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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Investments    
Fixed maturities, available for sale, at fair value; amortized cost, $2,722,063 and $3,055,477, respectively $ 2,760,287 $ 3,145,027
Equity securities, trading, at fair value; cost, $319,320 and $283,107, respectively 322,353 314,482
Short-term investments 119,236 131,259
Business owned life insurance 57,213 56,381
Investment in unconsolidated subsidiaries 311,908 276,501
Other investments, $30,611 and $28,958 at fair value, respectively, otherwise at cost or amortized cost 79,133 86,057
Total Investments 3,650,130 4,009,707
Cash and cash equivalents 241,100 197,040
Premiums receivable 217,034 202,528
Receivable from reinsurers on paid losses and loss adjustment expenses 9,249 6,494
Receivable from reinsurers on unpaid losses and loss adjustment expenses 249,350 237,966
Prepaid reinsurance premiums 34,050 32,115
Deferred policy acquisition costs 44,388 38,790
Deferred tax asset, net 15,097 0
Real estate, net 38,470 39,799
Intangible assets 92,462 100,733
Goodwill 210,725 210,725
Other assets 106,108 93,263
Total Assets 4,908,163 5,169,160
Policy liabilities and accruals    
Reserve for losses and loss adjustment expenses 2,005,326 2,058,266
Unearned premiums 362,066 345,828
Reinsurance premiums payable 30,114 17,451
Total Policy Liabilities 2,397,506 2,421,545
Deferred tax liability, net 0 18,818
Other liabilities 202,303 320,853
Debt 350,000 250,000
Total Liabilities 2,949,809 3,011,216
Shareholders’ Equity:    
Common shares, par value $0.01 per share, 100,000,000 shares authorized, 62,503,255 and 62,297,214 shares issued, respectively 625 623
Additional paid-in capital 365,399 359,577
Accumulated other comprehensive income (loss), net of deferred tax expense (benefit) of $12,972 and $31,342, respectively 23,855 58,204
Retained earnings 1,988,035 1,991,704
Treasury shares, at cost, 9,402,697 shares and 5,763,388 shares, respectively (419,560) (252,164)
Total Shareholders’ Equity 1,958,354 2,157,944
Total Liabilities and Shareholders’ Equity $ 4,908,163 $ 5,169,160