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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues    
Net premiums earned $ 245,167 $ 236,444
Investment income, net of investment expenses 13,492 12,585
Net realized investment gains (losses) (includes reclassifications for net unrealized investment gains on available-for-sale securities of $37 in 2018 and $3,405 in 2017; previously included in accumulated other comprehensive income) (7,864) 2,249
Total revenues 250,795 251,278
Benefits, Losses and Expenses    
Losses and loss settlement expenses 144,728 156,552
Amortization of deferred policy acquisition costs 49,639 50,461
Other underwriting expenses (includes reclassifications for employee benefit costs of $1,660 in 2018 and $1,352 in 2017; previously included in accumulated other comprehensive income) 34,855 21,259
Total benefits, losses and expenses 229,222 228,272
Income from continuing operations before income taxes 21,573 23,006
Federal income tax expense (includes reclassifications of $341 in 2018 and ($718) in 2017; previously included in accumulated other comprehensive income) 1,209 4,422
Income from continuing operations 20,364 18,584
Income (loss) from discontinued operations, net of taxes (1,912) 1,352
Gain on sale of discontinued operations, net of taxes 27,307 0
Net income 45,759 19,936
Other comprehensive income    
Change in net unrealized appreciation on investments (51,814) 14,966
Change in liability for underfunded employee benefit plans 0 0
Other comprehensive income, before tax and reclassification adjustments (51,814) 14,966
Income tax effect 10,881 (5,238)
Other comprehensive income, after tax, before reclassification adjustments (40,933) 9,728
Reclassification adjustment for net realized investment gains included in income (37) (3,405)
Reclassification adjustment for employee benefit costs included in expense 1,660 1,352
Total reclassification adjustments, before tax 1,623 (2,053)
Income tax effect (341) 718
Total reclassification adjustments, after tax 1,282 (1,335)
Comprehensive income $ 6,108 $ 28,329
Diluted weighted average common shares outstanding (in shares) 25,458,090 25,854,181
Earnings per common share from continuing operations:    
Basic (in dollars per share) $ 0.82 $ 0.73
Diluted (in dollars per share) 0.80 0.72
Earnings per common share:    
Basic (in dollars per share) 1.84 0.78
Diluted (in dollars per share) $ 1.80 $ 0.77