,342,000	21,361,000	24,280,000	24,755,000	24,661,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	20,121,000	20,129,000	19,712,000	19,246,000	17,708,000	15,984,000	12,602,000	6,799,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 2,000
Cumulative Number of Reported Claims | claim	5,907
2013 | Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 19,964,000	19,814,000	19,426,000	19,528,000	19,772,000	22,650,000	22,879,000	22,746,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	18,906,000	18,976,000	18,664,000	18,448,000	17,135,000	15,703,000	12,407,000	6,734,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,655
Cumulative Number of Reported Claims | claim	2,496
2013 | Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,667,000	1,651,000	2,068,000	1,804,000	1,580,000	1,617,000	1,876,000	1,914,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,215,000	1,153,000	1,048,000	798,000	573,000	281,000	195,000	65,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 345
Cumulative Number of Reported Claims | claim	343
2013 | All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 0	0	12,000	10,000	9,000	13,000	0	1,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	0	0	0	0	0	0	0	$ 0
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Reported Claims | claim	3,068
2014
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 20,897,000	21,054,000	21,095,000	21,571,000	21,726,000	22,777,000	24,580,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	18,507,000	18,238,000	17,260,000	16,666,000	14,814,000	12,005,000	6,011,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 2,502
Cumulative Number of Reported Claims | claim	6,965
2014 | Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 18,049,000	18,025,000	17,967,000	19,394,000	19,781,000	20,686,000	22,357,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	16,607,000	16,535,000	16,177,000	16,011,000	14,393,000	11,672,000	5,958,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,723
Cumulative Number of Reported Claims | claim	2,740
2014 | Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 2,832,000	3,013,000	3,107,000	2,154,000	1,921,000	1,964,000	2,183,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,884,000	1,687,000	1,067,000	639,000	405,000	233,000	53,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 779
Cumulative Number of Reported Claims | claim	434
2014 | All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 16,000	16,000	21,000	23,000	24,000	127,000	40,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	16,000	16,000	16,000	16,000	16,000	100,000	$ 0
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Reported Claims | claim	3,791
2015
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 22,518,000	25,650,000	25,450,000	26,414,000	26,614,000	25,757,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	19,340,000	18,923,000	18,046,000	16,512,000	13,785,000	6,275,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 3,202
Cumulative Number of Reported Claims | claim	9,507
2015 | Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 19,560,000	22,218,000	21,788,000	23,444,000	23,830,000	22,643,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	17,984,000	17,638,000	17,002,000	15,814,000	13,313,000	6,089,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,942
Cumulative Number of Reported Claims | claim	3,945
2015 | Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 2,860,000	3,334,000	3,549,000	2,862,000	2,652,000	2,946,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,258,000	1,187,000	945,000	600,000	374,000	123,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,260
Cumulative Number of Reported Claims | claim	440
2015 | All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 98,000	98,000	113,000	108,000	132,000	168,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	98,000	98,000	99,000	98,000	98,000	$ 63,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Reported Claims | claim	5,122
2016
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 27,340,000	30,165,000	32,554,000	33,672,000	35,281,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	22,138,000	20,780,000	19,677,000	16,791,000	8,110,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 4,949
Cumulative Number of Reported Claims | claim	19,063
2016 | Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 23,063,000	25,430,000	27,674,000	29,261,000	30,710,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	19,856,000	18,728,000	17,904,000	15,329,000	7,260,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 3,261
Cumulative Number of Reported Claims | claim	8,677
2016 | Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 2,735,000	3,180,000	3,135,000	2,794,000	2,689,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	783,000	558,000	355,000	137,000	54,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,677
Cumulative Number of Reported Claims | claim	323
2016 | All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,542,000	1,555,000	1,745,000	1,617,000	1,882,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,499,000	1,494,000	1,418,000	1,325,000	$ 796,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 11
Cumulative Number of Reported Claims | claim	10,063
2017
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 30,847,000	32,685,000	35,113,000	43,499,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	22,673,000	20,809,000	17,555,000	8,903,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 6,630
Cumulative Number of Reported Claims | claim	29,426
2017 | Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 24,439,000	25,713,000	29,107,000	35,683,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	19,353,000	17,930,000	15,017,000	7,439,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 4,075
Cumulative Number of Reported Claims | claim	13,230
2017 | Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 3,966,000	4,555,000	3,089,000	4,964,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	999,000	676,000	439,000	52,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 2,521
Cumulative Number of Reported Claims | claim	304
2017 | All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 2,442,000	2,417,000	2,917,000	2,852,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	2,321,000	2,203,000	2,099,000	$ 1,412,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 34
Cumulative Number of Reported Claims | claim	15,892
2018
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 39,880,000	41,630,000	47,263,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	26,852,000	22,279,000	10,339,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 9,689
Cumulative Number of Reported Claims | claim	25,154
2018 | Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 34,321,000	34,478,000	40,122,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	24,023,000	19,811,000	8,978,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 7,288
Cumulative Number of Reported Claims | claim	10,943
2018 | Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 3,010,000	4,278,000	4,256,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	504,000	345,000	52,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 2,286
Cumulative Number of Reported Claims | claim	218
2018 | All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 2,549,000	2,874,000	2,885,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	2,325,000	2,123,000	$ 1,309,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 115
Cumulative Number of Reported Claims | claim	13,993
2019
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 51,600,000	57,778,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	27,174,000	13,215,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 16,282
Cumulative Number of Reported Claims | claim	22,421
2019 | Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 45,384,000	48,565,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	24,472,000	11,201,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 13,504
Cumulative Number of Reported Claims | claim	9,820
2019 | Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 2,849,000	5,457,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	170,000	111,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 2,512
Cumulative Number of Reported Claims | claim	92
2019 | All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 3,367,000	3,756,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	2,532,000	$ 1,903,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 266
Cumulative Number of Reported Claims | claim	12,509
2020
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 63,734,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	14,487,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 30,029
Cumulative Number of Reported Claims | claim	21,026
2020 | Workers' Compensation
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 55,960,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	12,141,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 26,003
Cumulative Number of Reported Claims | claim	9,501
2020 | Other liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 2,932,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	55,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 2,789
Cumulative Number of Reported Claims | claim	46
2020 | All Other Lines
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 4,842,000
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	2,291,000
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,237
Cumulative Number of Reported Claims | claim	11,479
All outstanding liabilities before 2011, net of reinsurance
Claims Development [Line Items]
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 5,734,000
All outstanding liabilities before 2011, net of reinsurance | Workers' Compensation
Claims Development [Line Items]
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	5,459,000
All outstanding liabilities before 2011, net of reinsurance | Other liability
Claims Development [Line Items]
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	207,000
All outstanding liabilities before 2011, net of reinsurance | All Other Lines
Claims Development [Line Items]
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 68,000

