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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUE:        
Gross premiums written $ 255,203 $ 322,493 $ 894,824 $ 1,060,555
Change in gross unearned premiums 46,693 30,968 32,036 6,002
Gross premiums earned 301,896 353,461 926,860 1,066,557
Ceded premiums earned (185,709) (200,190) (598,411) (621,877)
Net premiums earned 116,187 153,271 328,449 444,680
Investment Income, Net 4,269 3,471 9,887 10,737
Gain (Loss) on Investments (9) 5,537 (1,856) 5,916
Increase (Decrease) in Equity Securities, FV-NI (2,518) (3,293) (9,870) 1,709
Other revenue 5,859 3,754 15,337 16,941
Total revenue 123,788 162,740 341,947 479,983
EXPENSES:        
Losses and loss adjustment expenses 117,228 102,769 298,670 336,614
Policy acquisition costs 38,944 46,925 93,948 129,073
Operating Costs and Expenses 9,615 15,429 34,882 42,133
General and administrative expenses 26,391 13,940 56,890 42,934
Interest expense 2,392 2,378 7,165 7,010
Total expenses 194,570 181,441 491,555 557,764
Income (loss) before other income (70,782) (18,701) (149,608) (77,781)
Other income (15) 101 1,599 126
Provision for income taxes 87 (3,482) 25,187 (20,656)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest (70,884) (15,118) (173,196) (56,999)
Net Income (Loss) Attributable to Noncontrolling Interest 0 (796) (111) (1,396)
Net income (loss) (70,884) (14,322) (173,085) (55,603)
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains (losses) on investments (15,953) 2,401 (60,232) (11,096)
Reclassification adjustment for net realized investment (gains) losses 9 5,537 1,856 5,916
Income tax benefit (expense) related to items of other comprehensive income 0 (744) 49 (4,108)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest (86,828) (17,510) (231,523) (69,903)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 0 (844) (164) (1,601)
Total comprehensive income $ (86,828) $ (16,666) $ (231,359) $ (68,302)
Weighted-average shares outstanding        
Weighted-average shares outstanding 43,075,234 42,971,535 43,035,374 42,940,458
Weighted-average diluted shares 43,075,234 42,971,535 43,035,374 42,940,458
Earnings Per Share        
Basic earnings per share $ (1.65) $ (0.33) $ (4.02) $ (1.29)
Diluted earnings per share $ (1.65) $ (0.33) $ (4.02) $ (1.29)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ (70,797) $ (18,600) $ (148,009) $ (77,655)