Income Statement

Financial Highlights
2020 FQ1 YTD
3/31/2020
2019 FY
12/31/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
Revenue ($000)
P&C Net Premiums Earned 191,596 752,400 689,276 585,490 456,931
L&H Net Premiums Earned 0 0 0 0 0
L&H Fees 0 0 0 0 0
L&H Policy Revenue 0 0 0 0 0
Managed Care Premiums Earned 0 0 0 0 0
Total Policy Income 191,596 752,400 689,276 585,490 456,931
Investment Income from Securities NA NA NA NA NA
Partnership Income NA NA NA NA NA
Net Investment Income (19,809) 53,821 16,870 17,126 10,092
Realized Gain on Derivative Securities 0 0 0 0 0
Other Realized Security Gains (68) 1,229 1,655 67 547
Realized Gain on Securities (68) 1,229 1,655 67 547
Total Asset Management and Administration Fees 0 0 0 0 0
Broker Commissions 0 0 0 0 0
Asset Management and Brokerage Fees 0 0 0 0 0
Insurance Management Servicing Revenue 0 0 0 0 0
Other Noninterest Income 4,343 16,701 15,226 51,204 19,060
Nonrecurring Revenue 0 0 0 0 0
Total Revenue 176,062 824,151 723,027 653,887 486,630
Expense ($000)
P&C Losses & LAE 102,837 499,493 408,589 365,535 298,353
L&H Total Claims & Policy Benefits 0 0 0 0 0
Managed Care Policy Expense 0 0 0 0 0
Total Policy Expense 102,837 499,493 408,589 365,535 298,353
DAC Amortization NA 278,161 225,900 171,915 115,847
VOBA Amortization NA (39,893) (22,760) 3,529 1,811
Policy Acquisition Costs 58,875 238,268 203,140 175,444 117,658
Amortization of Intangibles 1,137 5,355 13,920 31,200 NA
Impairment of Goodwill 0 0 0 0 0
Amrt of Intang & Goodwill Impair 1,137 5,355 13,920 31,200 NA
SG&A NA NA NA NA NA
Other Underwriting Expense 26,598 103,860 91,751 39,447 51,785
Underwriting & Other Expense 86,610 347,483 308,811 246,091 169,443
Interest Expense 2,419 9,781 9,866 3,247 723
Nonrecurring Expense 0 0 0 38,104 11,108
Total Expense 191,866 856,757 727,266 652,977 479,627
Net Income ($000)
Net Income before Taxes (15,804) (32,606) (4,239) 910 7,003
Provision for Taxes (3,288) (3,121) (4,633) (9,235) 1,305
Effective Tax Rate(%) NM NM NM NM 18.63
Net Income after Taxes (12,516) (29,485) 394 10,145 5,698
Other After-tax Items 0 0 0 0 0
Total Minority Interest Expense 0 0 0 0 0
Net Income before Extra (12,516) (29,485) 394 10,145 5,698
Extraordinary Items 0 0 0 0 0
Net Income (12,516) (29,485) 394 10,145 5,698
Net Income Attributable to Noncontrolling Int 207 387 104 0 0
Net Income Attributable to Parent (12,723) (29,872) 290 10,145 5,698
Preferred Dividends 0 0 0 0 0
Other Preferred Dividends after Net Income 0 0 0 0 0
Other Changes to Net Income 0 0 0 0 0
Net Income Avail to Common (12,723) (29,872) 290 10,145 5,698
Operating Income ($000)
Net Income before Extra (12,516) (29,485) 394 10,145 5,698
Realized Gains, after Tax NA NA NA NA NA
Other After-tax Operating Income Adjustments NA NA NA NA NA
Operating Income after Taxes 9,129 (46,173) 17,326 34,869 12,562
Comprehensive Income ($000)
Net Income (12,516) (29,485) 394 10,145 5,698
Change in Unrealized Gain (3,059) 20,550 (18,216) 8,399 (798)
Change in Foreign Currency Translations 0 0 0 0 0
Pension Fund Liability Adjustments 0 0 0 0 0
Change in Fair Value of Effective Hedges 0 0 0 0 0
Total Other Comprehensive Income (3,059) 20,550 (18,216) 8,399 (798)
Comprehensive Income (15,575) (8,935) (17,822) 18,544 4,900
Comprehensive Income: Noncontrolling Interests (26) 588 139 0 0
Comprehensive Income: Parent Company (15,549) (9,523) (17,961) 18,544 4,900
Share and Per Share Info ($)
Basic EPS before Extra (0.30) (0.70) 0.01 0.27 0.27
Basic EPS after Extra (0.30) (0.70) 0.01 0.27 0.27
Avg Basic Shares Out(actual) 42,805,527 42,763,423 42,650,629 37,152,768 21,417,486
Diluted EPS before Extra (0.30) (0.70) 0.01 0.27 0.26
Diluted EPS after Extraordinary (0.30) (0.70) 0.01 0.27 0.26
Operating EPS 0.21 (1.08) 0.40 0.93 0.58
Avg Diluted Shares Out(actual) 42,805,527 42,763,423 42,838,886 37,375,340 21,614,443
Common Dividends Declared per Share 0.06 0.24 0.24 0.24 0.23
P&C GAAP Underwriting Ratios (%)
Loss Ratio 53.70 66.40 59.30 62.40 65.30
Expense Ratio 45.30 46.30 45 48.70 39.60
Combined Ratio 99 112.70 104.30 111.10 104.90
Managed Care Ratios (%)
Reported Medical Care Ratio NA NA NA NA NA
Reported Administrative Ratio NA 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.