0000064996-19-000015.txt : 20190430 0000064996-19-000015.hdr.sgml : 20190430 20190430134319 ACCESSION NUMBER: 0000064996-19-000015 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 81 CONFORMED PERIOD OF REPORT: 20190331 FILED AS OF DATE: 20190430 DATE AS OF CHANGE: 20190430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERCURY GENERAL CORP CENTRAL INDEX KEY: 0000064996 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 952211612 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-12257 FILM NUMBER: 19780319 BUSINESS ADDRESS: STREET 1: 4484 WILSHIRE BLVD CITY: LOS ANGELES STATE: CA ZIP: 90010 BUSINESS PHONE: 2139371060 MAIL ADDRESS: STREET 1: 4484 WILSHIRE BLVD CITY: LOS ANGELES STATE: CA ZIP: 90010 10-Q 1 mcy-2019331xq1.htm 10-Q Document

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________
FORM 10-Q
_________________________
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended March 31, 2019
Commission File No. 001-12257
 ______________________________
MERCURY GENERAL CORPORATION
(Exact name of registrant as specified in its charter)
 ________________________________
California
95-2211612
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
 
 
4484 Wilshire Boulevard, Los Angeles, California
90010
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (323) 937-1060
 _______________________________
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ý    No  o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ý    No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. 
Large accelerated filer
ý
  
Accelerated filer
o
Non-accelerated filer
o  
  
Smaller reporting company
o
Emerging growth company
o
 
 
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in the Rule 12b-2 of the Exchange Act).    Yes o    No  ý
At April 25, 2019, the registrant had issued and outstanding an aggregate of 55,352,577 shares of its Common Stock.
 





MERCURY GENERAL CORPORATION
INDEX TO FORM 10-Q
 
 
 
 
 
 
Page
 
 
 
 
Item 1
 
 
 
 
 
Item 2
Item 3
Item 4
 
 
 
 
 
 
Item 1
Item 1A
Item 2
Item 3
Item 4
Item 5
Item 6
 
 

2


PART I - FINANCIAL INFORMATION
 
Item 1. Financial Statements

MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
 
 
March 31, 2019
 
December 31, 2018
 
(unaudited)
 
 
ASSETS
 
 
 
Investments, at fair value:
 
 
 
Fixed maturity securities (amortized cost $3,011,979; $2,969,541)
$
3,077,373

 
$
2,985,161

Equity securities (cost $577,263; $544,082)
616,500

 
529,631

Short-term investments (cost $367,837; $254,518)
367,351

 
253,299

Total investments
4,061,224

 
3,768,091

Cash
270,105

 
314,291

Receivables:
 
 
 
Premium
579,963

 
555,038

Accrued investment income
43,936

 
45,373

Other
6,330

 
6,132

Total receivables
630,229

 
606,543

Reinsurance recoverables
114,500

 
221,088

Deferred policy acquisition costs
219,723

 
215,131

Fixed assets (net of accumulated depreciation $364,015; $359,269)
155,844

 
153,023

Operating lease right-of-use assets
41,275

 

Current income taxes
27,051

 
38,885

Deferred income taxes

 
13,339

Goodwill
42,796

 
42,796

Other intangible assets, net
14,437

 
15,534

Other assets
29,536

 
45,008

Total assets
$
5,606,720

 
$
5,433,729

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
Loss and loss adjustment expense reserves
$
1,787,612

 
$
1,829,412

Unearned premiums
1,273,661

 
1,236,181

Notes payable
371,834

 
371,734

Accounts payable and accrued expenses
137,258

 
115,071

Operating lease liabilities
43,439

 

Deferred income taxes
6,166

 

Other liabilities
267,456

 
263,647

Total liabilities
3,887,426

 
3,816,045

Commitments and contingencies


 


Shareholders’ equity:
 
 
 
Common stock without par value or stated value:
       Authorized 70,000 shares; issued and outstanding 55,350; 55,340
98,495

 
98,026

Retained earnings
1,620,799

 
1,519,658

Total shareholders’ equity
1,719,294

 
1,617,684

Total liabilities and shareholders’ equity
$
5,606,720

 
$
5,433,729

See accompanying Notes to Consolidated Financial Statements.

