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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Gross written premiums $ 380,003 $ 293,378 $ 707,337 $ 591,494
Ceded written premiums (140,093) (104,772) (259,686) (191,910)
Net written premiums 239,910 188,606 447,651 399,584
Change in net unearned premiums (40,796) 19,604 (58,385) 9,568
Net earned premiums 199,114 208,210 389,266 409,152
Net investment income 17,535 16,135 36,966 29,391
Net realized and unrealized gains (losses) on investments 1,063 (64) 2,688 (874)
Other income 2,662 3,760 5,581 8,716
Total revenues 220,374 228,041 434,501 446,385
Expenses        
Losses and loss adjustment expenses 147,053 154,595 286,980 298,367
Other operating expenses 44,843 51,751 90,595 106,534
Other expenses 683 93 683 97
Interest expense 2,684 2,946 5,492 5,468
Amortization of intangible assets 149 149 298 298
Total expenses 195,412 209,534 384,048 410,764
Income before taxes 24,962 18,507 50,453 35,621
Income tax expense 4,655 1,523 7,418 3,004
Net income 20,307 16,984 43,035 32,617
Other comprehensive income (loss):        
Net unrealized gains (losses), net of taxes of $1,865 and $3,311 in 2019 and $(183) and $(727) in 2018 20,732 (6,558) 40,992 (25,105)
Total comprehensive income $ 41,039 $ 10,426 $ 84,027 $ 7,512
Per share data:        
Basic earnings per share (in dollars per share) $ 0.67 $ 0.57 $ 1.43 $ 1.09
Diluted earnings per share (in dollars per share) 0.66 0.56 1.41 1.08
Dividend declared per share (in dollars per share) $ 0.30 $ 0.30 $ 0.60 $ 0.60
Weighted-average common shares outstanding:        
Basic (in shares) 30,246,420 29,882,988 30,153,426 29,823,982
Diluted (in shares) 30,689,074 30,293,933 30,581,205 30,243,946