Fednat holding company (FNHC)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues:
Net premiums earned

105,910

-

87,374

-

88,784

-

98,493

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,892

11,660

11,144

11,621

10,892

Gross premiums written

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

92,032

107,353

81,102

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gross premiums written

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60,741

69,534

45,333

-

25,338

33,071

31,274

-

-

-

-

-

-

Gross premiums written

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,654

28,002

27,144

17,698

27,597

Gross premiums ceded

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

129,298

46,533

3,306

-

49,936

25,409

-

-

-

-

-

-

29,657

13,510

1,505

29,526

20,907

Net premiums written

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-37,266

60,820

77,796

-

10,805

44,125

-

-

-

-

-

-

-12,003

14,492

25,639

-11,828

6,690

Gross premiums ceded

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,834

-

35,733

11,727

1,858

-

-

-

-

-

-

Net premiums written

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

42,499

-

-10,395

21,344

29,416

-

-

-

-

-

-

Increase in prepaid reinsurance premiums

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

80,013

23,682

-16,795

-

29,318

10,466

-9,914

-11,158

22,797

269

-9,849

-10,023

18,001

886

-11,520

16,194

6,422

Increase in unearned premiums

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,229

33,069

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,255

2,220

Increase in unearned premiums

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16,997

-

12,762

30,932

14,286

91

-2,686

6,920

6,749

998

-6,894

3,718

2,975

-

-

Net change in prepaid reinsurance premiums and unearned premiums

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

71,784

-9,387

-33,792

-

16,556

-20,466

-24,200

-11,249

25,483

-6,651

-16,598

-11,021

24,895

-2,832

-14,495

23,449

4,202

Net premiums earned

-

-

-

92,306

-

-

-

83,557

82,109

-

80,764

83,554

81,660

76,922

69,405

60,045

54,997

56,721

62,286

49,227

44,786

40,950

34,518

51,433

44,004

35,062

27,361

23,659

18,299

16,760

15,088

14,693

12,818

-

-

-

-

-

-

Finance revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

392

348

311

-

241

198

145

133

122

127

114

107

175

116

120

110

103

Direct written policy fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,238

2,352

1,827

-

1,632

1,780

1,183

478

435

561

533

382

288

452

461

310

439

Net investment income

3,892

3,864

4,068

4,259

3,710

3,402

3,137

2,978

2,943

2,773

2,603

2,560

2,318

2,665

2,164

2,194

2,040

2,072

1,907

1,701

1,546

1,626

1,450

1,302

1,007

950

800

788

794

970

953

935

961

1,024

1,031

1,054

970

925

1,011

Net realized and unrealized investment gains (losses)

-2,825

2,034

794

1,955

2,301

-5,060

1,760

208

-1,052

-96

6,101

2,648

-105

985

1,126

7

927

-127

1,126

913

1,704

380

659

2,056

1,331

401

780

887

813

1,155

145

-218

-10

1,673

713

442

-103

1,864

1,599

Direct written policy fees

3,466

2,892

2,514

2,403

2,391

-

3,796

3,313

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Direct written policy fees

-

-

-

-

-

-

-

-

3,576

-

4,098

4,807

4,712

3,174

4,318

4,925

4,202

-

-

-

-

5,339

1,173

1,223

954

-

637

844

507

274

400

396

307

135

253

309

297

399

558

Regulatory assessments recovered

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

3

106

115

51

Other income

5,256

5,009

4,726

4,378

4,011

4,321

3,646

5,686

5,501

8,016

5,131

4,590

4,469

1,364

4,493

4,778

6,794

-11,260

7,280

6,949

6,900

9,747

970

289

281

10,525

466

27

125

50

118

329

20

628

842

140

131

135

381

Quota-share profit sharing, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,750

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Total revenues

115,699

108,987

99,476

105,301

101,197

96,442

110,832

95,742

93,077

101,752

98,697

98,159

93,054

85,110

81,506

71,949

68,960

57,146

72,599

58,790

54,936

48,824

43,150

59,003

49,715

39,771

31,917

28,183

21,866

19,820

17,261

16,823

14,743

16,667

16,194

14,176

13,126

15,479

15,034

Costs and expenses:
Losses and loss adjustment expenses

68,930

78,796

62,105

65,340

66,839

72,318

62,457

47,570

46,071

58,874

75,367

56,417

56,899

73,309

45,973

48,983

29,545

-

28,412

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Commissions and other underwriting expenses

36,355

31,539

24,854

22,562

28,234

29,642

31,373

29,873

30,221

27,984

28,386

30,929

27,568

24,687

29,868

15,971

19,852

-

21,610

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Losses and loss adjustment expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,148

23,949

-

15,126

24,522

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Commissions and other underwriting expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,630

12,694

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

General and administrative expenses

6,245

5,867

5,246

5,779

6,311

5,838

5,000

5,260

6,085

5,226

5,042

5,076

4,619

3,975

4,044

5,086

4,081

2,726

4,887

3,287

3,798

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Losses and LAE

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-20,828

-

-14,436

-12,819

-9,321

-9,296

-8,049

-7,136

-5,728

-6,779

-7,852

-7,818

-8,447

-8,669

-10,196

Operating and underwriting expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,732

