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As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD

Revenue

Net premiums earned 25,934 30,448 35,202 54,357
Net investment income 362 544 965 1,617
Other income 834 1,264 1,981 2,246
Total revenue 27,130 32,256 38,148 58,220

Expenses

Net losses and loss adjustment expenses 9,939 16,372 15,900 27,413
Amortization of deferred policy acquisition costs 6,571 8,492 11,080 15,313
General and administrative expenses 7,253 6,918 9,304 13,563
Loss on termination of Management Services Agreement 5,421 NA NA NA
Accretion of discount on Series B Preferred Shares 282 355 372 33
Loss on repurchase of Series B Preferred Shares and Performance Shares NA NA 0 1,612
Total expenses 29,466 32,137 36,656 57,934
Income before income tax expense (benefit) (2,336) 119 1,492 286
Income tax expense (benefit) (663) 108 1,198 (518)
Net income (1,673) 11 294 804

Net earnings (loss) per common share

Basic (0.27) NA NA NA
Diluted (0.27) NA NA NA
Dividends declared on Series A Preferred Shares NA NA 0 1,108
Income (loss) attributable to common shareholders NA NA 294 (304)

Net (loss) earnings per common share

Basic and diluted NA 0 0.05 (0.05)

Weighted average common shares outstanding

Basic 6,286,706 6,047,979 5,965,051 5,989,742
Diluted 6,286,706 6,047,979 5,970,096 5,989,742

Consolidated Statements of Comprehensive Income

Net income (1,673) 11 294 804
Unrealized losses on investments available for sale, net of income taxes (61) (3) (104) (527)
Comprehensive income (1,734) 8 190 277
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