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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue and Other Income        
Gross earned premiums $ 23,278 $ 38,150 $ 86,891 $ 108,457
Ceded earned premiums (8,677) (14,171) (38,737) (39,343)
Net earned premiums 14,601 23,979 48,154 69,114
Net investment income 1,391 1,439 4,411 4,036
Net realized investment gains (losses) (7) 0 (125) 0
Change in fair value of equity securities (29) (87) (182) 595
Other income 61 109 287 408
Total revenue and other income 16,017 25,440 52,545 74,153
Expenses        
Losses and loss adjustment expenses, net 15,152 20,911 40,953 53,943
Policy acquisition costs 3,249 4,400 9,800 13,405
Operating expenses 3,594 4,093 8,666 12,769
Interest expense 2,275 855 4,021 2,361
Total expenses 24,270 30,259 63,440 82,478
Income (loss) from continuing operations before income taxes (8,253) (4,819) (10,895) (8,325)
Income tax expense (benefit) (1,367) (457) (1,851) (464)
Net income (loss) from continuing operations (6,886) (4,362) (9,044) (7,861)
Net income from discontinued operations 60,176 1,656 58,773 1,417
Net income (loss) 53,290 (2,706) 49,729 (6,444)
Preferred stock dividends 502 0 817 0
Net income (loss) allocable to common shareholders $ 52,788 $ (2,706) $ 48,912 $ (6,444)
Earnings (loss) per common share, basic and diluted        
Net income (loss) from continuing operations, basic $ (0.6) $ (0.36) $ (0.81) $ (0.64)
Net income (loss) from continuing operations, diluted (0.6) (0.36) (0.81) (0.64)
Net income from discontinued operations, basic 4.92 0.14 4.81 0.12
Net income from discontinued operations, diluted 4.92 0.14 4.81 0.12
Net income (loss) allocable to common shareholders, basic 4.32 (0.22) 4 (0.53)
Net income (loss) allocable to common shareholders, diluted $ 4.32 $ (0.22) $ 4 $ (0.53)
Weighted average common shares outstanding, basic 12,222,881 12,222,881 12,222,881 12,219,713
Weighted average common shares outstanding, diluted 12,222,881 12,222,881 12,222,881 12,219,713