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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Available-for-sale debt securities $ 634,238 $ 639,334
Available-for-sale short-term investments 10,000 10,000
Equity securities 66,043 62,215
Investment real estate, net 19,406 18,474
Total invested assets 729,687 730,023
Cash and cash equivalents 244,673 213,486
Restricted cash and cash equivalents 2,635 2,635
Prepaid reinsurance premiums 53,123 132,806
Reinsurance recoverable 72,641 182,405
Reinsurance receivable, net 492  
Premium receivable, net 57,455 56,500
Property and equipment, net 33,169 32,866
Deferred policy acquisition costs 78,007 73,059
Income taxes recoverable   9,472
Deferred income tax asset, net 11,436 9,286
Other assets 12,389 12,461
Total assets 1,295,707 1,454,999
LIABILITIES:    
Unpaid losses and loss adjustment expenses 129,637 248,425
Unearned premiums 540,167 532,444
Advance premium 39,323 26,216
Accounts payable 3,486 2,866
Book overdraft 171 36,715
Reinsurance payable, net 54,218 110,381
Income taxes payable 4,436  
Other liabilities and accrued expenses 46,675 45,096
Long-term debt 12,500 12,868
Total liabilities 830,613 1,015,011
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 - 46,148 and 45,778 Outstanding shares - 35,012 and 34,735 461 458
Treasury shares, at cost - 11,136 and 11,043 (107,869) (105,123)
Additional paid-in capital 84,294 86,186
Accumulated other comprehensive income (loss), net of taxes (7,312) (6,281)
Retained earnings 495,520 464,748
Total stockholders' equity 465,094 439,988
Total liabilities and stockholders' equity $ 1,295,707 $ 1,454,999