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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Assets    
Fixed-maturity securities, available for sale, at fair value (amortized cost: $2,352,901, allowance for credit losses: $422 – 2023; $1,933,632 and $366 –2022) $ 2,183,686 $ 1,760,100
Equity securities, at fair value (cost: $161,526 – 2023; $126,478 – 2022) 196,848 152,471
Assets held for sale 57,526 0
Real Estate Investments, Net 19,482 76,387
Short-term investments 28,778 41,337
Total investments 2,486,320 2,030,295
Cash and Cash Equivalents, at Carrying Value 125,057 156,274
Investment income due and accrued 17,696 14,451
Premiums receivable, net of allowance for credit losses of $12,167 – 2023; $8,067 – 2022 147,092 105,754
Reinsurance recoverables, net 229,903 220,454
Ceded unearned premiums 48,645 42,935
Deferred policy acquisition costs, net of ceding commissions 85,326 61,594
Intangible assets 3,538 3,538
Deferred Income Tax Assets, Net 58,047 56,983
Other assets 68,578 54,844
Total assets 3,270,202 2,747,122
Liabilities    
Reserves for unpaid losses and loss adjustment expenses 1,455,734 1,238,402
Unearned premiums 675,254 499,677
Payable to reinsurers 42,143 32,024
Accounts payable and accrued expenses 22,457 31,361
Debt 195,876 195,747
Other liabilities 6,923 4,462
Total liabilities 2,398,387 2,001,673
Stockholders' Equity    
Common stock, $0.01 par value, 400,000,000 shares authorized, 23,162,175 and 23,090,526 shares issued and outstanding at June 30, 2023 and December 31, 2022 respectively 232 231
Additional paid-in capital 347,865 347,015
Retained earnings 655,234 533,121
Accumulated other comprehensive loss (131,516) (134,918)
Total stockholders’ equity 871,815 745,449
Total liabilities and stockholders’ equity $ 3,270,202 $ 2,747,122