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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Fixed maturity securities (amortized cost $4,748,424; $4,394,983) $ 4,661,761 $ 4,319,336
Equity securities (cost $724,364; $654,939) 815,924 730,693
Short-term investments (cost $148,787; $179,375) 147,865 178,491
Total investments 5,625,550 5,228,520
Cash 609,333 550,903
Receivables:    
Premiums 711,491 607,025
Allowance for credit losses on premiums receivable (6,000) (5,300)
Premiums receivable, net of allowance for credit losses 705,491 601,725
Accrued investment income 64,414 59,128
Other 33,662 25,603
Total receivables 803,567 686,456
Reinsurance recoverables (net of allowance for credit losses $4; $12) 29,759 31,947
Deferred policy acquisition costs 326,859 293,844
Fixed assets (net of accumulated depreciation $303,325; $302,557) 133,972 151,183
Operating lease right-of-use assets 14,220 14,406
Current income taxes 0 4,081
Deferred income taxes 34,753 33,013
Goodwill 42,796 42,796
Other intangible assets, net 8,129 8,333
Other assets 98,142 57,915
Total assets 7,727,080 7,103,397
Liabilities    
Loss and loss adjustment expense reserves 2,976,403 2,785,702
Unearned premiums 1,974,134 1,735,660
Notes payable 573,928 573,729
Accounts payable and accrued expenses 203,612 175,219
Operating lease liabilities 14,211 14,231
Current income taxes 1,469 0
Other liabilities 334,308 270,711
Total liabilities 6,078,065 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 1,550,068 1,449,198
Total shareholders’ equity 1,649,015 1,548,145
Total liabilities and shareholders’ equity $ 7,727,080 $ 7,103,397