2018 Q2 Form 10-Q Financial Statement

#000144889318000063 Filed on August 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $173.8M $137.6M
YoY Change 26.28% 27.22%
Cost Of Revenue $1.770M
YoY Change -40.28%
Gross Profit $135.8M
YoY Change 29.12%
Gross Profit Margin 98.71%
Selling, General & Admin $22.30M $22.70M
YoY Change -1.76% 11.27%
% of Gross Profit 16.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $800.0K $1.000M
YoY Change -20.0% 0.0%
% of Gross Profit 0.74%
Operating Expenses $38.20M $37.50M
YoY Change 1.87% 9.01%
Operating Profit $98.34M
YoY Change 38.89%
Interest Expense $2.618M $1.189M
YoY Change 120.19%
% of Operating Profit 1.21%
Other Income/Expense, Net
YoY Change
Pretax Income $132.9M $98.96M
YoY Change 34.3% 34.11%
Income Tax $21.15M $26.84M
% Of Pretax Income 15.92% 27.12%
Net Earnings $111.8M $72.12M
YoY Change 54.96% 38.0%
Net Earnings / Revenue 64.31% 52.41%
Basic Earnings Per Share $1.15 $0.79
Diluted Earnings Per Share $1.14 $0.77
COMMON SHARES
Basic Shares Outstanding 97.43M shares 91.38M shares
Diluted Shares Outstanding 97.87M shares 93.16M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $24.66M $27.67M
Short-Term Investments
Other Short-Term Assets $174.3M $215.4M
YoY Change -19.08% 43.79%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $174.3M $215.4M
YoY Change -19.08% 43.79%
LONG-TERM ASSETS
Property, Plant & Equipment $7.295M $7.955M
YoY Change -8.3% -11.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.556B $1.841B
YoY Change 38.84% 28.27%
Other Assets
YoY Change
Total Long-Term Assets $2.675B $1.937B
YoY Change 38.07% 28.45%
TOTAL ASSETS
Total Short-Term Assets $174.3M $215.4M
Total Long-Term Assets $2.675B $1.937B
Total Assets $2.849B $2.153B
YoY Change 32.35% 29.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $26.40M $22.30M
YoY Change 18.39% -6.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.40M $22.30M
YoY Change 18.39% -6.3%
LONG-TERM LIABILITIES
Long-Term Debt $223.3M $173.2M
YoY Change 28.93%
Other Long-Term Liabilities $14.50M $19.80M
YoY Change -26.77% -7.48%
Total Long-Term Liabilities $237.8M $193.0M
YoY Change 23.21% 801.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.40M $22.30M
Total Long-Term Liabilities $237.8M $193.0M
Total Liabilities $745.9M $655.0M
YoY Change 13.87% 59.91%
SHAREHOLDERS EQUITY
Retained Earnings $1.038B $575.0M
YoY Change 80.51% 83.15%
Common Stock $1.105B $921.9M
YoY Change 19.86% 1.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.104B $1.498B
YoY Change
Total Liabilities & Shareholders Equity $2.849B $2.153B
YoY Change 32.35% 29.83%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $111.8M $72.12M
YoY Change 54.96% 38.0%
Depreciation, Depletion And Amortization $800.0K $1.000M
YoY Change -20.0% 0.0%
Cash From Operating Activities $120.8M $66.50M
YoY Change 81.65% 21.79%
INVESTING ACTIVITIES
Capital Expenditures -$1.600M -$700.0K
YoY Change 128.57% -12.5%
Acquisitions
YoY Change
Other Investing Activities -$86.90M -$105.2M
YoY Change -17.4% 65.15%
Cash From Investing Activities -$88.50M -$105.9M
YoY Change -16.43% 64.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -40.50M 47.30M
YoY Change -185.62% -2250.0%
NET CHANGE
Cash From Operating Activities 120.8M 66.50M
Cash From Investing Activities -88.50M -105.9M
Cash From Financing Activities -40.50M 47.30M
Net Change In Cash -8.200M 7.900M
YoY Change -203.8% -165.29%
FREE CASH FLOW
Cash From Operating Activities $120.8M $66.50M
Capital Expenditures -$1.600M -$700.0K
Free Cash Flow $122.4M $67.20M
YoY Change 82.14% 21.3%

Facts In Submission

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IncreaseDecreaseInDeferredPolicyAcquisitionCosts
593000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
1656000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
3166000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1877000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
11379000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
9146000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
24113000 USD
CY2017Q2 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-7500000 USD
us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-9146000 USD
CY2018Q2 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-11446000 USD
us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-24113000 USD
CY2017Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1781000 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1773000 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
440000 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
546000 shares
CY2017Q2 us-gaap Interest Expense
InterestExpense
1189000 USD
us-gaap Interest Paid
InterestPaid
1772000 USD
us-gaap Interest Paid
InterestPaid
4700000 USD
CY2018Q2 us-gaap Interest Expense
InterestExpense
2618000 USD
us-gaap Interest Expense
InterestExpense
5068000 USD
CY2017Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
46850000 USD
us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
5833000 USD
us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
7013000 USD
CY2017Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
637000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1280000 USD
CY2018Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
660000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1340000 USD
CY2017Q4 us-gaap Investment Related Liabilities
InvestmentRelatedLiabilities
14999000 USD
CY2018Q2 us-gaap Investment Related Liabilities
InvestmentRelatedLiabilities
14464000 USD
CY2017Q4 us-gaap Investments
Investments
2305065000 USD
CY2018Q2 us-gaap Investments
Investments
2556013000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
733932000 USD
CY2018Q2 us-gaap Liabilities
Liabilities
745860000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2674368000 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2849431000 USD
CY2016Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
28142000 USD
CY2017Q2 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
29798000 USD
CY2018Q2 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
50016000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
