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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
ASSETS    
Available-for-sale debt securities, at fair value, net of allowance for credit loss of $220 and $186 (amortized cost: $931,174 and $815,647) $ 913,131 $ 819,861
Equity securities, at fair value (cost: $91,571 and $84,667) 91,291 84,887
Assets held for sale 6,855 0
Investment real estate, net 6,027 15,176
Total invested assets 1,017,304 919,924
Cash and cash equivalents 90,829 167,156
Restricted cash and cash equivalents [1] 12,715 12,715
Prepaid reinsurance premiums 100,221 215,723
Reinsurance recoverable 217,625 160,417
Premiums receivable, net 62,488 66,883
Property and equipment, net 53,178 53,572
Deferred policy acquisition costs 111,193 110,614
Income taxes recoverable 14,741 30,576
Deferred income tax asset, net 17,488 6,284
Other assets 19,671 14,877
Total assets 1,717,453 1,758,741
LIABILITIES:    
Unpaid losses and loss adjustment expenses 315,780 322,465
Unearned premiums 772,843 783,135
Advance premium 73,738 49,562
Book overdraft 0 59,399
Reinsurance payable, net 24,527 10,312
Commission payable 26,693 23,809
Other liabilities and accrued expenses 41,119 52,341
Long-term debt 8,088 8,456
Total liabilities 1,262,788 1,309,479
Commitments and Contingencies (Note 12)
STOCKHOLDERS’ EQUITY:    
Cumulative convertible preferred stock, $0.01 par value 0 0
Common stock, $0.01 par value 469 468
Treasury shares, at cost - 15,695 and 15,680 (225,751) (225,506)
Additional paid-in capital 104,624 103,445
Accumulated other comprehensive income (loss), net of taxes (13,567) 3,343
Retained earnings 588,890 567,512
Total stockholders’ equity 454,665 449,262
Total liabilities and stockholders’ equity $ 1,717,453 $ 1,758,741
[1] See “—Note 5 (Insurance Operations)” for a discussion of the nature of the restrictions for restricted cash and cash equivalents and “—Note 14 (Variable Interest Entities)” for a discussion of restricted cash held in a trust account.