Trean Insurance 10-Q 13 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Aug. 06, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
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 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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,173,844
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001801754
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Investments [Abstract]
Fixed maturities, at fair value (amortized cost of $414,166 and $388,409, respectively)	$ 424,943	$ 405,604
Equity securities, FV-NI	2,976	3,774
Equity method investments	0	232
Total investments	427,919	409,610
Cash and cash equivalents	101,361	153,149
Restricted cash	12,469	4,085
Accrued investment income	2,329	2,458
Premiums and other receivables	131,930	109,217
Income taxes receivable	5,113	1,322
Reinsurance recoverable	361,943	343,213
Prepaid reinsurance premiums	121,004	107,971
Deferred policy acquisition cost, net	6,424	1,332
Property and equipment, net	7,780	8,254
Right of use asset	5,378	6,338
Goodwill	140,640	140,640
Intangible assets, net	72,489	75,316
Other assets	8,410	6,878
Total assets	1,405,189	1,369,783
Liabilities
Unpaid loss and loss adjustment expenses	502,560	457,817
Unearned premiums	194,388	157,987
Funds held under reinsurance agreements	161,013	174,704
Reinsurance premiums payable	51,681	57,069
Accounts payable and accrued expenses	31,017	61,240
Lease liability	5,855	6,893
Deferred tax liability	10,229	12,329
Debt	31,103	31,637
Total liabilities	987,846	959,676
Commitments and contingencies
Equity [Abstract]
Common stock, $0.01 par value per share (600,000,000 authorized; 51,157,004 and 51,148,782 issued and outstanding as of June 30, 2021 and December 31, 2020, respectively)	511	511
Additional paid-in capital	287,734	287,110
Retained earnings	120,628	109,060
Accumulated other comprehensive income	8,470	13,426
Total stockholders' equity	417,343	410,107
Total liabilities and stockholders' equity	1,405,189	1,369,783
Preferred stock
Investments [Abstract]
Equity securities, FV-NI	235	240
Common stock
Investments [Abstract]
Equity securities, FV-NI	$ 2,741	$ 3,534

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Amortized cost	$ 414,166	$ 388,409
Equity securities, cost	$ 984	$ 1,797
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	600,000,000	600,000,000
Common stock, issued (in shares)	51,157,004	51,148,782
Common stock, outstanding (in shares)	51,157,004	51,148,782
Preferred stock
Equity securities, cost	$ 243	$ 243
Common stock
Equity securities, cost	$ 741	$ 1,554

Condensed Consolidated and Cond

Condensed Consolidated and Condensed Combined Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Gross written premiums	$ 156,551	$ 109,612	$ 303,281	$ 217,471
Increase in gross unearned premiums	(17,927)	(9,265)	(36,358)	(16,638)
Gross earned premiums	138,624	100,347	266,923	200,833
Ceded earned premiums	(90,681)	(78,968)	(177,846)	(156,995)
Net earned premiums	47,943	21,379	89,077	43,838
Net investment income	2,103	2,525	4,375	6,770
Net realized capital gains (losses)	10	(4)	23	3,230
Other revenue	1,229	1,530	5,884	5,922
Total revenue	51,285	25,430	99,359	59,760
Expenses
Losses and loss adjustment expenses	29,725	12,183	54,606	25,117
General and administrative expenses	15,267	8,293	27,158	16,442
Other expenses	845	0	845	0
Intangible asset amortization	1,413	23	2,827	34
Noncash stock compensation	419	0	630	0
Interest expense	425	501	852	962
Total expenses	48,094	21,000	86,918	42,555
Gains (losses) on embedded derivatives	(686)	(3,991)	1,990	(5,180)
Other income	35	40	156	54
Income before taxes	2,540	479	14,587	12,079
Income tax expense	414	351	3,019	3,218
Equity earnings in affiliates, net of tax	0	1,230	0	1,932
Net income	$ 2,126	$ 1,358	$ 11,568	$ 10,793
Earnings per share:
Basic (in dollars per share)	$ 0.04	$ 0.04	$ 0.23	$ 0.29
Diluted (in dollars per share)	$ 0.04	$ 0.04	$ 0.23	$ 0.29
Weighted average shares outstanding:
Weighted average number of shares outstanding - basic (in shares)	51,152,979	37,386,394	51,150,881	37,386,394
Weighted average number of shares outstanding - diluted (in shares)	51,166,587	37,386,394	51,173,204	37,386,394

Condensed Consolidated and Co_2

Condensed Consolidated and Condensed Combined Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 2,126	$ 1,358	$ 11,568	$ 10,793
Unrealized investment gains (losses):
Unrealized investment gains (losses) arising during the period	2,325	9,242	(6,251)	8,235
Income tax expense (benefit)	488	1,938	(1,313)	1,727
Unrealized investment gains (losses), net of tax	1,837	7,304	(4,938)	6,508
Less reclassification adjustments to:
Net realized investment gains (losses) included in net realized capital gains (losses)	10	(1)	23	118
Income tax expense (benefit)	2	(1)	5	25
Total reclassifications included in net income, net of tax	8	0	18	93
Other comprehensive income (loss)	1,829	7,304	(4,956)	6,415
Total comprehensive income	$ 3,955	$ 8,662	$ 6,612	$ 17,208

Condensed Consolidated and Co_3

Condensed Consolidated and Condensed Combined Statements of Stockholders’ Equity and Redeemable Preferred Stock - USD ($) $ in Thousands	Total	Series B Preferred Stock	Common stock	Common stockClass A - Non Voting	Common stockClass B - Voting	Common stockClass B - Non Voting	Common stockClass C - Non Voting	Additional Paid in Capital	Accumulated Other Comprehensive Income	Retained Earnings	Retained EarningsSeries B Preferred Stock
Redeemable preferred stock beginning balance (in shares) at Dec. 31, 2019	51
Redeemable preferred stock beginning balance at Dec. 31, 2019	$ 5,100
Redeemable preferred stock ending balance (in shares) at Jun. 30, 2020	51
Redeemable preferred stock ending balance at Jun. 30, 2020	$ 5,100
Beginning balance (in shares) at Dec. 31, 2019			0	65,036,780	5,045,215	8,159,775	196,588
Members' equity beginning balance at Dec. 31, 2019	141,615		$ 0	$ 65,037	$ 5,045	$ 8,160	$ 196	$ 17,995	$ 6,500	$ 38,682
Shareholders' equity beginning balance at Dec. 31, 2019									6,500
Redeemable Preferred Stock
Issuance of Class C units (in shares)							39,317
Issuance of Class C units	40						$ 40
Distributions to members	(19,496)							(1,453)		(18,043)
Dividends on Series B preferred stock		$ (83)									$ (83)
Stock compensation expense	0
Other comprehensive income (loss)	6,415								6,415
Net income	10,793									10,793
Ending balance (in shares) at Jun. 30, 2020			0	65,036,780	5,045,215	8,159,775	235,905
Members' equity ending balance at Jun. 30, 2020	$ 139,284		$ 0	$ 65,037	$ 5,045	$ 8,160	$ 236	16,542	12,915	31,349
Shareholders' equity ending balance at Jun. 30, 2020									12,915
Redeemable preferred stock beginning balance (in shares) at Mar. 31, 2020	51
Redeemable preferred stock beginning balance at Mar. 31, 2020	$ 5,100
Redeemable preferred stock ending balance (in shares) at Jun. 30, 2020	51
Redeemable preferred stock ending balance at Jun. 30, 2020	$ 5,100
Beginning balance (in shares) at Mar. 31, 2020			0	65,036,780	5,045,215	8,159,775	216,247
Members' equity beginning balance at Mar. 31, 2020	150,181		$ 0	$ 65,037	$ 5,045	$ 8,160	$ 216	17,995	5,611	48,117
Shareholders' equity beginning balance at Mar. 31, 2020									5,611
Redeemable Preferred Stock
Issuance of Class C units (in shares)							19,658
Issuance of Class C units	20						$ 20
Distributions to members	(19,496)							(1,453)		(18,043)
Dividends on Series B preferred stock		$ (83)									$ (83)
Other comprehensive income (loss)	7,304								7,304
Net income	1,358									1,358
Ending balance (in shares) at Jun. 30, 2020			0	65,036,780	5,045,215	8,159,775	235,905
Members' equity ending balance at Jun. 30, 2020	$ 139,284		$ 0	$ 65,037	$ 5,045	$ 8,160	$ 236	16,542	12,915	31,349
Shareholders' equity ending balance at Jun. 30, 2020									12,915
Beginning balance (in shares) at Dec. 31, 2020	51,148,782		51,148,782
Shareholders' equity beginning balance at Dec. 31, 2020	$ 410,107		$ 511					287,110	13,426	109,060
Redeemable Preferred Stock
Distributions to members	0
Stock compensation expense	630							630
Common stock issuances pursuant to equity compensation awards, net of shares repurchased (in shares)			8,222
Common stock issuances pursuant to equity compensation awards, net of shares repurchased	(6)							(6)
Other comprehensive income (loss)	(4,956)								(4,956)
Net income	$ 11,568									11,568
Ending balance (in shares) at Jun. 30, 2021	51,157,004		51,157,004
Shareholders' equity ending balance at Jun. 30, 2021	$ 417,343		$ 511					287,734	8,470	120,628
Beginning balance (in shares) at Mar. 31, 2021			51,148,782
Shareholders' equity beginning balance at Mar. 31, 2021	412,975		$ 511					287,321	6,641	118,502
Redeemable Preferred Stock
Stock compensation expense	419							419
Common stock issuances pursuant to equity compensation awards, net of shares repurchased (in shares)			8,222
Common stock issuances pursuant to equity compensation awards, net of shares repurchased	(6)							(6)
Other comprehensive income (loss)	1,829								1,829
Net income	$ 2,126									2,126
Ending balance (in shares) at Jun. 30, 2021	51,157,004		51,157,004
Shareholders' equity ending balance at Jun. 30, 2021	$ 417,343		$ 511					$ 287,734	$ 8,470	$ 120,628

