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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Net earned premiums $ 758,505 $ 774,328 $ 771,078
Net investment income 46,725 44,135 41,045
Earnings from partnership investments 12,484 19,829 6,901
Net realized gains on investments 9,190 14,885 957
Change in unrealized gains on equity securities (44,386) 16,130 10,449
Credit loss benefit (expense) 14 363 (1,054)
Commission income 566    
Finance and other service income 14,461 15,241 16,872
Total revenue 797,559 884,911 846,248
Expenses      
Losses and loss adjustment expenses 491,979 461,727 404,556
Underwriting, operating and related expenses 245,145 258,392 266,482
Other expense 330    
Interest expense 524 522 440
Total expenses 737,978 720,641 671,478
Income before income taxes 59,581 164,270 174,770
Income tax expense 13,020 33,560 36,559
Net income $ 46,561 $ 130,710 $ 138,211
Earnings per weighted average common share:      
Basic (in dollars per share) $ 3.17 $ 8.85 $ 9.25
Diluted (in dollars per share) 3.15 8.80 9.18
Cash dividends paid per common share (in dollars per share) $ 3.60 $ 3.60 $ 3.60
Number of shares used in computing earnings per share:      
Basic (in shares) 14,607,483 14,828,736 15,002,755
Diluted (in shares) 14,710,611 14,925,726 15,119,027