v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Investments:    
Fixed maturity securities available for sale, at fair value (amortized cost: $530,992 in 2022; $426,122 in 2021) $ 476,794 $ 432,682
Equity securities, at fair value (cost: $42,111 in 2022; $31,834 in 2021) 35,468 33,261
Total investments 512,262 465,943
Cash and cash equivalents 29,471 50,284
Restricted cash 73 87
Accrued investment income 3,333 2,725
Premiums receivable, net 186,850 88,012
Deferred policy acquisition costs, net of ceding commissions 57,000 55,953
Reinsurance recoverable on unpaid losses and loss adjustment expenses 131,575 127,947
Reinsurance recoverable on paid losses and loss adjustment expenses 45,393 29,368
Ceded unearned premiums 182,657 58,315
Prepaid expenses and other assets 46,414 37,072
Deferred tax assets, net 12,200  
Property and equipment, net 663 527
Intangible assets, net 8,575 9,501
Total assets 1,216,466 925,734
Liabilities:    
Accounts payable and other accrued liabilities 20,655 21,284
Reserve for losses and loss adjustment expenses 205,823 173,366
Unearned premiums 443,463 284,665
Ceded premium payable 145,918 37,460
Funds held under reinsurance treaty 6,362 10,882
Deferred tax liabilities, net   3,908
Borrowings from credit agreements 26,400  
Total liabilities 848,621 531,565
Stockholders' equity:    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of September 30, 2022 and December 31, 2021
Common stock, $0.0001 par value, 500,000,000 shares authorized, 25,229,486 and 25,428,929 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively 3 3
Additional paid-in capital 330,381 318,902
Accumulated other comprehensive income (loss) (42,629) 5,312
Retained earnings 80,090 69,952
Total stockholders' equity 367,845 394,169
Total liabilities and stockholders' equity $ 1,216,466 $ 925,734