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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Premiums        
Gross earned premiums $ 27,318 $ 28,891 $ 82,899 $ 85,493
Ceded earned premiums (3,868) (11,232) (11,711) (19,198)
Net earned premiums 23,450 17,659 71,188 66,295
Net investment income 786 768 2,425 2,008
Net realized investment gains (losses) (21) 39 152 31
Change in fair value of equity securities 151 0 (116) 0
Other gains 0 0 0 750
Other income 405 477 1,212 1,203
Total revenue 24,771 18,943 74,861 70,287
Expenses        
Losses and loss adjustment expenses, net 16,554 26,468 44,950 58,875
Policy acquisition costs 6,452 6,655 19,437 19,555
Operating expenses 4,786 4,474 13,276 13,374
Interest expense 598 303 1,834 745
Total expenses 28,390 37,900 79,497 92,549
Income (loss) before equity earnings of affiliates and income taxes (3,619) (18,957) (4,636) (22,262)
Equity earnings of affiliates, net of tax 93 (76) 237 89
Income tax (benefit) expense 25 (135) 52 (410)
Net income (loss) $ (3,551) $ (18,898) $ (4,451) $ (21,763)
Earnings (loss) per per common share, basic and diluted (in dollars per share) $ (0.42) $ (2.46) $ (0.52) $ (2.85)
Weighted average common shares outstanding, basic and diluted (in shares) 8,553,613 7,675,952 8,531,545 7,647,520