v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Premiums written:        
Direct $ 279,441 $ 277,206 $ 565,963 $ 553,677
Assumed 2,483 3,717 6,448 7,255
Ceded (51,962) (43,539) (107,506) (88,202)
Net premiums written 229,962 237,384 464,905 472,730
Decrease in unearned premiums, net 8,095 6,938 8,515 15,311
Net premiums earned 238,057 244,322 473,420 488,041
Investment income, net of expenses 59,465 60,995 121,207 122,438
Net gains (losses) on investments and other financial instruments (2,226) (1,426) (2,395) (685)
Other revenue 92 354 233 685
Total Revenues 295,388 304,245 592,465 610,479
Losses and Expenses:        
Losses incurred, net 10,986 (2,835) 44,228 6,756
Amortization of deferred insurance policy acquisition costs 1,297 1,738 2,521 3,395
Other underwriting and operating expenses, net 44,278 50,354 91,162 101,760
Interest expense 8,899 8,899 17,798 17,798
Total Losses and Expenses 65,460 58,156 155,709 129,709
Income before tax 229,928 246,089 436,756 480,770
Provision for income tax 47,783 53,607 89,308 102,828
Net Income $ 182,145 $ 192,482 $ 347,448 $ 377,942
Earnings per share:        
Basic (in dollars per share) $ 0.87 $ 0.81 $ 1.63 $ 1.57
Diluted (in dollars per share) $ 0.86 $ 0.81 $ 1.62 $ 1.56
Weighted average common shares outstanding - basic (in shares) 209,923 236,333 213,012 240,218
Weighted average common shares outstanding - diluted (in shares) 210,945 237,971 214,548 242,209