Income Statement

Financial Highlights
2019 FQ3 YTD
9/30/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
2015 FY
12/31/2015
Revenue ($000)
P&C Net Premiums Earned 564,046 689,276 585,490 456,931 335,958
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 564,046 689,276 585,490 456,931 335,958
Investment Income from Securities NA NA NA NA NA
Partnership Income NA NA NA NA NA
Net Investment Income 37,386 16,870 17,126 10,092 8,945
Realized Gain on Derivative Securities 0 0 0 0 0
Other Realized Security Gains 186 1,655 67 547 827
Realized Gain on Securities 186 1,655 67 547 827
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 12,320 15,226 51,204 19,060 11,866
Nonrecurring Revenue 0 0 0 0 0
Total Revenue 613,938 723,027 653,887 486,630 357,596
Expense ($000)
P&C Losses & LAE 368,924 408,589 365,535 298,353 183,108
L&H Total Claims & Policy Benefits 0 0 0 0 0
Managed Care Policy Expense 0 0 0 0 0
Total Policy Expense 368,924 408,589 365,535 298,353 183,108
DAC Amortization NA 225,900 171,915 115,847 86,414
VOBA Amortization NA (22,760) 3,529 1,811 987
Policy Acquisition Costs 178,717 203,140 175,444 117,658 87,401
Amortization of Intangibles NA NA NA NA NA
Impairment of Goodwill 0 0 0 0 0
Amrt of Intang & Goodwill Impair NA NA NA NA NA
SG&A NA NA NA NA NA
Other Underwriting Expense 86,264 105,671 70,647 51,785 44,901
Underwriting & Other Expense 264,981 308,811 246,091 169,443 132,302
Interest Expense 7,379 9,866 3,247 723 326
Nonrecurring Expense 0 0 38,104 11,108 0
Total Expense 641,284 727,266 652,977 479,627 315,736
Net Income ($000)
Net Income before Taxes (27,346) (4,239) 910 7,003 41,860
Provision for Taxes (5,912) (4,633) (9,235) 1,305 14,502
Effective Tax Rate(%) NM NM NM 18.63 34.64
Net Income after Taxes (21,434) 394 10,145 5,698 27,358
Other After-tax Items 0 0 0 0 0
Total Minority Interest Expense 0 0 0 0 0
Net Income before Extra (21,434) 394 10,145 5,698 27,358
Extraordinary Items 0 0 0 0 0
Net Income (21,434) 394 10,145 5,698 27,358
Net Income Attributable to Noncontrolling Int 280 104 0 0 0
Net Income Attributable to Parent (21,714) 290 10,145 5,698 27,358
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 (21,714) 290 10,145 5,698 27,358
Operating Income ($000)
Net Income before Extra (21,434) 394 10,145 5,698 27,358
Realized Gains, after Tax NA NA NA NA NA
Other After-tax Operating Income Adjustments NA NA NA NA NA
Operating Income after Taxes (30,169) 16,464 34,869 12,562 NA
Comprehensive Income ($000)
Net Income (21,434) 394 10,145 5,698 27,358
Change in Unrealized Gain 23,001 (18,216) 8,399 (798) (2,391)
Change in Foreign Currency Translations 0 0 0 0 0
Pension Fund Liability Adjustments 0 0 0 0 0
Change in Fair Value of Effective Hedges 0 0 0 0 0
Total Other Comprehensive Income 23,001 (18,216) 8,399 (798) (2,391)
Comprehensive Income 1,567 (17,822) 18,544 4,900 24,967
Comprehensive Income: Noncontrolling Interests 537 139 0 0 0
Comprehensive Income: Parent Company 1,030 (17,961) 18,544 4,900 24,967
Share and Per Share Info ($)
Basic EPS before Extra (0.51) 0.01 0.27 0.27 1.29
Basic EPS after Extra (0.51) 0.01 0.27 0.27 1.29
Avg Basic Shares Out(actual) 42,750,710 42,650,629 37,152,768 21,417,486 21,218,233
Diluted EPS before Extra (0.51) 0.01 0.27 0.26 1.28
Diluted EPS after Extraordinary (0.51) 0.01 0.27 0.26 1.28
Operating EPS (0.71) 0.38 0.93 0.58 NA
Avg Diluted Shares Out(actual) 42,750,710 42,838,886 37,375,340 21,614,443 21,452,540
Common Dividends Declared per Share 0.18 0.24 0.24 0.23 0.20
P&C GAAP Underwriting Ratios (%)
Loss Ratio 65.40 59.30 62.40 65.30 54.50
Expense Ratio 47.10 45 48.70 39.60 39.50
Combined Ratio 112.50 104.30 111.10 104.90 94
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.