v3.19.2
Discontinued Operations (Tables)
6 Months Ended
Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of disposal groups, including discontinued operations, balance sheet, income statement disclosures
The classes of assets and liabilities to be sold and classified as held for sale as of June 30, 2019 and December 31, 2018 comprise:
 
 
June 30, 2019
 
December 31, 2018
ASSETS
 
 
 
 
Fixed maturities, available-for-sale, at fair value
 
$

 
$
63,560

Restricted cash and cash equivalents
 

 
6,113

Reinsurance balances receivable, net
 
689

 
689

Reinsurance recoverable on unpaid losses
 
65,320

 
70,158

Other assets
 

 
33,955

Total assets held for sale
 
$
66,009

 
$
174,475

LIABILITIES
 
 
 
 
Reserve for loss and loss adjustment expenses
 
$
65,320

 
$
76,521

Accrued expenses and other liabilities
 
689

 
79,440

Total liabilities held for sale
 
$
66,009

 
$
155,961


The following table summarizes the major classes of line items constituting the results from discontinued operations for the three and six months ended June 30, 2019 and 2018, respectively, presented in the Condensed Consolidated Statements of Income:
 
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
 
2019
 
2018
 
2019
 
2018
Gross premiums written
 
$

 
$
132,710

 
$

 
$
362,022

Net premiums written
 
$

 
$
124,560

 
$

 
$
351,242

Net premiums earned
 
$

 
$
162,958

 
$

 
$
331,577

Other revenue
 

 

 
62

 

Net investment income
 

 
10,053

 

 
20,054

Net loss and loss adjustment expenses
 
6,363

 
(121,553
)
 
6,363

 
(241,671
)
Commission and other acquisition expenses
 

 
(35,965
)
 

 
(77,951
)
General and administrative expenses
 
(815
)
 
(4,714
)
 
(1,832
)
 
(8,993
)
Amortization of intangible assets
 

 
(462
)
 

 
(924
)
Income from discontinued operations before income taxes
 
5,548

 
10,317

 
4,593

 
22,092

Loss on disposal of discontinued operations
 
(23,077
)
 

 
(25,474
)
 

Income tax expense
 
(1,169
)
 
(2,102
)
 
(1,169
)
 
(3,882
)
(Loss) income from discontinued operations, net of income tax
 
$
(18,698
)
 
$
8,215

 
$
(22,050
)
 
$
18,210