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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUE:        
Gross premiums written $ 360,146 $ 426,424 $ 639,621 $ 738,062
Change in gross unearned premiums (54,388) (69,991) (14,657) (24,966)
Gross premiums earned 305,758 356,433 624,964 713,096
Ceded premiums earned (194,353) (210,973) (412,702) (421,687)
Net premiums earned 111,405 145,460 212,262 291,409
Investment Income, Net 3,140 3,683 5,618 7,266
Gain (Loss) on Investments (78) (124) (1,847) 379
Increase (Decrease) in Equity Securities, FV-NI (5,084) 2,438 (7,352) 5,002
Other revenue 6,410 3,997 9,478 13,187
Total revenue 115,793 155,454 218,159 317,243
EXPENSES:        
Losses and loss adjustment expenses 90,074 118,064 181,442 233,845
Policy acquisition costs 28,988 41,327 55,004 82,148
Operating Costs and Expenses 13,019 13,482 25,267 26,704
General and administrative expenses 14,494 13,112 30,499 28,994
Interest expense 2,394 2,257 4,773 4,632
Total expenses 148,969 188,242 296,985 376,323
Income (loss) before other income (33,176) (32,788) (78,826) (59,080)
Other income 271 15 1,614 25
Provision for income taxes 36,150 (9,352) 25,100 (17,174)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest (69,055) (23,421) (102,312) (41,881)
Net Income (Loss) Attributable to Noncontrolling Interest (26) 89 (111) (600)
Net income (loss) (69,029) (23,510) (102,201) (41,281)
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains (losses) on investments (16,590) 8,242 (44,279) (13,497)
Reclassification adjustment for net realized investment (gains) losses 78 (124) 1,847 379
Income tax benefit (expense) related to items of other comprehensive income (6,187) 2,012 49 (3,364)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest (91,754) (17,067) (144,695) (52,393)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 479 160 (164) (757)
Total comprehensive income $ (92,233) $ (17,227) $ (144,531) $ (51,636)
Weighted-average shares outstanding        
Weighted-average shares outstanding 43,049,227 42,950,666 43,015,114 42,924,662
Weighted-average diluted shares 43,049,227 42,950,666 43,015,114 42,924,662
Earnings Per Share        
Basic earnings per share $ (1.60) $ (0.55) $ (2.38) $ (0.96)
Diluted earnings per share $ (1.60) $ (0.55) $ (2.38) $ (0.96)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ (32,905) $ (32,773) $ (77,212) $ (59,055)