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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:              
Gross written premiums $ 66,242 $ 39,994 $ 178,619 $ 111,348 $ 154,891 $ 120,234 $ 82,287
Ceded written premiums (28,060) (20,764) (78,797) (61,200) (82,949) (46,951) (29,636)
Net written premiums 38,182 19,230 99,822 50,148 71,942 73,283 52,651
Change in unearned premiums (10,520) (3,194) (30,602) 2,132 (2,045) (17,738) (12,329)
Net earned premiums 27,662 16,036 69,220 52,280 69,897 55,545 40,322
Net investment income 1,729 865 4,172 2,211 3,238 2,125 1,615
Net realized and unrealized gains on investments 361 1,336 3,265 969 (2,569) 608 499
Commission and other income 709 679 2,017 1,869 2,405 1,188 260
Total revenues 30,461 18,916 78,674 57,329 72,971 59,466 42,696
Expenses:              
Losses and loss adjustment expenses 2,439 5,374 3,398 7,043 6,274 12,125 7,292
Acquisition expenses 10,243 6,392 26,189 21,632 28,224 25,522 17,340
Other underwriting expenses (includes stock-based compensation of $410 and $0 for the three months ended September 30, 2019 and 2018, respectively and $23,677 and $0 for the nine months ended September 30, 2019 and 2018, respectively) 8,330 4,976 44,348 13,119 17,957 15,146 10,153
Interest expense   605 1,068 1,444 2,303 1,745 1,634
Total expenses 21,012 17,347 75,003 43,238 54,758 54,538 36,419
Income before income taxes 9,449 1,569 3,671 14,091 18,213 4,928 6,277
Income tax expense (benefit) 1,995 3 3,929 (1) (6) 1,145 (337)
Net income (loss) 7,454 1,566 (258) 14,092 18,219 3,783 6,614
Other comprehensive income, net:              
Net unrealized gains (losses) on securities available for sale for the three and nine months ended September 30, 2019 and 2018, respectively 974 (309) 6,459 (1,299) (341) 1,522 1,475
Net comprehensive income $ 8,428 $ 1,257 $ 6,201 $ 12,793 $ 17,878 $ 5,305 $ 8,089
Per Share Data:              
Basic earnings per share $ 0.32 $ 0.09 $ (0.01) $ 0.83      
Diluted earnings per share $ 0.31 $ 0.09 $ (0.01) $ 0.83      
Earnings per share, basic and diluted         $ 1.07 $ 0.22 $ 0.39
Weighted-average common shares outstanding:              
Weighted-average common shares outstanding, basic and diluted         17,000,000 17,000,000 17,000,000
Weighted-average common shares outstanding, basic 23,468,750 17,000,000 20,838,599 17,000,000      
Weighted-average common shares outstanding, diluted 23,885,137 17,000,000 20,838,599 17,000,000