Income Statement

Financial Highlights
3/31/2017
3/31/2018
6/30/2018
12/31/2018
Revenue ($000)
P&C Net Premiums Earned 107,183 162,675 171,306 689,276
L&H Net Premiums Earned 0 0 0 0
L&H Fees 0 0 0 0
L&H Policy Revenue 0 0 0 0
Managed Care Premiums Earned 0 0 0 0
Total Policy Income 107,183 162,675 171,306 689,276
Investment Income from Securities NA NA NA NA
Partnership Income NA NA NA NA
Net Investment Income 2,701 2,999 8,226 16,870
Realized Gain on Derivative Securities 0 0 0 0
Other Realized Security Gains (351) 211 (438) 1,655
Realized Gain on Securities (351) 211 (438) 1,655
Total Asset Management and Administration Fees 0 0 0 0
Broker Commissions 0 0 0 0
Asset Management and Brokerage Fees 0 0 0 0
Insurance Management Servicing Revenue 0 0 0 0
Other Noninterest Income 12,888 14,070 3,824 15,226
Nonrecurring Revenue 0 0 0 0
Total Revenue 122,421 179,955 182,918 723,027
Expense ($000)
P&C Losses & LAE 63,333 77,246 88,595 408,589
L&H Total Claims & Policy Benefits 0 0 0 0
Managed Care Policy Expense 0 0 0 0
Total Policy Expense 63,333 77,246 88,595 408,589
DAC Amortization NA NA NA 225,900
VOBA Amortization NA NA NA (22,760)
Policy Acquisition Costs 35,436 57,135 50,454 203,140
Amortization of Intangibles NA NA NA NA
Impairment of Goodwill 0 0 0 0
Amrt of Intang & Goodwill Impair NA NA NA NA
SG&A NA NA NA NA
Other Underwriting Expense 15,010 31,400 22,079 105,671
Underwriting & Other Expense 50,446 88,535 72,533 308,811
Interest Expense 759 2,458 2,458 9,866
Nonrecurring Expense 1,945 0 0 0
Total Expense 116,483 168,239 163,586 727,266
Net Income ($000)
Net Income before Taxes 5,938 11,716 19,332 (4,239)
Provision for Taxes 2,039 3,347 4,631 (4,633)
Effective Tax Rate(%) 34.34 28.57 23.96 NM
Net Income after Taxes 3,899 8,369 14,701 394
Other After-tax Items 0 0 0 0
Total Minority Interest Expense 0 0 0 0
Net Income before Extra 3,899 8,369 14,701 394
Extraordinary Items 0 0 0 0
Net Income 3,899 8,369 14,701 394
Net Income Attributable to Noncontrolling Int 0 0 0 104
Net Income Attributable to Parent 3,899 8,369 14,701 290
Preferred Dividends 0 0 0 0
Other Preferred Dividends after Net Income 0 0 0 0
Other Changes to Net Income 0 0 0 0
Net Income Avail to Common 3,899 8,369 14,701 290
Operating Income ($000)
Net Income before Extra 3,899 8,369 14,701 394
Realized Gains, after Tax (228) NA NA NA
Other After-tax Operating Income Adjustments (1,264) NA NA NA
Operating Income after Taxes 5,391 16,982 15,473 16,464
Comprehensive Income ($000)
Net Income 3,899 8,369 14,701 394
Change in Unrealized Gain 2,540 (17,672) (3,042) (18,216)
Change in Foreign Currency Translations 0 0 0 0
Pension Fund Liability Adjustments 0 0 0 0
Change in Fair Value of Effective Hedges 0 0 0 0
Total Other Comprehensive Income 2,540 (17,672) (3,042) (18,216)
Comprehensive Income 6,439 (9,303) 11,659 (17,822)
Comprehensive Income: Noncontrolling Interests 0 0 0 139
Comprehensive Income: Parent Company 6,439 (9,303) 11,659 (17,961)
Share and Per Share Info ($)
Basic EPS before Extra 0.18 0.20 0.34 0.01
Basic EPS after Extra 0.18 0.20 0.34 0.01
Avg Basic Shares Out(actual) 21,471,185 42,581,939 42,648,660 42,650,629
Diluted EPS before Extra 0.18 0.20 0.34 0.01
Diluted EPS after Extraordinary 0.18 0.20 0.34 0.01
Operating EPS 0.25 0.40 0.36 0.38
Avg Diluted Shares Out(actual) 21,688,733 42,748,627 42,790,346 42,838,886
Common Dividends Declared per Share 0.06 0.06 0.06 0.24
P&C GAAP Underwriting Ratios (%)
Loss Ratio 59.10 47.50 51.70 59.30
Expense Ratio 49.10 54.60 42.50 45
Combined Ratio 108.20 102.10 94.20 104.30
Managed Care Ratios (%)
Reported Medical Care Ratio NA NA NA NA
Reported Administrative Ratio NA NA NA NA
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.