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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES        
Premiums earned (affiliated $156,714, $148,460, $310,960 and $292,071) $ 157,946 $ 149,837 $ 313,732 $ 294,324
Net investment income 11,778 11,171 23,149 22,178
Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments (5,860) 3,387 (11,253) 2,760
Other income (affiliated $2,582, $1,227, $4,163 and $2,236) 2,773 1,031 4,388 1,901
Total revenues 166,637 165,426 330,016 321,163
LOSSES AND EXPENSES        
Losses and settlement expenses (affiliated $119,119, $107,223, $229,689 and $201,994) 119,091 107,228 229,719 203,513
Dividends to policyholders (all affiliated) 2,386 2,416 4,506 5,138
Amortization of deferred policy acquisition costs (affiliated $29,122, $27,185, $56,039 and $53,780) 29,429 27,533 56,721 54,344
Other underwriting expenses (affiliated $22,458, $20,146, $45,378 and $40,839) 22,451 20,133 45,306 40,767
Interest expense (all affiliated) 171 85 313 169
Other expenses (affiliated $486, $514, $984 and $981) 831 802 1,701 1,563
Total losses and expenses 174,359 158,197 338,266 305,494
Income (loss) before income tax expense (benefit) (7,722) 7,229 (8,250) 15,669
INCOME TAX EXPENSE (BENEFIT)        
Current (3,311) 2,069 (2,105) 4,115
Deferred 584 (344) (1,074) (754)
Total income tax expense (benefit) (2,727) 1,725 (3,179) 3,361
Net income (loss) $ (4,995) $ 5,504 $ (5,071) $ 12,308
Net income (loss) per common share - basic and diluted $ (0.24) $ 0.26 $ (0.24) $ 0.58
Dividend per common share $ 0.22 $ 0.21 $ 0.44 $ 0.42
Average number of common shares outstanding - basic and diluted (in shares) 21,529,727 21,276,627 21,515,812 21,265,529