Condensed Consolidated and Co_4

Condensed Consolidated and Condensed Combined Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating activities
Net income	$ 11,568	$ 10,793
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	3,374	458
Stock compensation	630	0
Unrealized (gains) losses on embedded derivatives	(3,189)	3,206
Net capital gains	(23)	(5,042)
Deferred offering costs	0	(1,339)
Bond amortization and accretion	1,174	944
Issuance of member units as compensation	0	40
Equity earnings in affiliates, net of tax	0	(1,932)
Distributions from equity method investments	0	2,413
Deferred income taxes	(781)	(324)
Deferred financing costs	84	48
Changes in operating assets and liabilities:
Accrued investment income	129	(137)
Premiums and other receivables	(22,714)	(10,666)
Reinsurance recoverable on paid and unpaid losses	(18,730)	(26,786)
Prepaid reinsurance premiums	(13,033)	(11,223)
Right of use asset	959	(5,958)
Other assets	(6,623)	(3,284)
Unpaid loss and loss adjustment expenses	44,742	35,784
Unearned premiums	36,401	16,638
Funds held under reinsurance agreements	3,080	(1,306)
Reinsurance premiums payable	(5,388)	409
Accounts payable and accrued expenses	(4,011)	19,591
Lease liability	(1,038)	6,186
Income taxes payable	(3,791)	3,270
Net cash provided by operating activities	22,820	31,783
Investing activities
Payments for capital expenditures	(73)	(554)
Proceeds from sale of equity method investment	232	3,000
Return of capital on equity method investment	0	115
Purchase of investments, available for sale	(104,183)	(55,695)
Proceeds from investments sold, matured or repaid	38,425	60,339
Acquisition of subsidiary, net of cash received	0	(1,098)
Net cash provided by (used in) investing activities	(65,599)	6,107
Financing activities
Shares redeemed for payroll taxes	(6)	0
Proceeds from credit agreement	0	32,453
Principal payments on debt	(619)	(21,843)
Distribution to members	0	(19,496)
Net cash used in financing activities	(625)	(8,886)
Net increase (decrease) in cash, cash equivalents and restricted cash	(43,404)	29,004
Cash, cash equivalents and restricted cash ‑ beginning of period	157,234	76,068
Cash, cash equivalents and restricted cash ‑ end of period	113,830	105,072
Disaggregation of cash and restricted cash:
Cash and cash equivalents	101,361	97,326
Restricted cash	12,469	7,746
Total cash, cash equivalents and restricted cash	113,830	105,072
Supplemental disclosure of cash flow information:
Interest	768	914
Income taxes	7,548	201
Right-of-use assets obtained in exchange for new operating lease liabilities	31	6,906
Non-cash transfer of investments to settle funds held for reinsurance	13,562	0
Non-cash transfer of investments to settle amounts held for others in accounts payable	26,211	0
Operating cash flows from operating leases	$ 1,217	$ 906

Business and Basis of Presentat

Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2021
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 condensed 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 condensed consolidated financial statements for all pre-IPO periods include the condensed combined financial statements of BIC and Trean, along with their wholly owned subsidiaries, after elimination of intercompany accounts and transactions. All dollar amounts are shown in thousands, except share and per share amounts. 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, a reinsurance intermediary broker; Benchmark Administrators LLC, a claims third-party administrator; and Westcap Insurance Services, LLC, a managing general agent based in California. The accompanying condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to the Quarterly Report on Form 10-Q under the Securities Exchange Act of 1934. Accordingly, they do not contain all of the information included in the Company's annual consolidated financial statements and notes. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) necessary for a fair presentation of the Company’s condensed consolidated financial position and results of operations for the periods presented have been included. Although management believes the disclosures and information presented are adequate, these interim condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2020 (the "2020 Form 10-K"). Operating results for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. During the second quarter of 2021, the Company determined that its funds held agreements with reinsurers contain embedded derivatives relating to a total return swap on the underlying investments. As a result, the Company will now report the change in fair value of the embedded derivatives in gains (losses) on embedded derivatives in the condensed consolidated and combined statements of operations. In addition, investment earnings credited to the funds withheld accounts will be reported in gains (losses) on embedded derivatives in the condensed consolidated and combined statements of operations, whereas previously these were reported as an offset to net investment income. While the prior period amounts have been corrected for comparability, the correction was not material to the previously reported condensed consolidated and condensed combined financial statements. The impact of the prior period corrections on the condensed consolidated balance sheet and the related components of stockholders' equity is as follows: March 31, 2021 December 31, 2020 Previously reported Adjustment As reported Previously reported Adjustment As reported Retained earnings $ 119,750 $ (1,248) $ 118,502 $ 112,959 $ (3,899) $ 109,060 Accumulated other comprehensive income 5,393 1,248 6,641 9,527 3,899 13,426 June 30, 2020 March 31, 2020 December 31, 2019 Previously reported Adjustment As reported Previously reported Adjustment As reported Previously reported Adjustment As reported Retained earnings $ 35,561 $ (4,212) $ 31,349 $ 49,967 $ (1,850) $ 48,117 $ 40,361 $ (1,679) $ 38,682 Accumulated other comprehensive income 8,703 4,212 12,915 3,761 1,850 5,611 4,821 1,679 6,500 The impact of the prior period corrections on the condensed consolidated statements of operations and other comprehensive income is as follows: Three Months Ended June 30, 2020 Previously reported Adjustment As reported Net investment income $ 1,524 $ 1,001 $ 2,525 Total revenue 24,429 1,001 25,430 Gains (losses) on embedded derivatives — (3,991) (3,991) Income before taxes 3,469 (2,990) 479 Income tax expense 979 (628) 351 Net income $ 3,720 $ (2,362) $ 1,358 Earnings per share: Basic $ 0.10 $ (0.06) $ 0.04 Diluted $ 0.10 $ (0.06) $ 0.04 Other comprehensive income, net of tax Unrealized investment gains: Unrealized investment gains arising during the period $ 6,252 $ 2,990 $ 9,242 Income tax expense 1,310 628 1,938 Unrealized investment gains, net of tax 4,942 2,362 7,304 Other comprehensive income $ 4,942 $ 2,362 $ 7,304 Six Months Ended June 30, 2020 Previously reported Adjustment As reported Net investment income $ 4,796 $ 1,974 $ 6,770 Total revenue 57,786 1,974 59,760 Gains (losses) on embedded derivatives — (5,180) (5,180) Income before taxes 15,285 (3,206) 12,079 Income tax expense 3,891 (673) 3,218 Net income $ 13,326 $ (2,533) $ 10,793 Earnings per share: Basic $ 0.36 $ (0.07) $ 0.29 Diluted $ 0.36 $ (0.07) $ 0.29 Other comprehensive income, net of tax Unrealized investment gains: Unrealized investment gains arising during the period $ 5,029 $ 3,206 $ 8,235 Income tax expense 1,054 673 1,727 Unrealized investment gains, net of tax 3,975 2,533 6,508 Other comprehensive income $ 3,882 $ 2,533 $ 6,415 The correction of the prior period amounts had no impact on total operating, investing and financing activities on the Company’s condensed consolidated and condensed combined statements of cash flows during the six months ended June 30, 2020. In conjunction with the correction of the prior period amounts, the fair value leveling table as of December 31, 2020 in Note 3 was corrected from $174,704, which represented the total funds withheld under reinsurance agreements liability, to $4,937, which relates only to the fair value of the embedded derivative; the net investment income table in Note 4 was corrected to incorporate the income from funds held investments of $1,001 and $1,974 for the three and six months ended June 30, 2020, respectively; the effective tax rate in Note 8 was corrected from 28.2% to 73.3% for the three months ended June 30, 2020 and from 25.5% to 26.6% for the six months ended June 30, 2020; and Note 14 has been corrected to reflect the changes to other comprehensive income described above. Use of estimates While preparing the condensed 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 condensed 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 recoveries, investments and goodwill and other intangible assets. Except for the captions on the condensed consolidated balance sheets and condensed consolidated statements of comprehensive income, generally, the term loss(es) is used to collectively refer to both loss 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 condensed 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 . The Company adopted items (i) and (ii) effective January 1, 2020 and will adopt item (iii) on January 1, 2023. Adoption of this standard has not had, and is not expected to have, a material impact on the condensed 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 condensed 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 condensed consolidated financial statements.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [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 the liability for unpaid loss and loss adjustment expense assumed, deferred taxes 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 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. 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. As a result, the fair value attributable to the Company’s previous equity interest was $81,167 and the carrying value was $11,321, and the Company therefore recorded a gain of $69,846 from the remeasurement of its previous equity interest. 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. The assessment of fair value and the determination of deferred taxes and other payables and receivables are preliminary and are based on the information that was available at the time the condensed consolidated financial statements were prepared. Accordingly, the allocation of purchase price to intangible assets and to deferred tax assets and liabilities is preliminary and, therefore, subject to adjustment in future periods. 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 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 through the reduction of operating expenses. The Company also recorded 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 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 through the reduction of operating expenses.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
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. June 30, 2021 Level 1 Level 2 Level 3 Total Fixed maturities: U.S. government and government securities $ 28,531 $ 175 $ — $ 28,706 Foreign governments — 2,600 — 2,600 States, territories and possessions — 8,456 — 8,456 Political subdivisions of states territories and possessions — 32,166 — 32,166 Special revenue and special assessment obligations — 93,441 — 93,441 Industrial and public utilities — 105,987 — 105,987 Commercial mortgage-backed securities — 13,129 — 13,129 Residential mortgage-backed securities — 95,652 — 95,652 Other loan-backed securities — 44,444 — 44,444 Hybrid securities — 362 — 362 Total fixed maturities 28,531 396,412 — 424,943 Equity securities: Preferred stock — 235 — 235 Common stock — 741 2,000 2,741 Total equity securities — 976 2,000 2,976 Total investments $ 28,531 $ 397,388 $ 2,000 $ 427,919 Embedded derivatives on funds held under reinsurance agreements $ 111 $ 1,636 $ — $ 1,747 Debt — 31,763 — 31,763 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 Embedded derivatives on funds held under reinsurance agreements $ 176 $ 4,761 $ — $ 4,937 Debt — 32,381 — 32,381 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. Embedded derivatives: The Company enters into funds held contracts under reinsurance agreements which create embedded derivatives on the underlying investments. These embedded derivatives are valued based upon the unrealized gain or loss position of the funds held portfolio, which is determined consistent with 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 its secured credit facility. 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	6 Months Ended
	Jun. 30, 2021
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: June 30, 2021 Cost or Gross Gross Fair Value Fixed maturities: U.S. government and government securities $ 28,510 $ 217 $ (21) $ 28,706 Foreign governments 2,599 1 — 2,600 States, territories and possessions 8,240 225 (9) 8,456 Political subdivisions of states, territories and possessions 31,120 1,087 (41) 32,166 Special revenue and special assessment obligations 90,047 3,634 (240) 93,441 Industrial and public utilities 101,624 4,450 (87) 105,987 Commercial mortgage-backed securities 12,032 1,097 — 13,129 Residential mortgage-backed securities 95,667 890 (905) 95,652 Other loan-backed securities 43,972 501 (29) 44,444 Hybrid securities 355 7 — 362 Total fixed maturities available for sale 414,166 12,109 (1,332) 424,943 Equity securities: Preferred stock 243 — (8) 235 Common stock 741 2,000 — 2,741 Total equity securities 984 2,000 (8) 2,976 Total investments $ 415,150 $ 14,109 $ (1,340) $ 427,919 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 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: June 30, 2021 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 $ 6,627 $ (21) $ — $ — $ 6,627 $ (21) Foreign governments — — — — — — States, territories and possessions 316 (9) — — 316 (9) Political subdivisions of states, territories and possessions 4,188 (41) — — 4,188 (41) Special revenue and special assessment obligations 17,868 (240) — — 17,868 (240) Industrial and public utilities 15,323 (87) — — 15,323 (87) Commercial mortgage-backed securities — — — — — — Residential mortgage-backed securities 57,307 (877) 737 (28) 58,044 (905) Other loan-backed securities 10,464 (9) 2,480 (20) 12,944 (29) Hybrid securities 250 — — — 250 — Total bonds $ 112,343 $ (1,284) $ 3,217 $ (48) $ 115,560 $ (1,332) 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) The unrealized losses on the Company’s available for sale securities as of June 30, 2021 and December 31, 2020 were primarily attributable to an increase in interest rates, which predominantly impacted fixed maturities acquired since the second quarter of 2020. The amortized cost and estimated fair value of fixed maturities as of June 30, 2021, by contractual maturity, are as follows: Cost or Amortized Cost Fair Value Available for sale: Due in one year or less $ 30,510 $ 30,870 Due after one year but before five years 103,298 106,728 Due after five years but before ten years 64,393 67,848 Due after ten years 64,294 66,272 Commercial mortgage-backed securities 12,032 13,129 Residential mortgage-backed securities 95,667 95,652 Other loan-backed securities 43,972 44,444 Total $ 414,166 $ 424,943 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 condensed consolidated statements of operations for the three and six months ended June 30, 2021 and 2020 are as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Fixed maturities: Gains $ 18 $ — $ 98 $ 119 Losses (8) (1) (75) (1) Total fixed maturities 10 (1) 23 118 Equity securities: Equity method investments: Gains — — — 3,115 Total equity securities — — — 3,115 Total net investment realized gains (losses) $ 10 $ (1) $ 23 $ 3,233 Net investment income consists of the following for the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Fixed maturities $ 1,577 $ 1,408 $ 3,137 $ 2,880 Income on funds held investments 519 1,001 1,199 1,974 Preferred stock 6 34 36 20 Common stock — 75 — 1,874 Interest earned on cash and short-term investments 1 7 3 22 Net investment income $ 2,103 $ 2,525 $ 4,375 $ 6,770 Embedded derivatives The Company enters into funds held contracts under reinsurance agreements which create embedded derivatives, which are measured at fair value. The embedded derivatives within our funds held under reinsurance agreements relate to a total return swap on the underlying investments. Total funds held under reinsurance agreements includes the following: June 30, 2021 December 31, 2020 Funds held under reinsurance agreements, at cost $ 159,266 $ 169,767 Embedded derivatives, at fair value 1,747 4,937 Total funds held under reinsurance agreements $ 161,013 $ 174,704 The change in value of embedded derivatives for the three months ended June 30, 2021 and 2020 was a loss of $167 and $2,990, respectively. The change in value of embedded derivatives for the six months ended June 30, 2021 was a gain of $3,189, compared to a loss of $3,206 for the six months ended June 30, 2020. Changes in value of embedded derivatives is included in gains (losses) on embedded derivatives in the consolidated statement of operations. Investment expenses associated with the embedded derivatives for the three and six months ended June 30, 2021 was $519 and $1,199, respectively, compared to $1,001 and $1,974 for the three and six months ended June 30, 2020, which is included in gains (losses) on embedded derivatives on the consolidated statement of operations. These embedded derivatives had no impact on total operating, investing and financing activities on the Company’s condensed consolidated statements of cash flows during the three and six months ended June 30, 2021 and 2020.

