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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Premiums written:    
Direct $ 276,471 $ 275,203
Assumed 3,538 3,416
Ceded (44,663) (44,819)
Net premiums written 235,346 233,800
Decrease in unearned premiums, net 8,373 8,844
Net premiums earned 243,719 242,644
Investment income, net of expenses 61,443 59,744
Net gains (losses) on investments and other financial instruments 741 (8,509)
Other revenue 331 482
Total revenues 306,234 294,361
Losses and expenses:    
Losses incurred, net 9,591 4,555
Amortization of deferred insurance policy acquisition costs 1,657 2,009
Other underwriting and operating expenses, net 51,406 59,018
Interest expense 8,899 8,899
Total losses and expenses 71,553 74,481
Income before tax 234,681 219,880
Provision for income tax 49,221 45,783
Net income $ 185,460 $ 174,097
Earnings per share:    
Basic (in dollars per share) $ 0.76 $ 0.64
Diluted (in dollars per share) $ 0.75 $ 0.64
Weighted average common shares outstanding - basic (in shares) 244,147 270,314
Weighted average common shares outstanding - diluted (in shares) 246,490 273,108