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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Gross written premiums $ 122,985 $ 190,983
Ceded written premiums (7,124) (31,501)
Net written premiums 115,861 159,482
Change in net unearned premiums 24,211 (10,659)
Net earned premiums 140,072 148,823
Net investment income 12,008 6,592
Net realized investment losses (1,520) (25,385)
Other income 354 426
Total revenues 150,914 130,456
Losses and Expenses:    
Net losses and loss adjustment expenses 88,001 84,695
Acquisition costs and other underwriting expenses 53,478 56,692
Corporate and other operating expenses 6,368 4,660
Interest expense 0 2,595
Income (loss) before income taxes 3,067 (18,186)
Income tax expense (benefit) 573 (3,413)
Net income (loss) 2,494 (14,773)
Less: preferred stock distributions 110 110
Net income (loss) available to common shareholders $ 2,384 $ (14,883)
Net income (loss) available to common shareholders    
Basic [1] $ 0.17 $ (1.03)
Diluted [1] $ 0.17 $ (1.03)
Weighted-average number of shares outstanding    
Basic 13,670,732 14,514,950
Diluted [2] 13,929,146 14,514,950
Cash distributions declared per common share $ 0.25 $ 0.25
[1] For the quarter ended March 31, 2022, “weighted average shares outstanding – basic” was used to calculate “diluted earnings per share” due to a net loss for this period.
[2] For the quarter ended March 31, 2022, “weighted average shares outstanding – basic” was used to calculate “diluted earnings per share” due to a net loss in this period.