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Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Net premiums earned $ 110,013 $ 105,462
Net investment income 6,232 4,636
Commissions and other income 2,064 1,814
Net realized gains (losses) on investments, excluding impairment losses (39) 376
Other-than-temporary impairment losses on investments (260) 0
Net unrealized gains (losses) on equity securities and limited partnership investments 6,327 (4,909)
Net realized and unrealized gains (losses) on investments 6,028 (4,533)
Total revenues 124,337 107,379
Expenses    
Losses and loss expenses incurred 87,122 72,298
Other operating expenses 33,701 34,767
Total expenses 120,823 107,065
Income before federal income tax expense (benefit) 3,514 314
Federal income tax expense (benefit) 766 (16)
Net income $ 2,748 $ 330
Per share data:    
Basic and diluted earnings (in dollars per share) $ 0.18 $ 0.02
Dividends paid to shareholders (in dollars per share) $ 0.10 $ 0.28
Reconciliation of shares outstanding:    
Average shares outstanding - basic (in shares) 14,848 15,010
Dilutive effect of share equivalents (in shares) 30 24
Average shares outstanding - diluted (in shares) 14,878 15,034