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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Gross written premiums $ 322,987 $ 278,714 $ 666,136 $ 574,997
Revenues:        
Net written premiums 190,252 183,363 433,297 376,439
Change in unearned premiums 5,765 (9,586) (54,161) (50,184)
Net earned premiums 196,017 173,777 379,136 326,255
Net investment income 15,777 17,429 27,035 34,813
Total other-than-temporary impairment losses (496) (833) (693) (1,096)
Portion of loss recognized in other comprehensive income (pretax)   301 43 322
Net other-than-temporary impairment losses recognized in earnings (496) (532) (650) (774)
Net realized gains (losses) 4,217 3,006 6,059 1,618
Other income (expense) 387 573 1,298 1,564
Total revenues 215,902 194,253 412,878 363,476
Expenses:        
Net losses and loss adjustment expenses 123,407 113,863 241,392 230,651
Commission expenses 29,503 28,030 58,953 54,230
Other operating expenses 39,819 35,777 76,126 72,352
Interest expense 2,049 2,047 4,098 4,093
Total expenses 194,778 179,717 380,569 361,326
Income (loss) before income taxes 21,124 14,536 32,309 2,150
Income tax expense (benefit) 6,225 5,032 9,506 539
Net income (loss) $ 14,899 $ 9,504 $ 22,803 $ 1,611
Net income (loss) per common share:        
Basic $ 1.06 $ 0.62 $ 1.63 $ 0.10
Diluted $ 1.05 $ 0.60 $ 1.60 $ 0.10
Average common shares outstanding:        
Basic 14,006,361 15,372,670 13,992,901 15,554,670
Diluted 14,208,759 15,725,850 14,245,947 15,943,804