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Unaudited Condensed Consolidated Statements Of Operations And Comprehensive Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES:        
Gross premiums written $ 707,884 $ 580,893 $ 2,369,682 $ 2,183,174
Premiums ceded (139,142) (127,816) (475,402) (453,823)
Net premiums written 568,742 453,077 1,894,280 1,729,351
Change in unearned premiums (27,005) 57,696 (285,011) (248,079)
Net premiums earned 541,737 510,773 1,609,269 1,481,272
Net investment income 43,412 39,271 127,824 110,294
Net realized investment (losses) gains (35,136) 27,487 104,286 (8,074)
Other income 1,032 0 1,032 0
Total revenues 551,045 577,531 1,842,411 1,583,492
EXPENSES:        
Net losses and loss expenses 336,090 276,970 926,231 807,276
Acquisition costs 72,403 65,114 214,404 186,416
General and administrative expenses 88,294 88,553 264,822 251,818
Other expense 6,575 0 6,575 0
Amortization of intangible assets 633 633 1,900 1,900
Interest expense 14,325 14,094 43,451 42,416
Foreign exchange loss 278 4,353 978 7,361
Total expenses 518,598 449,717 1,458,361 1,297,187
Income before income taxes 32,447 127,814 384,050 286,305
Income tax expense 1,532 4,971 24,300 6,332
NET INCOME 30,915 122,843 359,750 279,973
Other comprehensive income 0 0 0 0
COMPREHENSIVE INCOME $ 30,915 $ 122,843 $ 359,750 $ 279,973
PER SHARE DATA        
Basic earnings per share $ 0.32 $ 1.20 $ 3.67 $ 2.72
Diluted earnings per share $ 0.31 $ 1.18 $ 3.60 $ 2.66
Weighted average common shares outstanding 96,458,231 101,974,077 97,926,378 103,020,681
Weighted average common shares and common share equivalents outstanding 98,444,238 104,184,579 99,965,296 105,393,276
Dividends paid per share $ 0.225 $ 0.167 $ 0.559 $ 0.292