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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Investments    
Total investments available for sale $ 5,369,074 $ 5,263,739
Other invested assets 279,625 277,226
Total investments 5,648,699 5,540,965
Cash 164,255 141,787
Accrued investment income 35,817 35,689
Accounts receivable 68,932 63,266
Deferred policy acquisition costs 8,980 9,139
Property and equipment (at cost, less accumulated depreciation of $72,080 in 2024 and $71,168 in 2023) 43,751 41,304
Prepaid federal income tax 467,183 470,646
Goodwill and intangible assets, net 72,271 72,826
Other assets 55,095 51,051
Total assets 6,564,983 6,426,673
Liabilities    
Reserve for losses and LAE 267,324 260,095
Unearned premium reserve 133,235 140,285
Net deferred tax liability 368,955 362,753
Credit facility borrowings (at carrying value, less unamortized deferred costs of $2,816 in 2024 and $3,080 in 2023) 422,184 421,920
Other accrued liabilities 147,131 139,070
Total liabilities 1,338,829 1,324,123
Commitments and contingencies (see Note 7)
Stockholders’ Equity    
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 106,742 shares in 2024 and 106,597 shares in 2023 1,601 1,599
Additional paid-in capital 1,293,424 1,299,869
Accumulated other comprehensive loss (302,262) (280,496)
Retained earnings 4,233,391 4,081,578
Total stockholders’ equity 5,226,154 5,102,550
Total liabilities and stockholders’ equity 6,564,983 6,426,673
Fixed maturities    
Investments    
Total investments available for sale 4,172,237 4,335,008
Short-term investments    
Investments    
Total investments available for sale $ 1,196,837 $ 928,731