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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
ASSETS    
Fixed maturity securities (amortized cost $2,925,678; $2,823,230) $ 2,949,236 $ 2,892,777
Equity securities (cost $554,647; $474,197) 614,336 537,240
Short-term investments (cost $270,914; $302,693) 270,584 302,711
Total investments 3,834,156 3,732,728
Cash 243,751 291,413
Receivables:    
Premium 527,280 474,060
Accrued investment income 45,657 39,368
Other 6,152 6,658
Total receivables 579,089 520,086
Reinsurance recoverables 47,837 56,349
Deferred policy acquisition costs 209,275 198,151
Fixed assets (net of accumulated depreciation $350,007; $340,523) 148,214 145,223
Current income taxes 51,855 61,257
Goodwill 42,796 42,796
Other intangible assets, net 18,256 20,728
Other assets 29,242 32,592
Total assets 5,204,471 5,101,323
Liabilities    
Loss and loss adjustment expense reserves 1,549,850 1,510,613
Unearned premiums 1,190,766 1,101,927
Notes payable 371,535 371,335
Accounts payable and accrued expenses 133,293 108,252
Deferred income taxes 8,807 22,932
Other liabilities 240,362 224,877
Total liabilities 3,494,613 3,339,936
Commitments and contingencies
Shareholders’ equity:    
Common stock without par value or stated value: Authorized 70,000 shares; issued and outstanding 55,332; 55,332 97,586 97,523
Retained earnings 1,612,272 1,663,864
Total shareholders’ equity 1,709,858 1,761,387
Total liabilities and shareholders’ equity $ 5,204,471 $ 5,101,323