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Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Net premiums earned $ 110,288 $ 96,807 $ 335,931 $ 314,209
Net investment income 6,703 5,578 19,434 16,010
Commissions and other income 2,716 3,413 6,761 7,488
Net realized gains on investments, excluding impairment losses 1,199 449 1,872 1,740
Other-than-temporary impairment losses on investments (58) 0 (404) 0
Net unrealized gains (losses) on equity securities and limited partnership investments (1,016) 1,924 7,573 (7,335)
Net realized and unrealized gains (losses) on investments 125 2,373 9,041 (5,595)
Total revenues 119,832 108,171 371,167 332,112
Expenses        
Losses and loss expenses incurred 84,781 94,540 262,336 244,327
Other operating expenses 36,070 29,200 104,386 99,984
Total expenses 120,851 123,740 366,722 344,311
Income (loss) before federal income tax expense (benefit) (1,019) (15,569) 4,445 (12,199)
Federal income tax expense (benefit) (312) (3,244) 869 (2,691)
Net income (loss) $ (707) $ (12,325) $ 3,576 $ (9,508)
Per share data:        
Basic and diluted earnings (loss) (in dollars per share) $ (0.05) $ (0.82) $ 0.24 $ (0.63)
Reconciliation of shares outstanding:        
Average shares outstanding - basic (in shares) 14,361 14,969 14,607 14,998
Dilutive effect of share equivalents (in shares) 0 0 77 0
Average shares outstanding - diluted (in shares) 14,361 14,969 14,684 14,998