• Filing Date: 2017-02-22
  • Form Type: 10-K
  • Description: Annual report
v3.6.0.2
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenue      
Gross premiums earned $ 378,678 $ 423,120 $ 365,488
Premiums ceded (135,051) (140,614) (113,423)
Net premiums earned 243,627 282,506 252,065
Net investment income 9,087 3,978 4,888
Net realized investment gains (losses) 2,601 (608) 4,735
Net other-than-temporary impairment losses recognized in income:      
Total other-than-temporary impairment losses (2,252) (5,275) (107)
Portion of loss recognized in other comprehensive income, before taxes (230) 594  
Net other-than-temporary impairment losses (2,482) (4,681) (107)
Policy fee income 3,914 3,496 2,820
Gain on repurchases of convertible senior notes 153    
Gain on bargain purchase 2,071    
Gain on remeasurement of previously held interest 4,005    
Other 1,470 1,261 1,707
Total revenue 264,446 285,952 266,108
Expenses      
Losses and loss adjustment expenses 124,667 87,224 79,468
Policy acquisition and other underwriting expenses 42,642 41,984 37,952
Salaries and wages 19,037 20,140 16,483
Interest expense 11,079 10,754 10,453
Impairment loss 388    
Other operating expenses 19,777 19,658 20,790
Total expenses 217,590 179,760 165,146
Income before income taxes 46,856 106,192 100,962
Income tax expense 17,835 40,331 38,298
Net income 29,021 65,861 62,664
Preferred stock dividends     4
Income available to common stockholders $ 29,021 $ 65,861 $ 62,668
Basic earnings per common share $ 2.95 $ 6.51 $ 5.90
Diluted earnings per common share 2.92 5.90 5.36
Dividends per common share $ 1.20 $ 1.20 $ 1.10