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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
REVENUES    
Premiums earned (affiliated $154,246 and $143,611) $ 155,786 $ 144,487
Net investment income 11,371 11,007
Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments (5,393) (627)
Other income (affiliated $1,581 and $1,009) 1,615 870
Total revenues 163,379 155,737
LOSSES AND EXPENSES    
Losses and settlement expenses (affiliated $110,570 and $94,771) 110,628 96,285
Dividends to policyholders (all affiliated) 2,120 2,722
Amortization of deferred policy acquisition costs (affiliated $26,917 and $26,595) 27,292 26,811
Other underwriting expenses (affiliated $22,920 and $20,693) 22,855 20,634
Interest expense (all affiliated) 142 84
Other expenses (affiliated $498 and $467) 870 761
Total losses and expenses 163,907 147,297
Income (loss) before income tax expense (benefit) (528) 8,440
INCOME TAX EXPENSE (BENEFIT)    
Current 1,206 2,046
Deferred (1,658) (410)
Total income tax expense (benefit) (452) 1,636
Net income (loss) $ (76) $ 6,804
Net income (loss) per common share - basic and diluted $ 0.00 $ 0.32
Dividend per common share $ 0.22 $ 0.21
Average number of common shares outstanding - basic and diluted (in shares) 21,501,897 21,254,430