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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost $1,895,582 in 2024 and $1,771,041 in 2023) $ 1,796,133 $ 1,686,502
Equity securities at fair value (cost $0 in 2024 and $29,238 in 2023) 0 55,019
Mortgage loans 41,283 45,421
Less: allowance for mortgage loan losses 45 55
Mortgage loans, net 41,238 45,366
Other long-term investments 98,405 99,507
Short-term investments 100 100
Total investments 1,935,876 1,886,494
Cash and cash equivalents 153,430 102,046
Accrued investment income 16,543 15,934
Premiums receivable (net of allowance for doubtful accounts of $1,752 in 2024 and $1,794 in 2023) 584,521 464,791
Deferred policy acquisition costs 144,044 126,532
Property and equipment at cost (less accumulated depreciation of $72,697 in 2024 and $68,242 in 2023) 134,622 134,247
Reinsurance receivables (net of allowance for credit losses of $102 in 2024 and $97 in 2023) 243,988 223,269
Prepaid reinsurance premiums 32,899 27,682
Intangible assets 4,261 4,615
Deferred tax asset 26,585 13,621
Income taxes receivable 19,600 21,463
Other assets 112,328 123,496
TOTAL ASSETS 3,408,697 3,144,190
Liabilities    
Losses and loss settlement expenses 1,755,739 1,638,755
Unearned premiums 633,648 549,384
Accrued expenses and other liabilities 175,750 172,306
Long term debt 116,965 50,000
TOTAL LIABILITIES 2,682,102 2,410,445
Stockholders' Equity    
Common stock, $0.001 par value; authorized 75,000,000 shares; 25,336,103 and 25,269,842 shares issued and outstanding in 2024 and 2023, respectively 25 25
Additional paid-in capital 212,327 209,986
Retained earnings 577,359 574,691
Accumulated other comprehensive income (loss), net of tax (63,116) (50,957)
TOTAL STOCKHOLDERS' EQUITY 726,595 733,745
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 3,408,697 $ 3,144,190