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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
ASSETS    
Fixed maturities, at fair value $ 609,179 $ 584,361
Equity securities, at fair value 26,075 50,803
Short-term investments, at fair value   5,002
Investment real estate, net 16,324 11,435
Total invested assets 651,578 651,601
Cash and cash equivalents 366,176 105,730
Restricted cash and cash equivalents 2,635 2,635
Prepaid reinsurance premiums 212,489 124,385
Reinsurance recoverable 412,697 106
Premiums receivable, net 66,687 53,833
Property and equipment, net 32,959 32,162
Deferred policy acquisition costs 75,934 64,912
Income taxes recoverable 19,174 3,262
Deferred income tax asset, net 5,300 10,674
Other assets 11,432 10,707
Total assets 1,857,061 1,060,007
LIABILITIES:    
Unpaid losses and loss adjustment expenses 440,443 58,494
Unearned premiums 556,299 475,756
Advance premium 28,667 17,796
Accounts payable 3,999 3,187
Reinsurance payable, net 341,356 80,891
Dividends payable 4,846  
Other liabilities and accrued expenses 47,659 37,665
Long-term debt 13,235 15,028
Total liabilities 1,436,504 688,817
Commitments and Contingencies (Note 12)
STOCKHOLDERS' EQUITY:    
Cumulative convertible preferred stock, $.01 par value Authorized shares - 1,000 Issued shares - 10 and 10 Outstanding shares - 10 and 10 Minimum liquidation preference, $9.99 and $9.99 per share
Common stock, $.01 par value; Authorized shares - 55,000; Issued shares - 45,473 and 45,324; and Outstanding shares - 34,440 and 35,052 455 453
Treasury shares, at cost - 11,033 and 10,272 (104,866) (86,982)
Additional paid-in capital 89,429 82,263
Accumulated other comprehensive income (loss), net of taxes (2,207) (6,408)
Retained earnings 437,746 381,864
Total stockholders' equity 420,557 371,190
Total liabilities and stockholders' equity $ 1,857,061 $ 1,060,007