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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Direct premiums $ 616,587 $ 587,882 $ 1,825,906 $ 1,753,589
Ceded premiums (399,676) (393,987) (1,201,692) (1,198,382)
Net premiums 216,911 193,895 624,214 555,207
Commissions and fees 134,282 132,368 400,005 404,353
Investment income net of investment expenses 24,356 22,487 74,742 67,918
Interest expense on surplus note (4,957) (3,772) (13,716) (8,954)
Net investment income 19,399 18,715 61,026 58,964
Realized investment gains (losses), including other-than- temporary impairment losses (35) (259) 2,623 1,623
Other, net 13,069 10,990 37,353 30,605
Total revenues 383,626 355,709 1,125,221 1,050,752
Benefits and expenses:        
Benefits and claims 93,022 88,599 272,983 253,621
Amortization of deferred policy acquisition costs 45,428 40,797 127,277 113,392
Sales commissions 66,700 67,402 203,489 207,358
Insurance expenses 32,837 30,266 98,873 93,365
Insurance commissions 4,709 4,619 13,328 11,953
Interest expense 7,184 8,718 21,534 26,036
Other operating expenses 45,309 40,355 137,206 126,439
Total benefits and expenses 295,189 280,756 874,690 832,164
Income before income taxes 88,437 74,953 250,531 218,588
Income taxes 30,400 25,603 87,991 76,664
Net income $ 58,037 $ 49,350 $ 162,540 $ 141,924
Earnings per share:        
Basic earnings per share $ 1.22 $ 0.98 $ 3.38 $ 2.73
Diluted earnings per share $ 1.22 $ 0.98 $ 3.37 $ 2.73
Weighted-average shares used in computing earnings per share:        
Basic 47,008 50,082 47,736 51,494
Diluted 47,051 50,104 47,775 51,526
Supplemental disclosures:        
Total impairment losses $ (478) $ (1,564) $ (3,308) $ (2,433)
Net impairment losses recognized in earnings (478) (1,564) (3,308) (2,433)
Other net realized investment gains (losses) 443 1,305 5,931 4,056
Realized investment gains (losses), including other-than- temporary impairment losses $ (35) $ (259) $ 2,623 $ 1,623
Dividends declared per share $ 0.18 $ 0.16 $ 0.52 $ 0.48