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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Net premiums written $ 209,230 $ 202,348 $ 619,303 $ 608,996
Decrease (increase) in unearned premiums (1,296) 16,370 15,972 46,226
Net premiums earned 207,934 218,718 635,275 655,222
Net investment income 32,594 21,573 86,613 65,104
Realized investment (losses) gains, net 175 221 (7,648) 609
Income from other invested assets 9,617 40,741 36,275 41,389
Other income 11,447 2,283 20,272 9,270
Total revenues 261,767 283,536 770,787 771,594
Losses and expenses:        
(Benefit) provision for losses and LAE 4,252 (7,483) (178,805) 34,490
Other underwriting and operating expenses 42,144 42,272 124,838 125,625
Interest expense 4,450 2,063 9,563 6,187
Total losses and expenses 50,846 36,852 (44,404) 166,302
Income before income taxes 210,921 246,684 815,191 605,292
Income tax expense 32,870 41,331 131,204 104,496
Net income $ 178,051 $ 205,353 $ 683,987 $ 500,796
Earnings per share:        
Basic (in dollars per share) $ 1.67 $ 1.85 $ 6.37 $ 4.48
Diluted (in dollars per share) $ 1.66 $ 1.84 $ 6.35 $ 4.47
Weighted average shares outstanding:        
Basic (in shares) 106,870 111,001 107,314 111,708
Diluted (in shares) 107,337 111,387 107,732 112,070
Net income $ 178,051 $ 205,353 $ 683,987 $ 500,796
Other comprehensive income (loss):        
Change in unrealized appreciation (depreciation) of investments, net of tax expense (benefit) of ($22,000) and ($8,599) in the three months ended September 30, 2022 and 2021 and ($82,132) and ($10,944) in the nine months ended September 30, 2022 and 2021 (137,010) (36,917) (474,284) (59,760)
Total other comprehensive income (loss) (137,010) (36,917) (474,284) (59,760)
Comprehensive income $ 41,041 $ 168,436 $ 209,703 $ 441,036