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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Earned premiums, net $ 175,026 $ 116,418 $ 498,903 $ 344,994
Service and administrative fees 69,664 47,701 191,414 134,290
Ceding commissions 2,722 5,157 8,827 16,217
Net investment income 3,330 3,023 9,331 8,803
Net realized and unrealized gains (losses) 14,805 38,959 120,268 6,628
Other revenue 21,058 12,783 52,237 41,974
Total revenues 286,605 224,041 880,980 552,906
Expenses:        
Policy and contract benefits 80,831 57,738 237,198 167,761
Commission expense 104,392 68,868 292,580 207,172
Employee compensation and benefits 48,643 45,715 147,260 124,894
Interest expense 8,657 8,321 26,890 23,518
Depreciation and amortization 6,119 4,010 18,261 12,244
Other expenses 34,379 25,492 104,340 80,737
Total expenses 283,021 210,144 826,529 616,326
Income (loss) before taxes 3,584 13,897 54,451 (63,420)
Less: provision (benefit) for income taxes 237 (844) 11,416 (22,030)
Net income (loss) 3,347 14,741 43,035 (41,390)
Net income (loss) attributable to non-controlling interests 1,339 1,978 4,477 2,038
Net income (loss) attributable to common stockholders $ 2,008 $ 12,763 $ 38,558 $ (43,428)
Net income (loss) per common share:        
Basic earnings per share (in dollars per share) $ 0.06 $ 0.37 $ 1.15 $ (1.27)
Diluted earnings per share (in dollars per share) $ 0.06 $ 0.35 $ 1.11 $ (1.27)
Weighted average number of common shares:        
Basic (in shares) 33,558,106 33,684,301 32,963,451 34,076,837
Diluted (in shares) 34,132,182 33,684,301 35,025,211 34,076,837
Dividends declared per common share (in dollars per share) $ 0.04 $ 0.04 $ 0.12 $ 0.12