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Consolidated Statements of Earnings and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues      
Net premiums earned $ 747,639 $ 768,134 $ 845,015
Net investment income 108,910 125,012 101,949
Net realized capital gains 127,141 97,374 320,389
Other than temporary impairment losses (3,607) (12,356) (85,916)
Other income 1,754 7,188 2,955
Total revenues 981,837 985,352 1,184,392
Costs and expenses      
Loss and loss adjustment expenses 429,986 377,937 442,104
Commissions, brokerage and other underwriting expenses 268,125 259,335 273,722
Other operating expenses 34,456 37,157 45,615
Corporate administration 41,007 28,854 26,938
Interest expense 17,426 4,698 633
Total costs and expenses 791,000 707,981 789,012
Earnings before income taxes 190,837 277,371 395,380
Income taxes 47,586 78,869 124,381
Net earnings 143,251 198,502 270,999
Other comprehensive income      
Change in unrealized gains, net of deferred taxes of $37,139, $66,873 and $90,590 for 2011, 2010 and 2009, respectively 68,973 124,192 168,239
Less: reclassification for net realized capital gains and other than temporary impairment losses, net of taxes of $43,237, $29,756 and $86,386 for 2011, 2010 and 2009 respectively (80,297) (55,262) (160,432)
Other (3,407) 7,287 (1,011)
Comprehensive income 128,520 274,719 277,795
Net earnings 143,251 198,502 270,999
Preferred dividends     6,158
Net earnings available to common stockholders $ 143,251 $ 198,502 $ 264,841
Basic earnings per share $ 16.26 [1] $ 21.85 [1] $ 29.25 [1]
Diluted earnings per share $ 16.20 [1] $ 21.85 [1] $ 28.51 [1]
[1] Amounts reflect subsequent common stock dividends.