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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues [Abstract]        
Net premiums earned $ 176,531 $ 158,704 $ 508,124 $ 425,118
Investment income, net of investment expenses 28,665 26,926 86,560 81,730
Net realized investment gains        
Other-than-temporary impairment charges 0 0 (4) 0
All other net realized gains 1,300 1,219 4,662 4,996
Net realized investment gains 1,300 1,219 4,658 4,996
Other income 85 725 584 1,610
Total Revenue 206,581 187,574 599,926 513,454
Benefits, Losses and Expenses        
Losses and loss settlement expenses 119,756 120,861 318,006 332,854
Future policy benefits 9,815 9,167 28,309 25,229
Amortization of deferred policy acquisition costs 36,167 43,022 104,897 112,800
Other underwriting expenses 20,496 14,101 63,031 44,878
Interest on policyholders' accounts 10,327 10,897 31,610 32,224
Total expenses 196,561 198,048 545,853 547,985
Income (loss) before income taxes 10,020 (10,474) 54,073 (34,531)
Federal income tax expense (benefit) 1,290 (5,698) 11,443 (17,651)
Net Income (loss) 8,730 (4,776) 42,630 (16,880)
Other comprehensive income (loss)        
Change in net unrealized appreciation on investments 20,613 (7,048) 42,882 15,891
Adjustment for net realized gains included in income (1,300) (1,219) (4,658) (4,996)
Adjustment for employee benefit costs included in expense 1,085 643 3,460 1,929
Other comprehensive income (loss) before tax 20,398 (7,624) 41,684 12,824
Income tax effect (6,964) 2,795 (14,414) (4,362)
Other comprehensive income (loss) after tax 13,434 (4,829) 27,270 8,462
Comprehensive income (loss) $ 22,164 $ (9,605) $ 69,900 $ (8,418)
Weighted average common shares outstanding 25,423,191 25,722,572 25,468,293 26,004,923
Basic earnings (loss) per common share $ 0.34 $ (0.19) $ 1.67 $ (0.65)
Diluted earnings (loss) per common share $ 0.34 $ (0.19) $ 1.67 $ (0.65)
Cash dividends declared per common share $ 0.15 $ 0.15 $ 0.45 $ 0.45