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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Investments    
Total investments available for sale $ 4,950,036 $ 4,741,625
Other invested assets 255,288 257,941
Total investments 5,205,324 4,999,566
Cash 68,633 81,240
Accrued investment income 36,896 33,162
Accounts receivable 61,282 57,399
Deferred policy acquisition costs 9,511 9,910
Property and equipment (at cost, less accumulated depreciation of $68,050 in 2023 and $67,352 in 2022) 18,514 19,571
Prepaid federal income tax 418,460 418,460
Other assets 108,886 104,489
Total assets 5,927,506 5,723,797
Liabilities    
Reserve for losses and LAE 216,022 216,464
Unearned premium reserve 157,529 162,887
Net deferred tax liability 383,116 356,810
Credit facility borrowings (at carrying value, less unamortized deferred costs of $3,872 in 2023 and $4,136 in 2022) 421,128 420,864
Other accrued liabilities 100,770 104,463
Total liabilities 1,278,565 1,261,488
Commitments and contingencies (see Note 7)
Stockholders’ Equity    
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 107,659 shares in 2023 and 107,683 shares in 2022 1,615 1,615
Additional paid-in capital 1,334,607 1,350,377
Accumulated other comprehensive loss (324,037) (382,790)
Retained earnings 3,636,756 3,493,107
Total stockholders’ equity 4,648,941 4,462,309
Total liabilities and stockholders’ equity 5,927,506 5,723,797
Fixed maturities available for sale, at fair value (amortized cost: 2023 — $4,977,284; 2022 — $4,932,574)    
Investments    
Total investments available for sale 4,602,284 4,489,598
Short-term investments available for sale, at fair value (amortized cost: 2023 — $347,800; 2022 — $252,282)    
Investments    
Total investments available for sale $ 347,752 $ 252,027