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Condensed Consolidated Statements of Income and Other Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
REVENUE:        
Gross premiums written $ 135,597 $ 99,269 $ 269,565 $ 168,172
Increase in gross unearned premiums (8,496) (35,144) (16,463) (43,187)
Gross premiums earned 127,101 64,125 253,102 124,985
Ceded premiums (32,255) (19,830) (56,767) (38,454)
Net premiums earned 94,846 44,295 196,335 86,531
Net investment income 2,090 719 3,723 1,337
Net realized gains (losses) (116) 24 (119) (18)
Other revenue 2,268 1,501 4,277 2,567
Total revenue 99,088 46,539 204,216 90,417
EXPENSES:        
Losses and loss adjustment expenses 33,909 19,244 66,448 39,831
Policy acquisition costs 12,253 6,384 25,346 10,857
General and administrative expenses 11,936 5,801 23,140 12,798
Total expenses 58,098 31,429 114,934 63,486
Income before income taxes 40,990 15,110 89,282 26,931
Provision for income taxes 15,590 5,544 33,826 9,477
Net income 25,400 9,566 55,456 17,454
OTHER COMPREHENSIVE INCOME:        
Change in net unrealized gains (losses) on investments (2,663) 2,908 (5,470) 4,918
Reclassification adjustment for net realized investment (gains) losses 116 (24) 119 18
Income tax (expense) benefit related to items of other comprehensive income (loss) 983 (1,112) 2,064 (1,904)
Total comprehensive income $ 23,836 $ 11,338 $ 52,169 $ 20,486
Weighted average shares outstanding        
Basic 29,877,636 22,119,754 29,838,322 19,256,172
Diluted 30,268,496 24,333,476 30,192,216 21,684,230
Earnings per share        
Basic $ 0.85 $ 0.43 $ 1.86 $ 0.91
Diluted $ 0.84 $ 0.39 $ 1.84 $ 0.80