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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues:    
Gross written premiums $ 245,513 $ 168,876
Ceded written premiums (29,015) (24,578)
Net written premiums 216,498 144,298
Change in unearned premiums (37,936) (21,257)
Net earned premiums 178,562 123,041
Net investment income 9,088 6,942
Change in the fair value of equity securities (7,751) 7,091
Net realized investment gains 295 1,198
Other income 124 11
Total revenues 180,318 138,283
Expenses:    
Losses and loss adjustment expenses 102,505 70,260
Underwriting, acquisition and insurance expenses 38,545 28,136
Other expenses 396 448
Total expenses 141,446 98,844
Income before income taxes 38,872 39,439
Total income tax expense 7,081 7,360
Net income 31,791 32,079
Other comprehensive income (loss):    
Change in net unrealized losses on available-for-sale investments, net of taxes (63,930) (19,622)
Total comprehensive (loss) income $ (32,139) $ 12,457
Earnings per share:    
Basic $ 1.40 $ 1.42
Diluted $ 1.38 $ 1.39
Weighted average shares outstanding:    
Basic 22,753 22,665
Diluted 23,093 23,069