Revenue: As of FY2026 Q2, the actual value is USD 9.142 M.

EPS: As of FY2026 Q2, the actual value is USD 0.68.

EBIT: As of FY2026 Q2, the actual value is USD 3.213 M.

First Half 2026 Financial Highlights

Net income for the first half of 2026 doubled to $5.2 million, compared to $2.6 million in the same period last year. The combined ratio improved to 86.4% from 131.2%. Book value was $7.41 per share, with a weighted average share count of 3,105,236.

Overall Financial Results (dollars in thousands)

Three Months Ended June 30, 2026 vs. 2025

• Gross written premiums were $13,070 in 2026, down from $21,079 in 2025, a -38.0% change.
• Net written premiums were $16,652 in 2026, up from $1,383 in 2025.
• Net earned premiums were $6,808 in 2026, down from $9,564 in 2025, a -28.8% change.
• Net investment income was $1,040 in 2026, down from $1,298 in 2025, a -19.9% change.
• Net realized investment gains (losses) were - $87 in 2026, compared to - $28 in 2025.
• Change in fair value of equity securities was $81 in 2026, compared to - $65 in 2025.
• Net income (loss) was $2,536 in 2026, up from $2,051 in 2025, a 23.6% change.
• Adjusted operating income (loss) was $1,322 in 2026, compared to - $2,070 in 2025.
• Book value per common share outstanding was $7.41 as of June 30, 2026, compared to $16.15 as of June 30, 2025.
• Loss ratio was 24.6% in 2026, down from 68.8% in 2025.
• Expense ratio was 44.9% in 2026, down from 52.3% in 2025.
• Combined ratio was 69.5% in 2026, down from 121.1% in 2025.

Six Months Ended June 30, 2026 vs. 2025

• Gross written premiums were $24,539 in 2026, down from $37,252 in 2025, a -34.1% change.
• Net written premiums were $22,727 in 2026, up from $12,223 in 2025, an 85.9% change.
• Net earned premiums were $12,733 in 2026, down from $19,879 in 2025, a -35.9% change.
• Net investment income was $2,150 in 2026, down from $2,587 in 2025, a -16.9% change.
• Net realized investment gains (losses) were - $101 in 2026, compared to - $25 in 2025.
• Change in fair value of equity securities was $111 in 2026, compared to - $257 in 2025.
• Net income (loss) was $5,158 in 2026, up from $2,573 in 2025, a 100.5% change.
• Adjusted operating income (loss) was $384 in 2026, compared to - $5,754 in 2025.
• Loss ratio was 39.3% in 2026, down from 79.7% in 2025.
• Expense ratio was 47.1% in 2026, down from 51.5% in 2025.
• Combined ratio was 86.4% in 2026, down from 131.2% in 2025.

Personal Lines Financial Review (dollars in thousands)

Three Months Ended June 30, 2026 vs. 2025

• Gross written premiums were $13,073 in 2026, down from $17,889 in 2025, a -26.9% change.
• Net written premiums were $16,632 in 2026, up from $1,816 in 2025.
• Net earned premiums were $6,703 in 2026, down from $9,096 in 2025, a -26.3% change.
• Loss ratio was 60.2% in 2026, down from 61.2% in 2025.
• Expense ratio was 35.2% in 2026, down from 53.0% in 2025.
• Combined ratio was 95.4% in 2026, down from 114.2% in 2025.
• Accident year combined ratio was 90.9% in 2026, down from 109.5% in 2025.

Six Months Ended June 30, 2026 vs. 2025

• Gross written premiums were $24,560 in 2026, down from $32,015 in 2025, a -23.3% change.
• Net written premiums were $22,723 in 2026, up from $14,259 in 2025, a 59.4% change.
• Net earned premiums were $12,495 in 2026, down from $18,080 in 2025, a -30.9% change.
• Loss ratio was 61.1% in 2026, down from 73.7% in 2025.
• Expense ratio was 35.4% in 2026, down from 53.8% in 2025.
• Combined ratio was 96.5% in 2026, down from 127.5% in 2025.
• Accident year combined ratio was 93.2% in 2026, down from 120.9% in 2025.Personal lines premium constituted 100% of total gross written premium for Q2 2026, primarily from Texas homeowners and select Midwestern states.

Commercial Lines Financial Review (dollars in thousands)

Three Months Ended June 30, 2026 vs. 2025

• Gross written premiums were - $3 in 2026, down from $3,190 in 2025.
• Net written premiums were $20 in 2026, compared to - $433 in 2025.
• Net earned premiums were $105 in 2026, down from $468 in 2025.
• Loss ratio was Not meaningful in 2026, compared to 216.4% in 2025.
• Expense ratio was Not meaningful in 2026, compared to 40.9% in 2025.
• Combined ratio was Not meaningful in 2026, compared to 257.3% in 2025.
• Accident year combined ratio was Not meaningful in 2026, compared to 230.6% in 2025.

Six Months Ended June 30, 2026 vs. 2025

• Gross written premiums were - $21 in 2026, down from $5,237 in 2025.
• Net written premiums were $4 in 2026, compared to - $2,036 in 2025.
• Net earned premiums were $238 in 2026, down from $1,799 in 2025, an -86.8% change.
• Loss ratio was Not meaningful in 2026, compared to 140.0% in 2025.
• Expense ratio was Not meaningful in 2026, compared to 29.5% in 2025.
• Combined ratio was Not meaningful in 2026, compared to 169.5% in 2025.
• Accident year combined ratio was Not meaningful in 2026, compared to 197.0% in 2025.Commercial lines represented 0% of total gross written premium in Q2 2026, reflecting the planned runoff of legacy commercial exposures.

Condensed Consolidated Balance Sheets (dollars in thousands)

As of June 30, 2026 vs. December 31, 2025

• Total investments were $114,940 as of June 30, 2026, compared to $114,307 as of December 31, 2025.
• Cash and cash equivalents were $12,798 as of June 30, 2026, compared to $27,362 as of December 31, 2025.
• Total assets were $222,474 as of June 30, 2026, compared to $239,283 as of December 31, 2025.
• Total liabilities were $194,729 as of June 30, 2026, compared to $230,317 as of December 31, 2025.
• Total shareholders’ equity was $27,745 as of June 30, 2026, compared to $8,966 as of December 31, 2025.

Outlook / Guidance

The press release contains forward-looking statements regarding expectations for premiums, earnings, capital position, expansion, and growth strategies. These statements are based on management’s good-faith belief and reasonable judgment. However, actual results could differ materially due to various factors, including risks detailed in the company’s SEC filings.