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Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Net premiums earned $ 117,853 $ 110,288 $ 325,242 $ 335,931
Net investment income 5,486 6,703 19,102 19,434
Commissions and other income 1,469 2,716 5,020 6,761
Net realized gains (losses) on investments, excluding impairment losses (39) 1,199 (8,924) 1,872
Impairment losses on investments (588) (58) (1,046) (404)
Net unrealized gains (losses) on equity securities and limited partnership investments 771 (1,016) (7,026) 7,573
Net realized and unrealized gains (losses) on investments 144 125 (16,996) 9,041
Total revenues 124,952 119,832 332,368 371,167
Expenses        
Losses and loss expenses incurred 84,673 84,781 234,713 262,336
Other operating expenses 36,952 36,070 105,259 104,386
Total expenses 121,625 120,851 339,972 366,722
Income (loss) before federal income tax expense (benefit) 3,327 (1,019) (7,604) 4,445
Federal income tax expense (benefit) 46 (312) (96) 869
Net income (loss) $ 3,281 $ (707) $ (7,508) $ 3,576
Net income (loss) per share:        
Basic (in dollars per share) $ 0.23 $ (0.05) $ (0.53) $ 0.24
Diluted (in dollars per share) $ 0.23 $ (0.05) $ (0.53) $ 0.24
Weighted average number of shares outstanding:        
Basic (in shares) 14,132 14,361 14,139 14,607
Dilutive effect of share equivalents (in shares) 169     77
Diluted (in shares) 14,301 14,361 14,139 14,684