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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Gross written premiums $ 1,141,558 $ 881,868 $ 535,175
Ceded written premiums (731,531) (524,575) (223,443)
Net written premiums 410,027 357,293 311,732
Change in unearned premiums (64,114) (40,827) (77,906)
Net earned premiums 345,913 316,466 233,826
Net investment income 23,705 13,877 9,080
Net realized and unrealized gains (losses) on investments 2,941 (7,529) 1,277
Commission and other income 3,367 4,272 3,608
Total revenues 375,926 327,086 247,791
Expenses:      
Losses and loss adjustment expenses 72,592 78,672 41,457
Acquisition expenses, net of ceding commissions and fronting fees 107,745 110,771 95,433
Other underwriting expenses 88,172 69,219 53,723
Interest expense 3,775 873 40
Total expenses 272,284 259,535 190,653
Income before income taxes 103,642 67,551 57,138
Income tax expense 24,441 15,381 11,291
Net income 79,201 52,170 45,847
Other comprehensive income, net:      
Net unrealized gains (losses) on securities available for sale 12,524 (41,827) (7,934)
Total comprehensive income $ 91,725 $ 10,343 $ 37,913
Per Share Data:      
Basic earnings per share (in dollars per share) $ 3.19 $ 2.07 $ 1.8
Diluted earnings per share (in dollars per share) $ 3.13 $ 2.02 $ 1.76
Weighted-average common shares outstanding:      
Basic (in shares) 24,822,004 25,243,397 25,459,514
Diluted (in shares) 25,327,091 25,796,008 26,111,904