Description of Business and Summary of Significant Accounting Policies (Tables)
|
9 Months Ended |
Sep. 30, 2021 |
|---|
| Description of Business and Summary of Significant Accounting Policies |
|
| Schedule of cash, cash equivalents and restricted cash |
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
December 31, 2020 |
Cash and cash equivalents |
|
$ |
410,217 |
|
$ |
196,046 |
Restricted cash and restricted cash equivalents - current |
|
|
4,614 |
|
|
11,407 |
Restricted cash and restricted cash equivalents - non-current |
|
|
1,000 |
|
|
— |
Cash, cash equivalents and restricted cash |
|
$ |
415,831 |
|
$ |
207,453 |
|
| Schedule of losses and LAE, gross of reinsurance |
|
|
|
|
|
|
2021 |
Losses and LAE reserve at April 5 |
|
$ |
84,366 |
Reinsurance recoverables on losses and LAE |
|
|
(82,898) |
Losses and LAE reserve, net of reinsurance recoverables at April 5 |
|
|
1,468 |
Net incurred losses and LAE during the current year |
|
|
15,744 |
Net claim and LAE payments during the current year |
|
|
(10,106) |
Reserve for losses and LAE, net of reinsurance recoverables, at end of year |
|
|
7,106 |
Reinsurance recoverables on losses and LAE |
|
|
80,631 |
Losses and LAE reserve at September 30 |
|
$ |
87,737 |
|
| Schedule of reinsurance on premiums written and earned |
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
|
Written |
|
Earned |
Direct premiums |
|
$ |
177,333 |
|
$ |
134,712 |
Ceded premiums |
|
|
(158,793) |
|
|
(126,743) |
Net premiums |
|
$ |
18,540 |
|
$ |
7,969 |
|
| Schedule of components of other insurance liabilities, current |
|
|
|
|
|
|
September 30, 2021 |
Ceded reinsurance premiums payable |
|
$ |
18,922 |
Funds held under reinsurance treaty |
|
|
2,600 |
Commissions payable, reinsurers and agents |
|
|
9,453 |
General and accrued expenses payable |
|
|
537 |
Advance premiums |
|
|
3,307 |
Other insurance liabilities, current |
|
$ |
34,819 |
|
| Schedule of components of other income (expense), net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Gain (loss) on remeasurement of debt |
|
$ |
— |
|
$ |
488 |
|
$ |
— |
|
$ |
(924) |
Gain (loss) on remeasurement of legacy preferred stock warrant liability |
|
|
— |
|
|
785 |
|
|
— |
|
|
(1,214) |
Other, net |
|
|
316 |
|
|
145 |
|
|
225 |
|
|
88 |
|
|
$ |
316 |
|
$ |
1,418 |
|
$ |
225 |
|
$ |
(2,050) |
|