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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Fixed maturity securities (amortized cost $4,882,324; $4,394,983) $ 4,858,840 $ 4,319,336
Equity securities (cost $755,443; $654,939) 870,837 730,693
Short-term investments (cost $289,616; $179,375) 288,704 178,491
Total investments 6,018,381 5,228,520
Cash 616,275 550,903
Receivables:    
Premiums 731,379 607,025
Allowance for credit losses on premiums receivable (6,100) (5,300)
Premiums receivable, net of allowance for credit losses 725,279 601,725
Accrued investment income 65,118 59,128
Other 57,862 25,603
Total receivables 848,259 686,456
Reinsurance recoverables (net of allowance for credit losses $4; $12) 28,019 31,947
Deferred policy acquisition costs 341,406 293,844
Fixed assets (net of accumulated depreciation $311,220; $302,557) 135,919 151,183
Operating lease right-of-use assets 13,947 14,406
Current income taxes 0 4,081
Deferred income taxes 20,905 33,013
Goodwill 42,796 42,796
Other intangible assets, net 7,906 8,333
Other assets 79,135 57,915
Total assets 8,152,948 7,103,397
Liabilities    
Loss and loss adjustment expense reserves 3,073,690 2,785,702
Unearned premiums 2,076,910 1,735,660
Notes payable 574,028 573,729
Accounts payable and accrued expenses 231,519 175,219
Operating lease liabilities 14,055 14,231
Current income taxes 24,394 0
Other liabilities 296,062 270,711
Total liabilities 6,290,658 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 1,763,343 1,449,198
Total shareholders’ equity 1,862,290 1,548,145
Total liabilities and shareholders’ equity $ 8,152,948 $ 7,103,397