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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUE:        
Gross premiums written $ 352,347 $ 210,756 $ 521,189 $ 346,712
Decrease in gross unearned premiums (90,763) (46,171) (77,540) (35,625)
Gross premiums earned 261,584 164,585 443,649 311,087
Ceded premiums earned (101,966) (50,406) (176,848) (95,538)
Net premiums earned 159,618 114,179 266,801 215,549
Investment income 4,637 2,727 7,588 5,123
Net realized gains (losses) (132) 102 (483) 372
Other revenue 13,950 3,913 26,800 7,438
Total revenue 178,073 120,921 300,706 228,482
EXPENSES:        
Losses and loss adjustment expenses 86,938 62,611 150,271 126,869
Policy acquisition costs 43,320 25,721 78,756 52,753
Operating expenses 6,257 5,814 12,129 9,768
General and administrative expenses 28,176 11,497 39,509 19,430
Interest expense 752 116 1,511 191
Total expenses 165,443 105,759 282,176 209,011
Income before other income 12,630 15,162 18,530 19,471
Other income 20 48 58 69
Income before income taxes 12,650 15,210 18,588 19,540
Provision for income taxes 5,393 5,369 7,432 6,748
Net income 7,257 9,841 11,156 12,792
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains (losses) on investments 4,106 7,420 7,837 13,800
Reclassification adjustment for net realized investment (gains) losses 132 (102) 483 (372)
Income tax benefit (expense) related to items of other comprehensive income (1,615) (2,713) (3,157) (5,074)
Total comprehensive income $ 9,880 $ 14,446 $ 16,319 $ 21,146
Weighted-average shares outstanding        
Weighted-average shares outstanding (in shares) 41,799,041 21,423,739 31,691,267 21,385,220
Weighted-average diluted shares (in shares) 42,028,013 21,631,077 31,914,559 21,584,287
Earnings Per Share        
Basic earnings per share (in usd per share) $ 0.17 $ 0.46 $ 0.35 $ 0.60
Diluted earnings per share (in usd per share) 0.17 0.45 0.35 0.59
Dividends declared per share (in usd per share) $ 0.06 $ 0.06 $ 0.12 $ 0.11