Income Taxes (Tables)

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Components of Deferred Tax Liability

The table below summarizes the significant components of the Company’s net deferred tax assets:

	June 30, 2024		December 31, 2023
Deferred tax assets:	(In thousands)
Unearned premiums	$	23,519	$	18,507
Unearned commission	7,958		7,964
Net operating loss	1		436
Tax-related discount on loss reserve	4,365		5,162
Stock-based compensation	684		331
Accrued expenses	905		1,677
Leases	937		940
Unrealized losses	11,506		11,655
Property and equipment	314		—
Other	277		473
Total deferred tax assets	50,466		47,145
Deferred tax liabilities:
Deferred acquisition costs	$	27,192	$	24,366
Prepaid expenses	189		189
Property and equipment	—		359
Note discount	73		152
Basis in purchased investments	7		8
Basis in purchased intangibles	8,658		9,327
Other	1,653		1,633
Total deferred tax liabilities	37,772		36,034
Net deferred tax asset:	$	12,694	$	11,111