CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
$ in Thousands |
3 Months Ended |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Revenues |
|
|
|
|
| Net premiums earned |
$ 31,808
|
$ 12,834
|
$ 77,656
|
$ 28,626
|
| Net investment income |
3,544
|
1,884
|
10,117
|
5,168
|
| Net realized investment gains (losses) |
66
|
(15)
|
(758)
|
952
|
| Other revenues |
102
|
0
|
172
|
0
|
| Total revenues |
35,520
|
14,703
|
87,187
|
34,746
|
| Expenses |
|
|
|
|
| Insurance claims and claims expenses |
664
|
181
|
1,592
|
279
|
| Underwriting and operating expenses |
24,037
|
19,653
|
69,943
|
58,912
|
| Total expenses |
24,701
|
19,834
|
71,535
|
59,191
|
| Other (expense) income |
|
|
|
|
| (Loss) gain from change in fair value of warrant liability |
(797)
|
332
|
(187)
|
1,473
|
| Interest expense |
(3,733)
|
0
|
(11,072)
|
0
|
| Total other (expense) income |
(4,530)
|
332
|
(11,259)
|
1,473
|
| Income (loss) before income taxes |
6,289
|
(4,799)
|
4,393
|
(22,972)
|
| Income tax expense |
114
|
0
|
114
|
0
|
| Net income (loss) |
$ 6,175
|
$ (4,799)
|
$ 4,279
|
$ (22,972)
|
| Earnings (loss) per share |
|
|
|
|
| Basic earnings (loss) per share (in dollars per share) |
$ 0.10
|
$ (0.08)
|
$ 0.07
|
$ (0.39)
|
| Diluted earnings (loss) per share (in dollars per share) |
$ 0.10
|
$ (0.08)
|
$ 0.07
|
$ (0.39)
|
| Weighted average common shares outstanding |
|
|
|
|
| Basic weighted average shares outstanding (in shares) |
59,130,401
|
58,741,328
|
59,047,758
|
58,650,043
|
| Dilutive weighted average shares outstanding (in shares) |
60,284,746
|
58,741,328
|
59,861,916
|
58,650,043
|
| Other comprehensive income (loss), net of tax: |
|
|
|
|
| Net unrealized gains (losses) in accumulated other comprehensive gain (loss), net of tax (benefit) expense of $0 for all periods presented |
$ (82)
|
$ (483)
|
$ 17,690
|
$ (15)
|
| Reclassification adjustment for losses (gains) included in net loss, net of tax expense of $0 for all periods presented |
(66)
|
15
|
758
|
(952)
|
| Other comprehensive income (loss), net of tax |
(148)
|
(468)
|
18,448
|
(967)
|
| Comprehensive income (loss) |
$ 6,027
|
$ (5,267)
|
$ 22,727
|
$ (23,939)
|