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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
ASSETS    
Cash and cash equivalents $ 197,014 $ 115,397
Restricted cash and cash equivalents 2,635 2,635
Fixed maturities, at fair value 416,083 353,949
Equity securities, at fair value 42,214 19,642
Short-term investments, at fair value 25,021 49,990
Investment real estate, net 6,117  
Prepaid reinsurance premiums 114,673 190,505
Reinsurance recoverable 22,853 55,187
Reinsurance receivable, net 353 7,468
Premiums receivable, net 50,980 50,987
Other receivables 4,626 2,763
Property and equipment, net 27,065 17,254
Deferred policy acquisition costs, net 60,019 25,660
Income taxes recoverable 5,420 5,675
Deferred income tax asset, net 13,912 11,850
Other assets 4,563 2,812
Total assets 993,548 911,774
LIABILITIES:    
Unpaid losses and loss adjustment expenses 98,840 134,353
Unearned premiums 442,366 395,748
Advance premium 24,813 17,919
Accounts payable 378 4,121
Book overdraft   5,924
Reinsurance payable, net 73,585 66,066
Income taxes payable   1,799
Other liabilities and accrued expenses 36,424 36,318
Long-term debt 24,050 30,610
Total liabilities $ 700,456 $ 692,858
Commitments and Contingencies (Note 15)
Contingently redeemable common stock - Issued shares - 0 and 1,000, Outstanding shares - 0 and 1,000   $ 19,000
STOCKHOLDERS' EQUITY:    
Cumulative convertible preferred stock, $.01 par value Authorized shares - 1,000 Issued shares - 10 and 12 Outstanding shares - 10 and 12 Minimum liquidation preference - 9.99 and $8.49 per share
Common stock, $.01 par value Authorized shares - 55,000 Issued shares - 45,525 and 43,769 Outstanding shares - 35,110 and 34,102 $ 455 $ 448
Treasury shares, at cost - 10,415 and 9,667 (80,802) (62,153)
Additional paid-in capital 70,789 40,987
Accumulated other comprehensive income (loss), net of taxes (4,006) (1,835)
Retained earnings 306,656 222,469
Total stockholders' equity [1] 293,092 199,916
Total liabilities, contingently redeemable common stock and stockholders' equity $ 993,548 $ 911,774
[1] See “—Note 8 (Stockholders’ Equity)” for an explanation of events subsequent to December 31, 2014 giving rise to pro-forma stockholders’ equity of $218.9 million as of December 31, 2014.