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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Investments    
Total investments available for sale $ 5,882,359 $ 5,876,721
Other invested assets 321,858 303,900
Total investments 6,204,217 6,180,621
Cash 208,066 131,480
Accrued investment income 42,296 43,732
Accounts receivable 53,127 55,564
Deferred policy acquisition costs 9,663 9,653
Property and equipment (at cost, less accumulated depreciation of $73,293 in 2025 and $72,270 in 2024) 43,214 41,871
Prepaid federal income tax 487,356 489,600
Goodwill and acquired intangible assets, net 79,206 79,556
Other assets 77,566 79,572
Total assets 7,204,711 7,111,649
Liabilities    
Reserve for losses and LAE 356,653 328,866
Unearned premium reserve 108,406 115,983
Net deferred tax liability 414,772 392,428
Senior Notes due 2029, net 494,294 493,959
Other liabilities 171,280 176,755
Total liabilities 1,545,405 1,507,991
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 1,537 1,575
Additional paid-in capital 1,055,340 1,214,956
Accumulated other comprehensive loss (232,246) (303,984)
Retained earnings 4,834,675 4,691,111
Total stockholders’ equity 5,659,306 5,603,658
Total liabilities and stockholders’ equity 7,204,711 7,111,649
Fixed maturities    
Investments    
Total investments available for sale 5,345,409 5,112,697
Short-term investments    
Investments    
Total investments available for sale $ 536,950 $ 764,024