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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Net premiums written $ 210,342 $ 202,287 $ 410,073 $ 406,648
Decrease in unearned premiums 1,669 15,150 17,268 29,856
Net premiums earned 212,011 217,437 427,341 436,504
Net investment income 29,339 21,743 54,019 43,531
Realized investment (losses) gains, net (471) (253) (7,823) 388
Income from other invested assets 1,953 122 26,658 648
Other income 1,577 4,212 8,825 6,987
Total revenues 244,409 243,261 509,020 488,058
Losses and expenses:        
(Benefit) provision for losses and LAE (76,199) 9,651 (183,057) 41,973
Other underwriting and operating expenses 41,898 41,114 82,694 83,353
Interest expense 2,887 2,073 5,113 4,124
Total losses and expenses (31,414) 52,838 (95,250) 129,450
Income before income taxes 275,823 190,423 604,270 358,608
Income tax expense 44,054 30,628 98,334 63,165
Net income $ 231,769 $ 159,795 $ 505,936 $ 295,443
Earnings per share:        
Basic (in dollars per share) $ 2.17 $ 1.43 $ 4.70 $ 2.64
Diluted (in dollars per share) $ 2.16 $ 1.42 $ 4.69 $ 2.63
Weighted average shares outstanding:        
Basic (in shares) 106,921 112,118 107,540 112,067
Diluted (in shares) 107,283 112,454 107,933 112,416
Net income $ 231,769 $ 159,795 $ 505,936 $ 295,443
Other comprehensive income (loss):        
Change in unrealized appreciation (depreciation) of investments, net of tax expense (benefit) of ($24,235) and $7,856 in the three months ended June 30, 2022 and 2021 and ($60,132) and ($2,345) in the six months ended June 30, 2022 and 2021 (134,268) 36,360 (337,274) (22,843)
Total other comprehensive income (loss) (134,268) 36,360 (337,274) (22,843)
Comprehensive income $ 97,501 $ 196,155 $ 168,662 $ 272,600