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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
ASSETS    
Available-for-sale debt securities $ 656,762 $ 639,334
Available-for-sale short-term investments   10,000
Equity securities 70,866 62,215
Investment real estate, net 19,539 18,474
Total invested assets 747,167 730,023
Cash and cash equivalents 311,088 213,486
Restricted cash and cash equivalents 2,635 2,635
Prepaid reinsurance premiums 310,618 132,806
Reinsurance recoverable 117,851 182,405
Reinsurance receivable, net 1,402  
Premium receivable, net 67,186 56,500
Property and equipment, net 34,792 32,866
Deferred policy acquisition costs 88,756 73,059
Income taxes recoverable 11,839 9,472
Deferred income tax asset, net 177 9,286
Other assets 17,766 12,461
Total assets 1,711,277 1,454,999
LIABILITIES:    
Unpaid losses and loss adjustment expenses 151,916 248,425
Unearned premiums 608,921 532,444
Advance premium 38,230 26,216
Accounts payable 2,778 2,866
Book overdraft 2,982 36,715
Reinsurance payable, net 341,912 110,381
Dividends payable 5,638  
Other liabilities and accrued expenses 54,695 45,096
Long-term debt 12,132 12,868
Total liabilities 1,219,204 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 - 46,257 and 45,778 Outstanding shares - 34,872 and 34,735 463 458
Treasury shares, at cost - 11,385 and 11,043 (116,239) (105,123)
Additional paid-in capital 85,925 86,186
Accumulated other comprehensive income (loss), net of taxes (9,161) (6,281)
Retained earnings 531,085 464,748
Total stockholders' equity 492,073 439,988
Total liabilities and stockholders' equity $ 1,711,277 $ 1,454,999