XML 14 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Net premiums written $ 241,488 $ 245,566 $ 479,759 $ 484,106
Decrease in unearned premiums 7,321 6,325 14,898 13,375
Net premiums earned 248,809 251,891 494,657 497,481
Net investment income 59,289 56,086 117,499 108,171
Realized investment losses, net (129) (1,164) (310) (2,304)
Income (loss) from other invested assets 4,466 (419) 11,874 (2,334)
Other income 6,708 6,548 12,981 10,285
Total revenues 319,143 312,942 636,701 611,299
Losses and expenses:        
Provision (benefit) for losses and LAE 17,055 (334) 48,342 9,579
Other underwriting and operating expenses 62,765 66,202 133,889 133,042
Interest expense 8,148 7,849 16,296 15,711
Total losses and expenses 87,968 73,717 198,527 158,332
Income before income taxes 231,175 239,225 438,174 452,967
Income tax expense 35,836 35,616 67,402 67,639
Net income $ 195,339 $ 203,609 $ 370,772 $ 385,328
Earnings per share:        
Basic (in dollars per share) $ 1.95 $ 1.93 $ 3.65 $ 3.65
Diluted (in dollars per share) $ 1.93 $ 1.91 $ 3.62 $ 3.61
Weighted average shares outstanding:        
Basic (in shares) 100,037 105,657 101,451 105,677
Diluted (in shares) 101,059 106,778 102,495 106,774
Other comprehensive income (loss):        
Change in unrealized appreciation (depreciation) of investments, net of tax expense (benefit) of $2,070 and ($1,592) in the three months ended June 30, 2025 and 2024, and $13,365 and ($4,714) in the six months ended June 30, 2025 and 2024, respectively. $ 16,580 $ (5,375) $ 88,318 $ (27,141)
Total other comprehensive income (loss) 16,580 (5,375) 88,318 (27,141)
Comprehensive income $ 211,919 $ 198,234 $ 459,090 $ 358,187