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Unaudited Consolidated Statements of Income (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Net premiums earned $ 62,344 $ 53,523 $ 119,945 $ 104,689
Net investment income 2,644 2,944 5,297 5,968
Commissions and other income 1,566 1,673 3,173 3,421
Net realized gains (losses) on investments, excluding impairment losses (1,845) (2,843) (3,314) 347
Total other-than-temporary impairment losses on investments (118) (15) (118) (15)
Net realized gains (losses) on investments (1,963) (2,858) (3,432) 332
Total revenues 64,591 55,282 124,983 114,410
Expenses        
Losses and loss expenses incurred 55,166 31,152 120,839 74,184
Other operating expenses 18,117 17,527 36,553 33,872
Total expenses 73,283 48,679 157,392 108,056
Income (loss) before federal income taxes (benefits) (8,692) 6,603 (32,409) 6,354
Federal income taxes (benefits) (3,188) 1,617 (11,707) 823
Net income (loss) $ (5,504) $ 4,986 $ (20,702) $ 5,531
Per share data:        
Basic and diluted earnings (losses) (in dollars per share) $ (0.38) $ 0.33 $ (1.40) $ 0.37
Dividends paid to shareholders (in dollars per share) $ 0.25 $ 0.25 $ 0.50 $ 0.75
Reconciliation of shares outstanding:        
Average shares outstanding - basic (in shares) 14,819 14,786 14,810 14,771
Dilutive effect of share equivalents (in shares) 15 16 21 28
Average shares outstanding - diluted (in shares) 14,834 14,802 14,831 14,799