Equity Method Investments

Equity Method Investments	6 Months Ended
	Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments The Company had investments in Compstar and Trean Intermediaries ("TRI"). Equity earnings and losses are reported in equity earnings in affiliates, net of tax on the condensed consolidated statements of operations. On July 15, 2020, the Company purchased the remaining 55% ownership interest in Compstar (See Note 2) and, as a result, Compstar is no longer recorded as an equity method investment. For the three and six months ended June 30, 2020, the Company recorded earnings of $1,230 and $1,932, respectively, and received distributions of $1,024 and $2,302, respectively. On January 3, 2020, the Company sold 15% of its previous 25% ownership in TRI for cash proceeds of $3,000 resulting in a remaining ownership interest of 10%. 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 on the condensed 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 condensed consolidated statement of operations. The Company received distributions of $225 for the six months ended June 30, 2020. The Company currently maintains a 4% ownership interest in TRI due to further ownership dilution under its current operating agreement.

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following: June 30, 2021 December 31, 2020 Secured credit facility $ 31,763 $ 32,381 Less: unamortized deferred financing costs (660) (744) Net debt $ 31,103 $ 31,637 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 May 26, 2020, the Company entered into a new 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%, which was 4.71% and 4.72% as of June 30, 2021 and December 31, 2020, 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. The Company recorded $383 and $388 of interest expense with its credit facility during the three months ended June 30, 2021 and 2020, respectively. During the six months ended June 30, 2021 and 2020, the Company recorded $768 and $722 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 June 30, 2021 and December 31, 2020.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2021
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 and other fee-based revenue. Revenue from contracts with customers was $1,229 and $5,884 for the three and six months ended June 30, 2021, respectively, compared to $1,530 and $5,922 for the three and six months ended June 30, 2020, respectively. The following table presents the revenues recognized from contracts with customers included in the condensed consolidated statements of operations. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Brokerage $ 770 $ 755 $ 4,225 $ 4,448 Managing general agent fees 30 254 319 408 Third-party administrator fees 376 383 754 767 Consulting and other fee-based revenue 53 138 586 299 Total revenue from contracts with customers $ 1,229 $ 1,530 $ 5,884 $ 5,922 The Company did not have any contract liabilities as of June 30, 2021 or December 31, 2020. The following table provides information related to the contract assets from contracts with customers. Contract assets are included within other assets on the condensed consolidated balance sheets. June 30, 2021 December 31, 2020 Contract assets $ 4,623 $ 3,405

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense for interim periods is measured using an estimated effective income tax rate for the annual period. The Company's effective tax rate was 16.3% for the three months ended June 30, 2021. The effective tax rate differed from the statutory rate primarily due to the impact of tax-exempt municipal income on the Company's investments. The Company's effective tax rate was 20.7% for the six months ended June 30, 2021. The effective tax rate differed from the statutory rate primarily due to the impact of tax-exempt municipal income on the Company's investments. The Company’s effective tax rate was 73.3% and 26.6% for the three and six months ended June 30, 2020, respectively. The effective tax rate differed from the statutory rate primarily due to the impact of state taxes and the deferred tax effect of a tax accounting method change on excess ceding commissions.

Liability for Unpaid Losses and

Liability for Unpaid Losses and Loss Adjustment Expense	6 Months Ended
	Jun. 30, 2021
Insurance [Abstract]
Liability for Unpaid Losses and Loss Adjustment Expense	Liability for Unpaid Losses and Loss Adjustment Expense The following table represents a reconciliation of changes in the liability for unpaid losses and LAE. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Unpaid losses and LAE reserves at beginning of period $ 485,532 $ 418,757 $ 457,817 $ 406,716 Less losses ceded through reinsurance (353,158) (312,105) (335,655) (304,005) Net unpaid losses and LAE at beginning of period 132,374 106,652 122,162 102,711 Incurred losses and LAE related to: Current period 30,178 13,020 55,085 27,189 Prior period (453) (837) (479) (2,072) Total incurred losses and LAE 29,725 12,183 54,606 25,117 Paid losses and LAE, net of reinsurance, related to: Current period 8,950 3,392 12,473 4,590 Prior period 9,190 5,708 20,336 13,503 Total paid losses and LAE 18,140 9,100 32,809 18,093 Net unpaid losses and LAE at end of period 143,959 109,735 143,959 109,735 Plus losses ceded through reinsurance 358,601 332,765 358,601 332,765 Unpaid losses and LAE reserves at end of period $ 502,560 $ 442,500 $ 502,560 $ 442,500 During the three and six months ended June 30, 2021, the reserves for unpaid losses and LAE developed favorably by $453 and $479, respectively, primarily attributable to net case reserve releases. During the three and six months ended June 30, 2020, the reserves for unpaid losses and LAE developed favorably by $837 and $2,072, respectively, primarily attributable to the development in the Company’s workers’ compensation book of business.

Reinsurance

Reinsurance	6 Months Ended
	Jun. 30, 2021
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. A summary of the impact of ceded reinsurance on premiums written and premiums earned is as follows: Three Months Ended June 30, 2021 2020 Gross Assumed Ceded Net Gross Assumed Ceded Net Written premiums $ 153,049 $ 3,502 $ (101,306) $ 55,245 $ 107,596 $ 2,016 $ (86,586) $ 23,026 Earned premiums 136,362 2,262 (90,681) 47,943 98,337 2,010 (78,968) 21,379 Six Months Ended June 30, 2021 2020 Gross Assumed Ceded Net Gross Assumed Ceded Net Written premiums $ 297,947 $ 5,334 $ (190,790) $ 112,491 $ 213,573 $ 3,898 $ (168,218) $ 49,253 Earned premiums 262,766 4,157 (177,846) 89,077 196,880 3,953 (156,995) 43,838

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Leases 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 asset calculation when it is reasonably certain the Company will exercise that option. Our leases have remaining terms ranging from one month to 48 months, some of which have options to extend the lease for up to 5 years. As of June 30, 2021, 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 three months ended June 30, 2021 was $597, inclusive of $18 in variable lease expense. Total lease expense for the three months ended June 30, 2020 was $535, inclusive of $22 in variable lease expense. The Company also sublets some of its leased office space and recorded $23 and $36 of sublease income for the three months ended June 30, 2021 and 2020, respectively, which is included in other income on the condensed consolidated statement of operations. Total lease expense for the six months ended June 30, 2021 was $1,205, inclusive of $27 in variable lease expense. Total lease expense for the six months ended June 30, 2020 was $1,114, inclusive of $142 in variable lease expense. The Company also sublets some of its leased office space and recorded $41 and $48 of sublease income for the six months ended June 30, 2021 and 2020, respectively, which is included in other income on the condensed consolidated statement of operations. Supplemental balance sheet information, the weighted average remaining lease term and weighted average discount rate related to leases were as follows: June 30, 2021 December 31, 2020 Right of use asset $ 5,378 $ 6,338 Lease liability $ 5,855 $ 6,893 Weighted average remaining lease term 2.82 years 3.26 years Weighted average discount rate 6.36 % 6.37 % Future maturities of lease liabilities as of June 30, 2021 are as follows: Operating Leases 2021 $ 1,208 2022 2,369 2023 1,783 2024 934 2025 94 Total lease payments 6,388 Less: imputed interest (533) Total lease liabilities $ 5,855

Equity

Equity	6 Months Ended
	Jun. 30, 2021
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 estimated 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. 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 June 30, 2021, there were 51,157,004 shares of common stock issued and outstanding. Members' Equity Prior to the IPO of Trean Insurance Group, Inc., the Company had three classes of ownership units, each with its respective rights, preferences and privileges as follows: 1) Class A Units : Received an allocation of profits and losses incurred by the Company as well as maintained 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 : Received an allocation of profits and losses incurred by the Company as well as maintained 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 maintained both voting and non-voting units. Each Class B Voting Unit was entitled to one vote per Class B Voting Unit on each matter to which the members were entitled to vote. Class B Non-Voting Units maintained all rights, preferences and privileges allowed to Class B Voting Units with the exception of voting rights. 3) Class C Units : Received an allocation of profits and losses incurred by the Company. Participating Class C Units maintained 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.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2021
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 IPO and corporate reorganization in the third quarter of 2020, the number of shares used to compute earnings per share for pre-reorganization 2020 periods presented was retrospectively adjusted to reflect the recapitalization akin to a split-like situation. The following table presents the calculation of basic and diluted EPS of common stock: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income — basic and diluted $ 2,126 $ 1,358 $ 11,568 $ 10,793 Weighted average number of shares outstanding — basic 51,152,979 37,386,394 51,150,881 37,386,394 Effect of dilutive securities: Restricted stock units 13,608 — 22,323 — Dilutive shares 13,608 — 22,323 — Weighted average number of shares outstanding — diluted 51,166,587 37,386,394 51,173,204 37,386,394 Earnings per share: Basic $ 0.04 $ 0.04 $ 0.23 $ 0.29 Diluted $ 0.04 $ 0.04 $ 0.23 $ 0.29 For the three months ended June 30, 2021, a total of 53,690 stock options with an exercise price of $17.50 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. For the six months ended June 30, 2021, a total of 53,690 stock options with an exercise price of $17.50 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)	6 Months Ended
	Jun. 30, 2021
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: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Balance at beginning of period $ 6,641 $ 5,611 $ 13,426 $ 6,500 Other comprehensive gain (loss), net of tax: Unrealized investment gain (loss): Unrealized investment gains (losses) arising during the period $ 2,325 $ 9,242 $ (6,251) $ 8,235 Income tax expense (benefit) $ 488 $ 1,938 $ (1,313) $ 1,727 Unrealized investment gain (loss), net of tax $ 1,837 $ 7,304 $ (4,938) $ 6,508 Less: reclassification adjustments to: Net realized investment gains (losses) included in net realized capital gains (losses) $ 10 $ (1) $ 23 $ 118 Income tax expense (benefit) $ 2 $ (1) $ 5 $ 25 Total reclassifications included in net income, net of tax $ 8 $ — $ 18 $ 93 Other comprehensive income (loss) $ 1,829 $ 7,304 $ (4,956) $ 6,415 Balance at end of period $ 8,470 $ 12,915 $ 8,470 $ 12,915

