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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Investments:    
Fixed maturities, available for sale, at fair value (amortized cost: $1,231,378 and $1,181,038, allowance for expected credit losses of $1,453 and $1,198) $ 1,188,337 $ 1,115,218
Short-term investments, at fair value (cost: $0 and $19,970)   19,975
Equity securities, at fair value (cost: $208,264 and $201,258) 235,352 221,422
Other invested assets 156,419 156,444
Total investments 1,580,108 1,513,059
Cash and cash equivalents 49,409 58,974
Accounts receivable, net of allowance for expected credit losses of $827 and $918 333,014 306,465
Receivable for securities sold 315 568
Accrued investment income 8,682 7,426
Taxes recoverable 1,701  
Receivable from reinsurers related to paid loss and loss adjustment expenses 32,234 26,386
Receivable from reinsurers related to unpaid loss and loss adjustment expenses 135,626 130,792
Ceded unearned premiums 41,508 41,413
Deferred policy acquisition costs 111,481 105,474
Deferred income taxes 6,452 11,200
Equity and deposits in pools 4,875 3,740
Operating lease right-of-use-assets 13,657 15,733
Goodwill 17,093 17,093
Intangible assets 7,256 7,730
Other assets 20,797 24,037
Total assets 2,364,208 2,270,090
Liabilities    
Losses and loss adjustment expense reserves 685,941 671,669
Unearned premium reserves 659,464 619,916
Accounts payable and accrued liabilities 69,568 77,276
Payable for securities purchased 17,103 6,949
Payable to reinsurers 15,211 19,074
Taxes payable   1,009
Short-term debt   30,000
Long-term debt 30,000  
Operating lease liabilities 13,657 15,733
Total liabilities 1,490,944 1,441,626
Commitments and contingencies (Note 8)
Shareholders' equity    
Common stock: $0.01 par value; 30,000,000 shares authorized; 18,051,129 and 17,995,584 shares issued 181 180
Additional paid-in capital 233,391 230,864
Accumulated other comprehensive loss, net of taxes (32,854) (51,047)
Retained earnings 822,839 798,760
Treasury stock, at cost: 3,157,577 shares (150,293) (150,293)
Total shareholders' equity 873,264 828,464
Total liabilities and shareholders' equity $ 2,364,208 $ 2,270,090