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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Premiums written:      
Direct $ 1,108,570 $ 1,123,117 $ 1,106,632
Assumed 8,535 8,924 10,837
Ceded (156,373) (163,031) (188,727)
Net premiums written 960,732 969,010 928,742
Decrease (increase) in unearned premiums 46,401 45,409 93,201
Net premiums earned 1,007,133 1,014,419 1,021,943
Investment income, net of expenses 167,476 156,438 154,396
Net gains (losses) on investments and other financial instruments (7,463) 5,861 12,576
Other revenue 5,639 8,957 10,231
Total revenues 1,172,785 1,185,675 1,199,146
Losses and expenses:      
Losses incurred, net (254,565) 64,577 364,774
Amortization of deferred policy acquisition costs 12,366 12,602 12,380
Other underwriting and operating expenses, net 236,697 198,445 176,398
Loss on debt extinguishment 40,199 36,914 26,736
Interest expense 48,054 71,360 59,595
Total losses and expenses 82,751 383,898 639,883
Income before tax 1,090,034 801,777 559,263
Provision for income taxes 224,685 166,794 113,170
Net income $ 865,349 $ 634,983 $ 446,093
Earnings per share:      
Basic (in dollars per share) $ 2.83 $ 1.90 $ 1.31
Diluted (in dollars per share) $ 2.79 $ 1.85 $ 1.29
Weighted average common shares outstanding - basic (in shares) 305,847 334,330 339,953
Weighted average common shares outstanding - diluted (in shares) 311,229 351,308 359,293