SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

Restricted Cash and Cash Equivalents

The Company maintains cash and cash equivalent balances to collateralize regulatory trusts and letters of credit issued to cedents (see Note 11). The following table reconciles the cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the total presented in the condensed consolidated statements of cash flows:

	September 30, 2020		December 31, 2019
	($ in thousands)
Cash and cash equivalents	$	8,159	$	25,813
Restricted cash and cash equivalents	723,107		742,093
Total cash, cash equivalents and restricted cash presented in the condensed consolidated statements of cash flows	$	731,266	$	767,906

Restrictions on Cash and Cash Equivalents

Restricted Cash and Cash Equivalents

The Company maintains cash and cash equivalent balances to collateralize regulatory trusts and letters of credit issued to cedents (see Note 11). The following table reconciles the cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the total presented in the condensed consolidated statements of cash flows:

	September 30, 2020		December 31, 2019
	($ in thousands)
Cash and cash equivalents	$	8,159	$	25,813
Restricted cash and cash equivalents	723,107		742,093
Total cash, cash equivalents and restricted cash presented in the condensed consolidated statements of cash flows	$	731,266	$	767,906

Financing Receivable, Allowance for Credit Loss

The following table provides a roll-forward of the Company’s allowance for credit losses on notes receivable:

	Nine months ended September 30
	2020		2019
	($ in thousands)
Balance at beginning of period	$	15,000	$	9,012
Cumulative effect of adoption of ASU 2016-13 at January 1, 2020	750		—
Charge offs	(15,000)		—
Net increase (decrease) in allowance	250		—
Balance at end of period	$	1,000	$	9,012

Schedule of Interest Income and Interest Expense

For the three and nine months ended September 30, 2020 and 2019, the interest income/(expense) on deposit accounted contracts was as follows:

	Three months ended September 30				Nine months ended September 30
	2020		2019		2020		2019
	($ in thousands)				($ in thousands)
Deposit interest income	$	560	$	1,023	$	1,812	$	2,493
Deposit interest expense	$	—	$	(656)	$	—	$	(135)
Deposit interest income/(expense), net	$	560	$	367	$	1,812	$	2,358

Schedule of Weighted Average Number of Shares

The table below presents the shares outstanding for the purposes of the calculation of earnings (loss) per share for the three and nine months ended September 30, 2020 and 2019:

	Three months ended September 30		Nine months ended September 30
	2020	2019	2020	2019
Weighted average shares outstanding - basic	35,677,554	36,841,623	35,569,292	36,646,515
Effect of dilutive employee and director share-based awards	102,149	79,867	—	74,035
Weighted average shares outstanding - diluted	35,779,703	36,921,490	35,569,292	36,720,550
Anti-dilutive stock options outstanding	835,627	875,627	835,627	875,627
Participating securities excluded from calculation of loss per share	—	—	878,498	—