Strong Quarterly Performance
Net income of $10.9 million, diluted earnings per share of $0.74, a GAAP combined ratio of 72.7%, and an annualized return on equity of 43%.
Significant Premium Growth
Direct written premium grew 14%, with an increase in net investment income by 52%.
Improved Financial Guidance
Guidance raised for net combined ratio, EPS, and ROE, with anticipated net earned premiums of $187 million and direct-written premium growth between 12% and 17%.
Expansion Initiatives
State expansion initiative progressing, with plans to present a multiyear road map in the first half of next year.
Strong Capital Position
Shareholders' equity exceeded $107 million, an increase of 80% year-over-year, with no debt at the holding company.