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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Gross written premiums $ 148,236 $ 171,415 $ 463,505 $ 415,616
Ceded written premiums (25,308) (17,579) (73,104) (47,998)
Net written premiums 122,928 153,836 390,401 367,618
Change in net unearned premiums (223) (53,847) (44,625) (81,561)
Net earned premiums 122,705 99,989 345,776 286,057
Net investment income 9,510 9,996 34,496 33,189
Net realized investment (losses) gains (17) 2,033 (2,473) (1,678)
Other income 925 (201) 2,018 740
Total revenues 133,123 111,817 379,817 318,308
Expenses        
Losses and loss adjustment expenses 66,718 54,486 209,133 171,936
Other operating expenses 43,387 34,114 119,764 98,971
Other expenses 69 2,459 207 2,848
Interest expense 1,769 1,557 5,217 4,661
Amortization of intangible assets 149 149 447 447
Total expenses 112,092 92,765 334,768 278,863
Income before taxes 21,031 19,052 45,049 39,445
Income tax expense 2,070 1,884 4,222 3,626
Net income 18,961 17,168 40,827 35,819
Other comprehensive income:        
Net unrealized gains (losses), net of taxes of $(128) and $(1,272) in 2015 and $(776) and $2,882 in 2014 1,586 (4,420) (9,470) 7,084
Total comprehensive income $ 20,547 $ 12,748 $ 31,357 $ 42,903
Per share data:        
Basic earnings per share $ 0.66 $ 0.60 $ 1.43 $ 1.26
Diluted earnings per share 0.64 0.60 1.40 1.24
Dividend declared per share $ 0.16 $ 2.45 $ 0.48 $ 2.45
Weighted-average common shares outstanding:        
Basic 28,735,087 28,540,350 28,608,398 28,540,350
Diluted 29,418,251 28,793,815 29,244,520 28,787,500