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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue and Other Income        
Gross earned premiums $ 33,782 $ 30,228 $ 66,546 $ 58,475
Ceded earned premiums (9,206) (5,390) (18,015) (10,802)
Net earned premiums 24,576 24,838 48,531 47,673
Net investment income 564 503 1,071 1,035
Net realized investment gains (losses) (1,436) 1,060 (1,505) 3,984
Change in fair value of equity securities 317 (525) 597 (1,065)
Other gains (losses) (1) 8,910 (6) 8,910
Other income 663 666 1,361 1,222
Total revenue and other income 24,683 35,452 50,049 61,759
Expenses        
Losses and loss adjustment expenses, net 22,251 17,926 40,269 37,288
Policy acquisition costs 5,725 6,896 11,189 13,646
Operating expenses 4,470 4,342 8,630 8,691
Interest expense 727 732 1,438 1,453
Total expenses 33,173 29,896 61,526 61,078
Income (loss) before equity earnings in Affiliate and income taxes (8,490) 5,556 (11,477) 681
Equity earnings in Affiliate, net of tax 93 180 169 428
Income tax expense (benefit) 2 184 (39) 193
Net income (loss) $ (8,399) $ 5,552 $ (11,269) $ 916
Earnings (loss) per common share, basic $ (0.86) $ 0.57 $ (1.16) $ 0.09
Earnings (loss) per common share, diluted $ (0.86) $ 0.57 $ (1.16) $ 0.09
Weighted average common shares outstanding, basic [1] 9,712,602 9,686,631 9,710,223 9,684,193
Weighted average common shares outstanding, diluted [1] 9,712,602 9,686,631 9,710,223 9,684,193
[1] The non-vested shares of the restricted stock units and stock options were anti-dilutive as of June 30, 2022 and 2021.  Therefore, the basic and diluted weighted average common shares are equal for the three months and six months ended June 30, 2022 and 2021