CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands |
Sep. 30, 2016 |
Dec. 31, 2015 |
| Assets |
|
|
| Fixed maturities, available-for-sale, at fair value (amortized cost of $628,209 and $564,319 as of September 30, 2016 and December 31, 2015, respectively) |
$ 641,572
|
$ 559,235
|
| Cash and cash equivalents |
44,522
|
57,317
|
| Premiums receivable |
11,378
|
5,143
|
| Accrued investment income |
3,615
|
2,873
|
| Prepaid expenses |
2,313
|
1,428
|
| Deferred policy acquisition costs, net |
28,911
|
17,530
|
| Software and equipment, net |
19,924
|
15,201
|
| Intangible assets and goodwill |
3,634
|
3,634
|
| Prepaid reinsurance premiums |
36,091
|
0
|
| Other assets |
206
|
90
|
| Total assets |
792,166
|
662,451
|
| Liabilities |
|
|
| Term loan |
144,230
|
143,939
|
| Unearned premiums |
145,401
|
90,773
|
| Accounts payable and accrued expenses |
32,568
|
22,725
|
| Reserve for insurance claims and claim expenses |
2,133
|
679
|
| Reinsurance funds withheld |
28,963
|
0
|
| Deferred ceding commission |
6,697
|
0
|
| Warrant liability, at fair value |
1,654
|
1,467
|
| Current tax payable |
114
|
0
|
| Deferred tax |
137
|
137
|
| Total liabilities |
361,897
|
259,720
|
| Commitments and contingencies |
|
|
| Shareholders' Equity |
|
|
| Additional paid-in capital |
575,148
|
570,340
|
| Accumulated other comprehensive income (loss), net of tax |
10,974
|
(7,474)
|
| Accumulated deficit |
(156,444)
|
(160,723)
|
| Total shareholders' equity |
430,269
|
402,731
|
| Total liabilities and shareholders' equity |
792,166
|
662,451
|
| Common Stock - Class A |
|
|
| Shareholders' Equity |
|
|
| Common stock - class A shares, $0.01 par value; 59,138,663 and 58,807,825 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively (250,000,000 shares authorized) |
$ 591
|
$ 588
|