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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Investments    
Total investments available for sale $ 5,022,094 $ 4,741,625
Other invested assets 266,559 257,941
Total investments 5,288,653 4,999,566
Cash 68,101 81,240
Accrued investment income 36,099 33,162
Accounts receivable 62,692 57,399
Deferred policy acquisition costs 9,460 9,910
Property and equipment (at cost, less accumulated depreciation of $68,791 in 2023 and $67,352 in 2022) 31,324 19,571
Prepaid federal income tax 446,460 418,460
Other assets 40,526 104,489
Total assets 5,983,315 5,723,797
Liabilities    
Reserve for losses and LAE 216,943 216,464
Unearned premium reserve 153,921 162,887
Net deferred tax liability 328,340 356,810
Credit facility borrowings (at carrying value, less unamortized deferred costs of $3,608 in 2023 and $4,136 in 2022) 421,392 420,864
Other accrued liabilities 129,367 104,463
Total liabilities 1,249,963 1,261,488
Commitments and contingencies (see Note 7)
Stockholders’ Equity    
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - XX shares in 2023 and 107,683 shares in 2022 1,605 1,615
Additional paid-in capital 1,309,834 1,350,377
Accumulated other comprehensive loss (360,135) (382,790)
Retained earnings 3,782,048 3,493,107
Total stockholders’ equity 4,733,352 4,462,309
Total liabilities and stockholders’ equity 5,983,315 5,723,797
Fixed maturities    
Investments    
Total investments available for sale 4,438,554 4,489,598
Short-term investments    
Investments    
Total investments available for sale $ 583,540 $ 252,027