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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Investments:    
Fixed maturity securities available for sale, at fair value (amortized cost: $216,623 in 2019; $122,949 in 2018) $ 223,986 $ 122,220
Equity securities, at fair value (cost: $21,213 in 2019; $27,188 in 2018) 22,326 25,171
Total investments 246,312 147,391
Cash and cash equivalents 16,477 9,525
Restricted cash 425 399
Accrued investment income 1,363 734
Premium receivable 32,171 18,633
Deferred policy acquisition costs 21,653 14,052
Reinsurance recoverable on unpaid losses and loss adjustment expenses 14,052 11,896
Reinsurance recoverable on paid losses and loss adjustment expenses 3,700 2,666
Prepaid reinsurance premium 24,711 18,284
Prepaid expenses and other assets 10,365 5,863
Property and equipment, net 860 947
Intangible assets 744 744
Total assets 372,833 231,134
Liabilities:    
Accounts payable and other accrued liabilities 15,530 9,245
Reserve for losses and loss adjustment expenses 16,966 16,061
Unearned premiums 116,159 79,130
Ceded premium payable 11,970 10,607
Funds held under reinsurance treaty 1,801 720
Income and excise taxes payable 133  
Deferred tax liabilities, net 1,812  
Long-term notes payable   19,079
Total liabilities 164,371 134,842
Shareholder’s equity:    
Preferred stock, $0.0001 par value, 5,000,000 and 0 shares authorized as of September 30, 2019 and December 31, 2018, respectively, 0 shares issued and outstanding as of September 30, 2019 and December 31, 2018
Common stock, $0.0001 par value, 500,000,000 shares authorized, 23,468,750 and 17,000,000 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively 2 2
Additional paid in capital 179,587 68,498
Accumulated other comprehensive income (loss) 5,896 (563)
Retained earnings 22,977 28,355
Total shareholder’s equity 208,462 96,292
Total liabilities and shareholder’s equity $ 372,833 $ 231,134