XML 15 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Fixed maturity securities (amortized cost $4,574,492; $4,394,983) $ 4,489,552 $ 4,319,336
Equity securities (cost $690,856; $654,939) 801,108 730,693
Short-term investments (cost $163,454; $179,375) 162,466 178,491
Total investments 5,453,126 5,228,520
Cash 530,085 550,903
Receivables:    
Premiums 682,473 607,025
Allowance for credit losses on premiums receivable (5,800) (5,300)
Premiums receivable, net of allowance for credit losses 676,673 601,725
Accrued investment income 61,198 59,128
Other 30,040 25,603
Total receivables 767,911 686,456
Reinsurance recoverables (net of allowance for credit losses $0; $12) 29,964 31,947
Deferred policy acquisition costs 307,938 293,844
Fixed assets (net of accumulated depreciation $330,764; $322,729) 152,462 151,183
Operating lease right-of-use assets 14,371 14,406
Current income taxes 0 4,081
Deferred income taxes 31,367 33,013
Goodwill 42,796 42,796
Other intangible assets, net 8,353 8,333
Other assets 57,595 57,915
Total assets 7,395,968 7,103,397
Liabilities    
Loss and loss adjustment expense reserves 2,859,220 2,785,702
Unearned premiums 1,854,184 1,735,660
Notes payable 573,829 573,729
Accounts payable and accrued expenses 178,086 175,219
Operating lease liabilities 14,425 14,231
Current income taxes 6,628 0
Other liabilities 305,569 270,711
Total liabilities 5,791,941 5,555,252
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 1,505,080 1,449,198
Total shareholders’ equity 1,604,027 1,548,145
Total liabilities and shareholders’ equity $ 7,395,968 $ 7,103,397