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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
ASSETS    
Fixed maturity securities (amortized cost $3,011,979; $2,969,541) $ 3,077,373 $ 2,985,161
Equity securities (cost $577,263; $544,082) 616,500 529,631
Short-term investments (cost $367,837; $254,518) 367,351 253,299
Total investments 4,061,224 3,768,091
Cash 270,105 314,291
Receivables:    
Premium 579,963 555,038
Accrued investment income 43,936 45,373
Other 6,330 6,132
Total receivables 630,229 606,543
Reinsurance recoverables 114,500 221,088
Deferred policy acquisition costs 219,723 215,131
Fixed assets (net of accumulated depreciation $364,015; $359,269) 155,844 153,023
Operating lease right-of-use assets 41,275 0
Current income taxes 27,051 38,885
Deferred income taxes 0 13,339
Goodwill 42,796 42,796
Other intangible assets, net 14,437 15,534
Other assets 29,536 45,008
Total assets 5,606,720 5,433,729
Liabilities    
Loss and loss adjustment expense reserves 1,787,612 1,829,412
Unearned premiums 1,273,661 1,236,181
Notes payable 371,834 371,734
Accounts payable and accrued expenses 137,258 115,071
Operating lease liabilities 43,439 0
Deferred income taxes 6,166 0
Other liabilities 267,456 263,647
Total liabilities 3,887,426 3,816,045
Commitments and contingencies
Shareholders’ equity:    
Common stock without par value or stated value: Authorized 70,000 shares; issued and outstanding 55,350; 55,340 98,495 98,026
Retained earnings 1,620,799 1,519,658
Total shareholders’ equity 1,719,294 1,617,684
Total liabilities and shareholders’ equity $ 5,606,720 $ 5,433,729