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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
PREMIUMS EARNED AND OTHER REVENUES      
Direct premiums written $ 883,409 $ 789,577 $ 783,894
Ceded premiums written (256,961) (399,730) (522,116)
Net premiums written 626,448 389,847 261,778
Change in net unearned premium (122,449) (62,970) 5,877
Premiums earned, net 503,999 326,877 267,655
Net investment income (expense) 5,155 2,375 1,928
Net realized gains (losses) on investments 1,060 5,627 (14,740)
Net change in unrealized gains (losses) on investments     7,850
Commission revenue 14,870 14,205 18,615
Policy fees 15,440 13,982 13,661
Other revenue 6,020 6,210 6,190
Total premiums earned and other revenues 546,544 369,276 301,159
OPERATING COSTS AND EXPENSES      
Losses and loss adjustment expenses 187,739 123,275 108,615
General and administrative expenses 183,782 118,397 91,988
Total operating costs and expenses 371,521 241,672 200,603
INCOME BEFORE INCOME TAXES 175,023 127,604 100,556
Income tax expense 68,539 54,616 41,579
NET INCOME [1] $ 106,484 $ 72,988 $ 58,977
Basic earnings per common share $ 3.06 $ 2.17 $ 1.64
Weighted average common shares outstanding - Basic 34,799 33,569 35,866
Fully diluted earnings per common share $ 2.97 $ 2.08 $ 1.56
Weighted average common shares outstanding - Diluted 35,884 35,150 37,776
Cash dividend declared per common share $ 0.63 $ 0.55 $ 0.49
[1] See “—Note 8 (Stockholders’ Equity)” for an explanation of events subsequent to December 31, 2014 giving rise to pro-forma stockholders’ equity of $218.9 million as of December 31, 2014.