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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Premiums written:    
Direct $ 265,291 $ 265,412
Assumed 208 338
Ceded (34,218) (31,294)
Net premiums written 231,281 234,456
Increase in unearned premiums, net (9,940) (17,168)
Net premiums earned 221,341 217,288
Investment income, net of expenses 27,809 24,120
Net realized investment gains (losses):    
Total other-than-temporary impairment losses 0 0
Portion of losses recognized in comprehensive income, before taxes 0 0
Net impairment losses recognized in earnings 0 0
Other realized investment gains 3,056 26,327
Net realized investment gains 3,056 26,327
Other revenue 6,373 2,480
Total revenues 258,579 270,215
Losses and expenses:    
Losses incurred, net 85,012 81,785
Change in premium deficiency reserve 0 (6,418)
Amortization of deferred policy acquisition costs 1,961 1,757
Other underwriting and operating expenses, net 39,777 39,268
Interest expense 14,701 17,362
Loss on debt extinguishment 13,440 0
Total losses and expenses 154,891 133,754
Income before tax 103,688 136,461
Provision for income taxes 34,497 3,385
Net income $ 69,191 $ 133,076
Income per share    
Basic (in dollars per share) $ 0.20 $ 0.39
Diluted (in dollars per share) $ 0.17 $ 0.32
Weighted average shares outstanding - basic and diluted    
Weighted average common shares outstanding - basic (in shares) 340,144 339,107
Weighted average common shares outstanding - diluted (in shares) 431,365 468,121