v3.26.1
Condensed Consolidated Statements of Income - Unaudited - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Direct premiums $ 877,754 $ 866,254 $ 1,748,999 $ 1,725,099
Ceded premiums (442,280) (433,408) (857,139) (843,930)
Net premiums 435,474 432,846 891,860 881,169
Commissions and fees 368,610 306,032 725,352 602,988
Investment income net of investment expenses 56,600 55,549 113,106 111,888
Interest expense on surplus note (12,862) (14,621) (26,085) (29,289)
Net investment income 43,738 40,928 87,021 82,599
Realized investment gains (losses) 78 (2,338) (769) (2,421)
Other investment gains (losses) 1,613 (528) 2,856 312
Investment gains (losses) 1,691 (2,866) 2,087 (2,109)
Other, net 15,554 16,394 31,439 33,530
Total revenues 865,067 793,334 1,737,759 1,598,177
Benefits and expenses:        
Benefits and claims 147,328 152,494 318,582 327,355
Future policy benefits remeasurement (gain) loss (5,038) (5,895) (12,415) (9,168)
Amortization of deferred policy acquisition costs 85,128 80,043 169,388 158,592
Sales commissions 201,924 166,291 397,134 324,409
Insurance expenses 71,159 64,362 137,726 129,168
Insurance commissions 5,778 5,751 11,396 11,875
Interest expense 5,833 6,000 11,693 12,005
Other operating expenses 94,736 89,791 196,618 188,129
Total benefits and expenses 606,848 558,837 1,230,122 1,142,365
Income before income taxes 258,219 234,497 507,637 455,812
Income taxes 55,941 56,153 115,263 108,417
Net income $ 202,278 $ 178,344 $ 392,374 $ 347,395
Earnings per share:        
Basic earnings per share $ 6.46 $ 5.41 $ 12.44 $ 10.47
Diluted earnings per share $ 6.45 $ 5.40 $ 12.42 $ 10.45
Weighted-average shares used in computing earnings per share:        
Basic 31,196 32,870 31,437 33,080
Diluted 31,237 32,911 31,481 33,126