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Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues:    
Gross written premiums $ 71,494 $ 54,031
Ceded written premiums (29,495) (26,106)
Net written premiums 41,999 27,925
Change in unearned premiums (7,193) (9,575)
Net earned premiums 34,806 18,350
Net investment income 2,035 960
Net realized and unrealized gains on investments 440 2,411
Commission and other income 738 586
Total revenues 38,019 22,307
Expenses:    
Losses and loss adjustment expenses 1,863 316
Acquisition expenses 13,046 6,975
Other underwriting expenses (includes stock-based compensation of $442 and $22,961 for the three months ended March 31, 2020 and 2019, respectively) 7,951 28,853
Interest expense   429
Total expenses 22,860 36,573
Income (loss) before income taxes 15,159 (14,266)
Income tax expense 3,384 145
Net income 11,775 (14,411)
Other comprehensive income, net:    
Net unrealized gains (losses) on securities available for sale for the three months ended March 31, 2020 and 2019, respectively (5,833) 2,187
Net comprehensive income (loss) $ 5,942 $ (12,224)
Per Share Data:    
Basic earnings per share $ 0.49 $ (0.85)
Diluted earnings per share $ 0.48 $ (0.85)
Weighted-average common shares outstanding:    
Weighted-average common shares outstanding, basic 24,119,263 17,000,000
Weighted-average common shares outstanding, diluted 24,778,608 17,000,000