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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Net premiums earned $ 262,314 $ 245,167
Investment income, net of investment expenses 16,512 13,492
Net realized investment gains (losses) (includes reclassifications for net unrealized investment gains on available-for-sale securities of $90 in 2019 and $37 in 2018; previously included in accumulated other comprehensive income) 26,713 (7,864)
Total revenues 305,539 250,795
Benefits, Losses and Expenses    
Losses and loss settlement expenses 164,240 144,728
Amortization of deferred policy acquisition costs 52,219 49,639
Other underwriting expenses (includes reclassifications for employee benefit costs of $1,124 in 2019 and $1,660 in 2018; previously included in accumulated other comprehensive income) 34,403 34,855
Total benefits, losses and expenses 250,862 229,222
Income from continuing operations before income taxes 54,677 21,573
Federal income tax expense (includes reclassifications of $217 in 2019 and $341 in 2018; previously included in accumulated other comprehensive income) 10,156 1,209
Income from continuing operations 44,521 20,364
Income (loss) from discontinued operations, net of taxes 0 (1,912)
Gain on sale of discontinued operations, net of taxes 0 27,307
Net income 44,521 45,759
Other comprehensive income (loss)    
Change in net unrealized appreciation on investments 33,354 (51,814)
Change in liability for underfunded employee benefit plans 0 0
Other comprehensive income (loss), before tax and reclassification adjustments 33,354 (51,814)
Income tax effect (7,005) 10,881
Other comprehensive income (loss), after tax, before reclassification adjustments 26,349 (40,933)
Reclassification adjustment for net realized investment (gains) losses included in income (90) (37)
Reclassification adjustment for employee benefit costs included in expense 1,124 1,660
Total reclassification adjustments, before tax 1,034 1,623
Income tax effect (217) (341)
Total reclassification adjustments, after tax 817 1,282
Comprehensive income $ 71,687 $ 6,108
Diluted weighted average common shares outstanding (in shares) 25,604,268 25,458,090
Earnings per common share from continuing operations:    
Basic (in dollars per share) $ 1.77 $ 0.82
Diluted (in dollars per share) 1.74 0.80
Earnings per common share:    
Basic (in dollars per share) 1.77 1.84
Diluted (in dollars per share) $ 1.74 $ 1.80