v3.26.1
Condensed Consolidated Statements of Income - Unaudited - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Direct premiums $ 871,246 $ 858,845
Ceded premiums (414,859) (410,521)
Net premiums 456,387 448,324
Commissions and fees 356,741 296,957
Investment income net of investment expenses 56,506 56,340
Interest expense on surplus note (13,223) (14,669)
Net investment income 43,283 41,671
Realized investment gains (losses) (847) (82)
Other investment gains (losses) 1,243 839
Investment gains (losses) 396 757
Other, net 15,886 17,134
Total revenues 872,693 804,843
Benefits and expenses:    
Benefits and claims 171,254 174,862
Future policy benefits remeasurement (gain) loss (7,377) (3,273)
Amortization of deferred policy acquisition costs 84,260 78,550
Sales commissions 195,210 158,118
Insurance expenses 66,567 64,805
Insurance commissions 5,618 6,124
Interest expense 5,861 6,004
Other operating expenses 101,882 98,338
Total benefits and expenses 623,275 583,528
Income before income taxes 249,418 221,315
Income taxes 59,322 52,264
Net income $ 190,096 $ 169,051
Earnings per share:    
Basic earnings per share $ 5.98 $ 5.06
Diluted earnings per share $ 5.97 $ 5.05
Weighted-average shares used in computing earnings per share:    
Basic 31,681 33,292
Diluted 31,728 33,342