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Unaudited Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues:    
Net premiums earned $ 61,098 $ 61,551
Net investment income 2,410 2,422
Commissions and other income 1,383 1,506
Net realized gains on investments, excluding impairment losses 14,353 5,381
Total other-than-temporary impairment losses on investments (6) 0
Net realized gains on investments 14,347 5,381
Total revenue 79,238 70,860
Expenses    
Losses and loss expenses incurred 34,533 34,904
Other operating expenses 22,026 18,957
Total expenses 56,559 53,861
Income before federal income taxes 22,679 16,999
Federal income taxes 7,736 5,493
Net income $ 14,943 $ 11,506
Per share data:    
Basic and diluted earnings (in dollars per share) $ 1.00 $ 0.78
Dividends paid to shareholders (in dollars per share) $ 0.25 $ 0.25
Reconciliation of shares outstanding:    
Average shares outstanding - basic (in shares) 14,878 14,826
Dilutive effect of share equivalents (in shares) 33 16
Average shares outstanding - diluted (in shares) 14,911 14,842