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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Net premiums earned $ 280,859 $ 256,127
Investment income, net of investment expenses 16,342 12,722
Net investment gains (losses) (includes reclassifications for net unrealized investment gains (losses) on available-for-sale securities of $(2,564) in 2024 and $(540) in 2023; previously included in accumulated other comprehensive income (loss)) (1,202) (1,745)
Other income (loss) 0 0
Total revenues 295,999 267,104
Benefits, Losses and Expenses    
Losses and loss settlement expenses 179,646 174,597
Amortization of deferred policy acquisition costs 65,690 59,835
Other underwriting expenses (includes reclassifications for employee benefit costs of $0 in 2024 and $52 in 2023; previously included in accumulated other comprehensive income (loss)) 32,465 30,303
Interest expense 859 797
Other nonunderwriting expenses 1,055 1,573
Total benefits, losses and expenses 279,715 267,105
Income (loss) before income taxes 16,284 (1)
Federal income tax expense (benefit) (includes reclassifications of $538 in 2024 and $124 in 2023; previously included in accumulated other comprehensive income (loss)) 2,782 (695)
Net Income (loss) 13,502 694
Other comprehensive income (loss)    
Change in net unrealized gain (loss) on investments (11,096) 18,004
Change in liability for underfunded employee benefit plans (724) (820)
Foreign currency translation adjustment (23) 0
Other comprehensive income (loss), before tax and reclassification adjustments (11,843) 17,184
Income tax effect 2,482 (3,609)
Other comprehensive income (loss), after tax, before reclassification adjustments (9,361) 13,575
Reclassification adjustment for net investment losses included in income 2,564 540
Reclassification adjustment for employee benefit costs included in expense 0 52
Total reclassification adjustments, before tax 2,564 592
Income tax effect (538) (124)
Total reclassification adjustments, after tax 2,026 468
Comprehensive income (loss) $ 6,167 $ 14,737
Diluted weighted average common shares outstanding 25,834,494 25,500,115
Earnings Per Share [Abstract]    
Basic (in dollars per share) $ 0.53 $ 0.03
Diluted (in dollars per share) $ 0.52 $ 0.03