| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Revenues: | ||||||
Gross written premiums | ||||||
251,961 | 154,891 | 120,234 | ||||
Ceded written premiums | ||||||
108,332 | 82,949 | 46,951 | ||||
Net written premiums | ||||||
143,629 | 71,942 | 73,283 | ||||
Change in unearned premiums | ||||||
-43,422 | -2,045 | -17,738 | ||||
Net earned premiums | ||||||
100,207 | 69,897 | 55,545 | ||||
Net investment income | ||||||
5,975 | 3,238 | 2,125 | ||||
Net realized and unrealized gains on investments | ||||||
4,443 | -2,569 | 608 | ||||
Commission and other income | ||||||
2,671 | 2,405 | 1,188 | ||||
Total revenues | ||||||
113,296 | 72,971 | 59,466 | ||||
Expenses: | ||||||
Losses and loss adjustment expenses | ||||||
5,593 | 6,274 | 12,125 | ||||
Acquisition expenses | ||||||
37,259 | 28,224 | 25,522 | ||||
Other underwriting expenses (includes stock-based compensation of $442 and $22,961 for the three months ended March 31, 2020 and 2019, respectively) | ||||||
51,299 | 17,957 | 15,146 | ||||
Interest expense | ||||||
1,068 | 2,303 | 1,745 | ||||
Total expenses | ||||||
95,219 | 54,758 | 54,538 | ||||
Income (loss) before income taxes | ||||||
18,077 | 18,213 | 4,928 | ||||
Income tax expense | ||||||
7,456 | -6 | 1,145 | ||||
Net income | ||||||
10,621 | 18,219 | 3,783 | ||||
Other comprehensive income, net: | ||||||
Net unrealized gains (losses) on securities available for sale for the three months ended March 31, 2020 and 2019, respectively | ||||||
5,249 | -341 | 1,522 | ||||
Net comprehensive income (loss) | ||||||
15,870 | 17,878 | 5,305 | ||||
Per Share Data: | ||||||
Basic earnings per share | ||||||
0.49 | 1.07 | 0.22 | ||||
Diluted earnings per share | ||||||
0.49 | 1.07 | 0.22 | ||||
Weighted-average common shares outstanding: | ||||||
Weighted-average common shares outstanding, basic | ||||||
21,501 | 17,000 | 17,000 | ||||
Weighted-average common shares outstanding, diluted | ||||||
21,834 | 17,000 | 17,000 | ||||