The following tables present the Company’s fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025 ($ in millions):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | | Level 1 | | Level 2 | | Level 3 | | Total | | Financial Assets: | | | | | | | | | | Corporate debt securities | | $ | — | | | $ | 490.9 | | | $ | — | | | $ | 490.9 | | | U.S. Government obligations | | — | | | 163.1 | | | — | | | 163.1 | | | Asset-backed securities | | — | | | 50.7 | | | — | | | 50.7 | | Non-U.S. government obligations | | — | | | 27.1 | | | — | | | 27.1 | | | Fixed maturities | | $ | — | | | $ | 731.8 | | | $ | — | | | $ | 731.8 | | | Short term investments | | — | | | 19.5 | | | — | | | 19.5 | | | Total | | $ | — | | | $ | 751.3 | | | $ | — | | | $ | 751.3 | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | Level 1 | | Level 2 | | Level 3 | | Total | | Financial Assets: | | | | | | | | | | Corporate debt securities | | $ | — | | | $ | 501.2 | | | $ | — | | | $ | 501.2 | | | U.S. Government obligations | | — | | | 140.1 | | | — | | | 140.1 | | | Asset-backed securities | | — | | | 45.5 | | | — | | | 45.5 | | Non-U.S. government obligations | | — | | | 22.0 | | | — | | | 22.0 | | | Fixed maturities | | $ | — | | | $ | 708.8 | | | $ | — | | | $ | 708.8 | | | Short term investments | | — | | | 14.1 | | | — | | | 14.1 | | | Total | | $ | — | | | $ | 722.9 | | | $ | — | | | $ | 722.9 | | | | | | | | | | | | Financial Liabilities: | | | | | | | | | Warrant Liability (1) | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
(1) Fair value of Public and Private warrant liability amounted to less than $0.1 million as of December 31, 2025. These warrants expired on February 9, 2026.
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