Liability for Unpaid Losses a_5

Liability for Unpaid Losses and Loss Adjustment Expense - Summary of Reconciliation of Claims Development to Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Liability for Claims and Claims Adjustment Expense [Line Items]
Liabilities for unpaid loss and loss adjustment expense, net of reinsurance	$ 114,580	$ 98,179
Total reinsurance recoverable on unpaid claims	335,655	304,005	$ 257,421	$ 206,323
Unallocated loss adjustment expenses	7,582	4,532
Unpaid loss and loss adjustment expenses	457,817	406,716	$ 340,415	$ 277,671
Workers' Compensation
Liability for Claims and Claims Adjustment Expense [Line Items]
Liabilities for unpaid loss and loss adjustment expense, net of reinsurance	94,116	74,722
Total reinsurance recoverable on unpaid claims	259,220	237,088
Other liability
Liability for Claims and Claims Adjustment Expense [Line Items]
Liabilities for unpaid loss and loss adjustment expense, net of reinsurance	16,622	20,561
Total reinsurance recoverable on unpaid claims	43,592	41,873
All Other Lines
Liability for Claims and Claims Adjustment Expense [Line Items]
Liabilities for unpaid loss and loss adjustment expense, net of reinsurance	3,842	2,896
Total reinsurance recoverable on unpaid claims	$ 32,843	$ 25,044

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Insurance [Abstract]
Bad debt expense related to reinsurance	$ 0	$ 0	$ 0