Stock Compensation

Stock Compensation	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock Compensation	Stock Compensation As of June 30, 2021, 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, to strengthen the commitment and motivate such individuals to faithfully and diligently perform their responsibilities and to 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 Compensation, Nominating and Corporate Governance Committee of 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 $34 and $69 for the three and six months ended June 30, 2021, respectively. 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 or a nonqualified stock option. 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 is 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. Fiscal 2021 Expected volatility 29.8% Expected term 6 years Risk-free interest rate 1.32% A summary of the status of the Company's stock option activity as of June 30, 2021 and changes during the six-month period then ended are as follows: Stock Options Weighted Average Exercise Price Balance outstanding, December 31, 2020 89,920 $ 15.00 Granted 60,729 $ 17.50 Forfeited or cancelled (27,646) $ 15.64 Balance outstanding, June 30, 2021 123,003 $ 16.09 Options exercisable, June 30, 2021 — $ — The following table summarizes information regarding stock options outstanding as of June 30, 2021: 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 123,003 $ 16.09 9.22 years $ 91 123,003 $ 16.09 9.22 years $ 91 The weighted average grant-date fair value of options granted in the six months ended June 30, 2021 was $5.49. As of June 30, 2021, total unrecognized compensation cost related to stock options was $472 and is expected to be recognized over a weighted average period of approximately 1.3 years. Restricted Stock Units Compensation expense relating to restricted stock unit grants was $385 and $561 for the three and six months ended June 30, 2021, respectively. As of June 30, 2021, there was $4,088 of total unrecognized compensation cost related to non-vested restricted stock unit grants, which is expected to be recognized over a weighted average life of 2.6 years. The total fair value of restricted stock units vested during the three and six months ended June 30, 2021 was $136. The Company has granted time-based restricted stock units ("RSUs"), performance stock units ("PSUs") and market-based stock units ("MSUs") to certain key employees as part of the Company's long-term incentive program. The estimated fair value of restricted stock units is based on the grant date closing price of the Company's stock for time-based and performance-based vesting awards. A Monte Carlo valuation model is used to estimate the fair value for market-based vesting awards. RSUs generally vest in three equal annual installments beginning one year from the grant date and are amortized as compensation expense over the three-year vesting period. The Company has also granted time-based restricted stock units to non-employee directors as part of the Company's annual director compensation program. Each time-based restricted stock grant to non-employee directors vests on the day immediately preceding the next annual meeting of stockholders following the date of grant. The grants are amortized as director compensation expense over the vesting period. The Company recognizes compensation expense on PSUs ratably over the requisite performance period of the award and to the extent management views the performance goal attainment as probable. The Company recognizes compensation expense on MSUs ratably over the requisite performance period of the award. For the 2021 fiscal year, the Company granted PSUs to certain key employees pursuant to the Company's 2020 Omnibus Plan. The number of shares earned is based on the Company’s achievement of pre-established target threshold goals for total gross written premiums over a three-year performance measurement period. The performance goals allow for a payout ranging from 0% to 200% of the target award. If performance satisfies minimum requirements to result in shares being awarded, the number of shares will be determined between 50% and 200% of target thresholds, as defined in the applicable award agreements. Any earned PSU will vest if the employee’s service has been continuous through the vesting date. Any PSU not earned because of failure to achieve the minimum performance goal at the end of the performance period will be immediately forfeited. The grant date fair value of the PSUs was determined based on the grant date closing price of the Company’s stock. For the 2021 fiscal year, the Company granted MSUs to certain key employees pursuant to the Company's 2020 Omnibus Plan. The number of restricted stock units earned is based on the Company’s cumulative total shareholder return ("TSR"), as defined in the applicable award agreement, over a three-year performance measurement period. If TSR satisfies minimum requirements to result in shares being awarded, the number of shares will be determined between 50% and 200% shown in the table below. Any MSU not earned because of failure to achieve the minimum performance goal at the end of the performance period will be immediately forfeited. Grant date fair values were determined using a Monte Carlo valuation model based on the following assumptions: Fiscal 2021 Total grant date fair value $ 845 Total grant date fair value per share $ 13.92 Expected volatility 35.0 % Weighted average expected life 2.77 years Risk-free interest rate 0.27 % The percent of the target MSU that will be earned based on the Company’s TSR is as follows: Cumulative TSR % Percent of Units Vested Below 25.1% 0% 25.1% 50% 47.2% 100% 69.3% and above 200% A summary of the status of the Company’s non-vested restricted stock unit activity as of June 30, 2021 and changes during the six-month period then ended is as follows: RSUs MSUs PSUs Total Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Non-vested outstanding, December 31, 2020 111,588 $ 14.99 — $ — — $ — 111,588 $ 14.99 Granted 60,729 $ 17.50 60,715 $ 13.92 121,458 $ 17.50 242,902 $ 16.61 Vested (8,541) $ 15.21 — $ — — $ — (8,541) $ 15.21 Forfeited or cancelled (27,646) $ 16.02 (7,039) $ 13.92 (14,078) $ 17.50 (48,763) $ 16.14 Non-vested outstanding, June 30, 2021 136,130 $ 15.89 53,676 $ 13.92 107,380 $ 17.50 297,186 $ 16.11

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Transactions with Related Parties	Transactions with Related Parties The Company recorded $50 and $100 of revenue for consulting services provided to TRI for the three and six months ended June 30, 2021 and 2020, respectively. Effective July 15, 2020, Trean Compstar Holdings LLC purchased the remaining ownership interest in Compstar (See Note 2). 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 $43,917 and $90,199 of gross earned premiums resulting in gross commissions of $7,737 and $17,709 due to Compstar for the three and six months ended June 30, 2020, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Events or transactions that occur after the balance sheet date, but before the condensed consolidated financial statements are complete, are reviewed by the Company to determine if they are to be recognized and/or disclosed as appropriate. On July 6, 2021, Trean Corp acquired 100% ownership in Western Integrated Care, LLC ("WIC") for a base purchase price of $4,000. WIC offers services to workers' compensation insurers to enable employees who are injured on the job to access qualified medical treatment. On August 11, 2021, Trean Corp sold its remaining ownership interest in TRI for $1,888. All of the effects of subsequent events that provide additional evidence about conditions that existed at the condensed consolidated balance sheet date, including the estimates inherent in the process of preparing the condensed consolidated financial statements, are recognized in the condensed consolidated financial statements.

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of estimates	Use of estimates While preparing the condensed 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 condensed 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 recoveries, investments and goodwill and other intangible assets. Except for the captions on the condensed consolidated balance sheets and condensed consolidated statements of comprehensive income, generally, the term loss(es) is used to collectively refer to both loss 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 condensed 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 . The Company adopted items (i) and (ii) effective January 1, 2020 and will adopt item (iii) on January 1, 2023. Adoption of this standard has not had, and is not expected to have, a material impact on the condensed 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 condensed 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 condensed consolidated financial statements.
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.

Business and Basis of Present_3

Business and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The impact of the prior period corrections on the condensed consolidated balance sheet and the related components of stockholders' equity is as follows: March 31, 2021 December 31, 2020 Previously reported Adjustment As reported Previously reported Adjustment As reported Retained earnings $ 119,750 $ (1,248) $ 118,502 $ 112,959 $ (3,899) $ 109,060 Accumulated other comprehensive income 5,393 1,248 6,641 9,527 3,899 13,426 June 30, 2020 March 31, 2020 December 31, 2019 Previously reported Adjustment As reported Previously reported Adjustment As reported Previously reported Adjustment As reported Retained earnings $ 35,561 $ (4,212) $ 31,349 $ 49,967 $ (1,850) $ 48,117 $ 40,361 $ (1,679) $ 38,682 Accumulated other comprehensive income 8,703 4,212 12,915 3,761 1,850 5,611 4,821 1,679 6,500 The impact of the prior period corrections on the condensed consolidated statements of operations and other comprehensive income is as follows: Three Months Ended June 30, 2020 Previously reported Adjustment As reported Net investment income $ 1,524 $ 1,001 $ 2,525 Total revenue 24,429 1,001 25,430 Gains (losses) on embedded derivatives — (3,991) (3,991) Income before taxes 3,469 (2,990) 479 Income tax expense 979 (628) 351 Net income $ 3,720 $ (2,362) $ 1,358 Earnings per share: Basic $ 0.10 $ (0.06) $ 0.04 Diluted $ 0.10 $ (0.06) $ 0.04 Other comprehensive income, net of tax Unrealized investment gains: Unrealized investment gains arising during the period $ 6,252 $ 2,990 $ 9,242 Income tax expense 1,310 628 1,938 Unrealized investment gains, net of tax 4,942 2,362 7,304 Other comprehensive income $ 4,942 $ 2,362 $ 7,304 Six Months Ended June 30, 2020 Previously reported Adjustment As reported Net investment income $ 4,796 $ 1,974 $ 6,770 Total revenue 57,786 1,974 59,760 Gains (losses) on embedded derivatives — (5,180) (5,180) Income before taxes 15,285 (3,206) 12,079 Income tax expense 3,891 (673) 3,218 Net income $ 13,326 $ (2,533) $ 10,793 Earnings per share: Basic $ 0.36 $ (0.07) $ 0.29 Diluted $ 0.36 $ (0.07) $ 0.29 Other comprehensive income, net of tax Unrealized investment gains: Unrealized investment gains arising during the period $ 5,029 $ 3,206 $ 8,235 Income tax expense 1,054 673 1,727 Unrealized investment gains, net of tax 3,975 2,533 6,508 Other comprehensive income $ 3,882 $ 2,533 $ 6,415

