XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues        
Gross written premiums $ 338,351 $ 260,166 $ 844,005 $ 563,908
Ceded written premiums (81,587) (55,025) (221,507) (118,808)
Net written premiums 256,764 205,141 622,498 445,100
Change in net unearned premiums (54,648) (71,992) (81,618) (76,266)
Net earned premiums 202,116 133,149 540,880 368,834
Net investment income 14,880 15,797 45,327 38,622
Net realized investment (losses) gains (171) 210 1,183 2,376
Other income 4,041 2,209 12,272 7,373
Total revenues 220,866 151,365 599,662 417,205
Expenses        
Losses and loss adjustment expenses 150,445 83,326 386,898 233,491
Other operating expenses 54,260 43,579 156,189 124,732
Other expenses 119 (43) 351 36
Interest expense 2,304 2,079 6,651 6,294
Amortization of intangible assets 149 149 447 447
Total expenses 207,277 129,090 550,536 365,000
Income before taxes 13,589 22,275 49,126 52,205
Income tax expense 3,238 909 5,784 3,406
Net income 10,351 21,366 43,342 48,799
Other comprehensive income:        
Net unrealized gains (losses), net of taxes of $(136) and $2,535 in 2017 and $(373) and $2,271 in 2016 716 (1,672) 11,458 26,740
Total comprehensive income $ 11,067 $ 19,694 $ 54,800 $ 75,539
Per share data:        
Basic earnings per share (in dollars per share) $ 0.35 $ 0.73 $ 1.47 $ 1.68
Diluted earnings per share (in dollars per share) 0.34 0.71 1.43 1.64
Dividend declared per share (in dollars per share) $ 0.30 $ 0.20 $ 0.90 $ 0.60
Weighted-average common shares outstanding:        
Basic (in shares) 29,524,243 29,101,550 29,407,762 29,030,284
Diluted (in shares) 30,220,077 29,935,152 30,285,733 29,834,686