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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Net premiums earned (Note 8) $ 239,133 $ 240,262 $ 712,721 $ 686,929
Services revenue (Note 4) 12,167 10,892 38,020 33,673
Net investment income (Note 6) 78,396 67,805 221,383 189,606
Net gains (losses) on investments and other financial instruments (includes net realized gains (losses) on investments of $2,409, $(2,775), $(4,292) and $(11,636)) (Note 6) 2,174 (8,555) (1,823) (3,206)
Income (loss) on consolidated VIEs (Note 7) 465 0 465 0
Other income 1,522 2,109 3,656 4,942
Total revenues 333,857 312,513 974,422 911,944
Expenses        
Provision for losses (Note 11) 6,889 (8,135) (1,890) (46,696)
Policy acquisition costs 6,724 6,920 20,040 18,431
Cost of services 9,542 8,886 28,404 29,541
Other operating expenses 85,919 79,206 260,203 252,360
Interest expense (Note 12) 29,391 23,282 85,501 66,526
Amortization of other acquired intangible assets 0 1,371 0 4,112
Total expenses 138,465 111,530 392,258 324,274
Pretax income 195,392 200,983 582,164 587,670
Income tax provision 43,500 44,401 126,015 127,244
Net income $ 151,892 $ 156,582 $ 456,149 $ 460,426
Net income per share        
Basic (in usd per share) $ 1 $ 0.99 $ 2.98 $ 2.9
Diluted (in usd per share) $ 0.99 $ 0.98 $ 2.95 $ 2.86
Weighted average number of common shares outstanding—basic (in shares) 151,846 158,461 153,199 158,992
Weighted average number of common and common equivalent shares outstanding—diluted (in shares) 153,073 160,147 154,607 160,869