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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Gross premiums written $ 3,517 $ 35,844 $ 20,233 $ (523,178)
Net premiums written 3,031 35,944 17,493 (525,995)
Change in unearned premiums 21,274 58,954 59,335 937,981
Net premiums earned 24,305 94,898 76,828 411,986
Other insurance revenue 261 554 919 2,120
Net investment income 12,686 13,223 44,959 76,367
Net realized gains on investment 4,133 12,700 24,046 25,685
Total other-than-temporary impairment losses (962) (165) (2,468) (165)
Total revenues 40,423 121,210 144,284 515,993
Expenses        
Net loss and loss adjustment expenses 9,065 140,860 41,159 415,110
Commission and other acquisition expenses 9,651 32,763 29,778 152,036
General and administrative expenses 8,160 8,898 25,971 37,675
Interest and amortization expenses 4,832 4,831 14,493 14,490
Foreign exchange and other losses (gains) 6,536 (7,827) 634 (14,013)
Total expenses 38,244 179,525 112,035 605,298
Income (loss) from continuing operations before income taxes 2,179 (58,315) 32,249 (89,305)
Less: income tax expense (benefit) 17 87 14 (977)
Income (loss) from continuing operations 2,162 (58,402) 32,235 (88,328)
Income (loss) from discontinued operations, net of income tax 0 75 0 (22,048)
Net income (loss) $ 2,162 $ (58,327) $ 32,235 $ (110,376)
Basic and diluted earnings (loss) from continuing operations per share attributable to common shareholders (in dollars per share) $ 0.03 $ (0.70) $ 0.38 $ (1.06)
Basic and diluted loss from discontinued operations per share attributable to common shareholders (in dollars per share) 0 0 0 (0.27)
Basic and diluted earnings (loss) per share attributable to common shareholders (in dollars per share) $ 0.03 $ (0.70) $ 0.38 $ (1.33)
Weighted average number of common shares – basic and diluted (in shares) 84,744,787 83,092,085 84,181,528 83,036,925