Reinsurance - Summary of Reinsu

Reinsurance - Summary of Reinsurance Recoverable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Effects of Reinsurance [Line Items]
Reinsurance recoverable	$ 343,213	$ 307,338
Ceded Credit Risk, Secured | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments
Effects of Reinsurance [Line Items]
Reinsurance recoverable	272,181	263,782
Ceded Credit Risk, Secured | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments | Letters of credit
Effects of Reinsurance [Line Items]
Reinsurance recoverable	4,846	65,877
Ceded Credit Risk, Secured | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments | Trust
Effects of Reinsurance [Line Items]
Reinsurance recoverable	123,807	32,207
Ceded Credit Risk, Secured | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments | Funds held
Effects of Reinsurance [Line Items]
Reinsurance recoverable	143,528	165,698
Ceded Credit Risk, Unsecured | Reinsurance Recoverable Including Reinsurance Premium Paid | Arch Reins Co
Effects of Reinsurance [Line Items]
Reinsurance recoverable	34,120	36,551
Ceded Credit Risk, Unsecured | Reinsurance Recoverable Including Reinsurance Premium Paid | Markel Global Reins Co
Effects of Reinsurance [Line Items]
Reinsurance recoverable	$ 77,222	$ 65,211

Reinsurance - Summary of Effect

Reinsurance - Summary of Effects of Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Losses and LAE liabilities
Gross	$ 445,867	$ 392,233
Assumed	11,950	14,483
Ceded	(335,655)	(304,005)
Net unpaid losses and LAE at beginning of period	122,162	102,711
Unearned premiums
Gross	155,404	101,225
Assumed	2,583	2,564
Ceded	107,971	80,088
Net	50,016	23,701
Written premiums
Gross	476,342	405,353
Assumed	7,907	6,048
Ceded	(352,252)	(325,837)
Net	131,997	85,564
Earned premiums
Gross	424,136	391,312
Assumed	7,898	6,491
Ceded	(323,567)	(311,325)	$ (273,569)
Net earned premiums	108,467	86,478	66,576
Loss and loss adjustment expenses
Gross	211,096	208,560
Assumed	2,579	1,871
Ceded	(162,901)	(165,770)
Total incurred losses and LAE	$ 50,774	$ 44,661	$ 35,729

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2020
Lessee, Lease, Description [Line Items]
Right of use asset	$ 6,338
Lease liability	$ 6,893
Renewal term	5 years
Lease expense	$ 2,501
Variable lease expense	362
Sublease income	$ 84
Rent expense		$ 1,575	$ 1,115
Sublease income		$ 90	$ 309
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Right of use asset				$ 5,946
Lease liability				$ 5,946
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 month
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	90 months

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information (Details) $ in Thousands	Dec. 31, 2020USD ($)
Leases [Abstract]
Right of use asset	$ 6,338
Lease liability	$ 6,893
Weighted average remaining lease term	3 years 3 months 3 days
Weighted average discount rate	6.37%

Leases - Schedule of Future Mat

Leases - Schedule of Future Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2020USD ($)
Leases [Abstract]
2021	$ 2,457
2022	2,363
2023	1,781
2024	929
2025	94
Thereafter	0
Total lease payments	7,624
Less: imputed interest	(731)
Total lease liabilities	$ 6,893

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 1,718
2021	1,614
2022	1,594
2023	1,191
2024	669
Thereafter	46
Total lease payments	$ 6,832

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 22, 2020	Jul. 20, 2020	Jul. 15, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Proceeds from initial public offering		$ 93,139		$ 99,643	$ 0	$ 0
Payments for underwriting discounts and commissions		7,500
Payments of offering expenses		6,503
Common stock, authorized (in shares)				600,000,000	0
Common stock, par value (in dollars per share)				$ 0.01	$ 0.01
Common stock, issued (in shares)				51,148,782	0
Common stock, outstanding (in shares)				51,148,782	0
Redeemable preferred stock authorized (in shares)				0	1,000,000
Other Expense | Altaris Capital Partners
Class of Stock [Line Items]
Initial public offering bonuses, contract buyout fee, and executive severance		$ 11,054
Initial Public Offering
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction		10,714,286
Sale of stock, price per share (in dollars per share)		$ 15
IPO - Shares Issued and Sold By Trean Corporation
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction		7,142,857
Consideration received on IPO		$ 107,142
IPO - Shares Sold by Selling Stockholders
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction	1,207,142	3,571,429
Consideration received on IPO		$ 71,678
Compstar Holding Company LLC
Class of Stock [Line Items]
Consideration transferred			$ 99,204
Percentage of voting interests acquired			55.00%
Common Stock
Class of Stock [Line Items]
Common stock, outstanding (in shares)				51,148,782	0
Corporate recapitalization shares exchanged				37,386,394
Common Stock | Compstar Holding Company LLC
Class of Stock [Line Items]
Stock issued during period (in shares)			6,613,606	6,613,606
Series A Redeemable Preferred Stock
Class of Stock [Line Items]
Redeemable preferred stock authorized (in shares)				1,000,000
Annual cumulative dividends percentage				4.50%
Series B Redeemable Preferred Stock
Class of Stock [Line Items]
Redeemable preferred stock authorized (in shares)				1,000,000