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
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. The assessment of fair value and the determination of deferred taxes and other payables and receivables are preliminary and are based on the information that was available at the time the condensed consolidated financial statements were prepared. Accordingly, the allocation of purchase price to intangible assets and to deferred tax assets and liabilities is preliminary and, therefore, subject to adjustment in future periods. 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
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 The Company also recorded 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)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Summary of Fair Value Options	The following tables present the estimated fair value of the Company’s significant financial instruments. June 30, 2021 Level 1 Level 2 Level 3 Total Fixed maturities: U.S. government and government securities $ 28,531 $ 175 $ — $ 28,706 Foreign governments — 2,600 — 2,600 States, territories and possessions — 8,456 — 8,456 Political subdivisions of states territories and possessions — 32,166 — 32,166 Special revenue and special assessment obligations — 93,441 — 93,441 Industrial and public utilities — 105,987 — 105,987 Commercial mortgage-backed securities — 13,129 — 13,129 Residential mortgage-backed securities — 95,652 — 95,652 Other loan-backed securities — 44,444 — 44,444 Hybrid securities — 362 — 362 Total fixed maturities 28,531 396,412 — 424,943 Equity securities: Preferred stock — 235 — 235 Common stock — 741 2,000 2,741 Total equity securities — 976 2,000 2,976 Total investments $ 28,531 $ 397,388 $ 2,000 $ 427,919 Embedded derivatives on funds held under reinsurance agreements $ 111 $ 1,636 $ — $ 1,747 Debt — 31,763 — 31,763 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 Embedded derivatives on funds held under reinsurance agreements $ 176 $ 4,761 $ — $ 4,937 Debt — 32,381 — 32,381

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2021
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: June 30, 2021 Cost or Gross Gross Fair Value Fixed maturities: U.S. government and government securities $ 28,510 $ 217 $ (21) $ 28,706 Foreign governments 2,599 1 — 2,600 States, territories and possessions 8,240 225 (9) 8,456 Political subdivisions of states, territories and possessions 31,120 1,087 (41) 32,166 Special revenue and special assessment obligations 90,047 3,634 (240) 93,441 Industrial and public utilities 101,624 4,450 (87) 105,987 Commercial mortgage-backed securities 12,032 1,097 — 13,129 Residential mortgage-backed securities 95,667 890 (905) 95,652 Other loan-backed securities 43,972 501 (29) 44,444 Hybrid securities 355 7 — 362 Total fixed maturities available for sale 414,166 12,109 (1,332) 424,943 Equity securities: Preferred stock 243 — (8) 235 Common stock 741 2,000 — 2,741 Total equity securities 984 2,000 (8) 2,976 Total investments $ 415,150 $ 14,109 $ (1,340) $ 427,919 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
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: June 30, 2021 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 $ 6,627 $ (21) $ — $ — $ 6,627 $ (21) Foreign governments — — — — — — States, territories and possessions 316 (9) — — 316 (9) Political subdivisions of states, territories and possessions 4,188 (41) — — 4,188 (41) Special revenue and special assessment obligations 17,868 (240) — — 17,868 (240) Industrial and public utilities 15,323 (87) — — 15,323 (87) Commercial mortgage-backed securities — — — — — — Residential mortgage-backed securities 57,307 (877) 737 (28) 58,044 (905) Other loan-backed securities 10,464 (9) 2,480 (20) 12,944 (29) Hybrid securities 250 — — — 250 — Total bonds $ 112,343 $ (1,284) $ 3,217 $ (48) $ 115,560 $ (1,332) 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)
Summary of Investments by Contractual Maturity	The amortized cost and estimated fair value of fixed maturities as of June 30, 2021, by contractual maturity, are as follows: Cost or Amortized Cost Fair Value Available for sale: Due in one year or less $ 30,510 $ 30,870 Due after one year but before five years 103,298 106,728 Due after five years but before ten years 64,393 67,848 Due after ten years 64,294 66,272 Commercial mortgage-backed securities 12,032 13,129 Residential mortgage-backed securities 95,667 95,652 Other loan-backed securities 43,972 44,444 Total $ 414,166 $ 424,943
Sumnary of Realized Gain (Loss) on Investments	Realized gains and losses on investments included in the condensed consolidated statements of operations for the three and six months ended June 30, 2021 and 2020 are as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Fixed maturities: Gains $ 18 $ — $ 98 $ 119 Losses (8) (1) (75) (1) Total fixed maturities 10 (1) 23 118 Equity securities: Equity method investments: Gains — — — 3,115 Total equity securities — — — 3,115 Total net investment realized gains (losses) $ 10 $ (1) $ 23 $ 3,233
Summary of Net Investment Income	Net investment income consists of the following for the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Fixed maturities $ 1,577 $ 1,408 $ 3,137 $ 2,880 Income on funds held investments 519 1,001 1,199 1,974 Preferred stock 6 34 36 20 Common stock — 75 — 1,874 Interest earned on cash and short-term investments 1 7 3 22 Net investment income $ 2,103 $ 2,525 $ 4,375 $ 6,770
Schedule of Funds Held Under Reinsurance Agreements	Total funds held under reinsurance agreements includes the following: June 30, 2021 December 31, 2020 Funds held under reinsurance agreements, at cost $ 159,266 $ 169,767 Embedded derivatives, at fair value 1,747 4,937 Total funds held under reinsurance agreements $ 161,013 $ 174,704

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following: June 30, 2021 December 31, 2020 Secured credit facility $ 31,763 $ 32,381 Less: unamortized deferred financing costs (660) (744) Net debt $ 31,103 $ 31,637

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2021
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 condensed consolidated statements of operations. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Brokerage $ 770 $ 755 $ 4,225 $ 4,448 Managing general agent fees 30 254 319 408 Third-party administrator fees 376 383 754 767 Consulting and other fee-based revenue 53 138 586 299 Total revenue from contracts with customers $ 1,229 $ 1,530 $ 5,884 $ 5,922
Schedule of Contract with Customer, Contract Assets	The following table provides information related to the contract assets from contracts with customers. Contract assets are included within other assets on the condensed consolidated balance sheets. June 30, 2021 December 31, 2020 Contract assets $ 4,623 $ 3,405

Liability for Unpaid Losses a_2

Liability for Unpaid Losses and Loss Adjustment Expense (Tables)	6 Months Ended
	Jun. 30, 2021
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. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Unpaid losses and LAE reserves at beginning of period $ 485,532 $ 418,757 $ 457,817 $ 406,716 Less losses ceded through reinsurance (353,158) (312,105) (335,655) (304,005) Net unpaid losses and LAE at beginning of period 132,374 106,652 122,162 102,711 Incurred losses and LAE related to: Current period 30,178 13,020 55,085 27,189 Prior period (453) (837) (479) (2,072) Total incurred losses and LAE 29,725 12,183 54,606 25,117 Paid losses and LAE, net of reinsurance, related to: Current period 8,950 3,392 12,473 4,590 Prior period 9,190 5,708 20,336 13,503 Total paid losses and LAE 18,140 9,100 32,809 18,093 Net unpaid losses and LAE at end of period 143,959 109,735 143,959 109,735 Plus losses ceded through reinsurance 358,601 332,765 358,601 332,765 Unpaid losses and LAE reserves at end of period $ 502,560 $ 442,500 $ 502,560 $ 442,500

Reinsurance (Tables)

Reinsurance (Tables)	6 Months Ended
	Jun. 30, 2021
Reinsurance Disclosures [Abstract]
Summary of Effects of Reinsurance	A summary of the impact of ceded reinsurance on premiums written and premiums earned is as follows: Three Months Ended June 30, 2021 2020 Gross Assumed Ceded Net Gross Assumed Ceded Net Written premiums $ 153,049 $ 3,502 $ (101,306) $ 55,245 $ 107,596 $ 2,016 $ (86,586) $ 23,026 Earned premiums 136,362 2,262 (90,681) 47,943 98,337 2,010 (78,968) 21,379 Six Months Ended June 30, 2021 2020 Gross Assumed Ceded Net Gross Assumed Ceded Net Written premiums $ 297,947 $ 5,334 $ (190,790) $ 112,491 $ 213,573 $ 3,898 $ (168,218) $ 49,253 Earned premiums 262,766 4,157 (177,846) 89,077 196,880 3,953 (156,995) 43,838

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
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: June 30, 2021 December 31, 2020 Right of use asset $ 5,378 $ 6,338 Lease liability $ 5,855 $ 6,893 Weighted average remaining lease term 2.82 years 3.26 years Weighted average discount rate 6.36 % 6.37 %
Schedule of Future Maturities of Lease Liabilities	Future maturities of lease liabilities as of June 30, 2021 are as follows: Operating Leases 2021 $ 1,208 2022 2,369 2023 1,783 2024 934 2025 94 Total lease payments 6,388 Less: imputed interest (533) Total lease liabilities $ 5,855

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
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: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income — basic and diluted $ 2,126 $ 1,358 $ 11,568 $ 10,793 Weighted average number of shares outstanding — basic 51,152,979 37,386,394 51,150,881 37,386,394 Effect of dilutive securities: Restricted stock units 13,608 — 22,323 — Dilutive shares 13,608 — 22,323 — Weighted average number of shares outstanding — diluted 51,166,587 37,386,394 51,173,204 37,386,394 Earnings per share: Basic $ 0.04 $ 0.04 $ 0.23 $ 0.29 Diluted $ 0.04 $ 0.04 $ 0.23 $ 0.29

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2021
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: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Balance at beginning of period $ 6,641 $ 5,611 $ 13,426 $ 6,500 Other comprehensive gain (loss), net of tax: Unrealized investment gain (loss): Unrealized investment gains (losses) arising during the period $ 2,325 $ 9,242 $ (6,251) $ 8,235 Income tax expense (benefit) $ 488 $ 1,938 $ (1,313) $ 1,727 Unrealized investment gain (loss), net of tax $ 1,837 $ 7,304 $ (4,938) $ 6,508 Less: reclassification adjustments to: Net realized investment gains (losses) included in net realized capital gains (losses) $ 10 $ (1) $ 23 $ 118 Income tax expense (benefit) $ 2 $ (1) $ 5 $ 25 Total reclassifications included in net income, net of tax $ 8 $ — $ 18 $ 93 Other comprehensive income (loss) $ 1,829 $ 7,304 $ (4,956) $ 6,415 Balance at end of period $ 8,470 $ 12,915 $ 8,470 $ 12,915

Stock Compensation (Tables)

Stock Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	Fiscal 2021 Expected volatility 29.8% Expected term 6 years Risk-free interest rate 1.32%
Summary of Stock Option Activity	A summary of the status of the Company's stock option activity as of June 30, 2021 and changes during the six-month period then ended are as follows: Stock Options Weighted Average Exercise Price Balance outstanding, December 31, 2020 89,920 $ 15.00 Granted 60,729 $ 17.50 Forfeited or cancelled (27,646) $ 15.64 Balance outstanding, June 30, 2021 123,003 $ 16.09 Options exercisable, June 30, 2021 — $ —
Summary of Options, Vested and Expected to Vest, Outstanding	The following table summarizes information regarding stock options outstanding as of June 30, 2021: 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 123,003 $ 16.09 9.22 years $ 91 123,003 $ 16.09 9.22 years $ 91
Schedule of Share-based Payment Award, Restricted Stock Units, Valuation Assumptions	Grant date fair values were determined using a Monte Carlo valuation model based on the following assumptions: Fiscal 2021 Total grant date fair value $ 845 Total grant date fair value per share $ 13.92 Expected volatility 35.0 % Weighted average expected life 2.77 years Risk-free interest rate 0.27 %
Summary of Share-based Payment Award, Total Shareholder Return	The percent of the target MSU that will be earned based on the Company’s TSR is as follows: Cumulative TSR % Percent of Units Vested Below 25.1% 0% 25.1% 50% 47.2% 100% 69.3% and above 200%
Summary of Nonvested Restricted Stock Unit Activity	A summary of the status of the Company’s non-vested restricted stock unit activity as of June 30, 2021 and changes during the six-month period then ended is as follows: RSUs MSUs PSUs Total Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Non-vested outstanding, December 31, 2020 111,588 $ 14.99 — $ — — $ — 111,588 $ 14.99 Granted 60,729 $ 17.50 60,715 $ 13.92 121,458 $ 17.50 242,902 $ 16.61 Vested (8,541) $ 15.21 — $ — — $ — (8,541) $ 15.21 Forfeited or cancelled (27,646) $ 16.02 (7,039) $ 13.92 (14,078) $ 17.50 (48,763) $ 16.14 Non-vested outstanding, June 30, 2021 136,130 $ 15.89 53,676 $ 13.92 107,380 $ 17.50 297,186 $ 16.11

