• Filing Date: 2019-03-08
  • Form Type: 10-K
  • Description: Annual report
v3.10.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenue      
Gross premiums earned $ 343,065 $ 358,253 $ 378,678
Premiums ceded (129,643) (133,635) (135,051)
Net premiums earned 213,422 224,618 243,627
Net investment income 16,581 11,439 9,087
Net realized investment gains 6,183 4,346 2,601
Net unrealized investment (losses) gains (10,202) 92  
Net other-than-temporary impairment losses recognized in income:      
Total other-than-temporary impairment losses (80) (1,116) (2,252)
Portion of loss recognized in other comprehensive income, before taxes   (351) (230)
Net other-than-temporary impairment losses (80) (1,467) (2,482)
Policy fee income 3,389 3,622 3,914
Gain on repurchases of convertible senior notes     153
Gain on bargain purchase     2,071
Gain on remeasurement of previously held interest     4,005
Other 1,999 1,756 1,470
Total revenue 231,292 244,406 264,446
Expenses      
Losses and loss adjustment expenses 109,328 165,629 124,667
Policy acquisition and other underwriting expenses 38,943 39,663 42,642
General and administrative personnel expenses 25,908 25,127 26,200
Interest expense 18,096 16,767 11,079
Loss on repurchases of senior notes   743  
Impairment loss   38 388
Other operating expenses 12,115 12,063 12,614
Total operating expenses 204,390 260,030 217,590
Income (loss) before income taxes 26,902 (15,624) 46,856
Income tax expense (benefit) 9,177 (8,731) 17,835
Net (loss) income $ 17,725 $ (6,893) $ 29,021
Basic earnings (loss) per share $ 2.34 $ (0.75) $ 2.95
Diluted earnings (loss) per share 2.34 (0.75) 2.92
Dividends per share $ 1.475 $ 1.40 $ 1.20