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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Premiums written:      
Direct $ 1,100,918 $ 1,105,027 $ 1,108,570
Assumed 14,366 12,835 8,535
Ceded (181,896) (202,821) (156,373)
Net premiums written 933,388 915,041 960,732
Decrease (increase) in unearned premiums 37,419 37,510 46,401
Net premiums earned 970,807 952,551 1,007,133
Investment income, net of expenses 244,640 214,740 167,476
Net gains (losses) on investments and other financial instruments (9,846) (14,141) (7,463)
Other revenue 2,130 1,952 5,639
Total revenues 1,207,731 1,155,102 1,172,785
Losses and expenses:      
Losses incurred, net (14,861) (20,856) (254,565)
Amortization of deferred insurance policy acquisition costs 8,957 10,820 12,366
Other underwriting and operating expenses, net 209,324 226,004 236,697
Loss on debt extinguishment 0 0 40,199
Interest expense 35,602 36,905 48,054
Total losses and expenses 239,022 252,873 82,751
Income before tax 968,709 902,229 1,090,034
Provision for income taxes 205,715 189,280 224,685
Net income $ 762,994 $ 712,949 $ 865,349
Earnings per share:      
Basic (in dollars per share) $ 2.92 $ 2.51 $ 2.83
Diluted (in dollars per share) $ 2.89 $ 2.49 $ 2.79
Weighted average common shares outstanding - basic (in shares) 261,684 283,605 305,847
Weighted average common shares outstanding - diluted (in shares) 263,995 287,155 311,229