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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues        
Gross premiums written $ 181,588 $ 128,205 $ 553,691 $ 387,234
Gross premiums ceded (7,931) (2,119) (13,880) (7,748)
Net premiums written 173,657 126,086 539,811 379,486
Change in net unearned premium reserves (964) (13,294) (54,892) (3,000)
Net premiums earned 172,693 112,792 484,919 376,486
Net investment income (loss) 63,976 32,945 36,445 23,326
Other income (expense), net (520) (192) (224) (181)
Total revenues 236,149 145,545 521,140 399,631
Expenses        
Loss and loss adjustment expenses incurred, net 168,918 81,467 379,746 283,511
Acquisition costs, net 38,011 25,844 126,651 100,291
General and administrative expenses 8,202 6,937 21,292 18,930
Total expenses 215,131 114,248 527,689 402,732
Income (loss) before income tax 21,018 31,297 (6,549) (3,101)
Income tax (expense) benefit (65) (305) 109 (251)
Net income (loss) including non-controlling interest 20,953 30,992 (6,440) (3,352)
Loss (income) attributable to non-controlling interest in joint venture (1,078) (981) (780) (963)
Net income (loss) $ 19,875 $ 30,011 $ (7,220) $ (4,315)
Earnings (loss) per share        
Basic $ 0.53 $ 0.80 $ (0.20) $ (0.12)
Diluted $ 0.53 $ 0.80 $ (0.20) $ (0.12)
Weighted average number of ordinary shares used in the determination of earnings and loss per share        
Basic 37,345,985 37,323,575 36,994,969 36,928,283
Diluted 37,375,273 37,385,481 37,022,347 36,928,283