97000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
211000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
3700000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
3710000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
3745000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
3700000 USD
CY2017Q2 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
1770000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
5463000 USD
CY2018Q2 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
1813000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
7122000 USD
CY2016Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
28142000 USD
CY2017Q2 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
29798000 USD
CY2017Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
46850000 USD
CY2018Q2 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
50016000 USD
CY2017Q4 us-gaap Line Of Credit
LineOfCredit
248591000 USD
CY2018Q2 us-gaap Line Of Credit
LineOfCredit
223341000 USD
CY2018Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
500000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
65196000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-56649000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-209460000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-304867000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
144403000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
342656000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
72118000 USD
us-gaap Net Income Loss
NetIncomeLoss
138716000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2050000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
5710000 USD
CY2017Q2 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
3649000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
111755000 USD
us-gaap Net Income Loss
NetIncomeLoss
222824000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
72118000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
138716000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
379747000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
111755000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
222824000 USD
CY2017Q2 us-gaap Net Investment Income
NetInvestmentIncome
9400000 USD
us-gaap Net Investment Income
NetInvestmentIncome
17835000 USD
CY2018Q2 us-gaap Net Investment Income
NetInvestmentIncome
15134000 USD
us-gaap Net Investment Income
NetInvestmentIncome
28848000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
36184000 USD
CY2018Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
26446000 USD
CY2017Q4 us-gaap Other Assets
OtherAssets
8730000 USD
CY2018Q2 us-gaap Other Assets
OtherAssets
20246000 USD
CY2017Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
8470000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
13320000 USD
CY2018Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-7246000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-35996000 USD
CY2018Q2 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
-1418000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
-6611000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
12119000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
19030000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-8664000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-42607000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
8470000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
13320000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
8068000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-7246000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-35996000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
3649000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
5710000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-1418000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-6611000 USD
CY2017Q2 us-gaap Other Income
OtherIncome
1099000 USD
us-gaap Other Income
OtherIncome
1950000 USD
CY2018Q2 us-gaap Other Income
OtherIncome
1237000 USD
us-gaap Other Income
OtherIncome
2231000 USD
CY2017Q2 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
CY2018Q2 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
3807000 USD
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
3956000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-1364000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
14317000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7239000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
31125000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2565000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
524000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
396919000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
505400000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1806000 USD
CY2017Q2 us-gaap Premiums Earned Net
PremiumsEarnedNet
126563000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
244214000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
164355000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6979000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7295000 USD
CY2018Q2 us-gaap Premiums Earned Net
PremiumsEarnedNet
156958000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
309516000 USD
CY2017Q2 us-gaap Premiums Written Net
PremiumsWrittenNet
134063000 USD
us-gaap Premiums Written Net
PremiumsWrittenNet
253360000 USD
CY2018Q2 us-gaap Premiums Written Net
PremiumsWrittenNet
168404000 USD
us-gaap Premiums Written Net
PremiumsWrittenNet
333629000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
75000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
15000000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
36318000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
52545000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
151583000 USD
CY2017Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
544000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
1199000 USD
CY2018Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
439000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
636000 USD
CY2016Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
