XML 11 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Fixed maturities:    
Available for sale, at fair value (amortized cost: $ and $1,322,092; net of allowance for expected credit losses of $0 at March 31, 2024 and December 31, 2023) $ 1,226,309 $ 1,293,793
Equity securities, at fair value 17,045 16,508
Other invested assets 34,021 38,236
Total investments 1,277,375 1,348,537
Cash and cash equivalents 38,857 38,037
Premium receivables, net of allowance for expected credit losses of $ at March 31, 2024 and $4,796 at December 31, 2023 92,440 102,158
Reinsurance receivables, net of allowance for expected credit losses of $8,992 at March 31, 2024 and December 31, 2023 77,664 80,439
Funds held by ceding insurers 17,395 16,989
Deferred federal income taxes 33,224 36,802
Deferred acquisition costs 40,231 42,445
Intangible assets 14,368 14,456
Goodwill 4,820 4,820
Prepaid reinsurance premiums 3,229 4,958
Receivable for securities matured 101,091 3,858
Lease right of use assets 9,288 9,715
Other assets 18,260 26,362
Total assets 1,728,242 1,729,576
Liabilities:    
Unpaid losses and loss adjustment expenses 853,602 850,599
Unearned premiums 176,630 182,852
Ceded balances payable 1,651 2,642
Federal income tax payable 1,600 1,595
Contingent commissions 2,598 5,632
Lease liabilities 11,910 12,733
Other liabilities 20,756 24,770
Total liabilities 1,068,747 1,080,823
Commitments and contingencies (Note 10)
Shareholders’ equity:    
Common shares: no par value; 900,000,000 common shares authorized; class A common shares issued: 11,082,004 and 11,042,670 respectively; class A common shares outstanding: 9,810,763 and 9,771,429, respectively; class B common shares issued and outstanding: 3,793,612 and 3,793,612, respectively 0 0
Additional paid-in capital 456,179 454,791
Accumulated other comprehensive income (loss), net of tax (19,995) (22,863)
Retained earnings 251,474 244,988
Total shareholders’ equity 659,495 648,753
Total liabilities and shareholders’ equity 1,728,242 1,729,576
Series A Cumulative Fixed Rate Preferred Shares    
Shareholders’ equity:    
Series A cumulative fixed rate preferred shares, $1,000 par value; 100,000,000 shares authorized, shares issued and outstanding: 4,000 and 4,000 shares, respectively, liquidation preference: $1,000 per share and $1,000 per share, respectively 4,000 4,000
Class A Common Shares    
Shareholders’ equity:    
Class A common shares in treasury, at cost: 1,271,241 and 1,271,241 shares, respectively $ (32,163) $ (32,163)