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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
ASSETS    
Fixed income securities, held-to-maturity – at carrying value (fair value: $21,975 – 2019; $38,317 – 2018) $ 20,800 $ 37,110
Fixed income securities, available-for-sale – at fair value (amortized cost: $5,879,986 – 2019; $5,270,798 – 2018) 6,095,620 5,273,100
Equity securities - at fair value (cost: $72,061 - 2019; $138,114 - 2018) 72,937 147,639
Short-term investments (at cost which approximates fair value) 282,490 323,864
Other investments 216,807 178,938
Total investments (Notes 5 and 7) 6,688,654 5,960,651
Cash 300 505
Restricted cash 7,675 16,414
Interest and dividends due or accrued 44,846 41,620
Premiums receivable, net of allowance for uncollectible accounts of: $6,400 – 2019; $9,400 – 2018 823,901 770,518
Reinsurance recoverable, net of allowance for uncollectible accounts of: $4,400 – 2019; $4,500 – 2018 (Note 8) 573,235 549,172
Prepaid reinsurance premiums (Note 8) 166,705 157,723
Deferred federal income tax (Note 13) 6,776 53,540
Property and equipment – at cost, net of accumulated depreciation and amortization of: $227,566 – 2019; $211,657 – 2018 77,409 65,248
Deferred policy acquisition costs (Note 2) 271,186 252,612
Goodwill (Note 11) 7,849 7,849
Other assets 128,614 76,877
Total assets 8,797,150 7,952,729
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Reserve for loss and loss expense (Note 9) 4,067,163 3,893,868
Unearned premiums 1,523,167 1,431,932
Long-term debt (Note 10) 550,597 439,540
Current federal income tax 2,987 1,302
Accrued salaries and benefits 126,753 116,706
Other liabilities 331,547 277,579
Total liabilities 6,602,214 6,160,927
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: 103,484,159 - 2019; 102,848,394 - 2018 206,968 205,697
Additional paid-in capital 418,521 390,315
Retained earnings 2,080,529 1,858,414
Accumulated other comprehensive income (loss) (Note 6) 81,750 (77,956)
Treasury stock – at cost (shares: 44,023,006 – 2019; 43,899,840 – 2018) (592,832) (584,668)
Total stockholders’ equity 2,194,936 1,791,802
Commitments and contingencies (Notes 17 and 18)
Total liabilities and stockholders’ equity $ 8,797,150 $ 7,952,729