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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Gross premiums written $ 11,734 $ (561,139)
Net premiums written 10,372 (561,530)
Change in unearned premiums 20,843 744,632
Net premiums earned 31,215 183,102
Other insurance revenue 408 812
Net investment income 17,964 32,022
Net realized gains (losses) on investment 11,038 (11,101)
Total other-than-temporary impairment losses (1,506) 0
Total revenues 59,119 204,835
Expenses    
Net loss and loss adjustment expenses 21,086 152,689
Commission and other acquisition expenses 11,973 69,617
General and administrative expenses 8,550 16,619
Interest and amortization expenses 4,831 4,829
Foreign exchange and other gains (8,197) (4,979)
Total expenses 38,243 238,775
Income (loss) from continuing operations before income taxes 20,876 (33,940)
Less: income tax expense (benefit) 15 (38)
Net income (loss) from continuing operations 20,861 (33,902)
Loss from discontinued operations, net of income tax 0 (2,734)
Net income (loss) $ 20,861 $ (36,636)
Basic and diluted earnings (loss) from continuing operations per share attributable to common shareholders (in dollars per share) $ 0.25 $ (0.41)
Basic and diluted loss from discontinued operations per share attributable to common shareholders (in dollars per share) 0 (0.03)
Basic and diluted earnings (loss) per share attributable to common shareholders (in dollars per share) $ 0.25 $ (0.44)
Weighted average number of common shares – basic and diluted (in shares) 83,256,223 82,965,156