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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
ASSETS    
Fixed income securities, held-to-maturity – at carrying value (fair value: $38,317 – 2018; $44,100 – 2017) $ 37,110 $ 42,129
Fixed income securities, available-for-sale – at fair value (amortized cost: $5,270,798 – 2018; $5,076,716 – 2017) 5,273,100 5,162,522
Equity securities, available for sale – at fair value (cost: $143,811 – 2017)   182,705
Equity securities - at fair value (cost: $138,114 - 2018) 147,639  
Short-term investments (at cost which approximates fair value) 323,864 165,555
Other investments 178,938 132,268
Total investments (Notes 5 and 7) 5,960,651 5,685,179
Cash 505 534
Restricted cash 16,414 44,176
Interest and dividends due or accrued 41,620 40,897
Premiums receivable, net of allowance for uncollectible accounts of: $9,400 – 2018; $10,000 – 2017 770,518 747,029
Reinsurance recoverable, net of allowance for uncollectible accounts of: $4,500 – 2018; $4,600 – 2017 (Note 8) 549,172 594,832
Prepaid reinsurance premiums (Note 8) 157,723 153,493
Current federal income tax (Note 13) 0 3,243
Deferred federal income tax (Note 13) 53,540 31,990
Property and equipment – at cost, net of accumulated depreciation and amortization of: $211,657 – 2018; $213,227 – 2017 65,248 63,959
Deferred policy acquisition costs (Note 2) 252,612 235,055
Goodwill (Note 11) 7,849 7,849
Other assets 76,877 78,195
Total assets 7,952,729 7,686,431
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Reserve for loss and loss expense (Note 9) 3,893,868 3,771,240
Unearned premiums 1,431,932 1,349,644
Long-term debt (Note 10) 439,540 439,116
Current federal income tax (Note 13) 1,302 0
Accrued salaries and benefits 116,706 131,850
Other liabilities 277,579 281,624
Total liabilities 6,160,927 5,973,474
Stockholders’ Equity:    
Preferred stock of $0 par value per share: Authorized shares: 5,000,000; no shares issued or outstanding 0 0
Common stock of $2 par value per share Authorized shares: 360,000,000 Issued: 102,848,394 - 2018; 102,284,564 - 2017 205,697 204,569
Additional paid-in capital 390,315 367,717
Retained earnings 1,858,414 1,698,613
Accumulated other comprehensive (loss) income (Note 6) (77,956) 20,170
Treasury stock – at cost (shares: 43,899,840 – 2018; 43,789,442 – 2017) (584,668) (578,112)
Total stockholders’ equity 1,791,802 1,712,957
Commitments and contingencies (Notes 17 and 18)
Total liabilities and stockholders’ equity $ 7,952,729 $ 7,686,431