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Unaudited Consolidated Statements of Income (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues    
Net premiums earned$ 60,429$ 52,588$ 180,374$ 157,277
Net investment income2,7792,8658,0768,833
Commissions and other income1,4211,6034,5945,024
Net realized gains (losses) on investments, excluding impairment losses(16,084)10,271(19,398)10,618
Total other-than-temporary impairment losses on investments(1,376)0(1,494)(15)
Net realized gains (losses) on investments(17,460)10,271(20,892)10,603
Total revenues47,16967,327172,152181,737
Expenses    
Losses and loss expenses incurred48,63736,084169,476110,268
Other operating expenses18,71317,71155,26651,583
Total expenses67,35053,795224,742161,851
Income (loss) before federal income taxes(20,181)13,532(52,590)19,886
Federal income taxes (benefits)(7,210)4,298(18,917)5,121
Net income (loss)$ (12,971)$ 9,234$ (33,673)$ 14,765
Per share data:    
Basic and diluted earnings (losses) (in dollars per share)$ (0.87)$ 0.62$ (2.27)$ 1.00
Dividends paid to shareholders (in dollars per share)$ 0.25$ 0.25$ 0.75$ 1.00
Reconciliation of shares outstanding:    
Average shares outstanding - basic (in shares)14,82614,79414,81614,779
Dilutive effect of share equivalents (in shares)11151930
Average shares outstanding - diluted (in shares)14,83714,80914,83514,809