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Unaudited Quarterly Financial Data (Tables) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Unaudited quarterly financial data |
Unaudited quarterly financial data - current year:
Table: | 18.1a |  |  |  |  |  |  |  |  |  |
2020: |  | Quarter |  | Full
(In thousands, except per share data) |  | First |  | Second |  | Third |  | Fourth |  | Year
Net premiums earned |  | $ | 260,901 |  |  | $ | 243,562 |  |  | $ | 256,113 |  |  | $ | 261,367 |  |  | $ | 1,021,943 |
Investment income, net of expenses |  | 41,347 |  |  | 39,679 |  |  | 37,252 |  |  | 36,118 |  |  | 154,396 |
Realized gains (losses) |  | 1,891 |  |  | 6,701 |  |  | 2,259 |  |  | 2,901 |  |  | 13,752 |
Other revenue |  | 2,754 |  |  | 4,026 |  |  | 380 |  |  | 1,895 |  |  | 9,055 |
Loss incurred, net |  | 60,956 |  |  | 217,374 |  |  | 40,686 |  |  | 45,758 |  |  | 364,774 |
Underwriting and other expenses, net |  | 57,698 |  |  | 60,111 |  |  | 64,253 |  |  | 66,311 |  |  | 248,373 |
Loss on debt extinguishment |  | — |  |  | — |  |  | 26,736 |  |  | — |  |  | 26,736 |
Provision for income tax |  | 38,434 |  |  | 2,436 |  |  | 33,518 |  |  | 38,782 |  |  | 113,170 |
Net income |  | 149,805 |  |  | 14,047 |  |  | 130,811 |  |  | 151,430 |  |  | 446,093 |
Income per share (a) (b): |  |  |  |  |  |  |  |  |  |
Basic |  | 0.44 |  |  | 0.04 |  |  | 0.39 |  |  | 0.45 |  |  | 1.31 |
Diluted |  | 0.42 |  |  | 0.04 |  |  | 0.38 |  |  | 0.44 |  |  | 1.29 |
Unaudited quarterly financial statements - prior year:
Table: | 18.1b |  |  |  |  |  |  |  |  |  |
2019: |  | Quarter |  | Full
(In thousands, except per share data) |  | First |  | Second |  | Third |  | Fourth |  | Year
Net premiums earned |  | $ | 249,762 |  |  | $ | 247,102 |  |  | $ | 267,857 |  |  | $ | 266,267 |  |  | $ | 1,030,988 |
Investment income, net of expenses |  | 40,585 |  |  | 42,423 |  |  | 42,715 |  |  | 41,322 |  |  | 167,045 |
Realized gains (losses) |  | (526) |  |  | 307 |  |  | 4,205 |  |  | 1,320 |  |  | 5,306 |
Other revenue |  | 1,830 |  |  | 2,485 |  |  | 3,606 |  |  | 2,717 |  |  | 10,638 |
Loss incurred, net |  | 39,064 |  |  | 21,836 |  |  | 33,985 |  |  | 23,690 |  |  | 118,575 |
Underwriting and other expenses, net |  | 61,650 |  |  | 59,270 |  |  | 61,278 |  |  | 65,227 |  |  | 247,425 |
Provision for income tax |  | 38,996 |  |  | 43,433 |  |  | 46,186 |  |  | 45,599 |  |  | 174,214 |
Net income |  | 151,941 |  |  | 167,778 |  |  | 176,934 |  |  | 177,110 |  |  | 673,763 |
Income per share (a) (b): |  |  |  |  |  |  |  |  |  |
Basic |  | 0.43 |  |  | 0.47 |  |  | 0.50 |  |  | 0.51 |  |  | 1.91 |
Diluted |  | 0.42 |  |  | 0.46 |  |  | 0.49 |  |  | 0.49 |  |  | 1.85 |
(a)Due to the use of weighted average shares outstanding when calculating earnings per share, the sum of the quarterly per share data may not equal the per share data for the year. (b)In periods where convertible debt instruments are dilutive to earnings per share the “if-converted” method of computing diluted EPS requires an interest expense adjustment, net of tax, to net income available to shareholders. See Note 4 – “Earnings Per Share” for further discussion on our calculation of diluted EPS.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
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