| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
REVENUES: | ||||||
Gross premiums written | ||||||
937,937 | 923,349 | 625,565 | 626,704 | 586,098 | 436,407 | 218,537 |
Change in gross unearned premiums | ||||||
13,690 | -2,977 | -17,739 | -13,814 | 61,358 | - | - |
Change in gross unearned premiums | ||||||
- | - | - | - | - | 124,893 | 78,578 |
Gross premiums earned | ||||||
924,247 | 926,326 | 643,304 | 640,518 | 524,740 | 311,514 | 139,959 |
Ceded premiums | ||||||
445,534 | 472,144 | 263,740 | 228,797 | 148,472 | 87,902 | 44,800 |
Net premiums earned | ||||||
478,713 | 454,182 | 379,564 | 411,721 | 376,268 | 223,612 | 95,159 |
Retroactive reinsurance | ||||||
- | - | - | - | - | - | 26,046 |
Net investment income | ||||||
14,432 | 13,280 | 11,332 | 9,181 | 7,421 | 3,849 | 1,049 |
Net realized and unrealized gains | ||||||
4,163 | -2,477 | 564 | - | - | - | - |
Net realized gains (losses) | ||||||
- | - | - | 1,733 | - | - | - |
Net realized gains (losses) | ||||||
- | - | - | - | 1,508 | 304 | - |
Net realized gains (losses) | ||||||
- | - | - | - | - | - | -323 |
Other revenue | ||||||
13,997 | 15,186 | 15,163 | 16,323 | 9,595 | 6,055 | 2,901 |
Total revenues | ||||||
511,305 | 480,171 | 406,623 | 438,958 | 394,792 | 233,820 | 124,832 |
EXPENSES: | ||||||
Losses and loss adjustment expenses | ||||||
273,288 | 237,425 | 201,482 | 238,862 | 141,191 | 89,560 | 38,501 |
Policy acquisition costs, net of ceding commission income of $10.4 and $12.9 | ||||||
107,906 | 84,666 | 83,892 | 84,421 | - | - | - |
Policy acquisition costs, net of ceding commission income of $14.3 million and $0, respectively | ||||||
- | - | - | - | 57,186 | 36,510 | 6,150 |
General and administrative expenses, net of ceding commission income of $3.5 and $4.3 | ||||||
80,544 | 88,544 | 71,714 | 58,910 | 46,125 | 33,498 | 24,720 |
Total expenses | ||||||
461,738 | 410,635 | 357,088 | 382,193 | 244,502 | - | - |
Total expenses | ||||||
- | - | - | - | - | 159,568 | 69,371 |
Operating income | ||||||
49,567 | 69,536 | 49,535 | 56,765 | 150,290 | 74,252 | - |
Interest expense, net | ||||||
8,523 | 20,015 | 13,210 | 362 | - | - | - |
Other non-operating loss, net | ||||||
-48 | -10,527 | -42,217 | - | - | - | - |
Income before income taxes | ||||||
40,996 | 38,994 | -5,892 | 56,403 | 150,290 | 74,252 | 55,461 |
Provision for income taxes | ||||||
12,360 | 11,839 | -4,773 | 22,538 | 57,778 | 27,155 | 21,248 |
Net income | ||||||
28,636 | 27,155 | -1,119 | 33,865 | 92,512 | 47,097 | 34,213 |
OTHER COMPREHENSIVE INCOME | ||||||
Change in net unrealized gains on investments | ||||||
19,765 | -5,700 | 5,688 | -3,120 | -4,606 | - | - |
Reclassification adjustment for net realized investment (gains) losses | ||||||
1,734 | -163 | 564 | 1,733 | 1,508 | - | - |
Change in net unrealized (losses) gains on investments | ||||||
- | - | - | - | - | 4,395 | -1,610 |
Reclassification adjustment for net realized investment gain | ||||||
- | - | - | - | - | 304 | -323 |
Income tax expense related to items of other comprehensive income | ||||||
4,174 | -2,232 | 3,170 | -1,868 | -2,358 | 1,578 | -497 |
Total comprehensive income | ||||||
42,493 | 23,850 | 835 | 30,880 | 88,756 | 49,610 | 33,423 |
Weighted average shares outstanding | ||||||
Basic | ||||||
29,213 | 25,941 | 26,798 | 29,632 | 30,056 | 24,568 | 14,313 |
Diluted | ||||||
29,232 | 26,095 | 26,798 | 29,634 | 30,326 | 25,816 | 14,473 |
Earnings per share | ||||||
Basic | ||||||
0.98 | 1.05 | -0.04 | 1.14 | 3.08 | 1.92 | 2.39 |
Diluted | ||||||
0.98 | 1.04 | -0.04 | 1.14 | 3.05 | 1.82 | 2.36 |