Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Invested assets:
Fixed maturity securities, available-for-sale, at fair value (amortized cost: 2020 – $1,540,822; 2019 – $1,398,533)	$ 1,570,605	$ 1,433,626
Equity securities, at fair value (cost: 2020 – $77,218; 2019 – $73,244)	71,394	80,735
Bank loan participations (2020: at fair value; 2019: held-for-investment, at amortized cost, net of allowance)	202,888
Bank loan participations (2020: at fair value; 2019: held-for-investment, at amortized cost, net of allowance)		260,864
Short-term investments	71,058	156,925
Other invested assets	47,697	61,210
Total invested assets	1,963,642	1,993,360
Cash and cash equivalents	291,223	206,912
Restricted cash equivalents	1,107,321	1,199,164
Accrued investment income	13,781	13,597
Premiums receivable and agents’ balances, net	312,842	369,462
Reinsurance recoverable on unpaid losses, net	691,669	668,045
Reinsurance recoverable on paid losses	42,201	33,221
Prepaid reinsurance premiums	205,175	178,976
Deferred policy acquisition costs	58,618	62,006
Intangible assets, net	36,791	36,940
Goodwill	181,831	181,831
Other assets	91,716	80,891
Total assets	4,996,810	5,024,405
Liabilities:
Reserve for losses and loss adjustment expenses	2,043,358	2,045,506
Unearned premiums	539,564	524,377
Payables to reinsurers	109,499	108,059
Funds held	1,107,321	1,199,164
Senior debt	277,300	158,300
Junior subordinated debt	104,055	104,055
Accrued expenses	51,808	58,416
Other liabilities	43,588	47,947
Total liabilities	4,276,493	4,245,824
Commitments and contingent liabilities	0	0
Shareholders’ equity:
Common Shares – 2020 and 2019: $0.0002 par value; 200,000,000 shares authorized; 30,520,428 and 30,424,391 shares issued and outstanding, respectively	6	6
Preferred Shares – 2020 and 2019: $0.00125 par value; 20,000,000 shares authorized; no shares issued and outstanding	0	0
Additional paid-in capital	657,704	657,875
Retained earnings	35,412	89,586
Accumulated other comprehensive income	27,195	31,114
Total shareholders’ equity	720,317	778,581
Total liabilities and shareholders’ equity	$ 4,996,810	$ 5,024,405