Business and Basis of Present_4

Business and Basis of Presentation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 120,628	$ 31,349	$ 120,628	$ 31,349	$ 118,502	$ 109,060	$ 48,117	$ 38,682
Accumulated other comprehensive income	8,470	12,915	8,470	12,915	6,641	13,426	5,611	6,500
Net investment income	2,103	2,525	4,375	6,770
Total revenue	51,285	25,430	99,359	59,760
Gains (losses) on embedded derivatives	(686)	(3,991)	1,990	(5,180)
Income before taxes	2,540	479	14,587	12,079
Income tax expense	414	351	3,019	3,218
Net income	$ 2,126	$ 1,358	$ 11,568	$ 10,793
Basic (in dollars per share)	$ 0.04	$ 0.04	$ 0.23	$ 0.29
Diluted (in dollars per share)	$ 0.04	$ 0.04	$ 0.23	$ 0.29
Unrealized investment gains (losses) arising during the period	$ 2,325	$ 9,242	$ (6,251)	$ 8,235
Income tax expense	488	1,938	(1,313)	1,727
Unrealized investment gains, net of tax	1,837	7,304	(4,938)	6,508
Other comprehensive income (loss)	$ 1,829	7,304	$ (4,956)	6,415
Previously reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		35,561		35,561	119,750	112,959	49,967	40,361
Accumulated other comprehensive income		8,703		8,703	5,393	9,527	3,761	4,821
Net investment income		1,524		4,796
Total revenue		24,429		57,786
Gains (losses) on embedded derivatives		0		0
Income before taxes		3,469		15,285
Income tax expense		979		3,891
Net income		$ 3,720		$ 13,326
Basic (in dollars per share)		$ 0.10		$ 0.36
Diluted (in dollars per share)		$ 0.10		$ 0.36
Unrealized investment gains (losses) arising during the period		$ 6,252		$ 5,029
Income tax expense		1,310		1,054
Unrealized investment gains, net of tax		4,942		3,975
Other comprehensive income (loss)		4,942		3,882
Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		(4,212)		(4,212)	(1,248)	(3,899)	(1,850)	(1,679)
Accumulated other comprehensive income		4,212		4,212	$ 1,248	$ 3,899	$ 1,850	$ 1,679
Net investment income		1,001		1,974
Total revenue		1,001		1,974
Gains (losses) on embedded derivatives		(3,991)		(5,180)
Income before taxes		(2,990)		(3,206)
Income tax expense		(628)		(673)
Net income		$ (2,362)		$ (2,533)
Basic (in dollars per share)		$ (0.06)		$ (0.07)
Diluted (in dollars per share)		$ (0.06)		$ (0.07)
Unrealized investment gains (losses) arising during the period		$ 2,990		$ 3,206
Income tax expense		628		673
Unrealized investment gains, net of tax		2,362		2,533
Other comprehensive income (loss)		$ 2,362		$ 2,533

Business and Basis of Present_5

Business and Basis of Presentation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Funds held under reinsurance agreements	$ 161,013		$ 161,013		$ 174,704
Embedded derivatives, at fair value	1,747		1,747		4,937
Net investment income	$ 2,103	$ 2,525	$ 4,375	$ 6,770
Effective income tax rate, percent	16.30%	73.30%	20.70%	26.60%
Previously reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Funds held under reinsurance agreements					$ 174,704
Net investment income		$ 1,524		$ 4,796
Effective income tax rate, percent		28.20%		25.50%
Income on funds held investments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net investment income	$ 519	$ 1,001	$ 1,199	$ 1,974

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 01, 2020	Jul. 15, 2020	Apr. 01, 2020	Jun. 30, 2021	Dec. 31, 2020	Jul. 14, 2020
Business Acquisition [Line Items]
Goodwill				$ 140,640	$ 140,640
Intangible assets				72,489	75,316
Equity method investments				$ 0	$ 232
7710 Insurance Company
Business Acquisition [Line Items]
Percentage of voting interests acquired	100.00%
Consideration transferred	$ 12,140
Goodwill	2,873
Intangible assets	$ 3,299
Compstar Holding Company LLC
Business Acquisition [Line Items]
Percentage of voting interests acquired		55.00%
Consideration transferred		$ 99,204
Goodwill		134,428
Intangible assets		73,954
Ownership percentage						45.00%
Fair value amount of equity method investment		81,167
Equity method investments		11,321
Gain (loss) on equity method investments		$ 69,846
Compstar Holding Company LLC | Common stock
Business Acquisition [Line Items]
Stock issued during period (in shares)		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

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	Jun. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill				$ 140,640	$ 140,640
7710 Insurance Company
Business Acquisition [Line Items]
Fair value of total consideration transferred	$ 12,140
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
Compstar Holding Company LLC
Business Acquisition [Line Items]
Fair value of total consideration transferred		$ 99,204
Previous investment in subsidiary		11,321
Fair value adjustment to prior investment		69,846
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		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
LCTA Risk Services, Inc.
Business Acquisition [Line Items]
Fair value of total consideration transferred			$ 1,400
Cash and cash equivalents			302
Premiums and other receivables			55
Property and equipment			63
Goodwill			517
Intangible assets			482
Other assets			12
Accounts payable			(17)
Income taxes payable			(14)
Net assets acquired			$ 1,400

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	Jun. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Finite-lived intangible assets, net			$ 72,489	$ 75,316
7710 Insurance Company
Business Acquisition [Line Items]
Finite-lived intangible assets, net	$ 3,299
7710 Insurance Company | Trade name
Business Acquisition [Line Items]
Useful Life	15 years
Finite-lived intangible assets, net	$ 458
7710 Insurance Company | Customer relationships
Business Acquisition [Line Items]
Useful Life	10 years
Finite-lived intangible assets, net	$ 2,841
Compstar Holding Company LLC
Business Acquisition [Line Items]
Finite-lived intangible assets, net		$ 73,954
Compstar Holding Company LLC | Trade name
Business Acquisition [Line Items]
Useful Life		15 years
Finite-lived intangible assets, net		$ 3,157
Compstar Holding Company LLC | Customer relationships
Business Acquisition [Line Items]
Useful Life		14 years
Finite-lived intangible assets, net		$ 70,797

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	$ 424,943	$ 405,604
Equity securities:	2,976	3,774
Total investments	427,919	409,610
Embedded derivatives on funds held under reinsurance agreements	1,747	4,937
Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	31,763	32,381
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	28,531	17,471
Equity securities:	0	958
Embedded derivatives on funds held under reinsurance agreements	111	176
Level 1 | Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	396,412	388,133
Equity securities:	976	816
Embedded derivatives on funds held under reinsurance agreements	1,636	4,761
Level 2 | Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	31,763	32,381
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Equity securities:	2,000	2,000
Embedded derivatives on funds held under reinsurance agreements	0	0
Level 3 | Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	0	0
Total investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	427,919	409,378
Total investments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	28,531	18,429
Total investments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	397,388	388,949
Total investments | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	2,000	2,000
U.S. government and government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	28,706	17,471
U.S. government and government securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	28,531	17,471
U.S. government and government securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	175	0
U.S. government and government securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	2,600	302
Foreign governments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Foreign governments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	2,600	302
Foreign governments | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
States, territories and possessions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	8,456	7,774
States, territories and possessions | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
States, territories and possessions | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	8,456	7,774
States, territories and possessions | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Political subdivisions of states territories and possessions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	32,166	33,212
Political subdivisions of states territories and possessions | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Political subdivisions of states territories and possessions | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	32,166	33,212
Political subdivisions of states territories and possessions | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Special revenue and special assessment obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	93,441	81,714
Special revenue and special assessment obligations | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Special revenue and special assessment obligations | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	93,441	81,714
Special revenue and special assessment obligations | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Industrial and public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	105,987	113,741
Industrial and public utilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Industrial and public utilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	105,987	113,741
Industrial and public utilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	13,129	18,066
Commercial mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Commercial mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	13,129	18,066
Commercial mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	95,652	93,017
Residential mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Residential mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	95,652	93,017
Residential mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Other loan-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	44,444	39,945
Other loan-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Other loan-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	44,444	39,945
Other loan-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Hybrid securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	362	362
Hybrid securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Hybrid securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	362	362
Hybrid securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities:	0	0
Preferred stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	235	240
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:	235	240
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:	2,741	3,534
Common stock | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	0	958
Common stock | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	741	576
Common stock | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities:	$ 2,000	$ 2,000

Investments - Schedule of Debt

Investments - Schedule of Debt Securities, Available-for-sale (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Fixed maturities:
Cost or Amortized Cost	$ 414,166	$ 388,409
Gross Unrealized Gains	12,109	17,454
Gross Unrealized Losses	(1,332)	(259)
Fair Value	424,943	405,604
Equity securities:
Cost or Amortized Cost	984	1,797
Gross Unrealized Gains	2,000	2,053
Gross Unrealized Losses	(8)	(76)
Fair Value	2,976	3,774
Cost or Amortized Cost	415,150	390,206
Gross Unrealized Gains	14,109	19,507
Gross Unrealized Losses	(1,340)	(335)
Fair Value	427,919	409,378
U.S. government and government securities
Fixed maturities:
Cost or Amortized Cost	28,510	17,135
Gross Unrealized Gains	217	336
Gross Unrealized Losses	(21)	0
Fair Value	28,706	17,471
Foreign governments
Fixed maturities:
Cost or Amortized Cost	2,599	300
Gross Unrealized Gains	1	2
Gross Unrealized Losses	0	0
Fair Value	2,600	302
States, territories and possessions
Fixed maturities:
Cost or Amortized Cost	8,240	7,500
Gross Unrealized Gains	225	274
Gross Unrealized Losses	(9)	0
Fair Value	8,456	7,774
Political subdivisions of states, territories and possessions
Fixed maturities:
Cost or Amortized Cost	31,120	31,759
Gross Unrealized Gains	1,087	1,453
Gross Unrealized Losses	(41)	0
Fair Value	32,166	33,212
Special revenue and special assessment obligations
Fixed maturities:
Cost or Amortized Cost	90,047	77,329
Gross Unrealized Gains	3,634	4,422
Gross Unrealized Losses	(240)	(37)
Fair Value	93,441	81,714
Industrial and public utilities
Fixed maturities:
Cost or Amortized Cost	101,624	107,017
Gross Unrealized Gains	4,450	6,768
Gross Unrealized Losses	(87)	(44)
Fair Value	105,987	113,741
Commercial mortgage-backed securities
Fixed maturities:
Cost or Amortized Cost	12,032	16,242
Gross Unrealized Gains	1,097	1,848
Gross Unrealized Losses	0	(24)
Fair Value	13,129	18,066
Residential mortgage-backed securities
Fixed maturities:
Cost or Amortized Cost	95,667	91,478
Gross Unrealized Gains	890	1,626
Gross Unrealized Losses	(905)	(87)
Fair Value	95,652	93,017
Other loan-backed securities
Fixed maturities:
Cost or Amortized Cost	43,972	39,293
Gross Unrealized Gains	501	719
Gross Unrealized Losses	(29)	(67)
Fair Value	44,444	39,945
Hybrid securities
Fixed maturities:
Cost or Amortized Cost	355	356
Gross Unrealized Gains	7	6
Gross Unrealized Losses	0	0
Fair Value	362	362
Preferred stock
Equity securities:
Cost or Amortized Cost	243	243
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(8)	(3)
Fair Value	235	240
Common stock
Equity securities:
Cost or Amortized Cost	741	1,554
Gross Unrealized Gains	2,000	2,053
Gross Unrealized Losses	0	(73)
Fair Value	$ 2,741	$ 3,534