3


MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
 
 
Three Months Ended March 31,
 
2019
 
2018
Revenues:
 
 
 
Net premiums earned
$
870,245

 
$
808,084

Net investment income
34,174

 
31,510

Net realized investment gains (losses)
111,074

 
(58,735
)
Other
2,250

 
2,325

Total revenues
1,017,743

 
783,184

Expenses:
 
 
 
Losses and loss adjustment expenses
630,416

 
632,234

Policy acquisition costs
148,413

 
140,984

Other operating expenses
67,489

 
65,399

Interest
4,256

 
4,266

Total expenses
850,574

 
842,883

Income (loss) before income taxes
167,169

 
(59,699
)
Income tax expense (benefit)
31,302

 
(17,092
)
Net income (loss)
$
135,867

 
$
(42,607
)
Net income (loss) per share:
 
 
 
Basic
$
2.46

 
$
(0.77
)
Diluted
$
2.45

 
$
(0.77
)
Weighted average shares outstanding:
 
 
 
Basic
55,341

 
55,332

Diluted
55,348

 
55,332




















 
See accompanying Notes to Consolidated Financial Statements.

4


MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(in thousands)
(unaudited)

 
Three Months Ended March 31,
 
2019
 
2018
Common stock, beginning of year
$
98,026

 
$
97,523

Proceeds from stock options exercised
453

 

Share-based compensation expense
16

 
23

Common stock, end of period
98,495

 
97,546

Retained earnings, beginning of year
1,519,658

 
1,663,864

Net income (loss)
135,867

 
(42,607
)
Dividends paid to shareholders
(34,726
)
 
(34,582
)
Retained earnings, end of period
1,620,799

 
1,586,675

Total shareholders’ equity, end of period
$
1,719,294

 
$
1,684,221


See accompanying Notes to Consolidated Financial Statements.


5


MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)

 
Three Months Ended March 31,
 
2019
 
2018
CASH FLOWS FROM OPERATING ACTIVITIES
 
 
 
Net income (loss)
$
135,867

 
$
(42,607
)
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
15,085

 
14,148

Net realized investment (gains) losses
(111,074
)
 
58,735

Increase in premiums receivable
(24,923
)
 
(35,117
)
Decrease in reinsurance recoverables
106,588

 
3,673

Changes in current and deferred income taxes
31,338

 
(17,087
)
Increase in deferred policy acquisition costs
(4,592
)
 
(4,058
)
(Decrease) increase in loss and loss adjustment expense reserves
(41,800
)
 
20,360

Increase in unearned premiums
37,480

 
48,417

Increase in accounts payable and accrued expenses
22,742

 
24,761

Share-based compensation
16

 
23

Other, net
7,960

 
7,103

Net cash provided by operating activities
174,687

 
78,351

CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
Fixed maturity securities available for sale in nature:
 
 
 
Purchases
(146,592
)
 
(213,947
)
Sales
15,197

 
60,238

Calls or maturities
80,099

 
62,673

Equity securities available for sale in nature:
 
 
 
Purchases
(256,696
)
 
(249,177
)
Sales
227,787

 
221,616

Changes in securities payable and receivable
15,901

 
19,537

(Increase) decrease in short-term investments
(113,287
)
 
57,110

Purchases of fixed assets
(8,430
)
 
(6,206
)
Other, net
1,421

 
3,044

Net cash used in investing activities
(184,600
)
 
(45,112
)
CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
Dividends paid to shareholders
(34,726
)
 
(34,582
)
Proceeds from stock options exercised
453

 

Net cash used in financing activities
(34,273
)
 
(34,582
)
Net decrease in cash
(44,186
)
 
(1,343
)
Cash:
 
 
 
Beginning of the year
314,291

 
291,413

End of period
$
270,105

 
$
290,070

SUPPLEMENTAL CASH FLOW DISCLOSURE
 
 
 
Interest paid
$
8,268

 
$
8,250

Income taxes refunded, net
$
36

 
$
6







See accompanying Notes to Consolidated Financial Statements.

6


MERCURY GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)

1. General

Consolidation and Basis of Presentation

The interim consolidated financial statements include the accounts of Mercury General Corporation and its subsidiaries (referred to herein collectively as the “Company”). For the list of the Company’s subsidiaries, see Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. These interim financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”), which differ in some respects from those filed in reports to insurance regulatory authorities. The financial data of the Company included herein are unaudited. In the opinion of management, all material adjustments of a normal recurring nature have been made to present fairly the Company’s financial position at March 31, 2019 and the results of operations and cash flows for the periods presented. All intercompany transactions and balances have been eliminated.

Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted from the accompanying interim consolidated financial statements and related notes. Readers are urged to review the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 for more complete descriptions and discussions. Operating results and cash flows for the three months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019.

