Underwriting Information

9 Months Ended

12 Months Ended

Sep. 30, 2019

Dec. 31, 2018

12. Underwriting information

The Company has a single reportable segment and offers primarily earthquake, wind, and flood insurance products. Gross written premiums (GWP) by product are presented below:


	Three Months Ended September 30,								Nine Months Ended September 30,
	2019				2018				2019				2018
	($ in thousands)								($ in thousands)
			% of				% of				% of				% of
	Amount		GWP		Amount		GWP		Amount		GWP		Amount		GWP
Product
Residential Earthquake	$	35,711	53.9	%	$	21,483	53.7	%	$	95,005	53.2	%	$	58,106	52.2	%
Specialty Homeowners		8,572	12.9	%		7,116	17.8	%		24,994	14.0	%		21,331	13.4	%
Commercial Earthquake		8,402	12.7	%		4,856	12.1	%		23,020	12.9	%		14,936	19.1	%
Commercial All Risk		7,077	10.7	%		3,392	8.5	%		21,929	12.3	%		9,442	8.5	%
Hawaii Hurricane		3,299	5.0	%		2,614	6.5	%		8,048	4.5	%		6,130	5.5	%
Flood		1,450	2.2	%		533	1.4	%		3,494	2.0	%		1,403	1.3	%
Other		1,731	2.6	%		—	—	%		2,129	1.1	%		—	—	%
Total Gross Written Premiums	$	66,242	100.0	%	$	39,994	100.0	%	$	178,619	100.0	%	$	111,348	100.0	%

Gross written premiums by state are as follows:


	Three Months Ended September 30,								Nine Months Ended September 30,
	2019				2018				2019				2018
	($ in thousands)								($ in thousands)
			% of				% of				% of				% of
	Amount		GWP		Amount		GWP		Amount		GWP		Amount		GWP
State
California	$	36,789	55.5	%	$	20,785	52.0	%	$	99,543	55.7	%	$	58,211	52.2	%
Texas		11,239	17.0	%		8,318	20.8	%		32,678	18.3	%		24,164	21.7	%
Hawaii		3,675	5.5	%		2,614	6.5	%		8,688	4.9	%		6,130	5.5	%
Washington		2,910	4.4	%		1,731	4.3	%		6,430	3.6	%		3,798	3.4	%
Oregon		2,153	3.3	%		1,506	3.8	%		5,279	3.0	%		3,901	3.5	%
Mississippi		1,315	2.0	%		629	1.6	%		3,383	1.9	%		1,766	1.6	%
Illinois		1,269	1.9	%		1,104	2.8	%		3,524	2.0	%		3,285	3.0	%
South Carolina		1,258	1.9	%		690	1.7	%		4,614	2.5	%		2,336	2.1	%
Other		5,634	8.5	%		2,617	6.5	%		14,480	8.1	%		7,757	7.0	%
Total Gross Written Premiums	$	66,242	100.0	%	$	39,994	100.0	%	$	178,619	100.0	%	$	111,348	100.0	%

19. Underwriting Information

The Company has a single reportable segment and offers primarily earthquake, wind, and flood insurance products. Gross written premiums (GWP) by product are presented below:


	Years ended December 31,
	2018				2017				2016
	($ in thousands)
	Amount		% of GWP		Amount		% of GWP		Amount		% of GWP
Product
Residential Earthquake	$	81,679	52.7	%	$	57,328	47.7	%	$	32,662	39.7	%
Specialty Homeowners		27,680	17.9	%		26,516	22.0	%		24,389	29.6	%
Commercial Earthquake		20,946	13.5	%		23,079	19.2	%		20,580	25.0	%
Commercial All Risk		14,338	9.3	%		7,321	6.1	%		1,784	2.2	%
Hawaii Hurricane		8,128	5.2	%		5,323	4.4	%		2,872	3.5	%
Flood		2,120	1.4	%		667	0.6	%		—	—
Total Gross Written Premium	$	154,891	100	%	$	120,234	100	%	$	82,287	100	%

Gross Written premiums by state are as follows:


	Years ended December 31,
	2018				2017				2016
	Amount		% of GWP		Amount		% of GWP		Amount		% GWP
	($ in thousands)
State
California	$	82,119	53.0	%	$	64,231	53.4	%	$	44,999	54.7	%
Texas		32,568	21.0	%		29,273	24.4	%		25,286	30.7	%
Hawaii		8,128	5.2	%		5,323	4.4	%		2,872	3.5	%
Illinois		4,403	2.8	%		4,854	4.0	%		332	0.4	%
Oregon		5,286	3.4	%		4,250	3.6	%		3,278	4.0	%
Washington		5,658	3.7	%		2,803	2.3	%		1,513	1.8	%
South Carolina		3,208	2.1	%		1,706	1.4	%		674	0.8	%
Oklahoma		1,261	0.8	%		1,302	1.1	%		1,030	1.3	%
All Other States		12,260	8.0	%		6,492	5.4	%		2,303	2.8	%
	$	154,891	100	%	$	120,234	100	%	$	82,287	100	%

The Company distributes a significant portion of its Residential Earthquake, Commercial Earthquake, Specialty Homeowners and Hawaii Hurricane products through longstanding relationships with two program administrators. Each of the four products managed by the program administrators operates as a separate program that is governed by an independent, separately negotiated agreement with unique terms and conditions, including geographic scope, key men provisions, economics and exclusivity. These programs also feature separate managerial oversight and leadership, policy administration systems and retail agents originating policies. In total, these four programs accounted for $104.9 million or 67.7% of the Company’s gross written premiums for the year ended December 31, 2018, $85.8 million or 71.3% of the Company’s gross written premiums for the year ended December 31, 2017, and $62.9 million or 76.5% of the Company’s gross written premiums for the year ended December 31, 2016.