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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Premiums written:    
Direct $ 273,897 $ 270,034
Assumed 1,107 92
Ceded (30,723) (33,220)
Net premiums written 244,281 236,906
Decrease (increase) in unearned premiums, net 5,480 (4,799)
Net premiums earned 249,761 232,107
Investment income, net of expenses 40,585 32,121
Net realized investment losses (526) (329)
Other revenue 1,830 1,871
Total revenues 291,650 265,770
Losses and expenses:    
Losses incurred, net 39,063 23,850
Amortization of deferred policy acquisition costs 2,478 2,572
Other underwriting and operating expenses, net 45,940 46,090
Interest expense 13,233 13,233
Total losses and expenses 100,714 85,745
Income before tax 190,936 180,025
Provision for income taxes 38,995 36,388
Net income $ 151,941 $ 143,637
Earnings per share:    
Basic (in dollars per share) $ 0.43 $ 0.39
Diluted (in dollars per share) $ 0.42 $ 0.38
Weighted average common shares outstanding - basic (in shares) 355,653 370,908
Weighted average common shares outstanding - diluted (in shares) 376,667 391,562