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Condensed Consolidated Statements of Income - Unaudited - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Direct premiums $ 845,358 $ 828,296 $ 1,686,404 $ 1,646,169
Ceded premiums (427,561) (425,266) (837,325) (830,613)
Net premiums 417,797 403,030 849,079 815,556
Commissions and fees 279,769 233,130 534,790 464,677
Investment income net of investment expenses 54,111 49,006 107,702 96,504
Interest expense on surplus note (15,659) (16,608) (31,444) (33,042)
Net investment income 38,452 32,398 76,258 63,462
Realized investment gains (losses) 565 337 572 (648)
Other investment gains (losses) (664) (665) 634 (4,288)
Investment gains (losses) (99) (328) 1,206 (4,936)
Other, net 67,456 20,155 84,871 39,663
Total revenues 803,375 688,385 1,546,204 1,378,422
Benefits and expenses:        
Benefits and claims 150,030 148,911 316,351 312,179
Future policy benefits remeasurement (gain) loss (4,329) (1,867) (4,275) (1,308)
Amortization of deferred policy acquisition costs 73,643 68,110 145,692 136,033
Sales commissions 142,154 113,623 273,292 224,497
Insurance expenses 62,685 59,093 125,834 120,219
Insurance commissions 7,399 9,142 17,033 17,281
Contract acquisition costs 15,724 12,602 29,257 27,586
Interest expense 6,099 6,686 12,870 13,376
Impairment of goodwill and other long-lived assets 253,607   253,607  
Other operating expenses 88,566 83,189 189,511 172,721
Total benefits and expenses 795,578 499,489 1,359,172 1,022,584
Income before income taxes 7,797 188,896 187,032 355,838
Income taxes 6,626 44,392 47,958 83,235
Net income $ 1,171 $ 144,504 $ 139,074 $ 272,603
Earnings per share:        
Basic earnings per share $ 0.03 $ 3.97 $ 4 $ 7.44
Diluted earnings per share $ 0.03 $ 3.97 $ 3.99 $ 7.43
Weighted-average shares used in computing earnings per share:        
Basic 34,383 36,215 34,633 36,461
Diluted 34,383 36,290 34,688 36,545