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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenue        
Gross premiums earned $ 81,952 $ 53,772 $ 164,499 $ 108,470
Premiums ceded (24,617) (16,702) (46,613) (30,969)
Net premiums earned 57,335 37,070 117,886 77,501
Net investment income 295 302 434 824
Policy fee income 1,426 1,028 2,198 1,543
Net realized investment (losses) gains (8) 9 12 30
Gain on bargain purchase   179   179
Other 285 267 614 430
Total revenue 59,333 38,855 121,144 80,507
Expenses        
Losses and loss adjustment expenses 17,414 16,197 33,286 35,365
Policy acquisition and other underwriting expenses 7,308 6,243 13,276 13,079
Interest expense 846   1,532  
Other operating expenses 7,358 4,406 13,473 8,673
Total expenses 32,926 26,846 61,567 57,117
Income before income taxes 26,407 12,009 59,577 23,390
Income taxes 10,172 4,747 22,955 9,160
Net income 16,235 7,262 36,622 14,230
Preferred stock dividends (32) (63) (66) (244)
Income available to common stockholders $ 16,203 $ 7,199 $ 36,556 $ 13,986
Basic earnings per common share $ 1.44 $ 0.85 $ 3.31 $ 1.89
Diluted earnings per common share $ 1.40 $ 0.74 $ 3.20 $ 1.60
Dividends per common share $ 0.23 $ 0.20 $ 0.45 $ 0.35