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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Gross premiums written $ 109,787 $ 162,560
Gross premiums ceded (678) (21,401)
Net premiums written 109,109 141,159
Change in net unearned premium reserves 1,912 (15,797)
Net premiums earned 111,021 125,362
Income (loss) from investment in related party investment fund [net of related party expenses of $662 and $5,432, respectively] (42,126) 30,756
Net investment income 6,837 1,567
Other income (expense), net 213 1,069
Total revenues 75,945 158,754
Expenses    
Net loss and loss adjustment expenses incurred 75,697 122,865
Acquisition costs 31,739 21,526
General and administrative expenses 6,794 6,840
Interest expense 1,561 1,544
Total expenses 115,791 152,775
Income (loss) before income tax (39,846) 5,979
Income tax (expense) benefit (424) (73)
Net income (loss) $ (40,270) $ 5,906
Earnings (loss) per share    
Basic (in dollars per share) $ (1.11) $ 0.16
Diluted (in dollars per share) $ (1.11) $ 0.16
Weighted average number of ordinary shares used in the determination of earnings and loss per share    
Basic (in shares) 36,138,245 35,972,665
Diluted (in shares) 36,138,245 36,364,358