ACQUISITION (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following presents (in thousands) the acquisition date fair values of the net assets acquired related to the Maison Companies as of December 2, 2019:

	Fair
	Value
Assets:
Debt securities, available-for-sale	$	56,929
Cash and cash equivalents	35,968
Prepaid reinsurance premium	25,279
Premiums receivable	2,977
Reinsurance recoverable	7,603
Deferred acquisition costs and value of business acquired, net	8,721
Other assets	3,507
Total assets acquired	140,984
Liabilities:
Loss and adjustment expense reserves	16,660
Unearned premiums	50,513
Reinsurance payable	24,071
Income taxes, net	1,778
Deferred revenue	1,515
Other liabilities	7,487
Total liabilities assumed	102,024
Net specifically identifiable assets acquired	38,960
Goodwill	10,997
Net assets acquired	$	49,957

Business Acquisition, Pro Forma Information

The following unaudited pro forma condensed consolidated statements of operations of the Company assume that the acquisition of the Maison Companies was completed on January 1, 2018:

	Year Ended December 31,
	2019		2018
	(In thousands)
Revenue	$	471,438	$	454,469
Net income (loss)	(9,025)		17,432