Equity - Schedule of Cumulative

Equity - Schedule of Cumulative Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Cumulative dividends		$ 254	$ 225
Series A Redeemable Preferred Stock
Class of Stock [Line Items]
Cumulative dividends		$ 43	$ 45
Dividends per share (in dollars per share)		$ 4,500	$ 4,500
Weighted Average Shares		9.62	10
Series B Redeemable Preferred Stock
Class of Stock [Line Items]
Cumulative dividends	$ 128	$ 211	$ 180
Dividends per share (in dollars per share)	$ 2,513.76	$ 3,506.84	$ 3,459.72
Weighted Average Shares	51	60	51.95

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income	$ 90,769	$ 31,285	$ 19,522
Weighted average number of shares outstanding - basic
Weighted average number of shares outstanding - basic (in shares)	43,744,003	37,386,394	37,386,394
Effect of dilutive securities:
Dilutive securities (in shares)	741	0	0
Weighted average number of shares outstanding - diluted
Weighted average number of shares outstanding - diluted (in shares)	43,744,744	37,386,394	37,386,394
Earnings per share:
Basic (in dollars per share)	$ 2.08	$ 0.84	$ 0.52
Diluted (in dollars per share)	$ 2.07	$ 0.84	$ 0.52
Employee Stock
Earnings per share:
Shares excluded from the calculation of diluted EPS	89,920
Exercise price of shares excluded from the calculation of diluted EPS (in dollars per share)	$ 15
Restricted Stock Units (RSUs)
Effect of dilutive securities:
Dilutive securities (in shares)	741	0	0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Less reclassification adjustments to:
Other comprehensive income (loss)	$ 4,706	$ 6,824	$ (2,954)
Stockholders' equity ending balance	410,107
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity beginning balance	4,821	(2,003)	951
Less reclassification adjustments to:
Other comprehensive income (loss)	4,706	6,824	(2,954)
Stockholders' equity ending balance	9,527	4,821	(2,003)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Unrealized investment gains (losses):
Unrealized investment gains (losses) arising during the period	6,218	8,708	(3,964)
Income tax expense (benefit)	1,313	1,831	(832)
Unrealized investment gains (losses), net of tax	4,905	6,877	(3,132)
Less reclassification adjustments to:
Net realized investment gains (losses) included in net realized capital gains (losses)	252	67	(225)
Income tax expense (benefit)	53	14	(47)
Total reclassifications included in net income (loss), net of tax	199	53	(178)
Other comprehensive income (loss)	$ 4,706	$ 6,824	$ (2,954)

Stock Compensation - Narrative

Stock Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense			$ 506	$ 0	$ 0
Non-vested non-option stock-based compensation expense	$ 1,402	$ 1,402	1,402
Fair value of restricted stock units vested			$ 174
2020 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized	5,058,085	5,058,085	5,058,085
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 61	$ 61
Weighted average grant-date fair value of options granted (in dollars per share)			$ 4.43
Unrecognized compensation cost related to stock options	$ 337	337	$ 337
Cost not yet recognized, weighted average period for recognition	9 years 6 months 14 days		1 year 4 months 24 days
Stock Options | Share-based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage			33.00%
Vesting period (in years)			3 years
Contractual term from date of grant (in years)			10 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 445	$ 445
Cost not yet recognized, weighted average period for recognition			2 years 6 months
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			3 years
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			12 months

Stock Compensation - Schedule o

Stock Compensation - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Expected volatility	29.80%
Expected term	6 years
Risk-free interest rate	0.47%

