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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
REVENUES        
Premiums earned (affiliated $130,214, $124,619, $262,146, and $243,736) $ 133,952 $ 127,189 $ 267,032 $ 247,686
Investment income, net 11,076 11,040 22,931 21,483
Net realized investment gains, excluding impairment losses on securities available-for-sale 2,343 175 3,921 2,864
Total other-than-temporary impairment losses on securities available-for-sale 0 0 (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 0 0
Net impairment losses on securities available-for-sale 0 0 (316) (21)
Net realized investment gains 2,343 175 3,605 2,843
Other income (all affiliated) 181 163 382 398
Total revenues 147,552 138,567 293,950 272,410
LOSSES AND EXPENSES        
Losses and settlement expenses (affiliated $103,663, $85,491, $192,354 and $157,970) 105,846 88,968 194,815 161,542
Dividends to policyholders (all affiliated) 2,213 2,333 3,929 4,527
Amortization of deferred policy acquisition costs (affiliated $24,175, $22,900, $48,604 and $44,850) 25,118 23,565 49,733 45,832
Other underwriting expenses (affiliated $13,892, $15,034, $29,322 and $31,055) 13,604 15,055 29,034 31,076
Interest expense (all affiliated) 85 85 169 216
Other expense (affiliated $334, $334, $730 and $421) 416 612 1,111 759
Total losses and expenses 147,282 130,618 278,791 243,952
Income before income tax expense 270 7,949 15,159 28,458
INCOME TAX EXPENSE (BENEFIT)        
Current 198 2,602 4,300 8,098
Deferred (942) (865) (750) (125)
Total income tax expense (benefit) (744) 1,737 3,550 7,973
Net income $ 1,014 $ 6,212 $ 11,609 $ 20,485
Net income per common share - basic and diluted $ 0.08 $ 0.48 $ 0.87 $ 1.58
Dividend per common share $ 0.23 $ 0.21 $ 0.46 $ 0.42
Average number of common shares outstanding - basic and diluted (in shares) 13,470,972 13,055,443 13,409,851 13,000,865