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Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Gross written premiums $ 301,639 $ 380,003 $ 585,480 $ 707,337
Ceded written premiums (135,882) (140,093) (285,069) (259,686)
Net written premiums 165,757 239,910 300,411 447,651
Change in net unearned premiums (16,942) (40,796) (5,678) (58,385)
Net earned premiums 148,815 199,114 294,733 389,266
Net investment income 15,350 17,535 36,186 36,966
Net realized and unrealized gains (losses) on investments 21,593 1,063 (36,814) 2,688
Other income 991 2,662 2,928 5,581
Total revenues 186,749 220,374 297,033 434,501
Expenses        
Losses and loss adjustment expenses 98,746 147,053 195,602 286,980
Other operating expenses 43,397 44,843 95,018 90,595
Other expenses 1,732 683 1,732 683
Interest expense 2,965 2,684 5,841 5,492
Amortization of intangible assets 149 149 298 298
Total expenses 146,989 195,412 298,491 384,048
Income (loss) before taxes 39,760 24,962 (1,458) 50,453
Income tax expense (benefit) 4,146 4,655 (257) 7,418
Net income (loss) 35,614 20,307 (1,201) 43,035
Other comprehensive income:        
Net unrealized gains, net of taxes of $6,927 and $5,535 in 2020 and $1,865 and $3,311 in 2019 46,313 20,732 42,394 40,992
Total comprehensive income $ 81,927 $ 41,039 $ 41,193 $ 84,027
Per share data:        
Basic earnings per share (in dollars per share) $ 1.17 $ 0.67 $ (0.04) $ 1.43
Diluted earnings per share (in dollars per share) 1.16 0.66 (0.04) 1.41
Dividend declared per share (in dollars per share) $ 0.30 $ 0.30 $ 0.60 $ 0.60
Weighted-average common shares outstanding:        
Basic (in shares) 30,529,241 30,246,420 30,502,774 30,153,426
Diluted (in shares) 30,782,609 30,689,074 30,502,774 30,581,205