Stock Compensation - Summary of

Stock Compensation - Summary of Stock Option Activity (Details) - Stock Options	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Stock Options
Options outstanding, beginning balance (in shares) | shares	0
Granted (in shares) | shares	89,920
Options outstanding, ending balance (in shares) | shares	89,920
Options exercisable (in shares) | shares	0
Weighted Average Exercise Price
Options outstanding, weighted average exercise price, beginning balance (in dollars per share) | $ / shares	$ 0
Grants in period, weighted average exercise price (in dollars per share) | $ / shares	15
Options outstanding, weighted average exercise price, ending balance (in dollars per share) | $ / shares	15
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 0

Stock Compensation - Summary _2

Stock Compensation - Summary of Options, Vested and Expected to Vest, Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Options Outstanding
Aggregate Intrinsic Value	$ 0	$ 0
Options Vested or Expected to Vest
Number of Shares	89,920	89,920
Weighted Average Exercise Price (in dollars per share)	$ 15	$ 15
Weighted Average Remaining Contract Term	9 years 6 months 14 days
Aggregate Intrinsic Value	$ 0	$ 0
Stock Options
Options Outstanding
Number of Shares	89,920	89,920	0
Weighted Average Exercise Price (in dollars per share)	$ 15	$ 15	$ 0
Weighted Average Remaining Contract Term	9 years 6 months 14 days	1 year 4 months 24 days

Stock Compensation - Summary _3

Stock Compensation - Summary of Nonvested Restricted Stock Unit Activity (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Shares
Non-vested outstanding, beginning balance (in shares) | shares	0
Granted (in shares) | shares	122,828
Vested (in shares) | shares	(11,240)
Non-vested outstanding, ending balance (in shares) | shares	111,588
Weighted Average Grant Date Fair Value
Non-vested outstanding, weighted average grant date fair value, beginning balance (in dollars per share) | $ / shares	$ 0
Grants in period, weighted average exercise price (in dollars per share) | $ / shares	15.04
Vested in period, weighted average exercise price (in dollars per share) | $ / shares	15.51
Non-vested outstanding, weighted average grant date fair value, ending balance (in dollars per share) | $ / shares	$ 14.99

Regulatory Matters - Summary of

Regulatory Matters - Summary of Statutory Basis Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Benchmark Holding Company
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 173,241	$ 135,941
RBC authorized control level	14,379	13,862
Statutory net income	$ 20,475	$ 23,475
RBC percentage	1205.00%	981.00%
American Liberty Insurance Company
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 6,284	$ 5,947
RBC authorized control level	523	733
Statutory net income	$ 111	$ 266
RBC percentage	1202.00%	811.00%
7710 Insurance Company
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 6,370
RBC authorized control level	1,265
Statutory net income	$ 519
RBC percentage	504.00%

Regulatory Matters - Narrative

Regulatory Matters - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Benchmark Holding Company
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 173,241,000	$ 135,941,000
Benchmark Holding Company | KANSAS
Statutory Accounting Practices [Line Items]
Future dividend payments percentage	10.00%
Statutory amount available for dividend payments without regulatory approval	$ 23,475,000	13,551,000
Statutory capital and surplus	1,500,000
American Liberty Insurance Company
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 6,284,000	5,947,000
American Liberty Insurance Company | UTAH
Statutory Accounting Practices [Line Items]
Future dividend payments percentage	10.00%
Statutory amount available for dividend payments without regulatory approval	$ 266,000	$ 467,000
Statutory capital and surplus	300,000
7710 Insurance Company
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 6,370,000
7710 Insurance Company | SOUTH CAROLINA
Statutory Accounting Practices [Line Items]
Future dividend payments percentage	10.00%
Statutory amount available for dividend payments without regulatory approval	$ 118,000
Statutory capital and surplus	$ 1,200,000

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Maximum annual contributions per employee, percent	15.00%
Vesting percentage	25.00%
Contributions by employer	$ 942	$ 721	$ 662
First 5% of Compensation
Defined Contribution Plan Disclosure [Line Items]
Maximum annual contributions per employee, percent	5.00%
Employer matching contribution, percent of match	50.00%
Safe-Harbor Plan
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of match	3.00%

