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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue        
Gross premiums earned $ 181,124 $ 139,440 $ 360,049 $ 270,382
Premiums ceded (56,205) (46,436) (109,367) (89,535)
Net premiums earned 124,919 93,004 250,682 180,847
Net investment income 3,684 2,635 6,552 7,229
Net realized investment (losses) gains (6) 2,607 (320) 3,720
Net unrealized investment (losses) gains (4,234) 1,489 (7,810) 1,220
Policy fee income 1,052 992 2,109 1,962
Other 511 777 1,753 1,400
Total revenue 125,926 101,504 252,966 196,378
Expenses        
Losses and loss adjustment expenses 86,830 55,917 159,534 101,668
Policy acquisition and other underwriting expenses 26,863 23,169 56,271 46,234
General and administrative personnel expenses 15,301 10,546 29,335 20,196
Interest expense 1,515 2,000 2,116 4,079
Other operating expenses 6,977 4,775 13,269 9,002
Total expenses 137,486 96,407 260,525 181,179
(Loss) income before income taxes (11,560) 5,097 (7,559) 15,199
Income tax (benefit) expense (3,018) 1,267 (1,808) 4,524
Net (loss) income (8,542) 3,830 (5,751) 10,675
Net income attributable to redeemable noncontrolling interest (Note 17) (2,268) (2,179) (4,516) (2,973)
Net loss attributable to noncontrolling interests 829 266 1,189 363
Net (loss) income after noncontrolling interests $ (9,981) $ 1,917 $ (9,078) $ 8,065
Basic (loss) earnings per share $ (1.04) $ 0.25 $ (0.92) $ 1.02
Diluted (loss) earnings per share $ (1.04) $ 0.24 $ (0.92) $ 0.98