Stockholders' Equity and Restrictions

9 Months Ended

Sep. 30, 2020

STOCKHOLDERS' EQUITY AND RESTRICTIONS

EARNINGS PER SHARE

The following tables set forth the computation of basic and diluted earnings (loss) per share.


Three Months Ended September 30,	2020		2019
(In thousands, except per share amounts)

Basic and diluted earnings (loss) per share:
Numerator:
Net income (loss)	$	(7,915)	2,046
Net income (loss) allocated to Class A common stock	$	(7,836)	2,026
Net income (loss) allocated to Class B common stock	(79)		20
Net income (loss)	$	(7,915)	2,046

Denominator:
Weighted average shares of Class A outstanding - basic	49,437		49,229
Weighted average shares of Class A outstanding - diluted	49,832		49,327
Weighted average shares of Class B outstanding - basic and diluted	1,002		1,002
Basic and diluted earnings (loss) per share of Class A common stock	$	(0.16)	0.04
Basic and diluted earnings (loss) per share of Class B common stock	(0.07)		0.02


Nine Months Ended September 30,	2020		2019
(In thousands, except per share amounts)
Basic and diluted earnings (loss) per share:
Numerator:
Net income (loss)	$	(12,526)	(6,321)
Net income (loss) allocated to Class A common stock	$	(12,401)	(6,257)
Net income (loss) allocated to Class B common stock	(125)		(64)
Net income (loss)	$	(12,526)	(6,321)

Denominator:
Weighted average shares of Class A outstanding - basic	49,365		49,229
Weighted average shares of Class A outstanding - diluted	49,760		49,327
Weighted average shares of Class B outstanding - basic and diluted	1,002		1,002
Basic and diluted earnings (loss) per share of Class A common stock	$	(0.25)	(0.13)
Basic and diluted earnings (loss) per share of Class B common stock	(0.12)		(0.06)

CAPITAL AND SURPLUS

Each of our regulated insurance subsidiaries is required to meet stipulated regulatory capital requirements. These include capital requirements imposed by the U.S. National Association of Insurance Commissioners ("NAIC") and the Bermuda Monetary Authority ("BMA"). All insurance subsidiaries exceeded the minimum capital requirements at September 30, 2020.