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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenues    
Net premiums earned $ 161,503 $ 114,204
Investment income, net of investment expenses 29,146 27,063
Net realized investment gains 2,794 2,653
Other income 256 156
Total Revenue 193,699 144,076
Benefits, Losses and Expenses    
Losses and loss settlement expenses 91,484 76,182
Future policy benefits 10,138 8,182
Amortization of deferred policy acquisition costs 34,551 26,046
Other underwriting expenses 21,994 16,057
Interest on policyholders' accounts 10,656 10,670
Total Benefits, Losses and Expenses 168,823 137,137
Income before income taxes 24,876 6,939
Federal income tax expense 5,692 1,129
Net Income 19,184 5,810
Other comprehensive income    
Change in net unrealized appreciation on investments 13,603 1,500
Adjustment for net realized gains included in income (2,794) (2,653)
Adjustment for costs included in employee benefit expense 643 554
Other comprehensive income (loss), before tax 11,452 (599)
Income tax effect (4,009) 209
Other comprehensive income (loss), after tax 7,443 (390)
Comprehensive income $ 26,627 $ 5,420
Weighted average common shares outstanding 25,505,962 26,195,552
Basic earnings per common share $ 0.75 $ 0.22
Diluted earnings per common share $ 0.75 $ 0.22
Cash dividends declared per common share $ 0.15 $ 0.15