Investments - Schedule of Conti

Investments - Schedule of Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	$ 112,343	$ 21,644
Unrealized Loss, less than 12 months	(1,284)	(189)
Fair Value, 12 months or more	3,217	9,298
Unrealized Loss, 12 months or more	(48)	(70)
Fair Value	115,560	30,942
Unrealized Loss	(1,332)	(259)
U.S. government and government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	6,627	4,518
Unrealized Loss, less than 12 months	(21)	0
Fair Value, 12 months or more	0	0
Unrealized Loss, 12 months or more	0	0
Fair Value	6,627	4,518
Unrealized Loss	(21)	0
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	316	0
Unrealized Loss, less than 12 months	(9)	0
Fair Value, 12 months or more	0	0
Unrealized Loss, 12 months or more	0	0
Fair Value	316	0
Unrealized Loss	(9)	0
Political subdivisions of states, territories and possessions
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	4,188	0
Unrealized Loss, less than 12 months	(41)	0
Fair Value, 12 months or more	0	0
Unrealized Loss, 12 months or more	0	0
Fair Value	4,188	0
Unrealized Loss	(41)	0
Special revenue and special assessment obligations
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	17,868	2,923
Unrealized Loss, less than 12 months	(240)	(37)
Fair Value, 12 months or more	0	0
Unrealized Loss, 12 months or more	0	0
Fair Value	17,868	2,923
Unrealized Loss	(240)	(37)
Industrial and public utilities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	15,323	2,106
Unrealized Loss, less than 12 months	(87)	(44)
Fair Value, 12 months or more	0	0
Unrealized Loss, 12 months or more	0	0
Fair Value	15,323	2,106
Unrealized Loss	(87)	(44)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	0	999
Unrealized Loss, less than 12 months	0	(24)
Fair Value, 12 months or more	0	0
Unrealized Loss, 12 months or more	0	0
Fair Value	0	999
Unrealized Loss	0	(24)
Residential mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	57,307	8,811
Unrealized Loss, less than 12 months	(877)	(74)
Fair Value, 12 months or more	737	262
Unrealized Loss, 12 months or more	(28)	(13)
Fair Value	58,044	9,073
Unrealized Loss	(905)	(87)
Other loan-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	10,464	2,037
Unrealized Loss, less than 12 months	(9)	(10)
Fair Value, 12 months or more	2,480	9,036
Unrealized Loss, 12 months or more	(20)	(57)
Fair Value	12,944	11,073
Unrealized Loss	(29)	(67)
Hybrid securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Value, less than 12 months	250	250
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	250
Unrealized Loss	$ 0	$ 0

Investments - Summary of Invest

Investments - Summary of Investments by Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Cost or Amortized Cost
Due in one year or less	$ 30,510
Due after one year but before five years	103,298
Due after five years but before ten years	64,393
Due after ten years	64,294
Cost or Amortized Cost	414,166	$ 388,409
Fair Value
Due in one year or less	30,870
Due after one year but before five years	106,728
Due after five years but before ten years	67,848
Due after ten years	66,272
Fair Value	424,943	405,604
Commercial mortgage-backed securities
Cost or Amortized Cost
Cost or Amortized Cost	12,032	16,242
Fair Value
Fair Value	13,129	18,066
Residential mortgage-backed securities
Cost or Amortized Cost
Cost or Amortized Cost	95,667	91,478
Fair Value
Fair Value	95,652	93,017
Other loan-backed securities
Cost or Amortized Cost
Cost or Amortized Cost	43,972	39,293
Fair Value
Fair Value	$ 44,444	$ 39,945

Investments - Summary of Realiz

Investments - Summary of Realized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fixed maturities:
Gains	$ 18	$ 0	$ 98	$ 119
Losses	(8)	(1)	(75)	(1)
Total fixed maturities	10	(1)	23	118
Equity securities:
Gains	0	0	0	3,115
Total equity securities	0	0	0	3,115
Total net investment realized gains (losses)	$ 10	$ (1)	$ 23	$ 3,233

Investments - Summary of Net In

Investments - Summary of Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net Investment Income [Line Items]
Net investment income	$ 2,103	$ 2,525	$ 4,375	$ 6,770
Fixed maturities
Net Investment Income [Line Items]
Net investment income	1,577	1,408	3,137	2,880
Income on funds held investments
Net Investment Income [Line Items]
Net investment income	519	1,001	1,199	1,974
Preferred stock
Net Investment Income [Line Items]
Net investment income	6	34	36	20
Common stock
Net Investment Income [Line Items]
Net investment income	0	75	0	1,874
Interest earned on cash and short-term investments
Net Investment Income [Line Items]
Net investment income	$ 1	$ 7	$ 3	$ 22

Investments - Schedule of Funds

Investments - Schedule of Funds Held Under Reinsurance Agreements (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Funds held under reinsurance agreements, at cost	$ 159,266	$ 169,767
Embedded derivatives, at fair value	1,747	4,937
Total funds held under reinsurance agreements	$ 161,013	$ 174,704

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net Investment Income [Line Items]
Unrealized gains (losses) on embedded derivatives	$ (167)	$ (2,990)	$ 3,189	$ (3,206)
Embedded Derivative Financial Instruments
Net Investment Income [Line Items]
Investment expense	$ 519	$ 1,001	$ 1,199	$ 1,974

Equity Method Investments (Deta

Equity Method Investments (Details) - USD ($) $ in Thousands	Jan. 03, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jul. 15, 2020	Jul. 14, 2020	Jan. 02, 2020
Schedule of Equity Method Investments [Line Items]
Income from equity method investments		$ 0	$ 1,230	$ 0	$ 1,932
Distributions from equity method investments				0	2,413
Proceeds from sale of equity method investments				232	3,000
Unrealized gain on sale of equity method investment		$ 2,103	2,525	$ 4,375	6,770
Compstar Holding Company LLC
Schedule of Equity Method Investments [Line Items]
Percentage of voting interests acquired						55.00%
Ownership percentage							45.00%
Compstar Holding Company LLC
Schedule of Equity Method Investments [Line Items]
Income from equity method investments			1,230		1,932
Distributions from equity method investments			$ 1,024		2,302
Ownership percentage							45.00%
Trean Intermediaries
Schedule of Equity Method Investments [Line Items]
Distributions from equity method investments					225
Ownership percentage sold	15.00%
Ownership percentage								25.00%
Proceeds from sale of equity method investments	$ 3,000
Cumulative percentage ownership after all transactions	10.00%			4.00%
Realized gain (loss) on sale	$ 3,115
Unrealized gain on sale of equity method investment					$ 2,000

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Less: unamortized deferred financing costs	$ (660)	$ (744)
Net debt	31,103	31,637
Secured credit facility
Debt Instrument [Line Items]
Secured credit facility	$ 31,763	$ 32,381

Debt - Narrative (Details)

Debt - Narrative (Details) - Secured credit facility - USD ($)	Jun. 30, 2021	Dec. 31, 2020	May 26, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Apr. 03, 2018
Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 27,500,000
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
Amended and Restated Credit Agreement | Minimum
Debt Instrument [Line Items]
Quarterly installment payments						$ 206,000
Amended and Restated Credit Agreement | Maximum
Debt Instrument [Line Items]
Quarterly installment payments						825,000
Amended and Restated Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	4.71%	4.72%	4.50%
Debt
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 3,000,000
Debt interest expense				$ 383,000	$ 388,000	$ 768,000	$ 722,000

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenues	$ 1,229	$ 1,530	$ 5,884	$ 5,922

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 1,229	$ 1,530	$ 5,884	$ 5,922
Brokerage
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	770	755	4,225	4,448
Managing general agent fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	30	254	319	408
Third-party administrator fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	376	383	754	767
Consulting and other fee-based revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 53	$ 138	$ 586	$ 299

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Schedule of Contract with Customer, Contract Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 4,623	$ 3,405

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	16.30%	73.30%	20.70%	26.60%

Liability for Unpaid Losses a_3

Liability for Unpaid Losses and Loss Adjustment Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Unpaid losses and LAE reserves at beginning of period	$ 485,532	$ 418,757	$ 457,817	$ 406,716
Less losses ceded through reinsurance	(353,158)	(312,105)	(335,655)	(304,005)
Net unpaid losses and LAE at beginning of period	143,959	109,735	143,959	109,735	$ 132,374	$ 122,162	$ 106,652	$ 102,711
Incurred losses and LAE related to:
Current period	30,178	13,020	55,085	27,189
Prior period	(453)	(837)	(479)	(2,072)
Total incurred losses and LAE	29,725	12,183	54,606	25,117
Paid losses and LAE, net of reinsurance, related to:
Current period	8,950	3,392	12,473	4,590
Prior period	9,190	5,708	20,336	13,503
Total paid losses and LAE	18,140	9,100	32,809	18,093
Net unpaid losses and LAE at end of period	143,959	109,735	143,959	109,735
Plus losses ceded through reinsurance	358,601	332,765	358,601	332,765	$ 353,158	$ 335,655	$ 312,105	$ 304,005
Unpaid losses and LAE reserves at end of period	$ 502,560	$ 442,500	$ 502,560	$ 442,500

Liability for Unpaid Losses a_4

Liability for Unpaid Losses and Loss Adjustment Expense - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Insurance [Abstract]
Prior year claims and claims adjustment expense	$ (453)	$ (837)	$ (479)	$ (2,072)

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Written premiums
Gross	$ 153,049	$ 107,596	$ 297,947	$ 213,573
Assumed	3,502	2,016	5,334	3,898
Ceded	(101,306)	(86,586)	(190,790)	(168,218)
Net	55,245	23,026	112,491	49,253
Earned premiums
Gross	136,362	98,337	262,766	196,880
Assumed	2,262	2,010	4,157	3,953
Ceded	(90,681)	(78,968)	(177,846)	(156,995)
Net earned premiums	$ 47,943	$ 21,379	$ 89,077	$ 43,838

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Renewal term	5 years		5 years
Lease expense	$ 597	$ 535	$ 1,205	$ 1,114
Variable lease expense	18	22	27	142
Sublease income	$ 23	$ 36	$ 41	$ 48
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 month		1 month
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	48 months		48 months

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Right of use asset	$ 5,378	$ 6,338
Lease liability	$ 5,855	$ 6,893
Weighted average remaining lease term	2 years 9 months 25 days	3 years 3 months 3 days
Weighted average discount rate	6.36%	6.37%

