Unaudited Consolidated Statements of Income (Loss) - USD ($)		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Revenues
Gross premiums written		$ 234,902,000	$ 186,689,000
Gross premiums ceded		(48,202,000)	(41,302,000)
Net		186,700,000	145,387,000
Change in unearned premiums		(46,661,000)	707,000
Net premiums earned		140,039,000	146,094,000
Other underwriting income (loss)		133,000	592,000
Interest income		37,824,000	43,141,000
Investment management fees - related parties		(4,352,000)	(4,409,000)
Borrowing and miscellaneous other investment expenses		(5,669,000)	(8,298,000)
Net interest income		27,803,000	30,434,000
Realized and unrealized gains (losses) on investments		(290,502,000)	33,720,000
Investment performance fees - related parties		0	(5,800,000)
Net investment income (loss)		(262,699,000)	58,354,000
Total revenues		(122,527,000)	205,040,000
Expenses
Loss and loss adjustment expenses		(110,676,000)	(110,850,000)
Acquisition expenses		(28,367,000)	(33,974,000)
General and administrative expenses		(7,139,000)	(7,240,000)
Interest expense		(2,912,000)	0
Net foreign exchange gains (losses)		5,013,000	(437,000)
Total expenses		(144,081,000)	(152,501,000)
Income (loss) before income taxes		(266,608,000)	52,539,000
Income tax expense		0	0
Net income (loss) before preference dividends		(266,608,000)	52,539,000
Preference dividends		(1,171,000)	(4,907,000)
Net income (loss) available to common shareholders		$ (267,779,000)	$ 47,632,000
Earnings (loss) per common share:
Earnings (loss) per share, basic and diluted		$ (13.42)	$ 2.10
Weighted average common shares outstanding - basic and diluted	[1]	19,951,932	22,682,875

[1] Warrants held by Arch and HPS were not included in the computation of diluted earnings because the exercise price of the warrants exceeded the market price of the common shares during the period and the exercise of the warrants would have been anti-dilutive. The warrants expired on March 25, 2020. The number of common shares issuable upon exercise of the warrants that was excluded was 1,704,691 common shares.