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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Net earned premiums $ 188,333 $ 194,297 $ 375,421 $ 387,147
Net investment income 11,635 9,774 22,225 21,306
Earnings from partnership investments 5,967 2,614 8,799 6,905
Net realized gains on investments 3,152 3,406 7,362 6,281
Change in net unrealized gains on equity securities (28,885) 8,654 (41,919) 14,861
Credit loss (expense) benefit   193   374
Finance and other service income 3,403 3,937 6,720 7,909
Total revenue 183,605 222,875 378,608 444,783
Expenses        
Losses and loss adjustment expenses 112,715 110,161 235,881 221,656
Underwriting, operating and related expenses 60,872 65,089 122,466 130,113
Interest expense 131 130 260 259
Total expenses 173,718 175,380 358,607 352,028
Income before income taxes 9,887 47,495 20,001 92,755
Income tax expense 1,986 9,828 4,262 18,914
Net income $ 7,901 $ 37,667 $ 15,739 $ 73,841
Earnings per weighted average common share:        
Basic (in dollars per share) $ 0.54 $ 2.50 $ 1.07 $ 4.96
Diluted (in dollars per share) 0.53 2.49 1.06 4.93
Cash dividends paid per common share (in dollars per share) $ 0.90 $ 0.90 $ 1.80 $ 1.80
Number of shares used in computing earnings per share:        
Basic (in shares) 14,599,057 14,983,365 14,613,399 14,817,312
Diluted (in shares) 14,702,627 15,079,495 14,715,099 14,913,561