The following tables represent unaudited quarterly financial data for the years ended December 31, 2018 and 2017. In the opinion of management, all adjustments necessary to present fairly the results of operations for such periods have been made. | | | | | | | | | | | | | | | | | | | | | | (in millions, except per share amounts) | | 1st Quarter | | 2nd Quarter | | 3rd Quarter | | 4th Quarter | | Year | 2018 | | | | | | | | | | | Earned premiums | | $ | 414.7 |
| | $ | 417.7 |
| | $ | 446.9 |
| | $ | 452.4 |
| | $ | 1,731.7 |
| Losses and loss adjustment expenses | | 237.2 |
| | 245.5 |
| | 277.5 |
| | 280.6 |
| | 1,040.8 |
| Underwriting, acquisition and insurance expenses | | 160.2 |
| | 156.8 |
| | 168.0 |
| | 169.7 |
| | 654.7 |
| Underwriting income | | 17.3 |
| | 15.4 |
| | 1.4 |
| | 2.1 |
| | 36.2 |
| Net income (loss) before income taxes | | 25.0 |
| | 57.1 |
| | 45.3 |
| | (59.7 | ) | | 67.7 |
| Net income (loss) | | 24.8 |
| | 41.8 |
| | 40.6 |
| | (43.6 | ) | | 63.6 |
| Net income (loss) per common share: | | | | | | | | | |
|
| Basic (1) | | $ | 0.73 |
| | $ | 1.23 |
| | $ | 1.20 |
| | $ | (1.29 | ) | | $ | 1.87 |
| Diluted (1) | | $ | 0.71 |
| | $ | 1.20 |
| | $ | 1.17 |
| | $ | (1.29 | ) | | $ | 1.83 |
| Dividends per common share | | $ | 0.27 |
| | $ | 0.27 |
| | $ | 0.27 |
| | $ | 0.27 |
| | $ | 1.08 |
|
| | | | | | | | | | | | | | | | | | | | | | (in millions, except per share amounts) | | 1st Quarter | | 2nd Quarter | | 3rd Quarter | | 4th Quarter | | Year | 2017 | | | | | | | | | | | Earned premiums | | $ | 379.4 |
| | $ | 399.1 |
| | $ | 389.3 |
| | $ | 404.5 |
| | $ | 1,572.3 |
| Losses and loss adjustment expenses | | 222.5 |
| | 230.6 |
| | 326.4 |
| | 270.7 |
| | 1,050.2 |
| Underwriting, acquisition and insurance expenses | | 153.6 |
| | 154.7 |
| | 166.1 |
| | 161.0 |
| | 635.4 |
| Underwriting income (loss) | | 3.3 |
| | 13.8 |
| | (103.2 | ) | | (27.2 | ) | | (113.3 | ) | Net income (loss) before income taxes | | 42.7 |
| | 50.8 |
| | (65.9 | ) | | 12.3 |
| | 39.9 |
| Net income (loss) | | 36.7 |
| | 46.0 |
| | (61.3 | ) | | 28.9 |
| | 50.3 |
| Net income (loss) per common share (2): | | | | | | | | | |
|
| Basic (1) | | $ | 1.06 |
| | $ | 1.32 |
| | $ | (1.78 | ) | | $ | 0.85 |
| | $ | 1.46 |
| Diluted (1) | | $ | 1.03 |
| | $ | 1.29 |
| | $ | (1.78 | ) | | $ | 0.83 |
| | $ | 1.42 |
| Dividends per common share (2) | | $ | 0.23 |
| | $ | 0.23 |
| | $ | 0.24 |
| | $ | 0.24 |
| | $ | 0.94 |
|
(1) Basic and diluted net income per common share are computed independently for each quarter and full year based on the respective average number of common shares outstanding; therefore, the sum of the quarterly net income per common share data may not equal the net income per common share for the year. (2) On February 20, 2018, our Board of Directors declared at 15% stock dividend, payable on March 21, 2018, to shareholders of record at the close of business on March 7, 2018. The net income (loss) per common share and dividends declared per share have been adjusted to reflect the effect of the stock dividend |