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Condensed Consolidated Statements of Income - Unaudited - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Direct premiums $ 868,651 $ 852,452 $ 2,593,750 $ 2,538,856
Ceded premiums (414,104) (412,645) (1,258,034) (1,249,970)
Net premiums 454,547 439,807 1,335,716 1,288,886
Commissions and fees 325,490 271,901 928,478 789,039
Investment income net of investment expenses 56,907 57,017 168,796 164,719
Interest expense on surplus note (14,476) (15,908) (43,766) (47,352)
Net investment income 42,431 41,109 125,030 117,367
Realized investment gains (losses) 170 311 (2,251) 882
Other investment gains (losses) 482 1,898 794 2,533
Investment gains (losses) 652 2,209 (1,457) 3,415
Other, net 16,732 19,103 50,261 102,326
Total revenues 839,852 774,129 2,438,028 2,301,033
Benefits and expenses:        
Benefits and claims 172,152 164,363 499,507 480,714
Future policy benefits remeasurement (gain) loss (23,114) (23,019) (32,282) (27,294)
Amortization of deferred policy acquisition costs 81,498 75,539 240,091 221,231
Sales commissions 174,688 142,254 499,097 415,546
Insurance expenses 64,131 63,529 193,299 189,363
Insurance commissions 5,499 7,180 17,374 24,213
Interest expense 5,985 6,093 17,990 18,964
Other operating expenses 87,334 83,612 275,462 257,561
Total benefits and expenses 568,173 519,551 1,710,538 1,580,298
Income from continuing operations before income taxes 271,679 254,578 727,490 720,735
Income taxes from continuing operations 64,886 59,841 173,303 168,283
Income from continuing operations 206,793 194,737 554,187 552,452
Loss from discontinued operations, net of income taxes 0 (30,364) 0 (249,005)
Net income $ 206,793 $ 164,373 $ 554,187 $ 303,447
Basic earnings per share:        
Continuing operations $ 6.36 $ 5.73 $ 16.81 $ 16.02
Discontinued operations 0 (0.89) 0 (7.22)
Basic earnings per share 6.36 4.84 16.81 8.80
Diluted earnings per share:        
Continuing operations 6.35 5.72 16.79 16.00
Discontinued operations 0 (0.89) 0 (7.22)
Diluted earnings per share $ 6.35 $ 4.83 $ 16.79 $ 8.78
Weighted-average shares used in computing earnings per share:        
Basic 32,404 33,834 32,852 34,365
Diluted 32,451 33,891 32,898 34,421