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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Fixed income securities, held-to-maturity - at carrying value $ 24,650 $ 31,157
Less: allowance for credit losses 0 0
Fixed income securities, held-to-maturity, net of allowance for credit losses 24,650 31,157
Fixed income securities, available-for-sale - at fair value 6,964,516 6,612,107
Commercial mortgage loans - at carrying value 157,283 149,305
Less: allowance for credit losses (99) (116)
Commercial mortgage loans, net of allowance for credit losses 157,184 149,189
Equity securities - at fair value 132,175 162,000
Short-term investments 302,750 440,456
Alternative investment 380,028 371,316
Other investments 68,141 71,244
Total investments (Note 4 and 5) 8,029,444 7,837,469
Cash 149 26
Restricted cash 35,516 25,183
Accrued investment income 57,340 59,167
Premiums receivable 1,171,265 1,101,787
Less: allowance for credit losses (Note 6) (17,100) (16,100)
Premiums receivable, net of allowance for credit losses 1,154,165 1,085,687
Reinsurance recoverable, gross 669,342 784,410
Less: allowance for credit losses (Note 7) (2,300) (1,600)
Reinsurance recoverable, net of allowance for credit losses 667,042 782,810
Prepaid reinsurance premiums 174,574 172,371
Current federal income tax 0 3,545
Deferred federal income tax 158,078 172,733
Property and equipment - at cost, net of accumulated depreciation and amortization 83,367 84,306
Deferred policy acquisition costs 387,944 368,624
Goodwill 7,849 7,849
Other assets 259,547 202,491
Total assets 11,015,015 10,802,261
Liabilities    
Reserve for loss and loss expense (Note 8) 5,099,450 5,144,821
Unearned premiums 2,092,416 1,992,781
Long-term debt 504,150 504,676
Current federal income tax 20,295 0
Accrued salaries and benefits 88,779 115,185
Other liabilities 540,521 517,234
Total liabilities 8,345,611 8,274,697
Stockholders' Equity:    
Preferred stock of $0 par value per share: Authorized shares 5,000,000; Issued shares: 8,000 with $25,000 liquidation preference per share - 2023 and 2022 200,000 200,000
Common stock of $2 par value per share: Authorized shares 360,000,000; Issued: 105,074,577 - 2023; 104,847,111 - 2022 210,149 209,694
Additional paid-in capital 502,713 493,488
Retained earnings 2,821,613 2,749,703
Accumulated other comprehensive income (loss) (Note 11) (430,349) (498,042)
Treasury Stock, at cost (shares: 44,581,991- 2023; 44,508,211 - 2022) (634,722) (627,279)
Total stockholders' equity 2,669,404 2,527,564
Commitments and contingencies
Total liabilities and stockholders' equity $ 11,015,015 $ 10,802,261
Preferred Stock [Member]    
Preferred stock, Par or Stated Value (in dollars per share) $ 0 $ 0