XML 42 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
REVENUES    
Premiums earned (affiliated $131,932 and $119,117) $ 133,080 $ 120,497
Investment income, net 11,855 10,443
Net realized investment gains, excluding impairment losses on securities available-for-sale 1,578 2,689
Total other-than-temporary impairment losses on securities available-for-sale (316) (21)
Portion of other-than-temporary impairment losses on fixed maturity securities available-for-sale reclassified from other comprehensive income (before taxes) 0 0
Net impairment losses on securities available-for-sale (316) (21)
Net realized investment gains 1,262 2,668
Other income (all affiliated) 201 235
Total revenues 146,398 133,843
LOSSES AND EXPENSES    
Losses and settlement expenses (affiliated $88,691 and $72,479) 88,969 72,574
Dividends to policyholders (all affiliated) 1,716 2,194
Amortization of deferred policy acquisition costs (affiliated $24,429 and $21,950) 24,615 22,267
Other underwriting expenses (all affiliated) 15,430 16,021
Interest expense (all affiliated) 84 131
Other expense (affiliated $396 and $87) 695 147
Total losses and expenses 131,509 113,334
Income before income tax expense 14,889 20,509
INCOME TAX EXPENSE    
Current 4,102 5,496
Deferred 192 740
Total income tax expense 4,294 6,236
Net income $ 10,595 $ 14,273
Net income per common share - basic and diluted $ 0.79 $ 1.10
Dividend per common share $ 0.23 $ 0.21
Average number of common shares outstanding - basic and diluted (in shares) 13,348,730 12,946,287