Unaudited Quarterly Financial Data

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Financial Data

Unaudited Quarterly Financial Data

	Table:	18.1a
Unaudited quarterly financial data - current year	2017:		Quarter												Full
	(in thousands, except per share data)		First			Second			Third			Fourth			Year
	Net premiums earned		$	229,103		$	231,136		$	237,083		$	237,425		$	934,747
	Investment income, net of expenses		29,477			29,716			30,402			31,276			120,871
	Realized (losses) gains		(122		)	(42		)	(47		)	460			249
	Other revenue		2,422			2,502			2,922			2,341			10,187
	Loss incurred, net		27,619			27,339			29,747			(30,996		)	53,709
	Underwriting and other expenses, net		59,304			55,292			56,146			57,042			227,784
	Loss on debt extinguishment		—			65			—			—			65
	Provision for income tax		84,159			61,994			64,440			218,142			428,735
	Net income		89,798			118,622			120,027			27,314			355,761
	Income per share (a) (b):
	Basic		0.26			0.32			0.32			0.07			0.98
	Diluted		0.24			0.31			0.32			0.07			0.95

	Table:	18.1b
Unaudited quarterly financial data - prior year	2016:		Quarter									Full
	(in thousands, except per share data)		First		Second		Third		Fourth			Year
	Net premiums earned		$	221,341	$	231,456	$	237,376	$	235,053		$	925,226
	Investment income, net of expenses		27,809		27,248		27,515		28,094			110,666
	Realized gains (losses)		3,056		836		5,092		(52		)	8,932
	Other revenue		6,373		3,994		3,867		3,425			17,659
	Loss incurred, net		85,012		46,590		60,897		47,658			240,157
	Underwriting and other expenses, net		56,439		49,837		53,981		56,824			217,081
	Loss on debt extinguishment		13,440		1,868		75,223		—			90,531
	Provision for income tax		34,497		56,018		27,131		54,551			172,197
	Net income		69,191		109,221		56,618		107,487			342,517
	Income per share (a) (b):
	Basic		0.20		0.32		0.16		0.31			1.00
	Diluted		0.17		0.26		0.14		0.28			0.86

^(a)  Due to the use of weighted average shares outstanding when calculating earnings per share, the sum of the quarterly per share data may not equal the per share data for the year.

^(b)  In periods where convertible debt instruments are dilutive to earnings per share the “if-converted” method of computing diluted EPS requires an interest expense adjustment, net of tax, to net income available to shareholders. See Note 4 – “Earnings Per Share” for further discussion on our calculation of diluted EPS.