CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands |
Dec. 31, 2019 |
Dec. 31, 2018 |
| Assets |
|
|
|
| Fixed maturities, available-for-sale, at fair value (amortized cost of $1,113,779 and $924,987 as of December 31, 2019 and December 31, 2018, respectively) |
|
$ 1,140,940
|
$ 911,490
|
| Cash and cash equivalents (including restricted cash of $2,662 and $1,414 as of December 31, 2019 and December 31, 2018, respectively) |
|
41,089
|
25,294
|
| Premiums receivable |
|
46,085
|
36,007
|
| Accrued investment income |
|
6,831
|
5,694
|
| Prepaid expenses |
|
3,512
|
3,241
|
| Deferred policy acquisition costs, net |
|
59,972
|
46,840
|
| Software and equipment, net |
|
26,096
|
24,765
|
| Intangible assets and goodwill |
|
3,634
|
3,634
|
| Prepaid reinsurance premiums |
|
15,488
|
30,370
|
| Other assets |
|
21,171
|
4,708
|
| Total assets |
|
1,364,818
|
1,092,043
|
| Liabilities |
|
|
|
| Term loan |
|
145,764
|
146,757
|
| Unearned premiums |
|
136,642
|
158,893
|
| Accounts payable and accrued expenses |
|
39,904
|
31,141
|
| Reserve for insurance claims and claim expenses |
|
23,752
|
12,811
|
| Reinsurance funds withheld |
|
14,310
|
27,114
|
| Warrant liability, at fair value |
|
7,641
|
7,296
|
| Deferred tax liability, net |
|
56,360
|
2,740
|
| Other liabilities |
[1] |
10,025
|
3,791
|
| Total liabilities |
|
434,398
|
390,543
|
| Commitments and contingencies (see Note 14) |
|
|
|
| Shareholders' equity |
|
|
|
| Common stock - class A shares, $0.01 par value; 68,358,074 and 66,318,849 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively (250,000,000 shares authorized) |
|
684
|
663
|
| Additional paid-in capital |
|
707,003
|
682,181
|
| Accumulated other comprehensive income (loss), net of tax |
|
17,288
|
(14,832)
|
| Retained earnings |
|
205,445
|
33,488
|
| Total shareholders' equity |
|
930,420
|
701,500
|
| Total liabilities and shareholders' equity |
|
$ 1,364,818
|
$ 1,092,043
|
|
|