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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Net premiums written $ 134,063 $ 108,513 $ 253,360 $ 208,979
Increase in unearned premiums (7,500) (7,802) (9,146) (13,865)
Net premiums earned 126,563 100,711 244,214 195,114
Net investment income 9,400 6,701 17,835 12,884
Realized investment gains, net 544 583 1,199 1,054
Other income 1,099 170 1,950 1,579
Total revenues 137,606 108,165 265,198 210,631
Losses and expenses:        
Provision for losses and LAE 1,770 2,964 5,463 6,695
Other underwriting and operating expenses 35,686 31,409 72,018 62,797
Interest expense 1,189 0 1,905 0
Total losses and expenses 38,645 34,373 79,386 69,492
Income before income taxes 98,961 73,792 185,812 141,139
Income tax expense 26,843 21,534 47,096 40,930
Net income $ 72,118 $ 52,258 $ 138,716 $ 100,209
Earnings per share:        
Basic (in dollars per share) $ 0.79 $ 0.57 $ 1.52 $ 1.10
Diluted (in dollars per share) $ 0.77 $ 0.57 $ 1.49 $ 1.09
Weighted average shares outstanding:        
Basic (in shares) 91,381 90,912 91,320 90,848
Diluted (in shares) 93,162 92,138 93,093 91,999
Net income $ 72,118 $ 52,258 $ 138,716 $ 100,209
Other comprehensive income (loss):        
Change in unrealized appreciation of investments, net of tax expense of $3,649 and $5,049 in the three months ended June 30, 2017 and 2016 and $5,710 and $10,763 in the six months ended June 30, 2017 and 2016 8,470 10,702 13,320 24,061
Total other comprehensive income 8,470 10,702 13,320 24,061
Comprehensive income $ 80,588 $ 62,960 $ 152,036 $ 124,270