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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Net premiums earned $ 653,620 $ 614,277 $ 1,928,812 $ 1,810,941
Net investment income earned 55,826 52,443 164,949 141,227
Net realized and unrealized (losses) gains:        
Net realized investment gains (losses) on disposals 20,425 (751) 26,752 4,034
Unrealized losses on equity securities (20,317) (2,610) (8,091) (15,563)
Other-than-temporary impairments (2,291) (1,426) (3,366) (5,459)
Total net realized and unrealized (losses) gains (2,183) (4,787) 15,295 (16,988)
Other income 3,162 2,538 8,535 7,896
Total revenues 710,425 664,471 2,117,591 1,943,076
Expenses:        
Loss and loss expense incurred 398,675 379,199 1,166,238 1,130,468
Amortization of deferred policy acquisition costs 136,572 124,511 399,647 368,265
Other insurance expenses 90,234 80,108 261,975 244,342
Interest expense 7,397 6,073 26,289 18,350
Corporate expenses 6,369 7,450 28,345 22,065
Total expenses 639,247 597,341 1,882,494 1,783,490
Income before federal income tax 71,178 67,130 235,097 159,586
Federal income tax expense:        
Current 13,805 10,314 44,344 23,529
Deferred 1,223 1,381 989 2,878
Total federal income tax expense 15,028 11,695 45,333 26,407
Net income $ 56,150 $ 55,435 $ 189,764 $ 133,179
Earnings per share:        
Basic net income $ 0.94 $ 0.94 $ 3.20 $ 2.26
Diluted net income $ 0.93 $ 0.93 $ 3.16 $ 2.23