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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Premiums    
Gross earned premiums $ 25,550 $ 27,724
Ceded earned premiums (3,863) (3,924)
Net earned premiums 21,687 23,800
Net investment income 910 802
Net realized investment gains 19 161
Change in fair value of equity securities 1,265 (297)
Other income 422 357
Total revenue 24,303 24,823
Expenses    
Losses and loss adjustment expenses, net 14,456 13,328
Policy acquisition costs 5,589 6,513
Operating expenses 4,323 4,187
Interest expense 710 619
Total expenses 25,078 24,647
Income (loss) before equity earnings of affiliates and income taxes (775) 176
Equity earnings of affiliates, net of tax 106 55
Income tax expense 11 18
Net income (loss) $ (680) $ 213
Earnings (loss) per per common share, basic and diluted (in dollars per share) $ (0.08) $ 0.02
Weighted average common shares outstanding, basic and diluted (in shares) 8,453,570 8,520,328