1347 property insurance holdings, inc. (PIHPP)
Balance Sheet / 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'13
ASSETS
Equity securities, at fair value (cost basis of $25,500 as of both periods)

20,355

29,487

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Limited liability investments

4,100

4,005

3,994

3,881

-

2,987

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fixed income securities, at fair value (amortized cost of $79,377 and $77,366, respectively)

-

-

-

-

79,475

-

73,591

68,133

62,102

51,122

45,207

40,203

32,706

26,559

28,081

25,658

21,745

20,238

18,168

16,100

13,164

10,514

7,241

5,908

3,530

301

Equity investments, at fair value (cost of $46 and $3,130, respectively)

-

-

-

-

46

-

3,335

2,847

2,287

2,707

1,771

1,258

1,151

1,136

1,050

1,010

1,014

0

-

-

-

-

-

-

-

-

Short-term investments, at cost

-

-

-

-

7,168

-

697

1,264

161

417

1,779

1,459

538

196

1,933

290

1,063

1,149

820

713

101

2,198

201

100

100

100

Other investments

-

-

-

-

4,188

-

3,295

3,246

1,027

945

945

945

805

505

387

387

298

248

248

159

159

0

-

-

-

-

Total investments

-

-

-

-

90,877

-

80,918

75,490

65,577

55,191

49,702

43,865

35,200

28,396

31,451

27,345

24,120

21,635

19,236

16,972

13,424

12,712

7,442

6,008

3,630

401

Cash and cash equivalents

27,668

28,509

1,803

2,305

26,292

3,666

30,024

30,695

35,987

23,575

25,679

35,133

37,141

43,045

38,926

45,565

44,574

47,957

50,462

52,533

53,734

53,639

-

-

-

15,007

Current income taxes recoverable

1,824

1,265

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax asset, net

520

-

-

-

-

265

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred policy acquisition costs, net

-

-

-

-

8,234

-

9,566

8,675

6,766

6,785

6,192

5,545

4,426

4,389

4,369

4,139

3,677

4,030

3,768

3,417

2,928

3,091

-

-

-

1,925

Cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

54,529

56,899

18,330

-

Premiums receivable, net of allowance for credit losses of $52 and $50, respectively

-

-

-

-

2,211

-

3,494

2,992

2,080

10,831

2,220

2,263

2,164

2,923

2,102

2,211

2,045

2,395

2,187

2,188

1,651

2,086

1,707

1,653

1,813

3,805

Other receivables, net of allowance for doubtful accounts of $0 and $0, respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,939

-

Ceded unearned premiums

-

-

-

-

6,317

-

5,955

6,280

3,609

3,655

3,836

4,060

5,377

4,847

4,451

3,887

3,029

2,805

2,580

2,416

1,718

1,561

1,608

1,614

526

1,126

Reinsurance recoverable on paid losses

-

-

-

-

1,959

-

4,903

6,897

4,433

1,952

7,767

4,539

1,136

444

2,620

2,829

1,300

0

-

-

-

-

-

-

-

-

Reinsurance recoverable on loss and loss adjustment expense reserves

-

-

-

-

16,336

-

5,695

6,867

6,136

8,971

17,560

6,012

4,469

3,652

5,366

3,431

2,028

120

456

108

307

363

-

-

-

-

Funds deposited with reinsured companies

-

-

-

-

239

-

524

762

1,171

2,250

0

-

-

500

-

0

-

725

-

-

-

-

-

-

-

-

Current income taxes recoverable

-

-

-

-

1,065

-

1,370

905

0

64

632

47

672

1,195

1,571

1,006

1,666

965

1,103

1,108

620

0

-

-

-

-

Deferred tax asset, net

-

-

-

-

1,033

-

540

325

397

70

855

247

268

420

555

203

442

506

543

635

599

263

-

-

-

571

Property and equipment, net

-

-

-

-

286

-

343

381

432

205

213

226

244

250

266

281

263

234

212

223

232

237

-

-

-

-

Goodwill

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

211

211

211

-

-

-

-

-

Intangible assets, net of accumulated amortization of $0 and $3, respectively

-

-

-

-

-

-

-

-

-

-

0

-

-

-

4

5

5

6

43

46

49

0

-

-

-

-

Deferred policy acquisition costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,886

2,610

2,042

-

Deferred tax asset, net

-

-

376

364

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

395

411

508

-

Surplus notes receivable from affiliate

-

-

18,961

19,157

-

18,244

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

316

188

254

112

1,407

67

1,135

1,180

908

888

867

768

732

788

774

820

684

705

500

534

391

282

491

433

66

343

Assets of discontinued operations (Note 4)

-

-

138,700

152,897

-

144,569

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total assets

54,783

63,454

164,088

178,716

156,256

169,798

144,468

141,449

127,496

114,437

115,523

102,705

91,829

90,849

92,455

91,722

83,833

82,083

81,301

80,391

75,864

74,234

69,058

69,628

42,854

23,178

LIABILITIES
Accounts payable

406

400

510

463

-

66

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss and loss adjustment expense reserves

