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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Gross written premiums$ 255,318$ 233,638$ 830,315$ 757,351
Revenues:    
Net written premiums175,357157,807551,796512,129
Change in unearned premiums(1,724)10,426(51,908)(18,356)
Net earned premiums173,633168,233499,888493,773
Net investment income16,25917,83951,07253,664
Total other-than-temporary impairment losses(1,241)(1,034)(2,338)(1,774)
Portion of loss recognized in other comprehensive income (before tax)618365941870
Net other-than-temporary impairment losses recognized in earnings(623)(669)(1,397)(904)
Net realized gains (losses)3,2384,5214,85621,653
Other income (expense)(921)2,7676432,938
Total revenues191,586192,691555,062571,124
Expenses:    
Net losses and loss adjustment expenses110,242107,463340,893311,133
Commission expenses25,93425,18580,16476,178
Other operating expenses34,98934,682107,341103,781
Interest expense2,0472,0456,1406,133
Total expenses173,212169,375534,538497,225
Income (loss) before income taxes18,37423,31620,52473,899
Income tax expense (benefit)4,4767,0915,01521,659
Net income (loss)$ 13,898$ 16,225$ 15,509$ 52,240
Net income per common share:    
Basic$ 0.94$ 1.03$ 1.02$ 3.23
Diluted$ 0.92$ 1.00$ 1.00$ 3.17
Average common shares outstanding:    
Basic14,796,30915,779,90215,243,60316,170,493
Diluted15,104,42416,148,99015,569,37016,503,098