XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Gross written premiums $ 293,378 $ 281,475 $ 591,494 $ 505,654
Ceded written premiums (104,772) (73,651) (191,910) (139,920)
Net written premiums 188,606 207,824 399,584 365,734
Change in net unearned premiums 19,604 (23,747) 9,568 (26,970)
Net earned premiums 208,210 184,077 409,152 338,764
Net investment income 16,135 13,714 29,391 30,447
Net realized and unrealized (losses) gains on investments (64) 307 (874) 1,354
Other income 3,760 4,296 8,716 8,231
Total revenues 228,041 202,394 446,385 378,796
Expenses        
Losses and loss adjustment expenses 154,595 131,084 298,367 236,453
Other operating expenses 51,751 53,036 106,534 101,929
Other expenses 93 346 97 232
Interest expense 2,946 2,224 5,468 4,347
Amortization of intangible assets 149 149 298 298
Total expenses 209,534 186,839 410,764 343,259
Income before taxes 18,507 15,555 35,621 35,537
Income tax expense 1,523 1,014 3,004 2,546
Net income 16,984 14,541 32,617 32,991
Other comprehensive (loss) income:        
Net unrealized (losses) gains, net of taxes of $(183) and $(727) in 2018 and $1,157 and $2,671 in 2017 (6,558) 6,708 (25,105) 10,742
Total comprehensive income $ 10,426 $ 21,249 $ 7,512 $ 43,733
Per share data:        
Basic earnings per share (in dollars per share) $ 0.57 $ 0.49 $ 1.09 $ 1.12
Diluted earnings per share (in dollars per share) 0.56 0.48 1.08 1.09
Dividend declared per share (in dollars per share) $ 0.30 $ 0.30 $ 0.60 $ 0.60
Weighted-average common shares outstanding:        
Basic (in shares) 29,882,988 29,406,877 29,823,982 29,348,557
Diluted (in shares) 30,293,933 30,307,099 30,243,946 30,317,585