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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Assets    
Fixed-maturity securities, available for sale, at fair value (amortized cost: $403,844 and $41,953, respectively and allowance for credit losses: $0 and $0, respectively) $ 398,571 $ 42,583
Equity securities, at fair value (cost: $38,065 and $46,276, respectively) 35,719 51,740
Limited partnership investments 26,695 28,133
Investment in unconsolidated joint venture, at equity [1] 858 363
Real estate investments 72,723 73,896
Total investments 534,566 196,715
Cash and cash equivalents 360,488 628,943
Restricted cash 2,600 2,400
Accrued interest and dividends receivable 1,421 353
Income taxes receivable 1,789 4,084
Premiums receivable, net (allowance: $3,935 and $1,750, respectively) 52,302 68,157
Prepaid reinsurance premiums 81,023 26,355
Reinsurance recoverable, net of allowance for credit losses:    
Paid losses and loss adjustment expenses (allowance: $0 and $0, respectively) 11,134 11,985
Unpaid losses and loss adjustment expenses (allowance: $62 and $90, respectively) 42,348 64,665
Deferred policy acquisition costs 48,305 57,695
Property and equipment, net 17,244 14,232
Right-of-use assets - operating leases 1,861 2,204
Intangible assets, net 14,358 10,636
Funds withheld for assumed business 82,468 73,716
Other assets 28,796 14,717
Total assets 1,280,703 1,176,857
Liabilities and Equity    
Losses and loss adjustment expenses 238,824 237,165
Unearned premiums 370,140 366,744
Advance premiums 25,428 13,771
Reinsurance payable on paid losses and loss adjustment expenses 4,302 4,017
Ceded reinsurance premiums payable 24,641 19,318
Accrued expenses 17,093 15,453
Deferred income taxes, net 6,168 11,739
Revolving credit facility 0 15,000
Long-term debt 211,648 45,504
Lease liabilities - operating leases 1,824 2,203
Other liabilities 48,737 31,485
Total liabilities 948,805 762,399
Commitments and contingencies (Note 20)
Redeemable noncontrolling interest (Note 17) 91,963 89,955
Equity:    
Common stock (no par value, 40,000,000 shares authorized, 9,047,972 and 10,131,399 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively) 0 0
Additional paid-in capital 12,887 76,077
Retained income 229,621 246,790
Accumulated other comprehensive income, net of taxes (3,760) 498
Total stockholders’ equity 238,748 323,365
Noncontrolling interests 1,187 1,138
Total equity 239,935 324,503
Total liabilities, redeemable noncontrolling interest and equity $ 1,280,703 $ 1,176,857
[1] Includes the 90% share of FMKT Mel JV’s operating results.