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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Net premiums earned $ 152,210 $ 117,082 $ 266,414 $ 231,390
Investment income, net of investment expenses 27,741 28,291 54,804 56,259
Realized investment gains (losses)        
Other-than-temporary impairment charges 0 (117) 0 (459)
All other realized gains 1,124 2,463 3,777 5,531
Total realized investment gains (losses) 1,124 2,346 3,777 5,072
Other income 729 295 885 418
Total Revenue 181,804 148,014 325,880 293,139
Benefits, Losses and Expenses        
Losses and loss settlement expenses 135,811 72,757 211,993 141,120
Future policy benefits 7,880 7,375 16,062 13,765
Amortization of deferred policy acquisition costs 43,732 27,922 69,778 54,438
Other underwriting expenses 14,720 10,973 30,777 20,186
Interest on policyholders' accounts 10,657 10,647 21,327 21,448
Total Benefits, Losses and Expenses 212,800 129,674 349,937 250,957
Income (loss) before income taxes (30,996) 18,340 (24,057) 42,182
Federal income tax expense (benefit) (13,082) 4,409 (11,953) 9,138
Net Income (Loss) $ (17,914) $ 13,931 $ (12,104) $ 33,044
Weighted average common shares outstanding 26,101,842 26,356,353,000 26,148,438,000 26,395,593,000
Basic earnings (loss) per common share $ (0.69) $ 0.53 $ (0.46) $ 1.25
Diluted earnings (loss) per common share $ (0.69) $ 0.53 $ (0.46) $ 1.25
Cash dividends declared per common share $ 0.15 $ 0.15 $ 0.30 $ 0.30