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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues        
Gross premiums written $ 145,508 $ 98,215 $ 233,095 $ 194,235
Gross premiums ceded 0 0 0 (9,975)
Net premiums written 145,508 98,215 233,095 184,260
Change in net unearned premium reserves (66,758) (35,928) (81,083) (88,432)
Net premiums earned 78,750 62,287 152,012 95,828
Net investment income 40,485 32,826 90,520 114,187
Total revenues 119,235 95,113 242,532 210,015
Expenses        
Loss and loss adjustment expenses incurred, net 44,409 45,692 90,668 64,330
Acquisition costs, net 29,583 14,921 55,014 27,994
General and administrative expenses 9,549 7,217 19,574 14,225
Other expenses 1,020 759 1,807 1,429
Total expenses 84,561 68,589 167,063 107,978
Income before income tax expense 34,674 26,524 75,469 102,037
Income tax expense (2,375) 0 (2,375) 0
Income including non-controlling interests 32,299 26,524 73,094 102,037
Income attributable to non-controlling interests (1,007) (301) (2,023) (1,384)
Net income $ 31,292 $ 26,223 $ 71,071 $ 100,653
Earnings per share        
Basic (in dollars per share) $ 0.30 $ 0.33 $ 0.68 $ 1.27
Diluted (in dollars per share) $ 0.29 $ 0.33 $ 0.66 $ 1.26
Weighted average number of common shares used in the determination of earnings per share        
Basic (in shares) 103,264,616 78,432,132 103,264,616 78,432,132
Diluted (in shares) 106,433,881 79,254,268 106,505,715 79,147,972