CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
| Assets |
|
|
| Fixed maturities, available-for-sale, at fair value (amortized cost of $669,363 and $630,688 as of June 30, 2017 and December 31, 2016, respectively) |
$ 673,695
|
$ 628,969
|
| Cash and cash equivalents |
20,035
|
47,746
|
| Premiums receivable |
17,795
|
13,728
|
| Accrued investment income |
3,867
|
3,421
|
| Prepaid expenses |
2,072
|
1,991
|
| Deferred policy acquisition costs, net |
34,206
|
30,109
|
| Software and equipment, net |
21,530
|
20,402
|
| Intangible assets and goodwill |
3,634
|
3,634
|
| Prepaid reinsurance premiums |
38,919
|
37,921
|
| Deferred tax asset, net |
45,771
|
51,434
|
| Other assets |
1,471
|
542
|
| Total assets |
862,995
|
839,897
|
| Liabilities |
|
|
| Term loan |
143,990
|
144,353
|
| Unearned premiums |
157,152
|
152,906
|
| Accounts payable and accrued expenses |
21,349
|
25,297
|
| Reserve for insurance claims and claim expenses |
5,048
|
3,001
|
| Reinsurance funds withheld |
32,042
|
30,633
|
| Deferred ceding commission |
4,830
|
4,831
|
| Warrant liability, at fair value |
3,544
|
3,367
|
| Total liabilities |
367,955
|
364,388
|
| Commitments and contingencies |
|
|
| Shareholders' Equity |
|
|
| Common stock - class A shares, $0.01 par value; 59,858,418 and 59,145,161 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively (250,000,000 shares authorized) |
598
|
591
|
| Additional paid-in capital |
580,499
|
576,927
|
| Accumulated other comprehensive loss, net of tax |
(1,354)
|
(5,287)
|
| Accumulated deficit |
(84,703)
|
(96,722)
|
| Total shareholders' equity |
495,040
|
475,509
|
| Total liabilities and shareholders' equity |
$ 862,995
|
$ 839,897
|