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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Assets    
Fixed-maturity securities, available for sale, at fair value $ 483,901 $ 42,583
Equity securities, at fair value 34,583 51,740
Limited partnership investments 25,702 28,133
Investment in unconsolidated joint venture, at equity [1] 18 363
Real estate investments 71,388 73,896
Total investments 615,592 196,715
Cash and cash equivalents 234,863 628,943
Restricted cash 2,900 2,400
Accrued interest and dividends receivable 1,952 353
Income taxes receivable 2,807 4,084
Premiums receivable, net (allowance: $5,362 and $1,750, respectively) 34,998 68,157
Prepaid reinsurance premiums 66,627 26,355
Reinsurance recoverable, net of allowance for credit losses:    
Paid losses and loss adjustment expenses (allowance: $0 and $0, respectively) 71,594 11,985
Unpaid losses and loss adjustment expenses (allowance: $454 and $90, respectively) 616,765 64,665
Deferred policy acquisition costs 45,522 57,695
Property and equipment, net 17,910 14,232
Right-of-use assets - operating leases 777 2,204
Intangible assets, net 10,578 10,636
Funds withheld for assumed business 48,772 73,716
Other assets 31,671 14,717
Total assets 1,803,328 1,176,857
Liabilities and Equity    
Losses and loss adjustment expenses 863,765 237,165
Unearned premiums 368,047 366,744
Advance premiums 18,587 13,771
Reinsurance payable on paid losses and loss adjustment expenses 8,606 4,017
Ceded reinsurance premiums payable 17,646 19,318
Accrued expenses 14,534 15,453
Reinsurance recovered in advance on unpaid losses 19,863 0
Deferred income taxes, net 1,704 11,739
Revolving credit facility 0 15,000
Long-term debt 211,687 45,504
Lease liabilities - operating leases 721 2,203
Other liabilities 23,361 31,485
Total liabilities 1,548,521 762,399
Commitments and contingencies (Note 23)
Redeemable noncontrolling interest (Note 19) 93,553 89,955
Equity:    
Common stock (no par value, 40,000,000 shares authorized, 8,598,682 and 10,131,399 shares issued and outstanding in 2022 and 2021, respectively) 0 0
Additional paid-in capital 0 76,077
Retained income 172,482 246,790
Accumulated other comprehensive (loss) income, net of taxes (9,886) 498
Total stockholders’ equity 162,596 323,365
Noncontrolling interests (1,342) 1,138
Total equity 161,254 324,503
Total liabilities, redeemable noncontrolling interest and equity $ 1,803,328 $ 1,176,857
[1] Includes the 90% share of FMKT Mel JV’s operating results.