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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Net earned premiums $ 194,843 $ 198,410 $ 574,640 $ 589,327
Net investment income 9,718 11,947 30,344 34,272
Earnings (losses) from partnership investments 4,699 (139) 2,589 1,431
Net realized gains (losses) on investments 669 1,194 (683) 1,513
Change in net unrealized gains on equity investments 7,521 (387) (5,639) 15,168
Net impairment losses on investments (a)   (123)   (397)
Credit loss benefit (expense) 182   (2,289)  
Finance and other service income 4,768 4,371 12,252 12,540
Total revenue 222,400 215,273 611,214 653,854
Expenses        
Losses and loss adjustment expenses 97,054 134,966 308,774 383,386
Underwriting, operating and related expenses 68,596 60,845 195,192 182,187
Interest expense 131 22 308 67
Total expenses 165,781 195,833 504,274 565,640
Income before income taxes 56,619 19,440 106,940 88,214
Income tax expense 11,877 3,821 21,694 16,715
Net income $ 44,742 $ 15,619 $ 85,246 $ 71,499
Earnings per Weighted Average Common Share        
Basic (in dollars per share) $ 2.99 $ 1.02 $ 5.62 $ 4.68
Diluted (in dollars per share) 2.96 1.01 5.58 4.64
Cash dividends paid per common share (in dollars per share) $ 0.90 $ 0.90 $ 2.70 $ 2.50
Number of shares used in computing earnings per share:        
Basic (in shares) 14,907,809 15,220,902 15,085,914 15,194,469
Diluted (in shares) 15,030,277 15,360,908 15,204,155 15,337,331