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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Gross written premiums $ 98,926 $ 175,827 $ 332,011 $ 563,633
Ceded written premiums (3,303) (32,992) (14,531) (94,158)
Net written premiums 95,623 142,835 317,480 469,475
Change in net unearned premiums 16,072 10,809 63,443 (11,259)
Net earned premiums 111,695 153,644 380,923 458,216
Net investment income 14,200 8,389 39,424 16,911
Net realized investment gains (losses) (133) 2,234 (2,414) (33,067)
Other income 299 30,316 935 30,839
Total revenues 126,061 194,583 418,868 472,899
Losses and Expenses:        
Net losses and loss adjustment expenses 65,116 88,459 231,199 265,772
Acquisition costs and other underwriting expenses 46,202 60,876 146,781 178,666
Corporate and other operating expenses 5,280 14,064 16,638 21,718
Interest expense 0 0 12 3,004
Loss on extinguishment of debt 0 0 0 3,529
Income before income taxes 9,463 31,184 24,238 210
Income tax expense 1,763 7,438 4,707 3,399
Net income (loss) 7,700 23,746 19,531 (3,189)
Less: preferred stock distributions 110 110 330 330
Net income (loss) available to common shareholders $ 7,590 $ 23,636 $ 19,201 $ (3,519)
Net income (loss) available to common shareholders        
Basic [1] $ 0.56 $ 1.62 $ 1.42 $ (0.24)
Diluted [1] $ 0.55 $ 1.6 $ 1.39 $ (0.24)
Weighted-average number of shares outstanding        
Basic 13,522,874 14,589,797 13,556,665 14,549,601
Diluted [2] 13,814,445 14,795,962 13,798,876 14,549,601
Cash distributions declared per common share $ 0.25 $ 0.25 $ 0.75 $ 0.75
[1] For the nine months ended September 30, 2022, “weighted average shares outstanding – basic” was used to calculate “diluted earnings per share” due to a net loss for the period.
[2] For the nine months ended September 30, 2022, “weighted average shares outstanding – basic” was used to calculate “diluted earnings per share” due to a net loss for the period.