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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
ASSETS    
Fixed maturities, available-for-sale, at fair value (amortized cost of $689,163 and $675,245) $ 635,458 $ 669,354
Equity securities, at fair value, (cost $1,514 and $1,415) 1,514 1,415
Other investments, net 17,352 23,929
Total investments 654,324 694,698
Cash and cash equivalents 290,932 359,337
Restricted cash 5,416 5,415
Accrued investment income 3,215 3,167
Premiums receivable, net 81,277 71,925
Reinsurance recoverable on paid and unpaid claims, net of allowance for credit losses of $45 289,106 269,391
Prepaid reinsurance premiums 468,748 265,873
Income tax receivable 13,281 11,739
Deferred income tax asset, net 9,762 0
Deferred policy acquisition costs, net 99,468 93,881
Property and equipment, net 19,622 17,426
Right-of-use lease asset, net 26,047 27,753
Intangibles, net 52,751 55,926
Goodwill 0 91,959
Other assets 15,956 12,272
Total Assets 2,029,905 1,980,762
LIABILITIES AND STOCKHOLDERS' EQUITY    
Unpaid losses and loss adjustment expenses 553,909 590,166
Unearned premiums 655,351 590,419
Reinsurance payable 375,284 191,728
Long-term debt, net 122,990 120,757
Deferred income tax liability, net 0 9,426
Advance premiums 37,827 24,504
Accrued compensation 7,730 8,014
Lease liability 29,647 31,172
Accounts payable and other liabilities 66,621 71,525
Total Liabilities 1,849,359 1,637,711
Commitments and contingencies (Note 17)
Stockholders’ Equity:    
Common stock, $0.0001 par value, 50,000,000 shares authorized, 26,569,096 shares issued and 26,544,096 outstanding at June 30, 2022 and 26,803,511 shares issued and 26,753,511 outstanding at December 31, 2021 3 3
Additional paid-in capital 333,747 332,797
Accumulated other comprehensive loss, net of taxes (41,194) (4,573)
Treasury stock, at cost, 11,257,855 and 10,536,737 shares at June 30, 2022 and December 31, 2021 (128,557) (123,557)
Retained earnings 16,547 138,381
Total Stockholders' Equity 180,546 343,051
Total Liabilities and Stockholders' Equity $ 2,029,905 $ 1,980,762