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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUE:        
Gross premiums written $ 426,424 $ 439,651 $ 738,062 $ 774,834
Change in gross unearned premiums (69,991) (95,512) (24,966) (86,076)
Gross premiums earned 356,433 344,139 713,096 688,758
Ceded premiums earned (210,973) (158,657) (421,687) (311,680)
Net premiums earned 145,460 185,482 291,409 377,078
Investment Income, Net 3,683 5,907 7,266 12,824
Net realized gains (losses) (124) 59 379 (9)
Unrealized Gain (Loss) on Securities 2,438 20,552 5,002 (5,904)
Other revenue 3,997 4,397 13,187 8,712
Total revenue 155,454 216,397 317,243 392,701
EXPENSES:        
Losses and loss adjustment expenses 118,064 101,693 233,845 204,530
Policy acquisition costs 41,327 52,573 82,148 111,448
Operating Costs and Expenses 13,482 13,977 26,704 23,681
General and administrative expenses 13,112 16,121 28,994 34,422
Interest expense 2,257 2,565 4,632 4,984
Total expenses 188,242 186,929 376,323 379,065
Income (loss) before other income (32,788) 29,468 (59,080) 13,636
Other income 15 14 25 42
Income (loss) before income taxes (32,773) 29,482 (59,055) 13,678
Provision for income taxes (9,352) 5,040 (17,174) 1,752
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest (23,421) 24,442 (41,881) 11,926
Net Income (Loss) Attributable to Noncontrolling Interest 89 168 (600) 375
Net income (loss) (23,510) 24,274 (41,281) 11,551
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains (losses) on investments 8,242 28,332 (13,497) 24,222
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax (124) 59 (379) 9
Income tax benefit (expense) related to items of other comprehensive income 2,012 6,858 3,364 (5,875)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest (17,067) 45,857 (52,393) 30,282
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 160 549 (757) 523
Total comprehensive income $ (17,227) $ 45,308 $ (51,636) $ 29,759
Weighted-average shares outstanding        
Weighted-average shares outstanding 42,950,666 42,860,922 42,924,662 42,833,225
Weighted-average diluted shares 42,950,666 43,055,115 42,924,662 43,041,623
Earnings Per Share        
Basic earnings per share $ (0.55) $ 0.57 $ (0.96) $ 0.27
Diluted earnings per share $ (0.55) $ 0.56 $ (0.96) $ 0.27