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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
Other revenue 16 15
Total revenue (90,320) (58,432)
EXPENSES:    
Losses and loss adjustment expenses 16,412 26,315
Policy acquisition costs 26,972 20,308
Operating Costs and Expenses 2,168 3,707
General and administrative expenses 8,793 8,064
Total expenses 54,345 60,753
Income (loss) before other income 33,256 (2,321)
Provision for income taxes 3,477 (715)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest (267,280) 33,257
Net Income (Loss) Attributable to Noncontrolling Interest 0 (85)
Net income (loss) 267,280 (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 271,594 (52,941)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 0 (643)
Total comprehensive income $ 271,594 $ (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 $ 6.19 $ (0.77)
Diluted earnings per share $ 6.14 $ (0.77)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ 33,844 $ (988)
Unearned premiums (145,540) (39,731)
Revenues 90,320 58,432
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 267,280 $ (33,257)
Basic earnings per share $ 6.19 $ (0.77)
Diluted earnings per share $ 6.14 $ (0.77)
Insurance Agency Management Fee $ 0 $ 0
Investment Income, Net 2,589 1,404
Other revenue 16 15
Losses and loss adjustment expenses 16,412 26,315
Policy acquisition costs 26,972 20,308
Operating Costs and Expenses 2,168 3,707
General and administrative expenses 8,793 8,064
Costs and Expenses 54,345 60,753
Operating Income (Loss) 33,256 (2,321)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 33,844 (988)
Provision for income taxes 3,477 (715)
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 16 15
Total revenue (90,320) (58,432)
EXPENSES:    
Losses and loss adjustment expenses 16,412 26,315
Policy acquisition costs 26,972 20,308
Operating Costs and Expenses 2,168 3,707
General and administrative expenses 8,793 8,064
Interest expense (2,719) (2,359)
Total expenses 57,064 60,753
Income (loss) before other income 33,256 (2,321)
Other income 588 1,333
Provision for income taxes 3,477 (715)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest (30,367) 273
Net Income (Loss) Attributable to Noncontrolling Interest 0 (85)
Net income (loss) $ 30,367 $ (188)
Earnings Per Share    
Basic earnings per share $ 0.70 $ 0
Diluted earnings per share $ 0.70 $ 0
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ 33,844 $ (988)
Unearned premiums 42,647 19,681
Revenues 90,320 58,432
Interest expense 2,719 2,359
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 30,367 $ (273)
Basic earnings per share $ 0.70 $ 0
Diluted earnings per share $ 0.70 $ 0
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 16 15
Losses and loss adjustment expenses 16,412 26,315
Policy acquisition costs 26,972 20,308
Operating Costs and Expenses 2,168 3,707
General and administrative expenses 8,793 8,064
Costs and Expenses 57,064 60,753
Operating Income (Loss) 33,256 (2,321)
Other income 588 1,333
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 33,844 (988)
Provision for income taxes 3,477 (715)
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 2,717 3,063
Total revenue (37,665) (43,945)
EXPENSES:    
Losses and loss adjustment expenses 35,226 65,064
Policy acquisition costs (1,352) 5,708
Operating Costs and Expenses 3,996 8,541
General and administrative expenses 1,284 7,941
Interest expense (22) (20)
Total expenses 39,176 87,274
Income (loss) before other income (1,511) (43,329)
Other income 0 9
Provision for income taxes 16 (10,336)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest $ (236,913) $ 32,984
Earnings Per Share    
Basic earnings per share $ 5.49 $ (0.77)
Diluted earnings per share $ 5.44 $ (0.77)
Unearned premiums $ (198,154) $ (59,726)
Revenues 37,665 43,945
Interest expense 22 20
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 236,913 $ (32,984)
Basic earnings per share $ 5.49 $ (0.77)
Diluted earnings per share $ 5.44 $ (0.77)
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 2,717 3,063
Losses and loss adjustment expenses 35,226 65,064
Policy acquisition costs (1,352) 5,708
Operating Costs and Expenses 3,996 8,541
General and administrative expenses 1,284 7,941
Costs and Expenses 39,176 87,274
Operating Income (Loss) (1,511) (43,329)
Other income 0 9
Provision for income taxes $ 16 $ (10,336)