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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Premiums written:    
Direct $ 275,203 $ 274,247
Assumed 3,416 2,751
Ceded (44,819) (46,806)
Net premiums written 233,800 230,192
Decrease in unearned premiums, net 8,844 11,823
Net premiums earned 242,644 242,015
Investment income, net of expenses 59,744 49,223
Net gains (losses) on investments and other financial instruments (8,509) (7,698)
Other revenue 482 425
Total revenues 294,361 283,965
Losses and expenses:    
Losses incurred, net 4,555 6,446
Amortization of deferred insurance policy acquisition costs 2,009 2,478
Other underwriting and operating expenses, net 59,018 70,063
Interest expense 8,899 9,374
Total losses and expenses 74,481 88,361
Income before tax 219,880 195,604
Provision for income tax 45,783 41,057
Net income $ 174,097 $ 154,547
Earnings per share:    
Basic (in dollars per share) $ 0.64 $ 0.53
Diluted (in dollars per share) $ 0.64 $ 0.53
Weighted average common shares outstanding - basic (in shares) 270,314 290,989
Weighted average common shares outstanding - diluted (in shares) 273,108 294,712