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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Net earned premiums $ 182,831 $ 141,726
Commission and fee income 1,492 230
Net investment income 4,646 15,149
Net investment gains (losses) 961 (4,438)
Total revenues 189,930 152,667
Expenses:    
Losses and loss adjustment expenses 114,900 89,989
Underwriting, acquisition and insurance expenses 51,655 40,534
Interest expense 2,152 1,177
Amortization expense 387 387
Other expenses 1,114 0
Total expenses 170,208 132,087
Income before income taxes 19,722 20,580
Income tax expense 4,166 4,269
Net income 15,556 16,311
Net income attributable to participating securities 1,274 7,823
Net income attributable to common shareholders 14,282 8,488
Comprehensive income (loss):    
Net income 15,556 16,311
Unrealized gains and losses on investments:    
Net change in unrealized gains (losses) on investments, net of tax 7,788 (16,705)
Reclassification adjustment for (losses) gains on securities no longer held, net of tax (47) 301
Total other comprehensive income (loss) 7,741 (16,404)
Comprehensive income (loss) $ 23,297 $ (93)
Per share data:    
Basic earnings per share (in dollar per share) $ 0.43 $ 0.52
Diluted earnings per share (in dollar per share) $ 0.42 $ 0.50
Weighted-average common shares outstanding    
Basic (in shares) 32,848,243 16,376,720
Diluted (in shares) 36,952,073 32,412,307