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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Gross written premiums $ 97,984 $ 69,546 $ 277,557 $ 203,374
Ceded written premiums (11,232) (11,602) (35,051) (29,448)
Net written premiums 86,752 57,944 242,506 173,926
Change in unearned premiums (14,131) (3,648) (42,307) (20,676)
Net earned premiums 72,621 54,296 200,199 153,250
Net investment income 5,265 4,085 14,586 11,096
Net unrealized gains on equity securities 246 1,760 8,050 575
Realized gains (losses) on investments 185 (6) 230 280
Other income 10 2 19 9
Total revenues 78,327 60,137 223,084 165,210
Expenses:        
Losses and loss adjustment expenses 44,810 32,085 118,121 90,951
Underwriting, acquisition and insurance expenses 18,324 13,850 50,377 38,767
Other expenses 0 107 57 121
Total expenses 63,134 46,042 168,555 129,839
Income before income taxes 15,193 14,095 54,529 35,371
Total income tax expense 2,217 2,155 9,066 6,032
Net income 12,976 11,940 45,463 29,339
Other comprehensive income (loss):        
Change in unrealized gains (losses) on available-for-sale investments, net of taxes of $863 and $4,407 in 2019 and $(519) and $(2,080) in 2018 3,242 (1,953) 16,577 (7,825)
Total comprehensive income $ 16,218 $ 9,987 $ 62,040 $ 21,514
Earnings per share:        
Basic $ 0.60 $ 0.57 $ 2.13 $ 1.39
Diluted $ 0.58 $ 0.55 $ 2.07 $ 1.35
Weighted average shares outstanding:        
Basic 21,660 21,102 21,348 21,073
Diluted 22,277 21,721 21,965 21,671