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Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Net premiums earned $ 122,853 $ 109,659
Net investment income 5,306 7,236
Commissions and other income 1,858 1,663
Net realized gains (losses) on investments, excluding impairment losses 2,339 (4,787)
Impairment losses on investments (82) (40)
Net unrealized gains (losses) on equity securities and limited partnership investments 8,252 (22,929)
Net realized and unrealized gains (losses) on investments 10,509 (27,756)
Total revenues 140,526 90,802
Expenses    
Losses and loss expenses incurred 82,318 81,831
Other operating expenses 41,855 34,110
Total expenses 124,173 115,941
Income (loss) before federal income tax expense (benefit) 16,353 (25,139)
Federal income tax expense (benefit) 3,415 (2,983)
Net income (loss) $ 12,938 $ (22,156)
Net income (loss) per share:    
Basic (in dollars per share) $ 0.91 $ (1.56)
Diluted (in dollars per share) $ 0.90 $ (1.56)
Weighted average number of shares outstanding:    
Basic (in shares) 14,153 14,169
Dilutive effect of share equivalents (in shares) 154  
Diluted (in shares) 14,307 14,169