Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fixed maturity securities:
Available-for-sale, at fair value (amortized cost: 2019 – $1,398,533; 2018 – $1,199,409)	$ 1,433,626	$ 1,184,202
Equity securities, at fair value (cost: 2019 – $73,244; 2018 – $77,152)	80,735	78,385
Bank loan participations held-for-investment, at amortized cost, net of allowance	260,864	260,972
Short-term investments	156,925	81,966
Other invested assets	61,210	72,321
Total invested assets	1,993,360	1,677,846
Cash and cash equivalents	206,912	172,457
Restricted cash equivalents	1,199,164	0
Accrued investment income	13,597	11,110
Premiums receivable and agents’ balances, net	369,462	307,899
Reinsurance recoverable on unpaid losses	668,045	467,371
Reinsurance recoverable on paid losses	33,221	18,344
Prepaid reinsurance premiums	178,976	112,498
Deferred policy acquisition costs	62,006	54,450
Intangible assets, net	36,940	37,537
Goodwill	181,831	181,831
Deferred tax assets, net	664	1,054
Other assets	80,227	94,379
Total assets	5,024,405	3,136,776
Liabilities:
Reserve for losses and loss adjustment expenses	2,045,506	1,661,459
Unearned premiums	524,377	386,473
Payables to reinsurers	108,059	61,662
Funds held	1,199,164	0
Senior debt	158,300	118,300
Junior subordinated debt	104,055	104,055
Accrued expenses	58,416	51,792
Income taxes payable	1,483	1,915
Other liabilities	46,464	41,879
Total liabilities	4,245,824	2,427,535
Commitments and contingent liabilities
Shareholders’ equity:
Common Shares – $0.0002 par value; 200,000,000 shares authorized. 2019 and 2018: 30,424,391 and 29,988,460 shares issued and outstanding, respectively	6	6
Preferred Shares – 2019 and 2018: $0.00125 par value; 20,000,000 shares authorized; no shares issued and outstanding	0	0
Additional paid-in capital	657,875	645,310
Retained earnings	89,586	79,753
Accumulated other comprehensive income (loss)	31,114	(15,828)
Total shareholders’ equity	778,581	709,241
Total liabilities and shareholders’ equity	$ 5,024,405	$ 3,136,776