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Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Net premiums earned $ 97,730 $ 115,631 $ 207,389 $ 225,644
Net investment income 6,379 6,500 13,616 12,732
Commissions and other income 1,889 1,978 3,551 4,043
Net realized gains (losses) on investments, excluding impairment losses (4,099) 713 (8,886) 673
Impairment losses on investments (418) (86) (458) (346)
Net unrealized gains (losses) on equity securities and limited partnership investments 15,132 2,262 (7,797) 8,589
Net realized and unrealized gains (losses) on investments 10,615 2,889 (17,141) 8,916
Total revenues 116,613 126,998 207,415 251,335
Expenses        
Losses and loss expenses incurred 68,208 90,433 150,040 177,555
Other operating expenses 34,198 34,615 68,307 68,316
Total expenses 102,406 125,048 218,347 245,871
Income (loss) before federal income tax expense (benefit) 14,207 1,950 (10,932) 5,464
Federal income tax expense (benefit) 2,840 415 (143) 1,181
Net income (loss) $ 11,367 $ 1,535 $ (10,789) $ 4,283
Net income (loss) per share:        
Basic (in dollars per share) $ 0.81 $ 0.11 $ (0.76) $ 0.28
Diluted (in dollars per share) $ 0.80 $ 0.11 $ (0.76) $ 0.28
Weighted average number of shares outstanding:        
Basic (in shares) 14,117 14,616 14,143 14,731
Dilutive effect of share equivalents (in shares) 62 63 0 60
Diluted (in shares) 14,179 14,679 14,143 14,791