XML 23 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:      
Direct premiums $ 2,667,104 $ 2,562,109 $ 2,444,268
Ceded premiums (1,581,164) (1,600,771) (1,600,559)
Net premiums 1,085,940 961,338 843,709
Revenues 1,899,843 1,689,102 1,519,084
Investment income net of investment expenses 118,915 105,882 97,905
Interest expense on surplus note (37,485) (26,865) (18,880)
Net investment income 81,430 79,017 79,025
Realized investment gains (losses), including other-than- temporary impairment losses (2,121) 1,339 4,088
Other, net 56,987 56,091 50,576
Benefits and expenses:      
Benefits and claims 457,583 416,019 367,655
Amortization of deferred policy acquisition costs 239,730 209,399 180,582
Sales commissions 335,384 297,988 272,815
Insurance expenses 168,156 147,280 132,348
Insurance commissions 24,490 21,108 17,783
Interest expense 28,809 28,488 28,691
Other operating expenses 229,607 189,300 181,615
Total benefits and expenses 1,483,759 1,309,582 1,181,489
Income before income taxes 416,084 379,520 337,595
Income taxes 91,990 29,265 118,181
Net income $ 324,094 $ 350,255 $ 219,414
Earnings per share:      
Basic earnings per share $ 7.35 $ 7.63 $ 4.59
Diluted earnings per share $ 7.33 $ 7.61 $ 4.59
Weighted-average shares used in computing earnings per share:      
Basic 43,854 45,598 47,411
Diluted 43,985 45,689 47,453
Supplemental disclosures:      
Total impairment losses $ (152) $ (1,700) $ (3,420)
Impairment losses recognized in other comprehensive income before income taxes   147  
Net impairment losses recognized in earnings (152) (1,553) (3,420)
Other net realized investment gains (losses) 487 2,892 7,508
Net gains (losses) recognized on equity securities (2,456)    
Net realized investment gains (losses), including other-than- temporary impairment losses (2,121) 1,339 4,088
Commissions and Fees [Member]      
Revenues:      
Revenues $ 677,607 $ 591,317 $ 541,686