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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Investments    
Fixed maturities, available-for-sale, at fair value (amortized cost, $3,830,737 and $3,814,847, respectively; allowance for expected credit losses, $553 as of June 30, 2022 and none as of December 31, 2021) $ 3,531,815 $ 3,833,722
Fixed maturities, trading, at fair value (cost, $46,349 and $43,914, respectively) 45,274 43,670
Equity investments, at fair value (cost, $161,562 and $211,356, respectively) 147,612 214,807
Short-term investments 326,050 216,987
Business owned life insurance 80,818 81,767
Investment in unconsolidated subsidiaries 321,912 335,576
Other investments (at fair value, $92,204 and $98,611, respectively, otherwise at cost or amortized cost) 95,496 101,794
Total Investments 4,548,977 4,828,323
Cash and cash equivalents 34,832 143,602
Premiums receivable (allowance for expected credit losses, $7,906 as of June 30, 2022 and $7,436 as of December 31, 2021) 245,050 241,095
Receivable from reinsurers on paid losses and loss adjustment expenses 14,902 14,599
Receivable from reinsurers on unpaid losses and loss adjustment expenses 469,116 451,741
Prepaid reinsurance premiums 32,730 24,571
Deferred policy acquisition costs 63,113 58,940
Deferred tax asset, net 188,824 117,613
Real estate, net 30,413 30,342
Operating lease ROU assets 17,702 19,595
Intangible assets, net 70,098 73,336
Goodwill 49,610 49,610
Other assets 125,823 138,110
Total Assets 5,891,190 6,191,477
Policy liabilities and accruals    
Reserve for losses and loss adjustment expenses 3,572,862 3,579,940
Unearned premiums 450,571 433,961
Reinsurance premiums payable 32,565 22,627
Total Policy Liabilities and Accruals 4,055,998 4,036,528
Operating lease liabilities 18,793 20,844
Other liabilities 220,632 280,732
Debt less unamortized debt issuance costs 425,878 424,986
Total Liabilities 4,721,301 4,763,090
Shareholders' Equity    
Common shares (par value $0.01 per share, 100,000,000 shares authorized, 63,422,426 and 63,308,741 shares issued, respectively) 634 633
Additional paid-in capital 395,540 392,941
Accumulated other comprehensive income (loss) (net of deferred tax expense (benefit) of ($63,367) and $4,423, respectively) (234,188) 16,284
Retained earnings 1,423,865 1,434,491
Treasury shares, at cost (9,325,180 shares as of each respective period end) (415,962) (415,962)
Total Shareholders' Equity 1,169,889 1,428,387
Total Liabilities and Shareholders' Equity $ 5,891,190 $ 6,191,477