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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Investments    
Fixed maturities, available-for-sale, at fair value (amortized cost, $2,287,956 and $2,241,304, respectively; allowance for expected credit losses, $1,163 as of current period end) $ 2,281,664 $ 2,288,785
Fixed maturities, trading, at fair value (cost, $47,282 and $46,772, respectively) 47,680 47,284
Equity investments, at fair value (cost, $108,548 and $227,873, respectively) 92,750 250,552
Short-term investments 347,340 339,907
Business owned life insurance 66,569 66,112
Investment in unconsolidated subsidiaries 371,372 358,820
Other investments (at fair value, $30,871 and $36,018, respectively, otherwise at cost or amortized cost) 33,778 38,949
Total Investments 3,241,153 3,390,409
Cash and cash equivalents 217,169 175,369
Premiums receivable, net 266,822 249,540
Receivable from reinsurers on paid losses and loss adjustment expenses 16,375 12,739
Receivable from reinsurers on unpaid losses and loss adjustment expenses 389,792 390,708
Prepaid reinsurance premiums 44,120 42,796
Deferred policy acquisition costs 56,166 55,567
Deferred tax asset, net 66,710 44,387
Real estate, net 31,122 30,410
Operating lease ROU assets 19,722 21,074
Intangible assets, net 70,167 70,757
Goodwill 210,725 210,725
Other assets 100,807 111,118
Total Assets 4,730,850 4,805,599
Policy liabilities and accruals    
Reserve for losses and loss adjustment expenses 2,331,048 2,346,526
Unearned premiums 443,288 413,086
Reinsurance premiums payable 52,367 52,946
Total Policy Liabilities 2,826,703 2,812,558
Operating lease liabilities 21,311 22,051
Other liabilities 169,783 173,256
Debt less unamortized debt issuance costs 285,544 285,821
Total Liabilities 3,303,341 3,293,686
Shareholders' Equity    
Common shares (par value $0.01 per share, 100,000,000 shares authorized, 63,165,667 and 63,117,235 shares issued, respectively) 632 631
Additional paid-in capital 384,732 384,551
Accumulated other comprehensive income (loss) (net of deferred tax expense (benefit) of ($1,162) and $9,795, respectively) (4,910) 36,955
Retained earnings 1,463,017 1,505,738
Treasury shares, at cost (9,325,180 shares as of each respective period end) (415,962) (415,962)
Total Shareholders' Equity 1,427,509 1,511,913
Total Liabilities and Shareholders' Equity $ 4,730,850 $ 4,805,599