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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Premiums written:        
Direct $ 283,224 $ 283,189 $ 557,948 $ 557,086
Assumed 3,899 1,505 6,758 2,612
Ceded (65,738) (41,096) (97,314) (71,819)
Net premiums written 221,385 243,598 467,392 487,879
Decrease in unearned premiums, net 22,177 3,504 37,071 8,984
Net premiums earned 243,562 247,102 504,463 496,863
Investment income, net of expenses 39,679 42,423 81,026 83,008
Net realized investment gains (losses) 6,701 307 8,592 (219)
Other revenue 4,026 2,485 6,780 4,315
Total revenues 293,968 292,317 600,861 583,967
Losses and expenses:        
Losses incurred, net 217,374 21,836 278,330 60,899
Amortization of deferred policy acquisition costs 2,909 2,760 5,419 5,238
Other underwriting and operating expenses, net 44,273 42,960 86,535 88,900
Interest expense 12,929 13,550 25,855 26,783
Total losses and expenses 277,485 81,106 396,139 181,820
Income before tax 16,483 211,211 204,722 402,147
Provision for income taxes 2,436 43,433 40,870 82,428
Net income $ 14,047 $ 167,778 $ 163,852 $ 319,719
Earnings per share:        
Basic (in dollars per share) $ 0.04 $ 0.47 $ 0.48 $ 0.90
Diluted (in dollars per share) $ 0.04 $ 0.46 $ 0.48 $ 0.87
Weighted average common shares outstanding - basic (in shares) 338,593 355,734 341,323 355,694
Weighted average common shares outstanding - diluted (in shares) 339,661 376,603 362,003 376,635