ADDED
( Osprey ), our captive reinsurance subsidiary that may provide a portion of the reinsurance protection purchased by our insurance company subsidiaries; Heritage MGA, LLC, our managing general agent; NBIC Service Company, which provides services to NBIC; and Contractors Alliance Network, LLC ( CAN ), our vendor network manager for claims.
We also write personal and commercial residential insurance on an admitted basis in Hawaii and on an excess and surplus lines basis in California, Florida, Hawaii, and South Carolina.
For the year ended December 31, 2025, we had gross premiums written of $1.4 billion and operating income of $267.2 million.
At December 31, 2025, we had total assets of $2.2 billion and total stockholders equity of $505.3 million.
We intend to continue to generate profitable underwriting results by undertaking the following: Sustain the Profitability of our Portfolio We believe that our goal to maintain the profitability of our business is achieved through continued disciplined underwriting, diversification of our book of business, and rate adequacy, as well as maintaining a robust reinsurance program.
We will continue underwriting and adequate rate discipline to maintain the profitability of our business and continuously monitor our portfolio to manage the risk of wind and other perils as well as the cost of our reinsurance program.
We have over 250 full-time employees dedicated to claims management.
Our CAN subsidiary provides claims vendor management services and water mitigation services which benefits our claims handling processes.
Continuing to expand and cultivate our relationships with professional independent agencies that understand our underwriting standards, the value and quality of our customer service, and claims handling capabilities helps foster a higher quality book of business.
Develop IT Solutions to More Effectively Service our Customers We continuously work to enhance our technology resources in order to better serve our agents and policyholders, streamline our processes, improve efficiency, and leverage new and developing technologies.
REMOVED
_________________________________________________________ Delaware 45-5338504 (STATE OF INCORPORATION) (I.R.S.
Form 10-K Summary 103 Signatures 104 FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of the federal securities laws.
( Osprey ), our captive reinsurance subsidiary that may provide a portion of the reinsurance protection purchased by our insurance company subsidiaries; Heritage MGA, LLC, our managing general agent; NBIC Service Company, which provides services to NBIC; Contractors Alliance Network, LLC ( CAN ), our vendor network manager for claims and provider of restoration, emergency and recovery services; and Skye Lane Properties, LLC, our property management subsidiary.
We also write personal residential insurance on an admitted basis in Hawaii and on an excess and surplus lines basis in California and Florida.
As of December 31, 2024, we had 376,002 personal residential policies in force, representing $1.1 billion of annualized premium, 2,891 commercial residential policies in force, representing $286.4 million of annualized premium, and 10,582 commercial general liability policies in force, representing $10.3 million of annualized premium, for a total of 389,475 policies and $1.4 billion of annualized premium.
For the year ended December 31, 2024, we had gross premiums 3 written of $1.4 billion and operating income of $93.6 million.
At December 31, 2024, we had total assets of $2.5 billion and total stockholders equity of $290.8 million.
We intend to continue to improve underwriting results by undertaking the following: Improve the Profitability of our Portfolio We believe that our goal to improve the profitability of our business will be achieved through continued disciplined underwriting, diversification of our book of business, and rate adequacy, as well as a robust reinsurance program.
We continue to take underwriting and rate actions to improve the profitability of our business and continuously monitor our portfolio to manage the risk of wind and other perils as well as the cost of our reinsurance program.
We have over 260 full-time employees dedicated to claims management.