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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
PREMIUMS EARNED AND OTHER REVENUES        
Direct premiums written $ 241,888 $ 222,572 $ 741,782 $ 684,147
Change in unearned premium (7,388) (7,769) (59,211) (67,903)
Direct premium earned 234,500 214,803 682,571 616,244
Ceded premium earned (74,966) (68,650) (214,128) (262,843)
Premiums earned, net 159,534 146,153 468,443 353,401
Net investment income (expense) 2,304 1,307 6,051 3,376
Net realized gains (losses) on investments 101 11 1,344 292
Commission revenue 4,603 4,115 12,927 10,757
Policy fees 4,226 3,820 13,093 12,003
Other revenue 1,668 1,637 4,827 4,614
Total premiums earned and other revenues 172,436 157,043 506,685 384,443
OPERATING COSTS AND EXPENSES        
Losses and loss adjustment expenses 73,548 53,854 199,749 127,148
General and administrative expenses 54,725 55,289 166,780 130,152
Total operating costs and expenses 128,273 109,143 366,529 257,300
INCOME BEFORE INCOME TAXES 44,163 47,900 140,156 127,143
Income tax expense 17,281 17,602 54,400 49,811
NET INCOME $ 26,882 $ 30,298 $ 85,756 $ 77,332
Basic earnings per common share $ 0.77 $ 0.87 $ 2.46 $ 2.22
Weighted average common shares outstanding - Basic 35,042 34,911 34,878 34,837
Fully diluted earnings per common share $ 0.75 $ 0.84 $ 2.41 $ 2.15
Weighted average common shares outstanding - Diluted 35,723 35,999 35,594 35,918
Cash dividend declared per common share $ 0.14 $ 0.12 $ 0.42 $ 0.36