CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
| Assets |
|
|
| Fixed maturities, available-for-sale, at fair value (amortized cost of $852,029 and $713,859 as of June 30, 2018 and December 31, 2017, respectively) |
$ 838,265
|
$ 715,875
|
| Cash and cash equivalents |
16,454
|
19,196
|
| Premiums receivable |
31,252
|
25,179
|
| Accrued investment income |
4,789
|
4,212
|
| Prepaid expenses |
2,907
|
2,151
|
| Deferred policy acquisition costs, net |
42,363
|
37,925
|
| Software and equipment, net |
22,803
|
22,802
|
| Intangible assets and goodwill |
3,634
|
3,634
|
| Prepaid reinsurance premiums |
35,798
|
40,250
|
| Deferred tax asset, net |
12,378
|
19,929
|
| Other assets |
5,836
|
3,695
|
| Total assets |
1,016,479
|
894,848
|
| Liabilities |
|
|
| Term loan |
147,262
|
143,882
|
| Unearned premiums |
165,658
|
163,166
|
| Accounts payable and accrued expenses |
21,407
|
23,364
|
| Reserve for insurance claims and claim expenses |
10,601
|
8,761
|
| Reinsurance funds withheld |
31,011
|
34,102
|
| Deferred ceding commission |
4,507
|
5,024
|
| Warrant liability, at fair value |
6,391
|
7,472
|
| Total liabilities |
386,837
|
385,771
|
| Commitments and contingencies |
|
|
| Shareholders' Equity |
|
|
| Common stock - class A shares, $0.01 par value; 65,753,784 and 60,517,512 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively (250,000,000 shares authorized) |
658
|
605
|
| Additional paid-in capital |
670,870
|
585,488
|
| Accumulated other comprehensive loss, net of tax |
(15,043)
|
(2,859)
|
| Accumulated deficit |
(26,843)
|
(74,157)
|
| Total shareholders' equity |
629,642
|
509,077
|
| Total liabilities and shareholders' equity |
$ 1,016,479
|
$ 894,848
|