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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Gross premiums written $ 4,982 $ 2,117 $ 16,716 $ (559,022)
Net premiums written 4,090 (409) 14,462 (561,939)
Change in unearned premiums 17,218 134,395 38,061 879,027
Net premiums earned 21,308 133,986 52,523 317,088
Other insurance revenue 250 754 658 1,566
Net investment income 14,309 31,122 32,273 63,144
Net realized gains on investment 8,875 24,086 19,913 12,985
Total other-than-temporary impairment losses 0 0 (1,506) 0
Total revenues 44,742 189,948 103,861 394,783
Expenses        
Net loss and loss adjustment expenses 11,008 121,561 32,094 274,250
Commission and other acquisition expenses 8,154 49,656 20,127 119,273
General and administrative expenses 9,261 12,158 17,811 28,777
Interest and amortization expenses 4,830 4,830 9,661 9,659
Foreign exchange and other losses (gains) 2,295 (1,207) (5,902) (6,186)
Total expenses 35,548 186,998 73,791 425,773
Income (loss) from continuing operations before income taxes 9,194 2,950 30,070 (30,990)
Less: income tax benefit (18) (1,026) (3) (1,064)
Income (loss) from continuing operations 9,212 3,976 30,073 (29,926)
Loss from discontinued operations, net of income tax 0 (19,389) 0 (22,123)
Net income (loss) $ 9,212 $ (15,413) $ 30,073 $ (52,049)
Basic and diluted earnings (loss) from continuing operations per share attributable to common shareholders (in dollars per share) $ 0.11 $ 0.04 $ 0.35 $ (0.36)
Basic and diluted loss from discontinued operations per share attributable to common shareholders (in dollars per share) 0 (0.23) 0 (0.27)
Basic and diluted earnings (loss) per share attributable to common shareholders (in dollars per share) $ 0.11 $ (0.19) $ 0.35 $ (0.63)
Weighted average number of common shares – basic (in shares) 84,537,385 83,058,123 83,896,804 83,008,888
Adjusted weighted average number of common shares and assumed conversions - diluted (in shares) 84,537,385 83,075,156 83,896,804 83,008,888