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Condensed Consolidated Statements of Income - Unaudited - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues:    
Direct premiums $ 762,227 $ 702,637
Ceded premiums (395,973) (386,825)
Net premiums 366,254 315,812
Commissions and fees 234,044 190,069
Investment income net of investment expenses 35,198 28,892
Interest expense on surplus note (15,146) (13,472)
Net investment income 20,052 15,420
Realized investment gains (losses) 1,766 (10,030)
Other, net 15,595 13,665
Revenues 637,711 524,936
Benefits and expenses:    
Benefits and claims 183,789 134,813
Amortization of deferred policy acquisition costs 66,105 70,311
Sales commissions 121,894 96,607
Insurance expenses 48,766 48,709
Insurance commissions 8,740 6,844
Interest expense 7,145 7,192
Other operating expenses 72,963 65,914
Total benefits and expenses 509,402 430,390
Income before income taxes 128,309 94,546
Income taxes 30,437 22,077
Net income $ 97,872 $ 72,469
Earnings per share:    
Basic earnings per share $ 2.47 $ 1.75
Diluted earnings per share $ 2.46 $ 1.75
Weighted-average shares used in computing earnings per share:    
Basic 39,456 41,131
Diluted 39,581 41,239
Supplemental disclosures:    
Total impairment losses $ 154 $ 3,701
Other net realized investment gains (losses) 496 343
Net gains (losses) recognized on equity securities 1,424 (6,672)
Net realized investment gains (losses) $ 1,766 $ (10,030)