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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Premiums written:      
Direct $ 1,106,632 $ 1,124,196 $ 1,103,332
Assumed 10,837 6,446 271
Ceded (188,727) (129,334) (111,341)
Net premiums written 928,742 1,001,308 992,262
Decrease (increase) in unearned premiums 93,201 29,680 (17,100)
Net premiums earned 1,021,943 1,030,988 975,162
Investment income, net of expenses 154,396 167,045 141,331
Net realized investment gains (losses) 13,752 5,306 (1,353)
Other revenue 9,055 10,638 8,708
Total revenues 1,199,146 1,213,977 1,123,848
Losses and expenses:      
Losses incurred, net 364,774 118,575 36,562
Amortization of deferred policy acquisition costs 12,380 12,001 11,932
Other underwriting and operating expenses, net 176,398 182,768 178,211
Loss on debt extinguishment 26,736 0 0
Interest expense 59,595 52,656 52,993
Total losses and expenses 639,883 366,000 279,698
Income before tax 559,263 847,977 844,150
Provision for income taxes 113,170 174,214 174,053
Net income $ 446,093 $ 673,763 $ 670,097
Earnings per share:      
Basic (in dollars per share) $ 1.31 $ 1.91 $ 1.83
Diluted (in dollars per share) $ 1.29 $ 1.85 $ 1.78
Weighted average common shares outstanding - basic (in shares) 339,953 352,827 365,406
Weighted average common shares outstanding - diluted (in shares) 359,293 373,924 386,078