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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Investments    
Total investments available for sale $ 4,997,688 $ 4,741,625
Other invested assets 272,619 257,941
Total investments 5,270,307 4,999,566
Cash 96,779 81,240
Accrued investment income 36,651 33,162
Accounts receivable 68,332 57,399
Deferred policy acquisition costs 9,375 9,910
Property and equipment (at cost, less accumulated depreciation of $70,011 in 2023 and $67,352 in 2022) 40,710 19,571
Prepaid federal income tax 461,386 418,460
Goodwill and intangible assets, net 64,271 0
Other assets 46,389 104,489
Total assets 6,094,200 5,723,797
Liabilities    
Reserve for losses and LAE 241,333 216,464
Unearned premium reserve 147,712 162,887
Net deferred tax liability 329,721 356,810
Credit facility borrowings (at carrying value, less unamortized deferred costs of $3,344 in 2023 and $4,136 in 2022) 421,656 420,864
Other accrued liabilities 145,771 104,463
Total liabilities 1,286,193 1,261,488
Commitments and contingencies (see Note 7)
Stockholders’ Equity    
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 106,887 shares in 2023 and 107,683 shares in 2022 1,603 1,615
Additional paid-in capital 1,309,717 1,350,377
Accumulated other comprehensive loss (436,383) (382,790)
Retained earnings 3,933,070 3,493,107
Total stockholders’ equity 4,808,007 4,462,309
Total liabilities and stockholders’ equity 6,094,200 5,723,797
Fixed maturities    
Investments    
Total investments available for sale 4,241,757 4,489,598
Short-term investments    
Investments    
Total investments available for sale $ 755,931 $ 252,027