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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUE:        
Gross premiums written $ 365,819 $ 317,184 $ 1,140,653 $ 1,085,505
Change in gross unearned premiums (11,828) 27,499 (97,904) (98,984)
Gross premiums earned 353,991 344,683 1,042,749 986,521
Ceded premiums earned (165,250) (151,763) (476,930) (422,475)
Net premiums earned 188,741 192,920 565,819 564,046
Investment Income, Net 6,010 7,803 18,834 22,668
Net realized gains (losses) 24,968 18 24,959 186
Unrealized Gain (Loss) on Securities (11,552) 2,609 (17,456) 15,519
Other revenue 4,566 4,248 13,278 12,276
Total revenue 212,733 207,598 605,434 614,695
EXPENSES:        
Losses and loss adjustment expenses 218,652 148,125 423,182 368,924
Policy acquisition costs 58,735 61,849 170,183 178,717
Operating Costs and Expenses 14,483 12,167 38,164 33,577
General and administrative expenses 19,224 19,105 53,646 53,488
Interest expense 2,210 2,443 7,194 7,379
Total expenses 313,304 243,689 692,369 642,085
Income (loss) before other income (100,571) (36,091) (86,935) (27,390)
Other income 18 17 60 44
Income (loss) before income taxes (100,553) (36,074) (86,875) (27,346)
Provision for income taxes (26,685) (7,859) (24,933) (5,912)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest (73,868) (28,215) (61,942) (21,434)
Net Income (Loss) Attributable to Noncontrolling Interest 204 65 579 280
Net income (loss) (74,072) (28,280) (62,521) (21,714)
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains (losses) on investments 27,884 5,606 52,106 30,561
Reclassification adjustment for net realized investment (gains) losses (24,968) (18) (24,959) (186)
Income tax benefit (expense) related to items of other comprehensive income (707) (1,486) (6,582) (7,374)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest (71,659) (24,113) (41,377) 1,567
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 208 101 731 537
Total comprehensive income $ (71,867) $ (24,214) $ (42,108) $ 1,030
Weighted-average shares outstanding        
Weighted-average shares outstanding 42,893,205 42,795,414 42,853,364 42,750,710
Weighted-average diluted shares 42,893,205 42,795,414 42,853,364 42,750,710
Earnings Per Share        
Basic earnings per share $ (1.73) $ (0.66) $ (1.46) $ (0.51)
Diluted earnings per share $ (1.73) $ (0.66) $ (1.46) $ (0.51)