XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Premiums written:        
Direct $ 275,124 $ 280,885 $ 823,664 $ 828,211
Assumed 3,602 3,770 10,371 9,538
Ceded (44,720) (50,164) (132,751) (141,842)
Net premiums written 234,006 234,491 701,284 695,907
Decrease in unearned premiums, net 9,334 6,786 28,228 30,196
Net premiums earned 243,340 241,277 729,512 726,103
Investment income, net of expenses 62,093 55,375 183,316 156,938
Net gains (losses) on investments and other financial instruments 583 (695) (8,202) (13,380)
Other revenue 633 548 1,661 1,484
Total revenues 306,649 296,505 906,287 871,145
Losses and expenses:        
Losses incurred, net (9,842) (77) (23,559) (11,322)
Amortization of deferred insurance policy acquisition costs 2,323 2,802 6,482 7,889
Other underwriting and operating expenses, net 50,967 50,130 162,660 174,191
Interest expense 8,905 9,254 26,703 28,005
Total losses and expenses 52,353 62,109 172,286 198,763
Income before tax 254,296 234,396 734,001 672,382
Provision for income tax 54,327 51,552 155,707 143,937
Net income $ 199,969 $ 182,844 $ 578,294 $ 528,445
Earnings per share:        
Basic (in dollars per share) $ 0.77 $ 0.65 $ 2.18 $ 1.85
Diluted (in dollars per share) $ 0.77 $ 0.64 $ 2.17 $ 1.83
Weighted average common shares outstanding - basic (in shares) 258,596 281,757 264,719 286,184
Weighted average common shares outstanding - diluted (in shares) 260,833 285,600 266,915 289,924