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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Gross written premiums $ 100,706 $ 110,100 $ 194,194 $ 233,085
Ceded written premiums (2,955) (4,104) (4,358) (11,228)
Net written premiums 97,751 105,996 189,836 221,857
Change in net unearned premiums (4,937) 23,160 (443) 47,371
Net earned premiums 92,814 129,156 189,393 269,228
Net investment income 15,311 13,216 29,831 25,224
Net realized investment gains (losses) 205 (761) 1,052 (2,281)
Other income 357 282 702 636
Total revenues 108,687 141,893 220,978 292,807
Losses and Expenses:        
Net losses and loss adjustment expenses 53,662 78,082 107,046 166,083
Acquisition costs and other underwriting expenses 35,968 47,101 74,237 100,579
Corporate and other operating expenses 6,366 4,990 12,739 11,358
Interest expense 17 12 17 12
Income before income taxes 12,674 11,708 26,939 14,775
Income tax expense 2,581 2,371 5,480 2,944
Net income 10,093 9,337 21,459 11,831
Less: preferred stock distributions 110 110 220 220
Net income available to common shareholders $ 9,983 $ 9,227 $ 21,239 $ 11,611
Net income available to common shareholders        
Basic $ 0.73 $ 0.68 $ 1.56 $ 0.86
Diluted $ 0.73 $ 0.67 $ 1.55 $ 0.84
Weighted-average number of shares outstanding        
Basic 13,609,618 13,478,014 13,594,414 13,573,841
Diluted 13,677,908 13,707,984 13,659,154 13,794,221
Cash distributions declared per common share $ 0.35 $ 0.25 $ 0.7 $ 0.5