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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Premiums written:        
Direct $ 280,172 $ 272,990 $ 846,700 $ 830,938
Assumed 2,477 2,137 6,810 8,895
Ceded (35,039) (47,173) (122,664) (144,487)
Net premiums written 247,610 227,954 730,846 695,346
Decrease in unearned premiums, net 7,234 28,159 30,582 65,230
Net premiums earned 254,844 256,113 761,428 760,576
Investment income, net of expenses 38,282 37,252 117,304 118,278
Net realized investment gains 1,009 2,259 5,397 10,851
Other revenue 1,611 380 7,426 7,160
Total revenues 295,746 296,004 891,555 896,865
Losses and expenses:        
Losses incurred, net 20,766 40,686 89,566 319,016
Amortization of deferred policy acquisition costs 3,295 3,278 9,016 8,697
Other underwriting and operating expenses, net 53,942 45,250 155,763 131,785
Loss on debt extinguishment 0 26,736 0 26,736
Interest expense 18,011 15,725 53,993 41,580
Total losses and expenses 96,014 131,675 308,338 527,814
Income before tax 199,732 164,329 583,217 369,051
Provision for income taxes 41,755 33,518 122,168 74,388
Net income $ 157,977 $ 130,811 $ 461,049 $ 294,663
Earnings per share:        
Basic (in dollars per share) $ 0.47 $ 0.39 $ 1.36 $ 0.87
Diluted (in dollars per share) $ 0.46 $ 0.38 $ 1.33 $ 0.85
Weighted average common shares outstanding - basic (in shares) 335,938 338,598 338,045 340,408
Weighted average common shares outstanding - diluted (in shares) 353,557 357,195 355,481 360,389