Quarterly report pursuant to Section 13 or 15(d)

Description of Business and Summary of Significant Accounting Policies (Tables)

v3.21.2
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)