Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2026 |
Sep. 30, 2025 |
Sep. 30, 2026 |
Sep. 30, 2025 |
|
| Revenues: | ||||
| Net premiums written | $ 302,874 | $ 241,828 | $ 1,004,828 | $ 721,587 |
| (Increase) decrease in unearned premiums | (12,202) | 4,504 | (177,299) | 19,402 |
| Net premiums earned | 290,672 | 246,332 | 827,529 | 740,989 |
| Net investment income | 62,952 | 59,795 | 183,819 | 177,294 |
| Realized investment gains (losses), net | (1,626) | (425) | (1,884) | (735) |
| Income from other invested assets | 10,724 | 1,770 | 40,288 | 13,644 |
| Other income | 11,461 | 4,358 | 23,189 | 17,339 |
| Total revenues | 374,183 | 311,830 | 1,072,941 | 948,531 |
| Losses and expenses: | ||||
| Provision for losses and LAE | 83,489 | 44,922 | 180,666 | 93,264 |
| Other underwriting and operating expenses | 83,490 | 59,498 | 231,731 | 193,387 |
| Interest expense | 8,162 | 8,251 | 24,458 | 24,547 |
| Total losses and expenses | 175,141 | 112,671 | 436,855 | 311,198 |
| Income before income taxes | 199,042 | 199,159 | 636,086 | 637,333 |
| Income tax expense | 35,666 | 34,944 | 111,197 | 102,346 |
| Net income | $ 163,376 | $ 164,215 | $ 524,889 | $ 534,987 |
| Earnings per share: | ||||
| Basic (in dollars per share) | $ 1.84 | $ 1.69 | $ 5.76 | $ 5.35 |
| Diluted (in dollars per share) | $ 1.82 | $ 1.67 | $ 5.71 | $ 5.29 |
| Weighted average shares outstanding: | ||||
| Basic (in shares) | 88,964 | 97,400 | 91,156 | 100,086 |
| Diluted (in shares) | 89,774 | 98,519 | 91,894 | 101,155 |
| Other comprehensive income (loss): | ||||
| Unrealized (depreciation) appreciation of investments, net of tax (benefit) expense of ($31,344) and $9,000 in the three months ended September 30, 2026 and 2025, and ($38,522) and $22,365 in the nine months ended September 30, 2026 and 2025, respectively. | $ (168,983) | $ 50,241 | $ (207,660) | $ 138,559 |
| Total other comprehensive income (loss) | (168,983) | 50,241 | (207,660) | 138,559 |
| Comprehensive income (loss) | $ (5,607) | $ 214,456 | $ 317,229 | $ 673,546 |
| X | ||||||||||
- Definition Represents the aggregate amount of costs incurred during the period, such as those relating to general administration and policy maintenance that do not vary with, and are not primarily related to the acquisition or renewal of insurance contracts and other operating costs, that are associated with the entity's normal revenue producing operation. No definition available.
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- Definition The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of decrease (increase) in unearned premiums. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after effects of reinsurance, of expense (reversal of expense) for claims incurred and costs incurred in the claim settlement process. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after tax and reclassification adjustment, of gain (loss) in value of unsold investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), attributable to parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of realized gain (loss) on investment. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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