XML 64 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Gross premiums written $ 67,098 $ 68,785 $ 227,200 $ 227,969
Net premiums written 63,262 64,030 212,495 213,854
Net premiums earned 68,028 64,469 201,589 179,136
Net investment income 6,527 8,486 22,488 28,285
Net realized investment gains:        
Other than temporary impairment losses on investments (6) (177) (68) (1,230)
Other net realized investment gains 1,164 1,818 40,294 11,434
Total net realized investment gains 1,158 1,641 40,226 10,204
Other income 126 183 449 484
Total revenues 75,839 74,779 264,752 218,109
Losses and Expenses:        
Net losses and loss adjustment expenses 36,654 35,483 113,496 102,195
Acquisition costs and other underwriting expenses 27,458 28,028 81,114 76,977
Corporate and other operating expenses 3,481 2,627 9,614 7,444
Interest expense 118 3,585 628 5,939
Income before income taxes 8,128 5,056 59,900 25,554
Income tax expense (benefit) (1,633) (1,892) 8,108 (2,423)
Net income $ 9,761 $ 6,948 $ 51,792 $ 27,977
Net income        
Basic $ 0.39 $ 0.28 $ 2.06 $ 1.12
Diluted $ 0.39 $ 0.28 $ 2.05 $ 1.11
Weighted-average number of shares outstanding        
Basic 25,137,531 25,082,237 25,126,684 25,065,725
Diluted 25,334,716 25,189,072 25,323,187 25,150,920