-

-

-

-

27,810

-

14,172

13,817

11,454

13,488

22,091

9,583

7,813

6,971

8,627

5,884

5,957

2,123

2,044

1,458

1,074

1,211

-

-

-

354

Loss and loss adjustment expense reserves

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

662

433

405

-

Unearned premium reserves

-

-

-

-

45,867

-

49,464

44,987

37,397

39,523

32,170

29,913

25,138

25,821

26,344

24,924

21,918

23,442

22,201

20,197

17,125

17,703

15,902

14,393

11,647

11,004

Ceded reinsurance premiums payable

-

-

-

-

9,248

-

9,628

9,335

5,982

5,532

5,786

6,304

4,970

5,229

5,616

5,700

3,201

3,283

3,404

3,442

2,692

2,559

0

2,578

100

50

Agency commissions payable

-

-

-

-

901

-

965

1,419

1,014

695

716

921

669

497

542

752

543

403

470

650

447

323

397

559

350

254

Premiums collected in advance

-

-

-

-

4,036

-

-

-

-

1,078

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Premiums collected in advance

-

-

-

-

-

-

2,599

2,648

2,746

-

1,887

2,226

1,916

1,128

1,689

2,103

1,764

870

1,318

1,608

1,254

560

909

1,031

718

213

Funds held under reinsurance treaties

-

-

-

-

162

-

158

161

206

206

48

50

63

73

-

-

-

0

-

-

-

-

-

-

-

-

Due to related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

96

145

193

237

932

2,668

Current income taxes payable

-

-

1,935

1,069

1,463

932

0

0

449

2,689

-

-

-

-

-

-

-

-

0

0

-

262

287

462

539

0

Deferred tax liability, net

-

106

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due to affiliates

-

-

3,108

4,111

-

2,698

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

57

33

-

-

-

36

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other accrued expenses

-

-

43

33

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Liabilities of discontinued operations (Note 4)

-

-

102,809

113,439

-

103,319

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and other accrued expenses

-

-

-

-

3,301

-

5,801

4,905

3,696

1,584

4,483

3,451

2,034

2,065

1,778

2,281

1,565

1,863

1,830

2,058

1,884

1,557

1,508

1,247

1,471

753

Series B Preferred Shares, $25.00 par value, zero and 120,000 shares issued and outstanding at December 31, 2018 and 2017, respectively

-

-

-

-

-

-

0

0

0

2,840

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series B Preferred Shares, $25.00 par value, 1,000,000 shares authorized, 120,000 shares issued and outstanding at December 31, 2017 and 2016

-

-

-

-

-

-

-

-

-

-

2,744

2,651

2,561

2,708

2,616

2,527

2,442

2,593

2,505

2,420

2,311

0

-

-

-

-

Total liabilities

463

539

108,405

119,115

92,788

107,051

82,787

77,272

62,944

67,635

69,925

55,099

45,164

44,492

47,212

44,171

37,390

34,577

33,772

31,833

26,883

24,320

19,858

20,940

16,162

15,296

Commitments and contingencies (Note 13)

-

-

-

-

-

-

0

0

0

-

0

-

0

0

0

0

0

0

-

-

-

0

-

-

-

-

SHAREHOLDERS' EQUITY
Series A Preferred Shares, $25.00 par value, 1,000,000 shares authorized, 700,000 shares issued and outstanding as of both periods

17,500

17,500

17,500

17,500

17,500

17,500

17,500

17,500

17,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Common stock, $0.001 par value; 10,000,000 shares authorized; 6,219,465 and 6,217,307 shares issued as of March 31, 2020 and December 31, 2019, respectively, and 6,068,106 and 6,065,948 shares outstanding as of March 31, 2020 and December 31, 2019, respectively

6

6

6

6

6

6

6

6

6

6

6

-

-

6

-

-

-

6

-

-

-

-

-

-

-

-

Common stock, $0.001 par value; 10,000,000 shares authorized; 6,136,125 and 6,108,125 shares issued and 5,984,766 and 5,956,766 shares outstanding as of September 30, 2017 and December 31, 2016, respectively

-

-

-

-

-

-

-

-

-

-

-

6

6

-

6

6

6

-

6

6

6

6

6

6

3

1

Additional paid-in capital

46,806

46,754

46,502

46,443

46,392

46,340

46,239

46,138

46,047

47,064

47,052

46,822

46,816

46,809

46,801

46,791

46,781

48,688

48,673

48,663

48,647

47,631

47,622

47,721

26,357

8,749

Accumulated deficit

-8,983

-336

-8,266

-4,381

501

639

157

2,621

2,894

910

-480

1,783

862

616

-976

830

-510

605

26

129

254

2,278

1,583

951

335

-868

Accumulated other comprehensive loss, net of tax

-

-

950

1,042

78

-729

-1,212

-1,079

-886

-169

29

4

-10

-65

248

259

166

-62

59

-7

74

-1

-11

10

-3

0

Stockholders equity before treasury stock

55,329

63,924

56,692

60,610

64,477

63,756

62,690

65,186

65,561

47,811

46,607

48,615

47,674

47,366

46,079

47,886

46,443

49,237

48,764

48,558

-

49,914

-

-

-

-

Shareholders' Equity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

48,791

-

-

-

-

-

-

Less: treasury stock at cost; 151,359 shares for both periods

1,009

1,009

1,009

1,009

1,009

1,009

1,009

1,009

1,009

1,009

1,009

1,009

1,009

1,009

836

335

0

1,731

1,235

233

-

0

-

-

-

-

Total shareholders' equity

54,320

62,915

55,683

59,601

63,468

62,747

61,681

64,177

64,552

46,802

45,598

47,606

46,665

46,357

45,243

47,551

46,443

47,506

47,529

-

48,981

49,914

49,200

48,688

26,692

7,882

Total liabilities and shareholders' equity

54,783

63,454

164,088

178,716

156,256

169,798

144,468

141,449

127,496

114,437

115,523

102,705

91,829

90,849

92,455

91,722

83,833

82,083

81,301

80,391

75,864

74,234

69,058

69,628

42,854

23,178