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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Premiums written:    
Direct $ 274,247 $ 274,793
Assumed 2,751 2,031
Ceded (46,806) (34,159)
Net premiums written 230,192 242,665
Decrease in unearned premiums, net 11,823 12,575
Net premiums earned 242,015 255,240
Investment income, net of expenses 49,223 38,262
Net gains (losses) on investments and other financial instruments (7,698) (772)
Other revenue 425 1,886
Total revenues 283,965 294,616
Losses and expenses:    
Losses incurred, net 6,446 (19,314)
Amortization of deferred policy acquisition costs 2,478 2,740
Other underwriting and operating expenses, net 70,063 54,732
Loss on debt extinguishment 0 22,107
Interest expense 9,374 14,912
Total losses and expenses 88,361 75,177
Income before tax 195,604 219,439
Provision for income tax 41,057 44,426
Net income $ 154,547 $ 175,013
Earnings per share:    
Basic (in dollars per share) $ 0.53 $ 0.55
Diluted (in dollars per share) $ 0.53 $ 0.54
Weighted average common shares outstanding - basic (in shares) 290,989 315,975
Weighted average common shares outstanding - diluted (in shares) 294,712 324,538