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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Gross written premiums $ 110,100 $ 196,823 $ 233,085 $ 387,806
Ceded written premiums (4,104) (29,665) (11,228) (61,166)
Net written premiums 105,996 167,158 221,857 326,640
Change in net unearned premiums 23,160 (11,409) 47,371 (22,068)
Net earned premiums 129,156 155,749 269,228 304,572
Net investment income 13,216 1,930 25,224 8,522
Net realized investment losses (761) (9,916) (2,281) (35,301)
Other income 282 97 636 523
Total revenues 141,893 147,860 292,807 278,316
Losses and Expenses:        
Net losses and loss adjustment expenses 78,082 92,618 166,083 177,313
Acquisition costs and other underwriting expenses 47,101 61,098 100,579 117,790
Corporate and other operating expenses 4,990 2,993 11,358 7,653
Interest expense 12 410 12 3,005
Loss on extinguishment of debt 0 3,529 0 3,529
Income (loss) before income taxes 11,708 (12,788) 14,775 (30,974)
Income tax expense (benefit) 2,371 (626) 2,944 (4,039)
Net income (loss) 9,337 (12,162) 11,831 (26,935)
Less: preferred stock distributions 110 110 220 220
Net income (loss) available to common shareholders $ 9,227 $ (12,272) $ 11,611 $ (27,155)
Net income (loss) available to common shareholders        
Basic [1] $ 0.68 $ (0.84) $ 0.86 $ (1.87)
Diluted [1] $ 0.67 $ (0.84) $ 0.84 $ (1.87)
Weighted-average number of shares outstanding        
Basic 13,478,014 14,543,234 13,573,841 14,529,170
Diluted [2] 13,707,984 14,543,234 13,794,221 14,529,170
Cash distributions declared per common share $ 0.25 $ 0.25 $ 0.5 $ 0.5
[1] For the quarter and six months ended June 30, 2022, “weighted average shares outstanding – basic” was used to calculate “diluted earnings per share” due to a net loss in each period.
[2] For the quarter and six months ended June 30, 2022, “weighted average shares outstanding – basic” was used to calculate “diluted earnings per share” due to a net loss in each period.