UNAUDITED INTERIM FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2011

UNAUDITED INTERIM FINANCIAL INFORMATION

UNAUDITED INTERIM FINANCIAL INFORMATION

12. UNAUDITED INTERIM FINANCIAL INFORMATION

Selected quarterly information is as follows:

(in thousands, except per share data)	First		Second		Third			Fourth		Year
2011
Net premiums earned	$	116,051	$	130,826	$	146,552		$	145,023	$	538,452
Net investment income	16,303		15,180		15,954			16,244		63,681
Net realized investment gains (losses)	4,472		10,050		(177		)	2,691		17,036
Earnings before income taxes	40,821		67,730		34,907			40,128		183,586
Net earnings	27,706		44,992		23,969			29,931		126,598
Basic earnings per share(1)	$	1.32	$	2.13	$	1.14		$	1.42	$	6.01
Diluted earnings per share(1)	$	1.30	$	2.11	$	1.12		$	1.39	$	5.91
2010
Net premiums earned	$	116,264	$	121,758	$	128,334		$	127,026	$	493,382
Net investment income	16,600		16,765		16,762			16,672		66,799
Net realized investment gains	6,463		4,291		4,527			7,962		23,243
Earnings before income taxes	36,272		51,081		41,433			50,881		179,667
Net earnings	25,177		34,248		28,244			40,528		128,197
Basic earnings per share(1)	$	1.19	$	1.63	$	1.35		$	1.93	$	6.10
Diluted earnings per share(1)	$	1.18	$	1.61	$	1.34		$	1.91	$	6.04

(1) Since the weighted-average shares for the quarters are calculated independently of the weighted-average shares for the year, quarterly earnings per share may not total to annual earnings per share.