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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Gross written premiums $ 94,947 $ 69,981 $ 179,573 $ 133,828
Ceded written premiums (12,260) (9,090) (23,819) (17,846)
Net written premiums 82,687 60,891 155,754 115,982
Change in unearned premiums (16,600) (9,998) (28,176) (17,028)
Net earned premiums 66,087 50,893 127,578 98,954
Net investment income 4,806 3,782 9,321 7,011
Net unrealized gains (losses) on equity securities 1,909 94 7,804 (1,185)
Realized gains on investments (235) 174 45 286
Other income 5 4 9 7
Total revenues 72,572 54,947 144,757 105,073
Expenses:        
Losses and loss adjustment expenses 39,579 29,967 73,311 58,866
Underwriting, acquisition and insurance expenses 16,437 12,519 32,053 24,917
Other expenses 21 0 57 14
Total expenses 56,037 42,486 105,421 83,797
Income before income taxes 16,535 12,461 39,336 21,276
Total income tax expense 2,768 2,349 6,849 3,877
Net income 13,767 10,112 32,487 17,399
Other comprehensive income (loss):        
Change in unrealized gains (losses) on available-for-sale investments, net of taxes of $1,743 and $3,544 in 2019 and $(270) and $(1,561) in 2018 6,555 (1,016) 13,335 (5,872)
Total comprehensive income $ 20,322 $ 9,096 $ 45,822 $ 11,527
Earnings per share:        
Basic $ 0.65 $ 0.48 $ 1.53 $ 0.83
Diluted $ 0.63 $ 0.47 $ 1.49 $ 0.80
Weighted average shares outstanding        
Basic 21,210 21,070 21,190 21,058
Diluted 21,832 21,666 21,803 21,648