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Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Net premiums earned $ 96,807 $ 89,100 $ 314,209 $ 231,070
Net investment income 5,578 4,027 16,010 12,434
Commissions and other income 3,413 1,407 7,488 3,789
Net realized gains on investments, excluding impairment losses 449 3,484 1,740 7,088
Other-than-temporary impairment losses on investments 0 (38) 0 (69)
Net unrealized gains (losses) on equity securities and limited partnership investments 1,924 2,498 (7,335) 8,515
Net realized and unrealized gains (losses) on investments 2,373 5,944 (5,595) 15,534
Total revenues 108,171 100,478 332,112 262,827
Expenses        
Losses and loss expenses incurred 94,540 60,673 244,327 181,026
Other operating expenses 29,200 29,187 99,984 82,185
Total expenses 123,740 89,860 344,311 263,211
Income (loss) before federal income tax expense (benefit) (15,569) 10,618 (12,199) (384)
Federal income tax expense (benefit) (3,244) 3,184 (2,691) (2,231)
Net income (loss) $ (12,325) $ 7,434 $ (9,508) $ 1,847
Per share data:        
Basic and diluted earnings (loss) (in dollars per share) $ (0.82) $ 0.49 $ (0.63) $ 0.12
Dividends paid to shareholders (in dollars per share) $ 0.28 $ 0.27 $ 0.84 $ 0.81
Reconciliation of shares outstanding:        
Average shares outstanding - basic (in shares) 14,969 15,089 14,998 15,084
Dilutive effect of share equivalents (in shares) 0 29 0 40
Average shares outstanding - diluted (in shares) 14,969 15,118 14,998 15,124