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Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
ASSETS:    
Cash and cash equivalents $ 356,739 $ 147,585
Investment securities, at fair value 95,945 224,532
Prepaid reinsurance premiums 253,582 221,086
Reinsurance recoverables 77,203 79,552
Premiums receivable, net 52,020 43,622
Receivable from securities 20,505 17,556
Other receivables 3,562 2,864
Property and equipment, net 6,087 5,407
Deferred policy acquisition costs, net 12,026 9,446
Deferred income taxes 17,057 13,448
Other assets 2,011 1,132
Total assets 896,737 766,230
LIABILITIES:    
Unpaid losses and loss adjustment expenses 155,375 158,929
Unearned premiums 380,268 328,334
Advance premium 25,830 19,840
Accounts payable 5,692 3,767
Bank overdraft 22,597 23,030
Payable for securities 336 0
Reinsurance payable, net 92,504 37,946
Income taxes payable 13,480 8,282
Other accrued expenses 20,022 23,150
Long-term debt 22,427 23,162
Total liabilities 738,531 626,440
Commitments and Contingencies (Note 12)    
STOCKHOLDERS' EQUITY:    
Cumulative convertible preferred stock, $.01 par value Authorized shares - 1,000; Issued shares - 108; Outstanding shares - 108; Minimum liquidation preference, $2.66 per share 1 1
Common stock, $.01 par value Authorized shares - 55,000; Issued shares - 41,007 and 40,407; Outstanding shares - 39,989 and 39,388 410 404
Treasury shares, at cost - 1,018 and 1,019 (3,102) (3,109)
Additional paid-in capital 34,580 33,675
Retained earnings 126,317 108,819
Total stockholders' equity 158,206 139,790
Total liabilities and stockholders' equity $ 896,737 $ 766,230