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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUE:    
Change in gross unearned premiums $ 145,540 $ 39,731
Investment Income, Net 2,589 1,404
EXPENSES:    
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest (260,878) 33,257
Net Income (Loss) Attributable to Noncontrolling Interest 0 (85)
Net income (loss) 260,878 (33,172)
OTHER COMPREHENSIVE INCOME:    
Change in net unrealized gains (losses) on investments 4,231 (27,689)
Reclassification adjustment for net realized investment (gains) losses 83 1,769
Income tax benefit (expense) related to items of other comprehensive income 0 6,236
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest 265,192 (52,941)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 0 (643)
Total comprehensive income $ 265,192 $ (52,298)
Weighted-average shares outstanding    
Weighted-average shares outstanding 43,124,825 42,980,691
Weighted-average diluted shares 43,574,840 42,980,691
Earnings Per Share    
Basic earnings per share $ 6.05 $ (0.77)
Diluted earnings per share $ 5.99 $ (0.77)
Unearned premiums $ (145,540) $ (39,731)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 260,878 $ (33,257)
Basic earnings per share $ 6.05 $ (0.77)
Diluted earnings per share $ 5.99 $ (0.77)
Investment Income, Net $ 2,589 $ 1,404
Continuing Operations    
REVENUE:    
Gross premiums written 187,123 142,414
Change in gross unearned premiums (42,647) (19,681)
Gross premiums earned 144,476 122,733
Ceded premiums earned (57,152) (64,987)
Net premiums earned 87,324 57,746
Investment Income, Net 2,589 1,404
Gain (Loss) on Investments (83) 37
Increase (Decrease) in Equity Securities, FV-NI 474 (770)
Other revenue 4,075 8,738
Total revenue (104,047) (117,361)
EXPENSES:    
Losses and loss adjustment expenses 19,073 32,518
Policy acquisition costs 26,927 52,152
Operating Costs and Expenses 5,651 10,603
General and administrative expenses 9,837 15,435
Interest expense (2,719) (2,359)
Total expenses 64,207 113,067
Income (loss) before other income 39,840 4,294
Other income 588 1,333
Provision for income taxes 9,855 980
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest (30,573) (4,647)
Net Income (Loss) Attributable to Noncontrolling Interest 0 (85)
Net income (loss) $ 30,573 $ 4,732
Earnings Per Share    
Basic earnings per share $ 0.71 $ 0.11
Diluted earnings per share $ 0.70 $ 0.11
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ 40,428 $ 5,627
Unearned premiums 42,647 19,681
Revenues 104,047 117,361
Interest expense 2,719 2,359
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 30,573 $ 4,647
Basic earnings per share $ 0.71 $ 0.11
Diluted earnings per share $ 0.70 $ 0.11
Insurance Agency Management Fee $ 9,668 $ 50,206
Gross premiums written 187,123 142,414
Gross premiums earned 144,476 122,733
Ceded Premiums Earned 57,152 64,987
Premiums Earned, Net, Property and Casualty 87,324 57,746
Investment Income, Net 2,589 1,404
Gain (Loss) on Investments (83) 37
Increase (Decrease) in Equity Securities, FV-NI 474 (770)
Other revenue 4,075 8,738
Losses and loss adjustment expenses 19,073 32,518
Policy acquisition costs 26,927 52,152
Operating Costs and Expenses 5,651 10,603
General and administrative expenses 9,837 15,435
Costs and Expenses 64,207 113,067
Operating Income (Loss) 39,840 4,294
Other income 588 1,333
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 40,428 5,627
Provision for income taxes 9,855 980
Discontinued Operations    
REVENUE:    
Gross premiums written (120,608) 146,828
Change in gross unearned premiums 198,154 59,726
Gross premiums earned 77,546 206,554
Ceded premiums earned (48,203) (163,443)
Net premiums earned 29,343 43,111
Investment Income, Net 2,182 1,075
Gain (Loss) on Investments 1,343 (1,806)
Increase (Decrease) in Equity Securities, FV-NI 2,080 (1,498)
Other revenue 71 170
Total revenue (35,019) (41,052)
EXPENSES:    
Losses and loss adjustment expenses 33,978 64,691
Policy acquisition costs 8,361 24,070
Operating Costs and Expenses 513 1,645
General and administrative expenses 240 570
Interest expense (22) (20)
Total expenses 43,114 90,996
Income (loss) before other income (8,095) (49,944)
Other income 0 9
Provision for income taxes (9,217) (12,031)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest $ (230,305) $ 37,904
Earnings Per Share    
Basic earnings per share $ 5.34 $ (0.88)
Diluted earnings per share $ 5.29 $ (0.88)
Unearned premiums $ (198,154) $ (59,726)
Revenues 35,019 41,052
Interest expense 22 20
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 230,305 $ (37,904)
Basic earnings per share $ 5.34 $ (0.88)
Diluted earnings per share $ 5.29 $ (0.88)
Gross premiums written $ (120,608) $ 146,828
Gross premiums earned 77,546 206,554
Ceded Premiums Earned 48,203 163,443
Premiums Earned, Net, Property and Casualty 29,343 43,111
Investment Income, Net 2,182 1,075
Gain (Loss) on Investments 1,343 (1,806)
Increase (Decrease) in Equity Securities, FV-NI 2,080 (1,498)
Other revenue 71 170
Losses and loss adjustment expenses 33,978 64,691
Policy acquisition costs 8,361 24,070
Operating Costs and Expenses 513 1,645
General and administrative expenses 240 570
Costs and Expenses 43,114 90,996
Operating Income (Loss) (8,095) (49,944)
Other income 0 9
Provision for income taxes $ (9,217) $ (12,031)