• Filing Date: 2020-03-06
  • Form Type: 10-K
  • Description: Annual report
v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenue      
Gross premiums earned $ 342,079 $ 343,065 $ 358,253
Premiums ceded (125,765) (129,643) (133,635)
Net premiums earned 216,314 213,422 224,618
Net investment income 13,642 16,581 11,439
Net realized investment (losses) gains (254) 6,183 4,346
Net unrealized investment gains (losses) 7,950 (10,202) 92
Net other-than-temporary impairment losses recognized in income:      
Total other-than-temporary impairment losses (289) (80) (1,116)
Portion of loss recognized in other comprehensive income, before taxes     (351)
Net other-than-temporary impairment losses (289) (80) (1,467)
Policy fee income 3,229 3,389 3,622
Other 1,882 1,999 1,756
Total revenue 242,474 231,292 244,406
Expenses      
Losses and loss adjustment expenses 107,514 109,328 165,629
Policy acquisition and other underwriting expenses 42,497 38,943 39,663
General and administrative personnel expenses 31,112 25,908 25,127
Interest expense 13,055 18,096 16,767
Loss on repurchases of senior notes     743
Impairment loss     38
Other operating expenses 12,203 12,115 12,063
Total operating expenses 206,381 204,390 260,030
Income (loss) before income taxes 36,093 26,902 (15,624)
Income tax expense (benefit) 9,517 9,177 (8,731)
Net income (loss) $ 26,576 $ 17,725 $ (6,893)
Basic earnings (loss) per share $ 3.32 $ 2.34 $ (0.75)
Diluted earnings (loss) per share $ 3.31 $ 2.34 $ (0.75)