Transactions with Related Par_2

Transactions with Related Parties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jul. 15, 2020individual	Jul. 14, 2020	Jan. 02, 2020
Related Party Transaction [Line Items]
Due from related parties	$ 0	$ 22,221
Gross earned premiums	432,034	397,803	$ 340,145
Altaris Capital Partners | Affiliated Entity
Related Party Transaction [Line Items]
Due to related parties		83
Altaris Capital Partners | Affiliated Entity | Outstanding Common Stock Owned, 35% Or More
Related Party Transaction [Line Items]
Percentage of outstanding common stock owned				35.00%
Number of individuals that can be nominated | individual				3
Altaris Capital Partners | Affiliated Entity | Outstanding Common Stock Owned, 20% Or More But Less Than 35%
Related Party Transaction [Line Items]
Number of individuals that can be nominated | individual				2
Altaris Capital Partners | Affiliated Entity | Outstanding Common Stock Owned, 20% Or More But Less Than 35% | Minimum
Related Party Transaction [Line Items]
Percentage of outstanding common stock owned				20.00%
Altaris Capital Partners | Affiliated Entity | Outstanding Common Stock Owned, 20% Or More But Less Than 35% | Maximum
Related Party Transaction [Line Items]
Percentage of outstanding common stock owned				35.00%
Altaris Capital Partners | Affiliated Entity | Outstanding Common Stock Owned, 10% Or More But Less Than 20%
Related Party Transaction [Line Items]
Number of individuals that can be nominated | individual				1
Altaris Capital Partners | Affiliated Entity | Outstanding Common Stock Owned, 10% Or More But Less Than 20% | Minimum
Related Party Transaction [Line Items]
Percentage of outstanding common stock owned				10.00%
Altaris Capital Partners | Affiliated Entity | Outstanding Common Stock Owned, 10% Or More But Less Than 20% | Maximum
Related Party Transaction [Line Items]
Percentage of outstanding common stock owned				20.00%
Altaris Capital Partners | Affiliated Entity | Management Fees
Related Party Transaction [Line Items]
Payment for management fee	500	1,000	1,000
Altaris Capital Partners | Affiliated Entity | Termination Fee
Related Party Transaction [Line Items]
Payment of contract buyout fee	7,639
Trean Intermediaries
Related Party Transaction [Line Items]
Ownership percentage						25.00%
Trean Intermediaries | Affiliated Entity
Related Party Transaction [Line Items]
Due from related parties		14
Revenue from related parties	$ 200	200	144
Compstar Holding Company LLC
Related Party Transaction [Line Items]
Ownership percentage	45.00%				45.00%
Compstar Holding Company LLC | Program Manager Agreement
Related Party Transaction [Line Items]
Due from related parties		22,207
Compstar Holding Company LLC | Affiliated Entity | Program Manager Agreement
Related Party Transaction [Line Items]
Gross earned premiums	$ 90,199	176,083	116,584
Gross commissions	$ 17,709	$ 37,034	$ 24,711

Schedule II. Condensed Financ_3

Schedule II. Condensed Financial Information of Registrant - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets
Total investments	$ 409,610	$ 350,873
Cash and cash equivalents	153,149	74,268	$ 53,574
Income taxes receivable	1,322	0
Deferred tax asset, net	0	1,367	1,615
Total assets	1,369,783	919,034
Liabilities
Accounts payable and accrued expenses	61,240	14,995
Total liabilities	959,676	772,319
Stockholders' equity
Common stock, $0.01 par value per share (600,000,000 authorized; 51,148,782 issued and outstanding)	511
Additional paid-in capital	287,110	17,995
Retained earnings	112,959	40,361	$ 10,474
Accumulated other comprehensive income	9,527	4,821
Total stockholders' equity	410,107
Total liabilities and stockholders' equity	1,369,783	$ 919,034
Parent Company
Assets
Investment in subsidiaries	252,607
Total investments	252,607
Cash and cash equivalents	683
Income taxes receivable	4,579
Intercompany receivables	152,643
Deferred tax asset, net	257
Total assets	410,769
Liabilities
Accounts payable and accrued expenses	662
Total liabilities	662
Stockholders' equity
Common stock, $0.01 par value per share (600,000,000 authorized; 51,148,782 issued and outstanding)	511
Additional paid-in capital	287,110
Retained earnings	112,959
Accumulated other comprehensive income	9,527
Total stockholders' equity	410,107
Total liabilities and stockholders' equity	$ 410,769

