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Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues    
Gross written premiums $ 359,936 $ 373,255
Ceded written premiums (184,077) (198,656)
Net written premiums 175,859 174,599
Change in net unearned premiums 13,965 (14,006)
Net earned premiums 189,824 160,593
Net investment income 16,267 15,089
Net realized and unrealized (losses) gains on investments (5,010) 6,272
Other income 867 1,026
Total revenues 201,948 182,980
Expenses    
Losses and loss adjustment expenses 135,608 273,500
Other operating expenses 50,061 47,381
Other expenses 368 621
Interest expense 2,292 2,216
Amortization of intangible assets 91 91
Total expenses 188,420 323,809
Income (loss) before taxes 13,528 (140,829)
Income tax expense (benefit) 3,323 (37,369)
Net income (loss) 10,205 (103,460)
Dividends on Series A preferred shares (875) 0
Net income (loss) available to common shareholders 9,330 (103,460)
Other comprehensive loss:    
Net unrealized losses, net of taxes of $(11,649) in 2022 and $(5,647) in 2021 (85,971) (42,688)
Total comprehensive loss $ (75,766) $ (146,148)
Net income (loss) per common share:    
Basic (in dollars per share) $ 0.25 $ (3.37)
Diluted (in dollars per share) 0.25 (3.37)
Dividend declared per common share (in dollars per share) $ 0.05 $ 0.30
Weighted-average common shares outstanding:    
Basic (in shares) 37,406,913 30,713,986
Diluted (in shares) 37,554,662 30,713,986