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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUE:        
Gross premiums written $ 155,985 $ 105,065 $ 425,183 $ 322,986
Increase in gross unearned premiums (27,252) (4,214) (60,286) (29,901)
Gross premiums earned 128,733 100,851 364,897 293,085
Ceded premiums earned (44,730) (35,741) (122,394) (99,757)
Net premiums earned 84,003 65,110 242,503 193,328
Investment income 2,413 1,807 6,725 4,891
Net realized gains (losses) 323 (69) 312 (24)
Other revenue 3,067 1,999 8,002 5,863
Total revenue 89,806 68,847 257,542 204,058
EXPENSES:        
Losses and loss adjustment expenses 40,432 30,140 137,030 86,605
Policy acquisition costs 23,756 17,291 64,140 48,668
Operating expenses 4,329 3,086 12,679 8,453
General and administrative expenses 8,331 4,709 22,244 13,394
Interest expense 81 98 232 325
Total expenses 76,929 55,324 236,325 157,445
Income before other income 12,877 13,523 21,217 46,613
Other income 107 0 292 16
Income before income taxes 12,984 13,523 21,509 46,629
Provision for income taxes 4,901 4,883 7,953 17,010
Net income 8,083 8,640 13,556 29,619
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains (losses) on investments 641 (1,249) (1,722) 4,401
Reclassification adjustment for net realized investment (gains) losses (323) 69 (312) 24
Income tax benefit (expense) related to items of other comprehensive income (123) 456 786 (1,710)
Total comprehensive income $ 8,278 $ 7,916 $ 12,308 $ 32,334
Weighted average shares outstanding        
Weighted-average shares outstanding (in shares) 21,290,759 20,745,245 21,193,825 19,658,199
Weighted-average diluted shares (in shares) 21,528,546 20,843,603 21,427,398 19,756,411
Earnings per share        
Basic earnings per share (in usd per share) $ 0.38 $ 0.42 $ 0.64 $ 1.51
Diluted earnings per share (in usd per share) 0.38 0.41 0.63 1.50
Dividends declared per share (in usd per share) $ 0.05 $ 0.04 $ 0.15 $ 0.12