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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Net premiums earned $ 223,591 $ 180,353 $ 410,750 $ 363,256
Net investment income 22,384 22,677 44,411 45,863
Equity in earnings (loss) of unconsolidated subsidiaries 5,380 2,516 7,019 4,324
Net realized investment gains (losses):        
OTTI losses (404) 0 (404) (419)
Portion of OTTI losses recognized in other comprehensive income before taxes 0 0 0 248
Net impairment losses recognized in earnings (404) 0 (404) (171)
Other net realized investment gains (losses) 3,199 (2,219) (9,318) 11,232
Total net realized investment gains (losses) 2,795 (2,219) (9,722) 11,061
Other income 2,044 2,250 4,767 4,071
Total revenues 256,194 205,577 457,225 428,575
Expenses        
Net losses and loss adjustment expenses 161,728 115,550 291,515 234,701
Underwriting, policy acquisition and operating expenses        
Operating expense 33,958 34,972 66,422 69,454
DPAC amortization 25,653 22,913 50,547 45,540
Segregated portfolio cells dividend expense (income) 2,785 8,811 4,532 11,186
Interest expense 3,958 4,145 7,663 8,278
Total expenses 228,082 186,391 420,679 369,159
Income before income taxes 28,112 19,186 36,546 59,416
Provision for income taxes        
Current expense (benefit) (1,175) 6,700 (2,503) (1,579)
Deferred expense (benefit) 864 (7,032) (1,230) 22
Total income tax expense (benefit) (311) (332) (3,733) (1,557)
Net income 28,423 19,518 40,279 60,973
Other comprehensive income (loss), after tax, net of reclassification adjustments (8,096) 5,741 (34,470) 8,665
Comprehensive income (loss) $ 20,327 $ 25,259 $ 5,809 $ 69,638
Earnings per share        
Basic (USD per share) $ 0.53 $ 0.37 $ 0.75 $ 1.14
Diluted (USD per share) $ 0.53 $ 0.36 $ 0.75 $ 1.14
Weighted average number of common shares outstanding:        
Basic (in shares) 53,610 53,402 53,567 53,359
Diluted (in shares) 53,741 53,607 53,716 53,571
Cash dividends declared per common share (USD per share) $ 0.31 $ 0.31 $ 0.62 $ 0.62