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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Net earned premiums $ 246,944 $ 202,225 $ 482,997 $ 393,960
Net investment income 13,500 13,836 28,731 27,490
Earnings from partnership investments 2,480 553 4,252 2,719
Net realized gains on investments 2,715 108 3,207 841
Change in net unrealized gains on equity securities (3,483) 6,266 4,182 7,036
Credit loss expense (37) (35) (179) (957)
Commission income 2,027 1,758 3,835 3,241
Finance and other service income 5,637 4,732 10,991 8,872
Total revenue 269,783 229,443 538,016 443,202
Expenses        
Losses and loss adjustment expenses 172,742 143,523 341,141 310,676
Underwriting, operating and related expenses 73,921 62,582 146,188 122,615
Other expense 1,747 1,523 3,584 3,193
Interest expense 138 348 261 558
Total expenses 248,548 207,976 491,174 437,042
Income before income taxes 21,235 21,467 46,842 6,160
Income tax expense 4,599 4,466 10,128 1,496
Net income $ 16,636 $ 17,001 $ 36,714 $ 4,664
Earnings per weighted average common share:        
Basic $ 1.13 $ 1.15 $ 2.49 $ 0.32
Diluted 1.13 1.15 2.48 0.31
Cash dividends paid per common share $ 0.90 $ 0.90 $ 1.80 $ 1.80
Number of shares used in computing earnings per share:        
Basic 14,698,770 14,681,034 14,682,937 14,681,766
Diluted 14,722,209 14,720,520 14,709,398 14,741,076