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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Gross premiums written $ 126,054 $ 133,569 $ 393,699 $ 429,254
Net premiums written 109,045 115,051 344,348 357,233
Net premiums earned 108,619 119,553 328,818 358,993
Net investment income 10,134 8,795 27,618 25,103
Net realized investment gains (losses):        
Other than temporary impairment losses on investments (1,020) (2,214) (1,708) (4,481)
Other net realized investment gains (losses) 57 4,142 858 (4,576)
Total net realized investment gains (losses) (963) 1,928 (850) (9,057)
Other income 2,294 7,852 5,444 9,603
Total revenues 120,084 138,128 361,030 384,642
Losses and Expenses:        
Net losses and loss adjustment expenses 82,395 72,162 202,656 215,057
Acquisition costs and other underwriting expenses 45,002 48,129 135,010 148,761
Corporate and other operating expenses 4,630 5,006 11,045 13,064
Interest expense 4,836 2,233 12,065 6,677
Income (loss) before income taxes (16,779) 10,598 254 1,083
Income tax expense (benefit) (7,855) 1,063 (13,193) (10,412)
Net income (loss) $ (8,924) $ 9,535 $ 13,447 $ 11,495
Net income (loss)        
Basic [1] $ (0.51) $ 0.55 $ 0.78 $ 0.67
Diluted [1] $ (0.51) $ 0.54 $ 0.76 $ 0.66
Weighted-average number of shares outstanding        
Basic 17,343,292 17,254,843 17,331,840 17,241,040
Diluted [2] 17,343,292 17,540,060 17,684,519 17,515,854
[1] For the quarter ended September 30, 2017, "diluted" loss per share is the same as "basic" loss per share since there was a net loss for the period.
[2] For the quarter ended September 30, 2017, "weighted average shares outstanding - basic" was used to calculate "diluted earnings per share" due to a net loss for the period.