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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
ASSETS    
Fixed maturities, at fair value $ 639,334 $ 584,361
Equity securities, at fair value 62,215 50,803
Short-term investments, at fair value 10,000 5,002
Investment real estate, net 18,474 11,435
Total invested assets 730,023 651,601
Cash and cash equivalents 213,486 105,730
Restricted cash and cash equivalents 2,635 2,635
Prepaid reinsurance premiums 132,806 124,385
Reinsurance recoverable 182,405 106
Premiums receivable, net 56,500 53,833
Property and equipment, net 32,866 32,162
Deferred policy acquisition costs, net 73,059 64,912
Income taxes recoverable 9,472 3,262
Deferred income tax asset, net 9,286 10,674
Other assets 12,461 10,707
Total assets 1,454,999 1,060,007
LIABILITIES:    
Unpaid losses and loss adjustment expenses 248,425 58,494
Unearned premiums 532,444 475,756
Advance premium 26,216 17,796
Accounts payable 2,866 3,187
Book overdraft 36,715  
Reinsurance payable, net 110,381 80,891
Other liabilities and accrued expenses 45,096 37,665
Long-term debt 12,868 15,028
Total liabilities 1,015,011 688,817
Commitments and Contingencies (Note 15)
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 – 45,778 and 45,324 Outstanding shares – 34,735 and 35,052 458 453
Treasury shares, at cost - 11,043 and 10,272 (105,123) (86,982)
Additional paid-in capital 86,186 82,263
Accumulated other comprehensive income (loss), net of taxes (6,281) (6,408)
Retained earnings 464,748 381,864
Total stockholders' equity 439,988 371,190
Total liabilities and stockholders' equity $ 1,454,999 $ 1,060,007