XML 18 R4.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
PREMIUMS EARNED AND OTHER REVENUES      
Direct premiums written $ 1,517,479 $ 1,292,721 $ 1,190,875
Change in unearned premium (121,856) (59,600) (69,235)
Direct premium earned 1,395,623 1,233,121 1,121,640
Ceded premium earned (472,060) (390,619) (353,258)
Premiums earned, net 923,563 842,502 768,382
Net investment income 20,393 30,743 24,816
Net realized gains (losses) on investments 63,352 (12,715) (2,089)
Net change in unrealized gains (losses) of equity securities 25 23,188 (17,169)
Commission revenue 33,163 26,101 22,438
Policy fees 23,773 21,560 20,275
Other revenue 8,501 7,972 7,163
Total premiums earned and other revenues 1,072,770 939,351 823,816
OPERATING COSTS AND EXPENSES      
Losses and loss adjustment expenses 758,810 603,406 414,455
General and administrative expenses 289,729 272,428 256,488
Total operating costs and expenses 1,048,539 875,834 670,943
INCOME BEFORE INCOME TAXES 24,231 63,517 152,873
Income tax expense 5,126 17,003 35,822
NET INCOME $ 19,105 $ 46,514 $ 117,051
Basic earnings per common share (in dollars per share) $ 0.60 $ 1.37 $ 3.36
Weighted average common shares outstanding - Basic (in shares) 31,884 33,893 34,856
Diluted earnings per common share (in dollars per share) $ 0.60 $ 1.36 $ 3.27
Weighted average common shares outstanding - Diluted (in shares) 31,972 34,233 35,786
Cash dividend declared per common share (in dollars per share) $ 0.77 $ 0.77 $ 0.73