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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Gross written premiums $ 379,471 $ 348,795 $ 775,931 $ 771,585
Revenues:        
Net written premiums 258,244 231,864 547,202 543,714
Change in unearned premiums (15,916) (780) (68,742) (87,358)
Net earned premiums 242,328 231,084 478,460 456,356
Net investment income 16,595 15,648 32,848 32,258
Net realized gains (losses):        
Total other-than-temporary impairment losses (423)   (423)  
Portion of loss recognized in other comprehensive income (before tax) 0 0 0 0
Net other-than-temporary impairment losses recognized in earnings (423)   (423)  
Other realized gains (losses) 4,339 4,473 9,935 5,306
Net realized gains (losses) 3,916 4,473 9,512 5,306
Other income (loss) (4,362) (1,665) (2,120) 8,734
Total revenues 258,477 249,540 518,700 502,654
Expenses:        
Net losses and loss adjustment expenses 141,973 140,220 272,171 275,287
Commission expenses 31,480 32,150 64,385 57,877
Other operating expenses 52,789 47,992 107,698 95,138
Interest expense 3,856 4,319 7,711 8,171
Total expenses 230,098 224,681 451,965 436,473
Income (loss) before income taxes 28,379 24,859 66,735 66,181
Income tax expense 9,195 7,998 21,622 21,352
Net income $ 19,184 $ 16,861 $ 45,113 $ 44,829
Net income per common share:        
Basic $ 1.33 $ 1.18 $ 3.14 $ 3.15
Diluted $ 1.30 $ 1.17 $ 3.06 $ 3.11
Average common shares outstanding:        
Basic 14,396,048 14,259,753 14,370,123 14,246,701
Diluted 14,763,002 14,377,476 14,726,282 14,401,740