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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Investments    
Total investments available for sale $ 4,662,905 $ 4,962,887
Other invested assets 212,521 170,472
Total investments 4,875,426 5,133,359
Cash 203,845 81,491
Accrued investment income 23,233 26,546
Accounts receivable 45,167 46,157
Deferred policy acquisition costs 11,148 12,178
Property and equipment (at cost, less accumulated depreciation of $65,095 in 2022 and $64,340 in 2021) 20,308 11,921
Prepaid federal income tax 360,810 360,810
Other assets 46,208 49,712
Total assets 5,586,145 5,722,174
Liabilities    
Reserve for losses and LAE 293,072 407,445
Unearned premium reserve 169,786 185,385
Net deferred tax liability 359,919 373,654
Credit facility borrowings (at carrying value, less unamortized deferred costs of $4,927 in 2022 and $5,177 in 2021) 420,073 419,823
Other accrued liabilities 128,227 99,753
Total liabilities 1,371,077 1,486,060
Commitments and contingencies (see Note 7)
Stockholders’ Equity    
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 108,140 shares in 2022 and 109,377 shares in 2021 1,622 1,641
Additional paid-in capital 1,358,583 1,428,952
Accumulated other comprehensive (loss) income (152,299) 50,707
Retained earnings 3,007,162 2,754,814
Total stockholders’ equity 4,215,068 4,236,114
Total liabilities and stockholders’ equity 5,586,145 5,722,174
Fixed maturities    
Investments    
Total investments available for sale 4,145,542 4,649,800
Short-term investments    
Investments    
Total investments available for sale $ 517,363 $ 313,087