XML 19 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Premiums written:        
Direct $ 283,189 $ 274,726 $ 557,086 $ 544,760
Assumed 1,505 2,085 2,612 2,177
Ceded (41,096) (21,375) (71,819) (54,595)
Net premiums written 243,598 255,436 487,879 492,342
Decrease (increase) in unearned premiums, net 3,504 (8,472) 8,984 (13,271)
Net premiums earned 247,102 246,964 496,863 479,071
Investment income, net of expenses 42,423 34,502 83,008 66,623
Net realized investment gains (losses) 307 (1,897) (219) (2,226)
Other revenue 2,485 2,431 4,315 4,302
Total revenues 292,317 282,000 583,967 547,770
Losses and expenses:        
Losses incurred, net 21,836 (13,455) 60,899 10,395
Amortization of deferred policy acquisition costs 2,760 2,845 5,238 5,417
Other underwriting and operating expenses, net 42,960 41,842 88,900 87,932
Interest expense 13,550 13,246 26,783 26,479
Total losses and expenses 81,106 44,478 181,820 130,223
Income before tax 211,211 237,522 402,147 417,547
Provision for income taxes 43,433 50,708 82,428 87,096
Net income $ 167,778 $ 186,814 $ 319,719 $ 330,451
Earnings per share:        
Basic (in dollars per share) $ 0.47 $ 0.51 $ 0.90 $ 0.89
Diluted (in dollars per share) $ 0.46 $ 0.49 $ 0.87 $ 0.87
Weighted average common shares outstanding - basic (in shares) 355,734 368,578 355,694 369,736
Weighted average common shares outstanding - diluted (in shares) 376,603 388,881 376,635 390,236