XML 12 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Investments:    
Fixed maturity securities—held-to-maturity, at amortized cost net of allowance for credit losses of $357 and $0 in 2020 and 2019, respectively, (fair value $609,281 and $621,343 in 2020 and 2019, respectively) $ 576,191 $ 599,421
Fixed maturity securities—available-for-sale, at fair value (amortized cost $392,117, allowance for credit losses of $0 in 2020 and amortized cost $425,698, allowance for credit losses of $0 in 2019) 416,240 441,146
Equity securities, at fair value (cost $33,227 and $24,457 in 2020 and 2019, respectively) 33,480 27,903
Short-term investments 72,849 56,548
Total investments 1,098,760 1,125,018
Cash and cash equivalents 110,281 43,813
Amounts recoverable from reinsurers (net of allowance for credit losses of $388 and $0 in 2020 and 2019, respectively) 103,524 95,913
Premiums receivable (net of allowance for credit losses of $5,277 and $5,112 in 2020 and 2019, respectively) 175,241 157,953
Deferred income taxes 16,704 17,513
Accrued interest receivable 9,297 9,730
Property and equipment, net 6,385 6,331
Deferred policy acquisition costs 19,765 19,048
Other assets 10,016 17,587
Total assets 1,549,973 1,492,906
Liabilities:    
Reserves for loss and loss adjustment expenses 768,767 772,887
Unearned premiums 147,824 140,873
Amounts held for others 41,501 37,937
Policyholder deposits 43,285 44,718
Insurance-related assessments 25,955 22,967
Federal income tax payable 12,098 3,220
Accounts payable and other liabilities 40,712 40,089
Payable for investments purchased 7,035  
Total liabilities 1,087,177 1,062,691
Shareholders’ equity:    
Common stock: voting—$0.01 par value authorized shares—50,000,000 in 2020 and 2019; 20,589,309 and 20,560,833 shares issued and 19,331,059 and 19,302,583 shares outstanding in 2020 and 2019, respectively 206 205
Additional paid-in capital 214,894 213,004
Treasury stock, at cost (1,258,250 shares in 2020 and 2019) (22,370) (22,370)
Accumulated earnings 250,888 227,165
Accumulated other comprehensive income, net 19,178 12,211
Total shareholders’ equity 462,796 430,215
Total liabilities and shareholders’ equity $ 1,549,973 $ 1,492,906