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Unaudited Condensed Consolidated Statements Of Operations And Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
REVENUES:        
Gross premiums written $ 825,970 $ 760,405 $ 1,706,584 $ 1,661,798
Premiums ceded (222,301) (206,481) (330,387) (336,260)
Net premiums written 603,669 553,924 1,376,197 1,325,538
Change in unearned premiums 42,707 (16,677) (161,273) (258,006)
Net premiums earned 646,376 537,247 1,214,924 1,067,532
Net investment income 42,760 36,793 87,311 84,412
Net realized investment (losses) gains (20,182) 85,217 24,843 139,422
Other income 924 0 1,778 0
Total revenues 669,878 659,257 1,328,856 1,291,366
EXPENSES:        
Net losses and loss expenses 431,521 314,855 756,697 590,141
Acquisition costs 100,618 74,279 179,317 142,001
General and administrative expenses 108,363 96,188 205,501 176,528
Other expenses 1,235 0 3,058 0
Amortization of intangible assets 2,819 634 3,452 1,267
Interest expense 14,466 14,592 28,803 29,126
Foreign exchange loss 1,265 651 11,162 700
Total expenses 660,287 501,199 1,187,990 939,763
Income before income taxes 9,591 158,058 140,866 351,603
Income tax expense 133 6,195 7,052 22,768
NET INCOME 9,458 151,863 133,814 328,835
Other comprehensive loss:        
Other comprehensive loss: foreign currency translation adjustment, net of tax (3,272) 0 (3,272) 0
COMPREHENSIVE INCOME $ 6,186 $ 151,863 $ 130,542 $ 328,835
PER SHARE DATA        
Basic earnings per share $ 0.10 $ 1.55 $ 1.42 $ 3.33
Diluted earnings per share $ 0.10 $ 1.52 $ 1.40 $ 3.27
Weighted average common shares outstanding 92,441,730 97,809,639 94,178,989 98,672,618
Weighted average common shares and common share equivalents outstanding 93,984,226 99,724,802 95,830,455 100,691,568
Dividends paid per share $ 0.225 $ 0.167 $ 0.45 $ 0.333