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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2010
Sep. 30, 2010
Jun. 30, 2010
Mar. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues:                      
Net premiums earned $ 373,427 $ 358,963 $ 355,580 $ 351,343 $ 353,497 $ 354,709 $ 352,190 $ 356,202 $ 1,439,313 $ 1,416,598 $ 1,431,047
Net investment income earned 28,839 35,786 39,345 43,473 41,471 32,986 36,545 34,706 147,443 145,708 118,471
Net realized gains (losses):                      
Net realized investment gains (3,621) (2,045) 2,146 5,760 (3,812) 57 (3,264) (64) 15,426 10,575 9,446
Other-than-temporary impairments                 (11,998) (16,225) (64,184)
Other-than-temporary impairments on fixed maturity securities recognized in other comprehensive income                 (1,188) (1,433) 8,768
Total net realized gains (losses)                 2,240 (7,083) (45,970)
Other income                 8,479 9,398 10,470
Total revenues                 1,597,475 1,564,621 1,514,018
Expenses:                      
Losses and loss expenses incurred                 1,074,987 982,118 971,905
Policy acquisition costs                 469,739 458,045 457,424
Interest expense                 18,259 18,616 19,386
Other expenses                 26,425 23,886 26,117
Total expenses                 1,589,410 1,482,665 1,474,832
Income from continuing operations, before federal income tax                 8,065 81,956 39,186
Federal income tax (benefit) expense:                      
Current                 (228) 5,323 3,585
Deferred                 (12,222) 7,312 (9,057)
Total federal income tax (benefit) expense                 (12,450) 12,635 (5,472)
Net income from continuing operations 16,133 [1] (19,492) [1] 2,325 [1] 21,549 [1] 23,806 [1] 18,831 [1] 20,091 [1] 6,593 [1] 20,515 69,321 44,658
Loss from discontinued operations, net of tax of $(4,042) - 2009                 0 0 (7,086)
Loss on disposal of discontinued operations, net of tax of $(350) - 2011; $(2,035) - 2010; $(631) - 2009                 (650) (3,780) (1,174)
Total discontinued operations, net of tax 0 [1] (650) [1] 0 [1] 0 [1] (31) [1] (1,634) [1] (1,325) [1] (790) [1] (650) (3,780) (8,260)
Net income $ 16,133 $ (20,142) $ 2,325 $ 21,549 $ 23,775 $ 17,197 $ 18,766 $ 5,803 $ 19,865 $ 65,541 $ 36,398
Earnings per share:                      
Basic net income from continuing operations                 $ 0.38 $ 1.30 $ 0.84
Basic net loss from discontinued operations                 $ (0.01) $ (0.07) $ (0.15)
Basic net income $ 0.30 $ (0.37) $ 0.04 $ 0.40 $ 0.44 $ 0.32 $ 0.35 $ 0.11 $ 0.37 $ 1.23 $ 0.69
Diluted net income from continuing operations                 $ 0.37 $ 1.27 $ 0.83
Diluted net loss from discontinued operations                 $ (0.01) $ (0.07) $ (0.15)
Diluted net income $ 0.29 $ (0.37) $ 0.04 $ 0.39 $ 0.43 $ 0.32 $ 0.35 $ 0.11 $ 0.36 $ 1.20 $ 0.68
Dividends to stockholders $ 0.13 [2] $ 0.13 [2] $ 0.13 [2] $ 0.13 [2] $ 0.13 [2] $ 0.13 [2] $ 0.13 [2] $ 0.13 [2] $ 0.52 $ 0.52 $ 0.52
[1] 1 See Note 12. "Discontinued Operations" for a discussion of discontinued operations.
[2] 2 See Note 10. "Indebtedness" for a discussion of dividend restrictions.