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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Investments (Notes 6 and 7)    
Fixed-maturities Available for sale-at fair value (amortized cost of $5,360,398 and $5,498,422) $ 5,074,425 $ 5,062,405
Trading securities-at fair value (amortized cost of $78,021 and $89,479) 74,595 82,652
Equity securities-at fair value (cost of $82,667 and $144,579) 75,540 138,189
Other long-term invested assets-at fair value 8,830 7,942
Short-term investments at fair value (includes $118,649 and $125,723 of reinvested cash collateral held under securities lending agreements) 618,644 410,643
Total investments 5,852,034 5,701,831
Cash 15,258 19,220
Restricted cash 11 30
Accrued investment income 43,031 44,308
Accounts and notes receivable 128,765 120,990
Reinsurance recoverables (includes $1,430 and $444 for paid losses) 44,837 34,559
Deferred policy acquisition costs 16,711 17,746
Property and equipment, net 18,663 23,369
Prepaid federal income taxes (Note 10) 1,012,629 921,080
Other assets (Note 9) 350,350 358,962
Assets held for sale (Note 3) 722,514 1,447,440
Total assets 8,204,803 8,689,535
Liabilities    
Reserve for losses and LAE (Note 11) 387,650 354,431
Unearned premiums 166,165 188,337
Senior notes (Note 12) 1,067,251 1,065,337
Other borrowings (Note 12) 60,401 45,865
Net deferred tax liability 910,256 772,232
Other liabilities (Note 9) 410,232 399,282
Liabilities held for sale (Note 3) 550,399 1,240,193
Total liabilities 3,552,354 4,065,677
Commitments and contingencies (Note 13)
Stockholders’ equity    
Common stock ($0.001 par value; 485,000 shares authorized; 2025: 156,876 and 135,473 shares issued and outstanding, respectively; 2024: 168,350 and 147,569 shares issued and outstanding, respectively) 157 168
Treasury stock, at cost (2025: 21,403 shares; 2024: 20,782 shares) (989,352) (968,246)
Additional paid-in capital 855,320 1,246,826
Retained earnings 5,012,742 4,695,348
Accumulated other comprehensive income (loss) (Note 15) (226,418) (350,238)
Total stockholders’ equity 4,652,449 4,623,858
Total liabilities and stockholders’ equity $ 8,204,803 $ 8,689,535