XML 14 R3.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Net premiums earned $ 942,150 $ 834,439 $ 1,844,486 $ 1,646,722
Net investment income earned 97,696 70,222 189,202 142,824
Net realized and unrealized investment gains (losses) (5,426) (42,880) (2,082) (83,232)
Other income 6,104 3,037 8,738 4,566
Total revenues 1,040,524 864,818 2,040,344 1,710,880
Expenses:        
Loss and loss expense incurred 646,130 524,868 1,213,568 1,019,104
Amortization of deferred policy acquisition costs 194,793 173,381 384,554 343,138
Other insurance expenses 108,857 101,514 217,445 195,504
Interest expense 7,258 7,252 14,424 14,420
Corporate expenses 9,329 7,899 21,437 18,920
Total expenses 966,367 814,914 1,851,428 1,591,086
Income before federal income tax 74,157 49,904 188,916 119,794
Federal income tax expense:        
Current 17,366 9,692 42,871 26,870
Deferred (1,817) 692 (5,137) (2,926)
Total federal income tax expense 15,549 10,384 37,734 23,944
Net income 58,608 39,520 151,182 95,850
Preferred stock dividends 2,300 2,300 4,600 4,600
Net income available to common stockholders $ 56,308 $ 37,220 $ 146,582 $ 91,250
Earnings per common share (not in thousands):        
Earnings per common share - net income available to common stockholders - Basic $ 0.93 $ 0.62 $ 2.42 $ 1.51
Earnings per common share - net income available to common stockholders - Diluted $ 0.92 $ 0.61 $ 2.41 $ 1.50