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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Premiums written:        
Direct $ 287,918,000 $ 283,618,000 $ 828,986,000 $ 831,022,000
Assumed (91,000) 152,000 1,882,000 542,000
Ceded (31,931,000) (33,446,000) (92,436,000) (99,944,000)
Net premiums written 255,896,000 250,324,000 738,432,000 731,620,000
Increase in unearned premiums, net (18,813,000) (12,948,000) (41,110,000) (41,447,000)
Net premiums earned 237,083,000 237,376,000 697,322,000 690,173,000
Investment income, net of expenses 30,402,000 27,515,000 89,595,000 82,572,000
Net realized investment (losses) gains (47,000) 5,092,000 (211,000) 8,984,000
Other revenue 2,922,000 3,867,000 7,846,000 14,234,000
Total revenues 270,360,000 273,850,000 794,552,000 795,963,000
Losses and expenses:        
Losses incurred, net 29,747,000 60,897,000 84,705,000 192,499,000
Amortization of deferred policy acquisition costs 2,985,000 2,575,000 7,799,000 6,781,000
Other underwriting and operating expenses, net 39,888,000 37,870,000 119,164,000 112,995,000
Interest expense 13,273,000 13,536,000 43,779,000 40,481,000
Loss on debt extinguishment 0 75,223,000 65,000 90,531,000
Total losses and expenses 85,893,000 190,101,000 255,512,000 443,287,000
Income before tax 184,467,000 83,749,000 539,040,000 352,676,000
Provision for income taxes 64,440,000 27,131,000 210,593,000 117,646,000
Net income $ 120,027,000 $ 56,618,000 $ 328,447,000 $ 235,030,000
Earnings per share:        
Basic (in dollars per share) $ 0.32 $ 0.16 $ 0.91 $ 0.68
Diluted (in dollars per share) $ 0.32 $ 0.14 $ 0.86 $ 0.58
Weighted average common shares outstanding - basic (in shares) 370,586 349,376 359,613 343,403
Weighted average common shares outstanding - diluted (in shares) 391,087 406,050 395,870 421,423