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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
PREMIUMS EARNED AND OTHER REVENUES        
Direct premiums written $ 409,418 $ 342,872 $ 1,148,656 $ 990,066
Change in unearned premium (52,210) (29,807) (127,858) (78,516)
Direct premium earned 357,208 313,065 1,020,798 911,550
Ceded premium earned (123,017) (106,466) (339,408) (284,867)
Premiums earned, net 234,191 206,599 681,390 626,683
Net investment income 4,557 7,613 17,570 23,165
Net realized gains (losses) on investments 53,827 (22) 54,294 (13,152)
Net change in unrealized gains (losses) of equity securities 1,991 573 (2,162) 22,364
Commission revenue 8,997 7,380 23,770 18,933
Policy fees 6,167 5,569 18,253 16,587
Other revenue 1,935 1,929 6,529 5,369
Total premiums earned and other revenues 311,665 229,641 799,644 699,949
OPERATING COSTS AND EXPENSES        
Losses and loss adjustment expenses 238,477 132,571 524,870 358,961
General and administrative expenses 76,980 69,174 223,544 208,418
Total operating costs and expenses 315,457 201,745 748,414 567,379
INCOME (LOSS) BEFORE INCOME TAXES (3,792) 27,896 51,230 132,570
Income tax expense (benefit) (623) 7,750 14,450 34,983
NET INCOME (LOSS) $ (3,169) $ 20,146 $ 36,780 $ 97,587
Basic earnings (loss) per common share (in dollars per share) $ (0.10) $ 0.60 $ 1.14 $ 2.85
Weighted average common shares outstanding - Basic (in shares) 31,659 33,649 32,116 34,230
Diluted earnings (loss) per common share (in dollars per share) $ (0.10) $ 0.59 $ 1.14 $ 2.82
Weighted average common shares outstanding - Diluted (in shares) 31,659 33,930 32,202 34,565
Cash dividend declared per common share (in dollars per share) $ 0.16 $ 0.16 $ 0.48 $ 0.48