Schedule II. Condensed Financ_4

Schedule II. Condensed Financial Information of Registrant - Condensed Balance Sheet Parenthetical (Details) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	600,000,000	0
Common stock, issued (in shares)	51,148,782	0
Common stock, outstanding (in shares)	51,148,782	0
Parent Company
Common stock, par value (in dollars per share)	$ 0.01
Common stock, authorized (in shares)	600,000,000
Common stock, issued (in shares)	51,148,782
Common stock, outstanding (in shares)	51,148,782

Schedule II. Condensed Financ_5

Schedule II. Condensed Financial Information of Registrant - Condensed Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Other revenue	$ 12,104	$ 9,125	$ 7,826
Total revenue	202,106	102,515	78,503
Expenses
General and administrative expenses	38,668	20,959	15,679
Noncash stock compensation	506	0	0
Interest expense	1,922	2,169	1,557
Total expenses	107,870	67,835	52,992
Loss before taxes	95,261	34,801	26,150
Income tax benefit	6,825	7,074	5,546
Equity earnings of subsidiaries	2,333	3,558	(1,082)
Net income	90,769	$ 31,285	$ 19,522
Parent Company
Revenues
Other revenue	300
Total revenue	300
Expenses
General and administrative expenses	1,118
Other expenses	11,054
Noncash stock compensation	506
Interest expense	299
Total expenses	12,977
Loss before taxes	(12,677)
Income tax benefit	(1,993)
Loss before equity earnings of subsidiaries	(10,684)
Equity earnings of subsidiaries	101,453
Net income	$ 90,769

Schedule II. Condensed Financ_6

Schedule II. Condensed Financial Information of Registrant - Condensed Statement of Cash Flows (Details) - USD ($) $ in Thousands	Jul. 20, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net income		$ 90,769	$ 31,285	$ 19,522
Adjustments to reconcile net income to net cash from operating activities:
Stock compensation		506	0	0
Equity (earnings) losses in subsidiaries		(2,333)	(3,558)	1,082
Deferred income taxes		(445)	(1,118)	(71)
Changes in operating assets and liabilities:
Premiums and other receivables		(18,499)	(4,777)	(13,862)
Other assets		4,459	631	(769)
Accounts payable and accrued expenses		(2,976)	(639)	3,647
Income taxes payable		(1,986)	(1,278)	583
Net cash provided by operating activities		50,012	52,173	75,266
Investing activities
Net cash used in investing activities		(20,246)	(23,943)	(78,559)
Financing activities
Shares redeemed for payroll taxes		82	0	0
Proceeds from initial public offering	$ 93,139	99,643	0	0
Deferred offering costs		(5,839)	0	0
Net cash provided by (used in) financing activities		51,400	(8,125)	14,282
Net increase in cash, cash equivalents and restricted cash		81,166	20,105	10,989
Cash, cash equivalents and restricted cash ‑ beginning of period		76,068	55,963	44,974
Cash, cash equivalents and restricted cash ‑ end of period		157,234	76,068	$ 55,963
Parent Company
Operating activities
Net income		90,769
Adjustments to reconcile net income to net cash from operating activities:
Stock compensation		506
Equity (earnings) losses in subsidiaries		(101,453)
Deferred income taxes		(257)
Changes in operating assets and liabilities:
Premiums and other receivables		300
Other assets		(665)
Accounts payable and accrued expenses		662
Income taxes payable		(4,579)
Intercompany receivables		(7,099)
Net cash provided by operating activities		(21,816)
Investing activities
Capital contributions to subsidiaries		(71,489)
Net cash used in investing activities		(71,489)
Financing activities
Shares redeemed for payroll taxes		(82)
Proceeds from initial public offering		99,643
Deferred offering costs		(5,839)
Cash contributed in formation of the Company		266
Net cash provided by (used in) financing activities		93,988
Net increase in cash, cash equivalents and restricted cash		683
Cash, cash equivalents and restricted cash ‑ beginning of period		0
Cash, cash equivalents and restricted cash ‑ end of period		$ 683	$ 0