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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUE:        
Gross premiums written $ 194,341 $ 155,985 $ 541,053 $ 425,183
Decrease in gross unearned premiums (20,821) (27,252) (56,446) (60,286)
Gross premiums earned 173,520 128,733 484,607 364,897
Ceded premiums earned (53,299) (44,730) (148,837) (122,394)
Net premiums earned 120,221 84,003 335,770 242,503
Investment income 2,663 2,413 7,786 6,725
Net realized gains (losses) 106 323 478 312
Other revenue 4,212 3,067 11,650 8,002
Total revenue 127,202 89,806 355,684 257,542
EXPENSES:        
Losses and loss adjustment expenses 72,746 40,432 199,615 137,030
Policy acquisition costs 31,333 23,756 84,086 64,140
Operating expenses 5,558 4,329 15,326 12,679
General and administrative expenses 12,329 8,331 31,759 22,244
Interest expense 206 81 397 232
Total expenses 122,172 76,929 331,183 236,325
Income before other income 5,030 12,877 24,501 21,217
Other income 11 107 80 292
Income before income taxes 5,041 12,984 24,581 21,509
Provision for income taxes 1,618 4,901 8,366 7,953
Net income 3,423 8,083 16,215 13,556
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains (losses) on investments (3,495) 641 10,305 (1,722)
Reclassification adjustment for net realized investment (gains) losses (106) (323) (478) (312)
Income tax benefit (expense) related to items of other comprehensive income 1,298 (123) (3,776) 786
Total comprehensive income $ 1,120 $ 8,278 $ 22,266 $ 12,308
Weighted-average shares outstanding        
Weighted-average shares outstanding (in shares) 21,448,892 21,290,759 21,406,599 21,193,825
Weighted-average diluted shares (in shares) 21,643,401 21,528,546 21,604,135 21,427,398
Earnings Per Share        
Basic earnings per share (in usd per share) $ 0.16 $ 0.38 $ 0.76 $ 0.64
Diluted earnings per share (in usd per share) 0.16 0.38 0.75 0.63
Dividends declared per share (in usd per share) $ 0.06 $ 0.05 $ 0.17 $ 0.15