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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Fixed maturities    
Available-for-sale, at fair value (amortized cost $1,681,752 in 2022 and $1,656,797 in 2021) $ 1,547,061 $ 1,719,790
Equity securities at fair value (cost $75,292 in 2022 and $84,605 in 2021) 149,505 213,401
Mortgage loans 46,757 47,201
Less: allowance for mortgage loan losses 65 71
Mortgage loans, net 46,692 47,130
Other long-term investments 79,917 84,090
Short-term investments 275 275
Total investments 1,823,450 2,064,686
Cash and cash equivalents 53,017 132,104
Accrued investment income 15,169 13,396
Premiums receivable (net of allowance for doubtful accounts of $1,082 in 2022 and $781 in 2021) 374,341 316,771
Deferred policy acquisition costs 106,376 91,446
Property and equipment (primarily land and buildings, at cost, less accumulated depreciation of $61,790 in 2022 and $60,142 in 2021) 133,064 137,702
Reinsurance receivables and recoverables (net of allowance for credit losses of $76 in 2022 and $102 in 2021) 155,960 127,815
Prepaid reinsurance premiums 12,142 9,328
Intangible assets 5,502 6,034
Deferred tax asset 25,983 0
Income taxes receivable 39,593 32,378
Other assets 74,303 81,061
TOTAL ASSETS 2,818,900 3,012,721
Liabilities    
Losses and loss settlement expenses 1,464,508 1,514,265
Unearned premiums 488,293 439,733
Accrued expenses and other liabilities 115,304 102,849
Long term debt 50,000 50,000
Deferred tax liability 0 26,753
TOTAL LIABILITIES 2,118,105 2,133,600
Stockholders’ Equity    
Common stock, $0.001 par value; authorized 75,000,000 shares; 25,191,414 and 25,082,104 shares issued and outstanding in 2022 and 2021, respectively 25 25
Additional paid-in capital 206,811 203,375
Retained earnings 604,469 621,384
Accumulated other comprehensive income, net of tax (110,510) 54,337
TOTAL STOCKHOLDERS’ EQUITY 700,795 879,121
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 2,818,900 $ 3,012,721