4,201

3,667

-

3,411

3,934

2,727

3,167

2,047

2,371

2,411

2,388

2,271

2,544

2,713

2,542

3,013

Salaries and wages

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,022

3,448

3,050

-

2,709

2,333

2,333

2,154

2,079

1,995

2,211

1,941

1,973

1,891

2,199

2,146

2,176

Policy acquisition costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,815

8,838

8,442

-

6,576

5,042

3,753

3,543

3,983

2,981

2,748

2,812

3,556

3,039

2,940

3,913

3,035

Interest expense

1,915

1,916

1,894

1,915

5,051

1,038

1,032

1,023

1,084

101

81

82

84

89

81

94

84

94

65

86

11

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total costs and expenses

113,445

118,118

94,099

95,596

106,435

108,836

99,862

83,726

83,461

92,185

108,876

92,504

89,170

102,060

79,966

70,134

53,562

44,949

54,974

40,151

40,452

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31,695

41,009

35,987

-

27,132

24,128

18,134

18,160

16,158

14,483

13,098

13,920

15,652

15,292

16,299

17,270

18,420

Income (loss) before income taxes

2,254

-9,131

5,377

9,705

-5,238

-12,394

10,970

12,016

9,616

9,567

-10,179

5,655

3,884

-16,950

1,540

1,815

15,398

12,197

17,625

18,639

14,484

14,130

11,455

17,994

13,728

6,646

4,785

4,055

3,732

1,660

1,103

2,340

1,645

2,747

542

-1,116

-3,173

-1,791

-3,386

Income tax expense (benefit)

121

-2,238

718

2,595

-1,373

-3,089

3,020

3,196

2,371

3,943

-3,781

1,988

1,435

-6,052

102

697

5,795

4,569

7,054

6,755

5,711

27,625

4,228

-6,440

-5,305

2,079

1,504

1,511

1,397

591

353

918

573

793

114

-311

-1,166

-523

-1,037

Net income (loss)

2,133

-6,893

4,659

7,110

-3,865

-9,305

7,950

8,820

7,245

5,624

-6,398

3,667

2,449

-10,898

1,438

1,118

9,603

7,628

10,571

11,884

8,773

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income before non-controlling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,227

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss) attributable to non-controlling interest

-

-

0

0

-

0

0

0

-218

-672

-1,674

-328

27

7

44

127

68

-62

-22

150

-511

-

0

-11,554

-8,423

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss) attributable to FedNat Holding Company shareholders

-

-

4,659

7,110

-

-9,305

7,950

8,820

7,463

6,296

-4,724

3,995

2,422

-10,905

1,394

991

9,535

7,690

10,593

11,734

9,284

9,995

7,227

11,554

8,423

4,567

3,281

2,544

2,335

1,069

750

1,422

1,072

1,954

428

-805

-2,007

-1,268

-2,349

Net Income (Loss) Per Common Share
Basic (in dollars per share)

0.15

-0.53

0.36

0.55

-0.30

-0.72

0.62

0.69

0.58

0.49

-0.36

0.30

0.18

-0.79

0.10

0.07

0.69

0.55

0.77

0.86

0.68

0.70

0.57

1.04

0.77

0.48

0.41

0.32

0.29

0.13

0.09

0.18

0.13

0.25

0.05

-0.10

-0.25

-0.16

-0.30

Diluted (in dollars per share)

0.15

-0.53

0.36

0.55

-0.30

-0.73

0.62

0.69

0.58

0.48

-0.36

0.30

0.18

-0.78

0.10

0.07

0.68

0.55

0.76

0.84

0.66

0.68

0.56

1.01

0.74

0.46

0.39

0.31

0.29

0.13

0.09

0.18

0.13

0.25

0.05

-0.10

-0.25

-0.16

-0.30

Weighted Average Number of Shares of Common Stock Outstanding
Basic (in shares)

14,249

13,415

12,854

12,844

12,795

12,775

12,749

12,726

12,850

12,942

13,135

13,171

13,432

13,621

13,780

13,805

13,826

-

13,749

13,722

-

13,658

12,624

11,096

10,948

-

8,066

8,019

7,982

7,965

7,948

7,947

7,946

7,946

7,946

7,946

7,946

7,946

7,946

Diluted (in shares)

14,312

13,517

12,897

12,883

12,795

12,807

12,870

12,846

12,945

13,050

13,135

13,256

13,559

13,713

13,943

13,988

14,044

-

13,977

13,985

-

13,996

12,956

11,481

11,317

-

8,345

8,273

8,126

8,066

8,042

7,993

7,962

7,946

7,946

7,946

7,946

7,946

7,946

Dividends declared per share of common stock (in dollars per share)

0.09

0.09

0.08

0.08

0.08

0.08

0.00

0.08

0.08

0.08

0.08

0.08

0.08

0.08

0.08

0.06

0.05

-

0.04

0.04

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Premiums Written and Earned [Abstract]
Dividends paid per share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.03

0.03

0.03

-

0.03

0.03

0.02

0.02

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00