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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, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Gross premiums written $ 553,401 $ 474,123 $ 1,878,645 $ 1,517,247
Reinsurance premiums ceded (75,505) (90,557) (410,802) (400,475)
Net premiums written 477,896 383,566 1,467,843 1,116,772
Net change in unearned premiums (29,101) (46,530) (214,981) (164,374)
Net premiums earned 448,795 337,036 1,252,862 952,398
Net realized and unrealized gains (losses) on investments 48,228 47,343 454,851 101,881
Net investment income (loss) 17,330 8,069 43,667 17,719
Total net realized and unrealized gains (losses) on investments and net investment income (loss) 65,558 55,412 498,518 119,600
Other income (loss) 4,464 2,386 17,934 7,838
Net foreign exchange gains (losses) (5,973) 1,432 (9,883) (3,953)
Total revenues 512,844 396,266 1,759,431 1,075,883
Expenses        
Losses and loss adjustment expenses 273,632 191,577 720,478 519,554
Acquisition costs 102,201 78,537 283,059 220,532
General and administrative expenses 62,392 63,035 182,164 158,075
Amortization of intangible assets 5,204 2,794 11,773 7,869
Interest expense 5,351 5,288 17,090 16,007
Total expenses 448,780 341,231 1,214,564 922,037
Income (loss) before income tax 64,064 55,035 544,867 153,846
Income tax expense (benefit) 3,029 2,387 6,118 6,908
Net income (loss) 61,035 52,648 538,749 146,938
Net income (loss) attributable to non-controlling interest (17,215) 9,065 172,240 15,076
Net income (loss) and other comprehensive income (loss) attributable to common shareholders $ 78,250 $ 43,583 $ 366,509 $ 131,862
Per share data        
Basic income (loss) per share attributable to common shareholders (in dollars per share) $ 0.77 $ 0.42 $ 3.45 $ 1.27
Diluted income (loss) per share attributable to common shareholders (in dollars per share) $ 0.74 $ 0.41 $ 3.33 $ 1.26