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Condensed Consolidated Statements of Income - 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:        
Direct premiums $ 637,426 $ 612,189 $ 1,265,124 $ 1,209,319
Ceded premiums (406,043) (406,683) (805,811) (802,017)
Net premiums 231,383 205,506 459,313 407,302
Commissions and fees 148,317 136,902 292,584 265,723
Investment income net of investment expenses 25,829 24,994 51,442 50,387
Interest expense on surplus note (6,087) (4,605) (11,806) (8,760)
Net investment income 19,742 20,389 39,636 41,627
Realized investment gains (losses), including other-than- temporary impairment losses 104 3,440 238 2,657
Other, net 14,150 12,757 27,089 24,284
Total revenues 413,696 378,994 818,860 741,593
Benefits and expenses:        
Benefits and claims 99,512 88,984 201,897 179,961
Amortization of deferred policy acquisition costs 47,861 38,720 99,710 81,849
Sales commissions 75,440 70,146 149,144 136,789
Insurance expenses 36,920 32,906 74,541 66,035
Insurance commissions 5,157 4,472 10,057 8,619
Interest expense 7,143 7,178 14,270 14,350
Other operating expenses 45,274 44,708 98,011 91,898
Total benefits and expenses 317,307 287,114 647,630 579,501
Income before income taxes 96,389 91,880 171,230 162,092
Income taxes 33,282 32,554 56,054 57,590
Net income $ 63,107 $ 59,326 $ 115,176 $ 104,502
Earnings per share:        
Basic earnings per share $ 1.36 $ 1.23 $ 2.48 $ 2.15
Diluted earnings per share $ 1.36 $ 1.23 $ 2.47 $ 2.15
Weighted-average shares used in computing earnings per share:        
Basic 45,984 47,658 46,142 48,104
Diluted 46,071 47,708 46,222 48,141
Supplemental disclosures:        
Total impairment losses $ (484) $ (803) $ (695) $ (2,830)
Net impairment losses recognized in earnings (484) (803) (695) (2,830)
Other net realized investment gains 588 4,243 933 5,487
Realized investment gains (losses), including other-than- temporary impairment losses $ 104 $ 3,440 $ 238 $ 2,657
Dividends declared per share $ 0.19 $ 0.17 $ 0.38 $ 0.34