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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Investments    
Fixed maturities, available-for-sale, at fair value (amortized cost, $3,850,889 and $2,361,575, respectively; allowance for expected credit losses, none as of September 30, 2021 and $552 as of December 31, 2020) $ 3,904,136 $ 2,457,531
Fixed maturities, trading, at fair value (cost, $45,307 and $47,907, respectively) 45,049 48,456
Equity investments, at fair value (cost, $210,320 and $113,709, respectively) 214,530 120,101
Short-term investments 151,708 337,813
Business owned life insurance 80,821 67,847
Investment in unconsolidated subsidiaries 317,869 310,529
Other investments (at fair value, $106,842 and $44,116, respectively, otherwise at cost or amortized cost) 110,012 47,068
Total Investments 4,824,125 3,389,345
Cash and cash equivalents 202,953 215,782
Premiums receivable, net 288,819 201,395
Receivable from reinsurers on paid losses and loss adjustment expenses 17,872 14,370
Receivable from reinsurers on unpaid losses and loss adjustment expenses 476,315 385,087
Prepaid reinsurance premiums 32,275 35,885
Deferred policy acquisition costs 57,929 47,196
Deferred tax asset, net 117,940 57,105
Real estate, net 30,547 30,529
Operating lease ROU assets 20,253 19,013
Intangible assets, net 74,955 65,720
Goodwill 49,610 49,610
Other assets 133,675 143,766
Total Assets 6,327,268 4,654,803
Policy liabilities and accruals    
Reserve for losses and loss adjustment expenses 3,632,686 2,417,179
Unearned premiums 509,317 361,547
Reinsurance premiums payable 36,459 39,998
Total Policy Liabilities 4,178,462 2,818,725
Operating lease liabilities 21,670 20,116
Other liabilities 279,276 182,039
Debt less unamortized debt issuance costs 424,758 284,713
Total Liabilities 4,904,166 3,305,593
Shareholders' Equity    
Common shares (par value $0.01 per share, 100,000,000 shares authorized, 63,308,434 and 63,217,708 shares issued, respectively) 633 632
Additional paid-in capital 391,875 388,150
Accumulated other comprehensive income (loss) (net of deferred tax expense (benefit) of $11,100 and $19,386, respectively) 41,507 75,227
Retained earnings 1,405,049 1,301,163
Treasury shares, at cost (9,325,180 shares as of each respective period end) (415,962) (415,962)
Total Shareholders' Equity 1,423,102 1,349,210
Total Liabilities and Shareholders' Equity $ 6,327,268 $ 4,654,803