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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue        
Gross written premiums $ 23,042 $ 17,248 $ 66,203 $ 47,868
Ceded earned premiums (5,159) (2,677) (18,712) (6,665)
Net earned premiums 17,883 14,571 47,491 41,203
Investment income 505 321 1,460 823
Net realized investment gains 6 94 238 266
Deconsolidation of affiliate 104   104  
Other income 523 387 1,492 1,424
Total revenue 19,021 15,373 50,785 43,716
Expenses        
Loss and loss adjustment expenses, net 9,813 10,215 27,359 30,477
Policy acquisition costs 4,605 3,738 9,839 10,488
Operating expenses 3,325 3,433 10,636 9,540
Interest expense 181 108 664 360
Total expenses 17,924 17,494 48,498 50,865
Income (loss) before income taxes 1,097 (2,121) $ 2,287 (7,149)
Income tax expense (48) 131 (178)
Net income (loss) 1,145 (2,252) $ 2,287 (6,971)
Less net (loss) income attributable to noncontrolling interest (181) (18) (81) 28
Total impact to net income (loss) 1,326 (2,234) 2,368 (6,999)
Net income (loss) allocable to common shareholders $ 1,212 $ (2,250) $ 1,828 $ (7,042)
Earnings (loss) per share allocable to common, basic and diluted (in dollars per share) $ 0.21 $ (0.89) $ 0.40 $ (3.02)
Weighted average common shares, basic and diluted* (in shares) [1] 5,701,794 2,514,229 4,603,451 2,335,315
[1] The nonvested shares of the restricted stock units were anti-dilutive as of September 30, 2015. Therefore, the basic and and diluted weighted average common shares are equal as of September 30, 2015.