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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Fixed maturity securities (amortized cost $4,306,573; $4,226,790) $ 4,114,657 $ 4,088,311
Equity securities (cost $679,105; $668,843) 670,993 699,552
Short-term investments (cost $212,715; $123,928) 211,778 122,937
Total investments 4,997,428 4,910,800
Cash 453,936 289,776
Receivables:    
Premiums 624,953 571,910
Allowance for credit losses on premiums receivable (5,200) (5,800)
Premiums receivable, net of allowance for credit losses 619,753 566,110
Accrued investment income 58,273 52,474
Other 18,262 11,358
Total receivables 696,288 629,942
Reinsurance recoverables (net of allowance for credit losses $6; $0) 26,446 25,895
Deferred policy acquisition costs 296,572 266,475
Fixed assets (net of accumulated depreciation $314,718; $332,938) 148,668 171,442
Operating lease right-of-use assets 17,843 20,183
Current income taxes 75,279 55,136
Deferred income taxes 66,156 42,903
Goodwill 42,796 42,796
Other intangible assets, net 8,553 9,212
Other assets 92,273 49,628
Total assets 6,922,238 6,514,188
Liabilities    
Loss and loss adjustment expense reserves 2,723,776 2,584,910
Unearned premiums 1,748,554 1,545,639
Notes payable 573,629 398,330
Accounts payable and accrued expenses 166,750 151,686
Operating lease liabilities 19,047 21,924
Other liabilities 316,150 289,568
Total liabilities 5,547,906 4,992,057
Commitments and contingencies
Shareholders’ equity:    
Common stock without par value or stated value: Authorized 70,000 shares; issued and outstanding 55,371; 55,371 98,947 98,947
Retained earnings 1,275,385 1,423,184
Total shareholders’ equity 1,374,332 1,522,131
Total liabilities and shareholders’ equity $ 6,922,238 $ 6,514,188