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Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Net premiums earned $ 115,631 $ 111,940 $ 225,644 $ 217,402
Net investment income 6,500 5,796 12,732 10,432
Commissions and other income 1,978 2,263 4,043 4,076
Net realized gains on investments, excluding impairment losses 713 915 673 1,290
Other-than-temporary impairment losses on investments (86) 0 (346) 0
Net unrealized gains (losses) on equity securities and limited partnership investments 2,262 (4,350) 8,589 (9,258)
Net realized and unrealized gains (losses) on investments 2,889 (3,435) 8,916 (7,968)
Total revenues 126,998 116,564 251,335 223,942
Expenses        
Losses and loss expenses incurred 90,433 77,488 177,555 149,787
Other operating expenses 34,615 36,019 68,316 70,784
Total expenses 125,048 113,507 245,871 220,571
Income before federal income tax expense 1,950 3,057 5,464 3,371
Federal income tax expense 415 570 1,181 554
Net income $ 1,535 $ 2,487 $ 4,283 $ 2,817
Per share data:        
Basic and diluted earnings (in dollars per share) $ 0.11 $ 0.17 $ 0.28 $ 0.19
Dividends paid to shareholders (in dollars per share) $ 0.10 $ 0.28 $ 0.20 $ 0.56
Reconciliation of shares outstanding:        
Average shares outstanding - basic (in shares) 14,616 15,014 14,731 15,012
Dilutive effect of share equivalents (in shares) 63 9 60 9
Average shares outstanding - diluted (in shares) 14,679 15,023 14,791 15,021