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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue      
Gross premiums earned $ 765,512 $ 724,716 $ 577,044
Premiums ceded (269,627) (261,144) (199,741)
Net premiums earned 495,885 463,572 377,303
Net investment income 46,234 32,447 12,335
Net realized investment (losses) gains (1,996) (1,187) 6,472
Net unrealized investment gains (losses) 3,215 (7,153) 1,363
Policy fee income 4,704 4,279 3,995
Gain from remeasurement of contingent liabilities 0 3,117 0
Other 2,628 4,488 6,447
Total revenue 550,670 499,563 407,915
Expenses      
Losses and loss adjustment expenses 254,579 371,463 227,525
Policy acquisition and other underwriting expenses 90,822 104,977 93,732
General and administrative personnel expenses 53,868 56,511 45,428
Interest expense 11,117 7,768 6,400
Impairment loss 0 2,284 0
Debt conversion expense 0 0 1,754
Other operating expenses 22,634 24,978 21,843
Total expenses 433,020 567,981 396,682
Income before income taxes 117,650 (68,418) 11,233
Income tax expense (benefit) 28,393 (13,815) 3,991
Net income (loss) 89,257 (54,603) 7,242
Net income attributable to redeemable noncontrolling interest (Note 21) (9,370) (9,106) (7,399)
Net (income) loss attributable to noncontrolling interests (853) 5,198 2,013
Net income (loss) after noncontrolling interests $ 79,034 $ (58,511) $ 1,856
Basic earnings (loss) per share $ 9.13 $ (6.24) $ 0.23
Diluted earnings (loss) per share $ 7.62 $ (6.24) $ 0.21