XML 14 R3.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Net premiums earned $ 981,917 $ 853,879 $ 2,826,403 $ 2,500,601
Net investment income earned 100,863 63,889 290,065 206,713
Net realized and unrealized investment gains (losses) (6,880) (25,681) (8,962) (108,913)
Other income 5,181 2,933 13,919 7,499
Total revenues 1,081,081 895,020 3,121,425 2,605,900
Expenses:        
Loss and loss expense incurred 645,897 547,826 1,859,465 1,566,930
Amortization of deferred policy acquisition costs 201,106 179,048 585,660 522,186
Other insurance expenses 108,504 102,806 325,949 298,310
Interest expense 7,186 7,179 21,610 21,599
Corporate expenses 5,871 5,522 27,308 24,442
Total expenses 968,564 842,381 2,819,992 2,433,467
Income before federal income tax 112,517 52,639 301,433 172,433
Federal income tax expense:        
Current 24,133 14,813 67,004 41,682
Deferred (824) (4,699) (5,961) (7,624)
Total federal income tax expense 23,309 10,114 61,043 34,058
Net income 89,208 42,525 240,390 138,375
Preferred stock dividends 2,300 2,300 6,900 6,900
Net income available to common stockholders $ 86,908 $ 40,225 $ 233,490 $ 131,475
Earnings per common share (in dollars per share):        
Earnings per common share - net income available to common stockholders - Basic $ 1.43 $ 0.67 $ 3.85 $ 2.18
Earnings per common share - net income available to common stockholders - Diluted $ 1.42 $ 0.66 $ 3.83 $ 2.16