Leases - Schedule of Future Mat

Leases - Schedule of Future Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
2021	$ 1,208
2022	2,369
2023	1,783
2024	934
2025	94
Total lease payments	6,388
Less: imputed interest	(533)
Total lease liabilities	$ 5,855	$ 6,893

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 22, 2020	Jul. 20, 2020	Jul. 15, 2020	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Proceeds from Issuance Initial Public Offering		$ 93,139
Payments for underwriting discounts and commissions		7,500
Payments of offering expenses		$ 6,503
Common stock, authorized (in shares)				600,000,000		600,000,000
Common stock, par value (in dollars per share)				$ 0.01		$ 0.01
Common stock, issued (in shares)				51,157,004		51,148,782
Common stock, outstanding (in shares)				51,157,004		51,148,782
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)				51,157,004	51,148,782	51,148,782	0	0	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

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income	$ 2,126	$ 1,358	$ 11,568	$ 10,793
Weighted average number of shares outstanding — basic
Weighted average number of shares outstanding - basic (in shares)	51,152,979	37,386,394	51,150,881	37,386,394
Effect of dilutive securities:
Dilutive securities (in shares)	13,608	0	22,323	0
Weighted average number of shares outstanding — diluted
Weighted average number of shares outstanding - diluted (in shares)	51,166,587	37,386,394	51,173,204	37,386,394
Earnings per share:
Basic (in dollars per share)	$ 0.04	$ 0.04	$ 0.23	$ 0.29
Diluted (in dollars per share)	$ 0.04	$ 0.04	$ 0.23	$ 0.29
Antidilutive securities excluded from computation of earnings per share	53,690		53,690
Antidilutive securities excluded from computation of earnings per share, exercise price (in dollars per share)	$ 17.50		$ 17.50
Restricted stock units (RSUs) (in shares)
Effect of dilutive securities:
Dilutive securities (in shares)	13,608	0	22,323	0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Shareholders' equity beginning balance	$ 412,975		$ 410,107
Less: reclassification adjustments to:
Other comprehensive income (loss)	1,829	$ 7,304	(4,956)	$ 6,415
Shareholders' equity ending balance	417,343		417,343
Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Shareholders' equity beginning balance	6,641	5,611	13,426	6,500
Less: reclassification adjustments to:
Other comprehensive income (loss)	1,829	7,304	(4,956)	6,415
Shareholders' equity ending balance	8,470	12,915	8,470	12,915
Unrealized investment gain (loss)
Unrealized investment gain (loss):
Unrealized investment gains (losses) arising during the period	2,325	9,242	(6,251)	8,235
Income tax expense (benefit)	488	1,938	(1,313)	1,727
Unrealized investment gain (loss), net of tax	1,837	7,304	(4,938)	6,508
Less: reclassification adjustments to:
Net realized investment gains (losses) included in net realized capital gains (losses)	10	(1)	23	118
Income tax expense (benefit)	2	(1)	5	25
Total reclassifications included in net income, net of tax	8	0	18	93
Other comprehensive income (loss)	$ 1,829	$ 7,304	$ (4,956)	$ 6,415

Stock Compensation - Narrative

Stock Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 419	$ 630	$ 0
Cost not yet recognized, weighted average period for recognition	9 years 2 months 19 days
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		$ 34	$ 69
Weighted average grant-date fair value of options granted (in dollars per share)			$ 5.49
Unrecognized compensation cost related to stock options	$ 472	472	$ 472
Cost not yet recognized, weighted average period for recognition			1 year 3 months 18 days
Stock Options | Share-based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			3 years
Contractual term from date of grant (in years)			10 years
Percent of Units Vested			33.00%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		385	$ 561
Vesting period (in years)			3 years
Cost not yet recognized, weighted average period for recognition			2 years 7 months 6 days
Non-vested non-option stock-based compensation expense	$ 4,088	4,088	$ 4,088
Fair value of restricted stock units vested		$ 136	$ 136
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			3 years
Performance Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout rate (percentage)	0.00%	0.00%	0.00%
Performance Stock Units | Minimum | 25.1%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout rate (percentage)	50.00%	50.00%	50.00%
Performance Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout rate (percentage)	200.00%	200.00%	200.00%
Performance Stock Units | Maximum | 69.3% and above
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout rate (percentage)	200.00%	200.00%	200.00%
Market-Based Stock Units (MSUs) | 25.1%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of Units Vested			50.00%
Market-Based Stock Units (MSUs) | 69.3% and above
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of Units Vested			200.00%

Stock Compensation - Schedule o

Stock Compensation - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Expected volatility	29.80%
Expected term	6 years
Risk-free interest rate	1.32%

Stock Compensation - Summary of

Stock Compensation - Summary of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Stock Options
Options outstanding, beginning balance (in shares) | shares	89,920
Granted (in shares) | shares	60,729
Forfeited or cancelled (in shares) | shares	(27,646)
Options outstanding, ending balance (in shares) | shares	123,003
Options exercisable (in shares) | shares	0
Weighted Average Exercise Price
Options outstanding, weighted average exercise price, beginning balance (in dollars per share) | $ / shares	$ 15
Grants in period, weighted average exercise price (in dollars per share) | $ / shares	17.50
Forfeited or cancelled in period, weighted average exercise price (in dollars per share) | $ / shares	15.64
Options outstanding, weighted average exercise price, ending balance (in dollars per share) | $ / shares	16.09
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	Jun. 30, 2021	Dec. 31, 2020
Options Outstanding
Number of Shares	123,003	89,920
Weighted Average Exercise Price (in dollars per share)	$ 16.09	$ 15
Weighted Average Remaining Contract Term	9 years 2 months 19 days
Aggregate Intrinsic Value	$ 91
Options Vested or Expected to Vest
Number of Shares	123,003
Weighted Average Exercise Price (in dollars per share)	$ 16.09
Weighted Average Remaining Contract Term	9 years 2 months 19 days
Aggregate Intrinsic Value	$ 91

Stock Compensation - Schedule_2

Stock Compensation - Schedule of Share-based Payment Award, Restricted Stock Units, Valuation Assumptions (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	29.80%
Weighted average expected life	6 years
Risk-free interest rate	1.32%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total grant date fair value | $	$ 845
Total grant date fair value per share (in dollars per share) | $ / shares	$ 13.92
Expected volatility	35.00%
Weighted average expected life	2 years 9 months 7 days
Risk-free interest rate	0.27%

Stock Compensation - Summary _3

Stock Compensation - Summary of Share-based Payment Award, Total Shareholder Return (Details) - Market-Based Stock Units (MSUs)	6 Months Ended
	Jun. 30, 2021
Below 25.1%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative TSR %	25.10%
Percent of Units Vested	0.00%
25.1%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative TSR %	25.10%
Percent of Units Vested	50.00%
47.2%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative TSR %	47.20%
Percent of Units Vested	100.00%
69.3% and above
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative TSR %	69.30%
Percent of Units Vested	200.00%

Stock Compensation - Summary _4

Stock Compensation - Summary of Nonvested Restricted Stock Unit Activity (Details)	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Shares
Non-vested outstanding, beginning balance (in shares) | shares	111,588
Granted (in shares) | shares	242,902
Vested (in shares) | shares	(8,541)
Forfeited or cancelled (in shares) | shares	(48,763)
Non-vested outstanding, ending balance (in shares) | shares	297,186
Weighted Average Grant Date Fair Value
Non-vested outstanding, weighted average grant date fair value, beginning balance (in dollars per share) | $ / shares	$ 14.99
Grants in period, weighted average exercise price (in dollars per share) | $ / shares	16.61
Vested in period, weighted average exercise price (in dollars per share) | $ / shares	15.21
Forfeited or cancelled in period, weighted average exercise price (in dollars per share) | $ / shares	16.14
Non-vested outstanding, weighted average grant date fair value, ending balance (in dollars per share) | $ / shares	$ 16.11
Restricted Stock Units (RSUs)
Shares
Non-vested outstanding, beginning balance (in shares) | shares	111,588
Granted (in shares) | shares	60,729
Vested (in shares) | shares	(8,541)
Forfeited or cancelled (in shares) | shares	(27,646)
Non-vested outstanding, ending balance (in shares) | shares	136,130
Weighted Average Grant Date Fair Value
Non-vested outstanding, weighted average grant date fair value, beginning balance (in dollars per share) | $ / shares	$ 14.99
Grants in period, weighted average exercise price (in dollars per share) | $ / shares	17.50
Vested in period, weighted average exercise price (in dollars per share) | $ / shares	15.21
Forfeited or cancelled in period, weighted average exercise price (in dollars per share) | $ / shares	16.02
Non-vested outstanding, weighted average grant date fair value, ending balance (in dollars per share) | $ / shares	$ 15.89
Market-Based Stock Units (MSUs)
Shares
Non-vested outstanding, beginning balance (in shares) | shares	0
Granted (in shares) | shares	60,715
Vested (in shares) | shares	0
Forfeited or cancelled (in shares) | shares	(7,039)
Non-vested outstanding, ending balance (in shares) | shares	53,676
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	13.92
Vested in period, weighted average exercise price (in dollars per share) | $ / shares	0
Forfeited or cancelled in period, weighted average exercise price (in dollars per share) | $ / shares	13.92
Non-vested outstanding, weighted average grant date fair value, ending balance (in dollars per share) | $ / shares	$ 13.92
Performance Stock Units (PSUs)
Shares
Non-vested outstanding, beginning balance (in shares) | shares	0
Granted (in shares) | shares	121,458
Vested (in shares) | shares	0
Forfeited or cancelled (in shares) | shares	(14,078)
Non-vested outstanding, ending balance (in shares) | shares	107,380
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	17.50
Vested in period, weighted average exercise price (in dollars per share) | $ / shares	0
Forfeited or cancelled in period, weighted average exercise price (in dollars per share) | $ / shares	17.50
Non-vested outstanding, weighted average grant date fair value, ending balance (in dollars per share) | $ / shares	$ 17.50

Transactions with Related Par_2

Transactions with Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jul. 14, 2020	Jan. 02, 2020
Related Party Transaction [Line Items]
Gross earned premiums	$ 138,624	$ 100,347	$ 266,923	$ 200,833
Trean Intermediaries
Related Party Transaction [Line Items]
Ownership percentage						25.00%
Trean Intermediaries | Affiliated Entity
Related Party Transaction [Line Items]
Revenue from related parties	$ 50	100	$ 50	100
Compstar Holding Company LLC
Related Party Transaction [Line Items]
Ownership percentage					45.00%
Compstar Holding Company LLC | Affiliated Entity | Program Manager Agreement
Related Party Transaction [Line Items]
Gross earned premiums		43,917		90,199
Gross commissions		$ 7,737		$ 17,709

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	Aug. 11, 2021	Jul. 06, 2021	Jan. 03, 2020	Jun. 30, 2021	Jun. 30, 2020
Subsequent Event [Line Items]
Proceeds from sale of equity method investment				$ 232	$ 3,000
Trean Intermediaries
Subsequent Event [Line Items]
Proceeds from sale of equity method investment			$ 3,000
Subsequent Event | Trean Intermediaries
Subsequent Event [Line Items]
Proceeds from sale of equity method investment	$ 1,888
Western Integrated Care, LLC | Subsequent Event
Subsequent Event [Line Items]
Percentage of voting interests acquired		100.00%
Purchase price		$ 4,000