XML 116 R24.htm IDEA: XBRL DOCUMENT v3.8.0.1
Quarterly Results of Operations (unaudited)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Data [Abstract]  
Quarterly Results of Operations (unaudited)
Quarterly Results of Operations (unaudited)
The following is a summary of unaudited quarterly results of operations for 2017 and 2016:
 
2017*
(In thousands, except per share data)
1st
 
2nd
 
3rd
 
4th
Net premiums earned
$
182,903

 
$
180,353

 
$
192,303

 
$
182,972

Net losses and loss adjustment expenses:
 
 
 
 
 
 
 
Current year
$
147,927

 
$
144,562

 
$
161,631

 
$
149,399

Favorable development of reserves established in prior years, net
$
(28,776
)
 
$
(29,012
)
 
$
(32,275
)
 
$
(44,297
)
Net income
$
41,455

 
$
19,518

 
$
28,949

 
$
17,342

Basic earnings per share
$
0.78

 
$
0.37

 
$
0.54

 
$
0.32

Diluted earnings per share
$
0.77

 
$
0.36

 
$
0.54

 
$
0.32

 
 
 
 
 
 
 
 
 
2016*
(In thousands, except per share data)
1st
 
2nd
 
3rd
 
4th
Net premiums earned
$
177,579

 
$
176,732

 
$
185,275

 
$
193,694

Net losses and loss adjustment expenses:
 
 
 
 
 
 
 
Current year
$
139,660

 
$
143,668

 
$
147,093

 
$
156,585

Favorable development of reserves established in prior years, net
$
(28,705
)
 
$
(36,769
)
 
$
(29,011
)
 
$
(49,292
)
Net income
$
19,317

 
$
43,081

 
$
33,834

 
$
54,848

Basic earnings per share
$
0.36

 
$
0.81

 
$
0.64

 
$
1.03

Diluted earnings per share
$
0.36

 
$
0.81

 
$
0.63

 
$
1.02

*Due to rounding, the sum of quarterly amounts may not equal the total amount for the respective year-to-date periods