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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues:        
Premiums earned $ 106,464 $ 69,233 $ 211,603 $ 139,414
Net investment income 7,796 5,012 14,698 9,971
Net realized gains on investments 1,316 1,669 2,516 2,551
Other 854 976 1,970 1,794
Total revenues 116,430 76,890 230,787 153,730
Expenses:        
Losses and loss adjustment expenses 78,570 46,032 153,229 89,136
Commissions and other underwriting expenses 21,196 14,735 41,521 29,571
Other operating and general expenses 4,095 3,996 8,636 7,622
Expense on amounts withheld 979 926 1,819 1,735
Interest expense 55 92 109 104
Total expenses 104,895 65,781 205,314 128,168
Income before income taxes 11,535 11,109 25,473 25,562
Provision for income taxes 3,332 3,491 7,742 7,358
Net income 8,203 7,618 17,731 18,204
Net income per share - basic $ 0.42 $ 0.39 $ 0.92 $ 0.94
Net income per share - diluted $ 0.42 $ 0.39 $ 0.91 $ 0.94
Weighted average of common shares outstanding - basic 19,368 19,343 19,367 19,336
Weighted average of common shares outstanding - diluted 19,482 19,456 19,479 19,424
Cash dividends per common share $ 0.09 $ 0.08 $ 0.18 $ 0.16
Supplemental disclosure of Net realized gains on investments        
Net realized gains before impairment losses 1,316 1,770 2,516 2,652
Total losses on securities with impairment charges        
Non-credit portion in other comprehensive income   (101)   (101)
Net impairment charges recognized in earnings   (101)   (101)
Net realized gains on investments $ 1,316 $ 1,669 $ 2,516 $ 2,551