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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Premiums written:        
Direct $ 283,523 $ 283,224 $ 566,528 $ 557,948
Assumed 2,202 3,899 4,333 6,758
Ceded (43,988) (65,738) (87,625) (97,314)
Net premiums written 241,737 221,385 483,236 467,392
Decrease in unearned premiums, net 9,802 22,177 23,348 37,071
Net premiums earned 251,539 243,562 506,584 504,463
Investment income, net of expenses 41,129 39,679 79,022 81,026
Net realized investment gains 2,173 6,701 4,388 8,592
Other revenue 3,011 4,026 5,815 6,780
Total revenues 297,852 293,968 595,809 600,861
Losses and expenses:        
Losses incurred, net 29,164 217,374 68,800 278,330
Amortization of deferred policy acquisition costs 3,025 2,909 5,721 5,419
Other underwriting and operating expenses, net 53,798 44,273 101,821 86,535
Interest expense 17,997 12,929 35,982 25,855
Total losses and expenses 103,984 277,485 212,324 396,139
Income before tax 193,868 16,483 383,485 204,722
Provision for income taxes 40,817 2,436 80,413 40,870
Net income $ 153,051 $ 14,047 $ 303,072 $ 163,852
Earnings per share:        
Basic (in dollars per share) $ 0.45 $ 0.04 $ 0.89 $ 0.48
Diluted (in dollars per share) $ 0.44 $ 0.04 $ 0.87 $ 0.48
Weighted average common shares outstanding - basic (in shares) 339,326 338,593 339,116 341,323
Weighted average common shares outstanding - diluted (in shares) 356,536 339,661 356,461 362,003