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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUE:        
Gross premiums written $ 228,346 $ 229,449 $ 426,198 $ 414,050
Change in gross unearned premiums (62,886) (73,999) (98,637) (98,330)
Gross premiums earned 165,460 155,450 327,561 315,720
Ceded premiums earned (87,017) (92,069) (180,846) (189,708)
Net premiums earned 78,443 63,381 146,715 126,012
Net investment income 5,793 5,347 10,304 9,364
Net realized investment gains (losses) 0 (121) 1,382 (121)
Net unrealized gains (losses) on equity securities 2,231 49 268 (1)
Total revenue 86,467 68,656 158,669 135,254
EXPENSES:        
Losses and loss adjustment expenses 15,540 15,277 26,929 27,751
Policy acquisition costs 24,257 13,939 47,723 23,534
General and administrative expenses 7,778 11,938 17,284 23,190
Interest expense 2,719 3,426 5,436 6,145
Total expenses 50,294 44,580 97,372 80,620
Income before other income 36,173 24,076 61,297 54,634
Other income 1,379 811 2,449 1,621
Income before income taxes 37,552 24,887 63,746 56,255
Provision for income taxes 9,515 5,814 15,998 13,473
Income from continuing operations, net of tax 28,037 19,073 47,748 42,782
Income (loss) from discontinued operations, net of tax (1,595) (19) 42 (129)
Net income 26,442 19,054 47,790 42,653
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains (losses) on investments, Pre-Tax Amount 3,042 73 7,254 (125)
Reclassification adjustment for net realized investment losses (gains) 0 121 (1,382) 121
Total comprehensive income $ 29,484 $ 19,248 $ 53,662 $ 42,649
Weighted average shares outstanding        
Weighted average shares outstanding, Basic 48,434,446 47,821,115 48,285,665 47,572,236
Weighted average shares outstanding, Diluted 49,636,088 49,398,463 49,556,882 49,162,233
Basic        
Continuing operations $ 0.58 $ 0.4 $ 0.99 $ 0.9
Discontinued operations (0.03) 0 0 0
Total 0.55 0.4 0.99 0.9
Diluted        
Continuing operations 0.56 0.39 0.96 0.87
Discontinued operations (0.03) 0 0 0
Total $ 0.53 $ 0.39 $ 0.96 $ 0.87