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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues [Abstract]        
Net premiums earned $ 170,090 $ 152,210 $ 331,593 $ 266,414
Investment income, net of investment expenses 28,749 27,741 57,895 54,804
Net realized investment gains        
Other-than-temporary impairment charges (4) 0 (4) 0
All other net realized gains 568 1,124 3,362 3,777
Net realized investment gains 564 1,124 3,358 3,777
Other income 243 729 499 885
Total Revenue 199,646 181,804 393,345 325,880
Benefits, Losses and Expenses        
Losses and loss settlement expenses 106,766 135,811 198,250 211,993
Future policy benefits 8,356 7,880 18,494 16,062
Amortization of deferred policy acquisition costs 34,179 43,732 68,730 69,778
Other underwriting expenses 20,541 14,720 42,535 30,777
Interest on policyholders' accounts 10,627 10,657 21,283 21,327
Total expenses 180,469 212,800 349,292 349,937
Income (loss) before income taxes 19,177 (30,996) 44,053 (24,057)
Federal income tax expense (benefit) 4,461 (13,082) 10,153 (11,953)
Net Income (loss) 14,716 (17,914) 33,900 (12,104)
Other comprehensive income        
Change in net unrealized appreciation on investments 8,667 21,439 22,270 22,939
Adjustment for net realized gains included in income (564) (1,124) (3,358) (3,777)
Adjustment for employee benefit costs included in expense 1,732 732 2,375 1,286
Other comprehensive income before tax 9,835 21,047 21,287 20,448
Income tax effect of components of other comprehensive income (3,442) (7,366) (7,451) (7,157)
Other comprehensive income after tax 6,393 13,681 13,836 13,291
Comprehensive income (loss) $ 21,109 $ (4,233) $ 47,736 $ 1,187
Weighted average common shares outstanding 25,476,220 26,101,842 25,491,091 26,148,438
Basic earnings (loss) per common share $ 0.58 $ (0.69) $ 1.33 $ (0.46)
Diluted earnings (loss) per common share $ 0.58 $ (0.69) $ 1.33 $ (0.46)
Cash dividends declared per common share $ 0.15 $ 0.15 $ 0.30 $ 0.30