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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Available-for-sale debt securities, at fair value, net of allowance for credit loss of $455 (amortized cost: $819,166 and $828,336) $ 869,418 $ 855,284
Equity securities, at fair value (cost: $53,667 and $43,523) 49,708 43,717
Investment real estate, net 15,377 15,585
Total invested assets 934,503 914,586
Cash and cash equivalents 331,716 182,109
Restricted cash and cash equivalents [1] 2,945 2,635
Prepaid reinsurance premiums 453,018 175,208
Reinsurance recoverable 46,860 193,236
Premiums receivable, net 76,885 63,883
Property and equipment, net 49,159 41,351
Deferred policy acquisition costs 103,527 91,882
Income taxes recoverable 29,009 34,283
Deferred income tax asset, net 0 3,351
Other assets 19,277 17,328
Total assets 2,046,899 1,719,852
LIABILITIES:    
Unpaid losses and loss adjustment expenses 147,659 267,760
Unearned premiums 736,927 661,279
Advance premium 55,640 30,975
Accounts payable 3,176 2,099
Book overdraft 0 90,401
Reinsurance payable, net 499,656 122,581
Deferred income tax liability, net 13,665 0
Other liabilities and accrued expenses 53,284 40,930
Long-term debt 9,191 9,926
Total liabilities 1,519,198 1,225,951
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 0 0
Common stock, $.01 par value Authorized shares - 55,000 Issued shares - 46,806 and 46,707 Outstanding shares - 31,853 and 32,638 468 467
Treasury shares, at cost - 14,953 and 14,069 (213,201) (196,585)
Additional paid-in capital 99,768 96,036
Accumulated other comprehensive income, net of taxes 38,083 20,364
Retained earnings 602,583 573,619
Total stockholders’ equity 527,701 493,901
Total liabilities and stockholders’ equity $ 2,046,899 $ 1,719,852
[1] See “—Note 5 (Insurance Operations)” for a discussion of the nature of the restrictions for restricted cash and cash equivalents.