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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue and Other Income        
Gross earned premiums $ 34,401 $ 31,770 $ 100,947 $ 90,245
Ceded earned premiums (9,443) (6,829) (27,458) (17,631)
Net earned premiums 24,958 24,941 73,489 72,614
Net investment income 860 514 1,931 1,549
Net realized investment gains (losses)   (101) (1,505) 3,883
Change in fair value of equity securities (151) (2,169) 446 (3,234)
Other gains (losses) 66 2,778 60 11,688
Other income 603 752 1,964 1,974
Total revenue and other income 26,336 26,715 76,385 88,474
Expenses        
Losses and loss adjustment expenses, net 16,671 16,159 56,940 53,447
Policy acquisition costs 6,230 7,173 17,419 20,819
Operating expenses 4,380 4,077 13,010 12,768
Interest expense 778 701 2,216 2,154
Total expenses 28,059 28,110 89,585 89,188
Income (loss) before equity earnings in Affiliate and income taxes (1,723) (1,395) (13,200) (714)
Equity earnings in Affiliate, net of tax 199 184 368 612
Income tax expense (benefit) (1) (2) (40) 191
Net income (loss) $ (1,523) $ (1,209) $ (12,792) $ (293)
Earnings (loss) per common share, basic $ (0.14) $ (0.12) $ (1.26) $ (0.03)
Earnings (loss) per common share, diluted $ (0.14) $ (0.12) $ (1.26) $ (0.03)
Weighted average common shares outstanding, basic [1] 11,101,194 9,692,150 10,178,975 9,686,874
Weighted average common shares outstanding, diluted [1] 11,101,194 9,692,150 10,178,975 9,686,874
[1] The non-vested shares of the restricted stock units and stock options were anti-dilutive as of September 30, 2022 and 2021.  Therefore, the basic and diluted weighted average common shares are equal for the three months and nine months ended September 30, 2022 and 2021