0 USD
CY2017Q2 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
0 USD
CY2017Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
0 USD
CY2018Q2 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
40000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
815075000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1037899000 USD
CY2017Q2 us-gaap Revenues
Revenues
137606000 USD
us-gaap Revenues
Revenues
265198000 USD
CY2018Q2 us-gaap Revenues
Revenues
173768000 USD
us-gaap Revenues
Revenues
341231000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9288000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7432000 USD
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
711729 shares
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
312694000 USD
CY2018Q2 us-gaap Short Term Investments
ShortTermInvestments
327011000 USD
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
197698000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1343773000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1940436000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
2103571000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
12116000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
16528000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-6700000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-6653000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-9400000 USD
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
7577000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
31125000 USD
CY2017Q4 us-gaap Unearned Premiums
UnearnedPremiums
259672000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-9406000 USD
CY2017Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
1992371000 USD
CY2018Q2 us-gaap Trading Securities Debt
TradingSecuritiesDebt
2229002000 USD
CY2018Q2 us-gaap Unearned Premiums
UnearnedPremiums
283785000 USD
CY2018Q2 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
18226000 USD
CY2018Q2 us-gaap Variable Interest Entity Nonconsolidated Carrying Amount Assets
VariableInterestEntityNonconsolidatedCarryingAmountAssets
424412000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93162000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93093000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97866000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97908000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91381000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91320000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97426000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97362000 shares
us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides a reconciliation of the beginning and ending reserve balances for losses and </font><font style="font-family:inherit;font-size:10pt;">loss adjustment expenses</font><font style="font-family:inherit;font-size:10pt;"> (&#8220;</font><font style="font-family:inherit;font-size:10pt;">LAE</font><font style="font-family:inherit;font-size:10pt;">&#8221;) for the </font><font style="font-family:inherit;font-size:10pt;">six months ended June 30</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:70%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">($&#160;in&#160;thousands)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reserve for losses and LAE at beginning of period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46,850</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,142</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: Reinsurance recoverables</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net reserve for losses and LAE at beginning of period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46,850</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,142</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Add provision for losses and LAE, net of reinsurance, occurring in:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;">&#160;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;">&#160;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,528</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,116</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Prior years</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(9,406</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,653</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net incurred losses and LAE during the current period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,122</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,463</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deduct payments for losses and LAE, net of reinsurance, occurring in:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;">&#160;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;">&#160;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">211</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">97</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Prior years</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,745</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,710</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net loss and LAE payments during the current period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,956</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,807</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net reserve for losses and LAE at end of period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50,016</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,798</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Plus: Reinsurance recoverables</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reserve for losses and LAE at end of period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50,016</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,798</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Loans in default at end of period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,519</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,776</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>

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