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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Premiums written:      
Direct $ 1,105,027 $ 1,108,570 $ 1,123,117
Assumed 12,835 8,535 8,924
Ceded (202,821) (156,373) (163,031)
Net premiums written 915,041 960,732 969,010
Decrease (increase) in unearned premiums 37,510 46,401 45,409
Net premiums earned 952,551 1,007,133 1,014,419
Investment income, net of expenses 214,740 167,476 156,438
Net gains (losses) on investments and other financial instruments (14,141) (7,463) 5,861
Other revenue 1,952 5,639 8,957
Total revenues 1,155,102 1,172,785 1,185,675
Losses and expenses:      
Losses incurred, net (20,856) (254,565) 64,577
Amortization of deferred insurance policy acquisition costs 10,820 12,366 12,602
Other underwriting and operating expenses, net 226,004 236,697 198,445
Loss on debt extinguishment 0 40,199 36,914
Interest expense 36,905 48,054 71,360
Total losses and expenses 252,873 82,751 383,898
Income before tax 902,229 1,090,034 801,777
Provision for income taxes 189,280 224,685 166,794
Net income $ 712,949 $ 865,349 $ 634,983
Earnings per share:      
Basic (in dollars per share) $ 2.51 $ 2.83 $ 1.90
Diluted (in dollars per share) $ 2.49 $ 2.79 $ 1.85
Weighted average common shares outstanding - basic (in shares) 283,605 305,847 334,330
Weighted average common shares outstanding - diluted (in shares) 287,155 311,229 351,308