XML 18 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Premiums written:        
Direct $ 272,990 $ 286,059 $ 830,938 $ 843,145
Assumed 2,137 1,793 8,895 4,405
Ceded (47,173) (28,438) (144,487) (100,257)
Net premiums written 227,954 259,414 695,346 747,293
Decrease in unearned premiums, net 28,159 8,443 65,230 17,427
Net premiums earned 256,113 267,857 760,576 764,720
Investment income, net of expenses 37,252 42,715 118,278 125,723
Net realized investment gains 2,259 4,205 10,851 3,986
Other revenue 380 3,606 7,160 7,921
Total revenues 296,004 318,383 896,865 902,350
Losses and expenses:        
Losses incurred, net 40,686 33,985 319,016 94,884
Amortization of deferred policy acquisition costs 3,278 3,142 8,697 8,380
Other underwriting and operating expenses, net 45,250 45,197 131,785 134,097
Loss on debt extinguishment 26,736 0 26,736 0
Interest expense 15,725 12,939 41,580 39,722
Total losses and expenses 131,675 95,263 527,814 277,083
Income before tax 164,329 223,120 369,051 625,267
Provision for income taxes 33,518 46,186 74,388 128,614
Net income $ 130,811 $ 176,934 $ 294,663 $ 496,653
Earnings per share:        
Basic (in dollars per share) $ 0.39 $ 0.50 $ 0.87 $ 1.40
Diluted (in dollars per share) $ 0.38 $ 0.49 $ 0.85 $ 1.36
Weighted average common shares outstanding - basic (in shares) 338,598 351,475 340,408 354,272
Weighted average common shares outstanding - diluted (in shares) 357,195 372,575 360,389 375,266