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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUES      
Premiums earned (affiliated $640,119, $603,233 and $586,609) $ 645,183 $ 607,158 $ 592,408
Net investment income 47,637 45,479 47,490
Net realized investment gains (losses) and, beginning in 2018, change in unrealized gains on equity investments (41,252) 6,556 4,074
Other income (affiliated $8,667, $5,255 and $5,830) 9,159 4,764 5,820
Total revenues 660,727 663,957 649,792
LOSSES AND EXPENSES      
Losses and settlement expenses (affiliated $454,293, $417,259 and $385,708) 457,159 421,969 386,897
Dividends to policyholders (all affiliated) 9,209 7,610 13,800
Amortization of deferred policy acquisition costs (affiliated $114,468, $107,854 and $106,931) 115,803 108,910 108,403
Other underwriting expenses (affiliated $88,930, $82,044 and $74,370) 88,824 81,918 74,421
Interest expense (all affiliated) 654 337 337
Other expenses (affiliated $2,129, $1,825 and $1,860) 3,754 3,397 2,727
Total losses and expenses 675,403 624,141 586,585
Income (loss) before income tax expense (benefit) (14,676) 39,816 63,207
INCOME TAX EXPENSE (BENEFIT)      
Current (1,225) 8,004 18,061
Deferred (5,983) (7,426) (1,057)
Total income tax expense (benefit) (7,208) 578 17,004
Net income (loss) $ (7,468) $ 39,238 $ 46,203
Net income (loss) per common share - basic and diluted $ (0.35) $ 1.84 $ 2.20
Average number of common shares outstanding - basic and diluted (in shares) 21,549,436 21,326,358 21,006,302