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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Premiums written:    
Direct $ 265,823 $ 265,291
Assumed 1,288 208
Ceded (30,409) (34,218)
Net premiums written 236,702 231,281
Increase in unearned premiums, net (7,599) (9,940)
Net premiums earned 229,103 221,341
Investment income, net of expenses 29,477 27,809
Net realized investment (losses) gains (122) 3,056
Other revenue 2,422 6,373
Total revenues 260,880 258,579
Losses and expenses:    
Losses incurred, net 27,619 85,012
Amortization of deferred policy acquisition costs 2,230 1,961
Other underwriting and operating expenses, net 40,765 39,777
Interest expense 16,309 14,701
Loss on debt extinguishment 0 13,440
Total losses and expenses 86,923 154,891
Income before tax 173,957 103,688
Provision for income taxes 84,159 34,497
Net income $ 89,798 $ 69,191
Earnings per share:    
Basic (in dollars per share) $ 0.26 $ 0.20
Diluted (in dollars per share) $ 0.24 $ 0.17
Weighted average common shares outstanding - basic (in shares) 341,009 340,144
Weighted average common shares outstanding - diluted (in shares) 402,175 431,365