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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Gross premiums written $ 474,123 $ 400,811 $ 1,517,247 $ 1,305,421
Reinsurance premiums ceded (90,557) (100,000) (400,475) (366,933)
Net premiums written 383,566 300,811 1,116,772 938,488
Net change in unearned premiums (46,530) (5,868) (164,374) (107,021)
Net premiums earned 337,036 294,943 952,398 831,467
Net realized and unrealized gains (losses) on investments 47,343 (67,380) 101,881 146,640
Net investment income (loss) 8,069 (5,255) 17,719 (22,185)
Total realized and unrealized gains (losses) on investments and net investment income (loss) 55,412 (72,635) 119,600 124,455
Other income (loss) 2,386 2,727 7,838 9,117
Net foreign exchange gains (losses) 1,432 1,906 (3,953) 15,382
Total revenues 396,266 226,941 1,075,883 980,421
Expenses        
Losses and loss adjustment expenses 191,577 257,963 519,554 597,014
Acquisition costs 78,537 65,735 220,532 194,795
General and administrative expenses 63,035 46,344 158,075 135,290
Amortization of intangible assets 2,794 3,178 7,869 9,874
Interest expense 5,288 4,102 16,007 11,255
Total expenses 341,231 377,322 922,037 948,228
Income (loss) before income tax 55,035 (150,381) 153,846 32,193
Income tax expense 2,387 1,054 6,908 3,103
Net income (loss) 52,648 (151,435) 146,938 29,090
Net income (loss) attributable to non-controlling interest 9,065 (15,318) 15,076 68,069
Net income (loss) and other comprehensive income (loss) attributable to common shareholders $ 43,583 $ (136,117) $ 131,862 $ (38,979)
Per share data        
Basic income (loss) per share attributable to common shareholders (in dollars per share) $ 0.42 $ (1.32) $ 1.27 $ (0.38)
Diluted income (loss) per share attributable to common shareholders (in dollars per share) $ 0.41 $ (1.32) $ 1.26 $ (0.38)