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v3.2.0.727

Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014
Revenues: |  |  |  |
Gross premiums written | $ 166,515 | $ 82,905 | $ 309,384 | $ 160,102
Net premiums written | 146,005 | 76,372 | 272,109 | 149,233
Net premiums earned | 128,877 | 66,017 | 256,214 | 133,561
Net investment income | 9,141 | 7,677 | 17,382 | 15,961
Net realized investment gains: |  |  |  |
Other than temporary impairment losses on investments | (1,898) | (37) | (2,238) | (62)
Other net realized investment gains | 8,430 | 39,918 | 5,800 | 39,130
Total net realized investment gains (losses) | 6,532 | 39,881 | 3,562 | 39,068
Other income | 577 | 155 | 1,129 | 323
Total revenues | 145,127 | 113,730 | 278,287 | 188,913
Losses and Expenses: |  |  |  |
Net losses and loss adjustment expenses | 79,560 | 38,270 | 149,179 | 76,842
Acquisition costs and other underwriting expenses | 50,926 | 27,171 | 99,184 | 53,656
Corporate and other operating expenses | 4,334 | 3,172 | 15,874 | 6,133
Interest expense | 535 | 319 | 1,040 | 510
Income before income taxes | 9,772 | 44,798 | 13,010 | 51,772
Income tax expense (benefit) | (1,345) | 11,590 | (4,901) | 9,741
Net income | $ 11,117 | $ 33,208 | $ 17,911 | $ 42,031
Net income |  |  |  |
Basic | $ 0.44 | $ 1.32 | $ 0.70 | $ 1.67
Diluted | $ 0.43 | $ 1.31 | $ 0.70 | $ 1.66
Weighted-average number of shares outstanding |  |  |  |
Basic | 25,454,579 | 25,128,280 | 25,447,398 | 25,121,171
Diluted | 25,680,997 | 25,312,938 | 25,659,869 | 25,301,783

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