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Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Gross written premiums $ 311,852 $ 388,228 $ 897,332 $ 1,095,565
Ceded written premiums (166,693) (164,359) (451,762) (424,045)
Net written premiums 145,159 223,869 445,570 671,520
Change in net unearned premiums 7,803 (10,495) 2,125 (68,880)
Net earned premiums 152,962 213,374 447,695 602,640
Net investment income 14,959 17,878 51,145 54,844
Net realized and unrealized gains (losses) on investments 8,929 (2,357) (27,885) 331
Other income 615 2,579 3,543 8,160
Total revenues 177,465 231,474 474,498 665,975
Expenses        
Losses and loss adjustment expenses 106,155 214,084 301,757 501,064
Other operating expenses 38,224 41,692 133,242 132,287
Other expenses 60 372 1,792 1,055
Interest expense 2,129 2,594 7,970 8,086
Amortization of intangible assets 149 149 447 447
Total expenses 146,717 258,891 445,208 642,939
Income (loss) before taxes 30,748 (27,417) 29,290 23,036
Income tax expense (benefit) 4,465 (2,250) 4,208 5,168
Net income (loss) 26,283 (25,167) 25,082 17,868
Other comprehensive income:        
Net unrealized gains, net of taxes of $849 and $6,384 in 2020 and $638 and $3,949 in 2019 5,039 9,457 47,433 50,449
Total comprehensive income (loss) $ 31,322 $ (15,710) $ 72,515 $ 68,317
Per share data:        
Basic earnings per share (in dollars per share) $ 0.86 $ (0.83) $ 0.82 $ 0.59
Diluted earnings per share (in dollars per share) 0.85 (0.83) 0.81 0.58
Dividend declared per share (in dollars per share) $ 0.30 $ 0.30 $ 0.90 $ 0.90
Weighted-average common shares outstanding:        
Basic (in shares) 30,582,540 30,382,105 30,529,557 30,230,490
Diluted (in shares) 30,946,843 30,382,105 30,838,595 30,659,389