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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Investments    
Total investments available for sale $ 5,966,537 $ 5,876,721
Other invested assets 359,823 303,900
Total investments 6,326,360 6,180,621
Cash 92,116 131,480
Accrued investment income 45,940 43,732
Accounts receivable 52,340 55,564
Deferred policy acquisition costs 9,237 9,653
Property and equipment (at cost, less accumulated depreciation of $74,283 in 2025 and $72,270 in 2024) 42,434 41,871
Prepaid federal income tax 497,356 489,600
Goodwill and acquired intangible assets, net 78,855 79,556
Other assets 75,923 79,572
Total assets 7,220,561 7,111,649
Liabilities    
Reserve for losses and LAE 364,749 328,866
Unearned premium reserve 102,382 115,983
Net deferred tax liability 427,202 392,428
Senior Notes due 2029, net 494,630 493,959
Other liabilities 158,750 176,755
Total liabilities 1,547,713 1,507,991
Commitments and contingencies (see Note 7)
Stockholders’ Equity    
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 0 shares in 2025 and 105,015 shares in 2024 1,493 1,575
Additional paid-in capital 888,337 1,214,956
Accumulated other comprehensive loss (215,666) (303,984)
Retained earnings 4,998,684 4,691,111
Total stockholders’ equity 5,672,848 5,603,658
Total liabilities and stockholders’ equity 7,220,561 7,111,649
Fixed maturities    
Investments    
Total investments available for sale 5,383,504 5,112,697
Short-term investments    
Investments    
Total investments available for sale $ 583,033 $ 764,024