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Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Net premiums earned $ 186.6 $ 184.6 $ 559.3 $ 534.4
Net investment income 26.6 25.9 80.3 80.3
Net realized and unrealized gains (losses) on investments 10.9 (7.1) 24.5 10.7
Other income (loss) (0.1) 0.1   (0.2)
Total revenues 224.0 203.5 664.1 625.2
Expenses        
Losses and loss adjustment expenses 117.7 114.9 343.0 312.8
Commission expense 26.4 26.7 78.7 73.8
Underwriting and general and administrative expenses 43.2 43.5 130.2 133.7
Interest and financing expenses   1.0 0.1 5.2
Other expenses       9.4
Total expenses 187.3 186.1 552.0 534.9
Net Income before income taxes 36.7 17.4 112.1 90.3
Income tax expense 6.4 3.4 21.8 17.8
Net Income 30.3 14.0 90.3 72.5
Comprehensive income        
Unrealized AFS investment gains (losses) arising during the period, net of tax (expense) benefit of $(13.9) and $7.3 for the three months ended September 30, 2024 and 2023, respectively, and $(9.5) and $5.3 for the nine months ended September 30, 2024 and 2023, respectively 52.2 (27.0) 35.7 (20.0)
Reclassification adjustment for realized AFS investment losses in net income, net of tax benefit of $(0.4) and $(0.3) for the three months ended September 30, 2024 and 2023, respectively, and $(1.3) and $(0.6) for the nine months ended September 30, 2024 and 2023, respectively 1.5 0.9 5.0 2.3
Other comprehensive income (loss), net of tax 53.7 (26.1) 40.7 (17.7)
Total Comprehensive income (loss) $ 84.0 $ (12.1) $ 131.0 $ 54.8
Earnings per common share (Note 13):        
Basic $ 1.22 $ 0.54 $ 3.59 $ 2.72
Diluted 1.21 0.54 3.57 2.71
Cash dividends declared per common share and eligible equity plan awards $ 0.30 $ 0.28 $ 0.88 $ 0.82