Acquisition and Discontinued Operations (Tables)

3 Months Ended

6 Months Ended

Mar. 31, 2019

Jun. 30, 2019

Business Combinations [Abstract]

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

(in thousands)
	March 1, 2019
Investments	$	4,405
Cash and cash equivalents	755
Restricted cash	2,650
Accrued investment income	32
Service fee receivable	513
Other receivables	12
Property and equipment, net	79
Goodwill	7,445
Intangible assets not subject to amortization - trade names	1,974
Intangible asset subject to amortization - customer relationships	3,732
Other assets	620
Total assets	$	22,217
Accrued expenses and other liabilities	$	2,018
Income taxes payable	1
Deferred service fees	10,564
Net deferred income tax liabilities	1,263
Total liabilities	$	13,846
Purchase price	$	8,371

Business Acquisition, Pro Forma Information

(in thousands, except per share data)	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019		2018
Revenues	$	15,226		$	15,218		$	30,491	$	30,982
(Loss) income from continuing operations attributable to common shareholders	$	(906	)	$	(5,357	)	$	676	$	(8,874	)
Basic (loss) earnings per share - continuing operations	$	(0.04	)	$	(0.25	)	$	0.03	$	(0.41	)
Diluted (loss) earnings per share - continuing operations	$	(0.04	)	$	(0.25	)	$	0.03	$	(0.41	)

Summary of Discontinued Operations

Summary financial information for Mendota and ARS included in income from discontinued operations, net of taxes in the statements of operations for the three and six months ended June 30, 2018 is presented below:

(in thousands)	Three months ended June 30,			Six months ended June 30,
	2018			2018
Income (loss) from discontinued operations, net of taxes:
Revenues:
Net premiums earned	$	22,956		$	51,592
Total revenues	22,956			51,592
Other revenues (expenses), net:
Loss and loss adjustment expenses	(18,927		)	(41,728		)
Commissions and premium taxes	(2,225		)	(6,388		)
General and administrative expenses	(3,825		)	(7,778		)
Net investment income	208			434
Net realized losses	(134		)	(134		)
Gain on change in fair value of equity investments	96			106
Other income	2,445			4,876
Total other revenue (expenses), net	(22,362		)	(50,612		)
Income from discontinued operations before income tax benefit	594			980
Income tax benefit	—			—
Income from discontinued operations, net of taxes	594			980
Loss on disposal of discontinued operations before income tax expense	(6,628		)	(6,628		)
Income tax expense	—			—
Loss on disposal of discontinued operations, net of taxes	(6,628		)	(6,628		)
Total loss from discontinued operations, net of taxes	$	(6,034	)	$	(5,648	)