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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues:        
Net premiums earned $ 355,580 $ 352,190 $ 706,923 $ 708,392
Net investment income earned 39,345 36,545 82,818 71,251
Net realized gains (losses):        
Net realized investment gains 2,315 2,920 8,705 11,096
Other-than-temporary impairments 163 (6,162) (369) (12,235)
Other-than-temporary impairments on fixed maturity securities recognized in other comprehensive income (332) (22) (430) (2,189)
Total net realized gains (losses) 2,146 (3,264) 7,906 (3,328)
Other income 2,499 2,247 5,379 4,515
Total revenues 399,570 387,718 803,026 780,830
Expenses:        
Losses and loss expenses incurred 274,555 239,980 523,761 494,123
Policy acquisition costs 113,843 116,099 227,273 232,101
Interest expense 4,559 4,655 9,116 9,497
Other expenses 5,392 4,136 13,883 14,614
Total expenses 398,349 364,870 774,033 750,335
Income from continuing operations, before federal income tax 1,221 22,848 28,993 30,495
Federal income tax (benefit) expense:        
Current 3,111 1,322 7,387 10,166
Deferred (4,215) 1,435 (2,268) (6,355)
Total federal income tax (benefit) expense (1,104) 2,757 5,119 3,811
Net income from continuing operations 2,325 20,091 23,874 26,684
Loss on disposal of discontinued operations, net of tax of $(713) for Second Quarter 2010 and $(1,139) for Six Months 2010 0 (1,325) 0 (2,115)
Net income $ 2,325 $ 18,766 $ 23,874 $ 24,569
Earnings per share:        
Basic net income from continuing operations $ 0.04 $ 0.37 $ 0.44 $ 0.50
Basic net loss from disposal of discontinued operations $ 0.00 $ (0.02) $ 0.00 $ (0.04)
Basic net income $ 0.04 $ 0.35 $ 0.44 $ 0.46
Diluted net income from continuing operations $ 0.04 $ 0.37 $ 0.43 $ 0.49
Diluted net loss from disposal of discontinued operations $ 0.00 $ (0.02) $ 0.00 $ (0.04)
Diluted net income $ 0.04 $ 0.35 $ 0.43 $ 0.45
Dividends to stockholders $ 0.13 $ 0.13 $ 0.26 $ 0.26