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Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Gross written premiums $ 389,694 $ 275,538 $ 223,191
Ceded written premiums (47,633) (39,924) (33,719)
Net written premiums 342,061 235,614 189,472
Change in unearned premiums (59,080) (22,926) (13,419)
Net earned premiums 282,981 212,688 176,053
Net investment income 20,133 15,688 10,569
Change in fair value of equity securities 12,389 (6,555) 0
Net realized investment gains 359 281 151
Other income 26 12 3
Total revenues 315,888 222,114 186,776
Expenses:      
Losses and loss adjustment expenses 169,563 128,041 103,680
Underwriting, acquisition and insurance expenses 70,217 53,425 44,146
Other expenses 57 168 429
Total expenses 239,837 181,634 148,255
Income before income taxes 76,051 40,480 38,521
Income tax expense (benefit) 12,735 6,693 13,620
Net income 63,316 33,787 24,901
Other comprehensive income (loss):      
Change in unrealized gains (losses) on available-for-sale investments, net of taxes of $3,927 in 2019, $(1,453) in 2018, and $3,047 in 2017 14,774 (5,469) 6,384
Total comprehensive income $ 78,090 $ 28,318 $ 31,285
Earnings per share:      
Basic $ 2.94 $ 1.60 $ 1.19
Diluted $ 2.86 $ 1.56 $ 1.16
Weighted-average common shares outstanding:      
Basic 21,528 21,090 20,992
Diluted 22,136 21,685 21,498