Certain prior period amounts have been reclassified to conform to the current period presentation.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates require the Company to apply complex assumptions and judgments, and often the Company must make estimates about the effects of matters that are inherently uncertain and will likely change in subsequent periods. The most significant assumptions in the preparation of these consolidated financial statements relate to reserves for losses and loss adjustment expenses. Actual results could differ from those estimates. See Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.
Earnings per Share

There were no potentially dilutive securities with anti-dilutive effect for the three months ended March 31, 2019. Potentially dilutive securities representing approximately 55,000 shares of common stock were excluded from the computation of diluted earnings per common share for the three months ended March 31, 2018 because their effect would have been anti-dilutive. For the three months ended March 31, 2018, the dilutive impact of incremental shares was excluded as the Company generated a net loss.
Dividends per Share

The Company declared and paid a dividend per share of $0.6275 and $0.6250 during the three months ended March 31, 2019 and 2018, respectively.
Deferred Policy Acquisition Costs

Deferred policy acquisition costs consist of commissions paid to outside agents, premium taxes, salaries, and certain other underwriting costs that are incremental or directly related to the successful acquisition of new and renewal insurance contracts and are amortized over the life of the related policy in proportion to premiums earned. Deferred policy acquisition costs are limited to the amount that will remain after deducting from unearned premiums and anticipated investment income, the estimated losses and loss adjustment expenses, and the servicing costs that will be incurred as premiums are earned. The Company’s deferred policy acquisition costs are further limited by excluding those costs not directly related to the successful acquisition of insurance contracts.

7


Deferred policy acquisition cost amortization was $148.4 million and $141.0 million for the three months ended March 31, 2019 and 2018, respectively. The Company does not defer advertising expenditures but expenses them as incurred. The Company recorded net advertising expense of approximately $13.6 million and $13.7 million for the three months ended March 31, 2019 and 2018, respectively.

Reinsurance

Liabilities for unearned premiums and unpaid losses are stated in the accompanying consolidated financial statements before deductions for ceded reinsurance. Unpaid losses and unearned premiums that are ceded to reinsurers are carried in reinsurance recoverables and other assets, respectively, in the Company's consolidated balance sheets. Earned premiums are stated net of deductions for ceded reinsurance.

The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2019. The Treaty provides $205 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $10 million Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake.

The Company recognized ceded premiums earned of approximately $15 million and $13 million for the three months ended March 31, 2019 and 2018, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $(58) million and $1 million for the three months ended March 31, 2019 and 2018, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses for the three months ended March 31, 2019 resulted from re-estimation of the catastrophe loss reserves, including estimated subrogation that primarily benefited the Company's reinsurers, on the 2018 Camp and Woolsey Fires and the 2017 Southern California wildfires, which have been ceded to reinsurers under the Treaty. See Note 11. Loss and Loss Adjustment Expense Reserves for additional information.

The Company's insurance subsidiaries, as primary insurers, are required to pay losses to the extent reinsurers are unable to discharge their obligations under the reinsurance agreements.
Revenue from Contracts with Customers (Topic 606)

The Company's revenue from contracts with customers is commission income earned from third-party insurers by its 100% owned insurance agencies, which amounted to approximately $4.2 million and $4.3 million, with related expenses of $2.7 million and $2.8 million, for the three months ended March 31, 2019 and 2018, respectively. All of the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting (see Note 14. Segment Information).
 
As of March 31, 2019 and December 31, 2018, the Company had no contract assets and contract liabilities, and no remaining performance obligations associated with unrecognized revenues.

2. Recently Issued Accounting Standards

In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software under Subtopic 350-40. This ASU also requires an entity to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement and present such expense in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The entity is also required to present the capitalized implementation costs in the statement of financial position in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented. ASU 2018-15 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company is in the process of evaluating the impact of ASU 2018-15 on its consolidated financial statements and related disclosures.

In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement." The amendments in this ASU require certain existing disclosure

8


requirements in Topic 820 to be modified or removed, and certain new disclosure requirements to be added to the Topic. In addition, this ASU allows entities to exercise more discretion when considering fair value measurement disclosures. ASU 2018-13 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company is in the process of evaluating the impact of ASU 2018-13 on its consolidated financial statements and related disclosures.

In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment." ASU 2017-04 removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of Step 2 of the goodwill impairment test and requires an entity to recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. ASU 2017-04 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company does not anticipate that ASU 2017-04 will have a material impact on its consolidated financial statements and related disclosures.

In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326)." The amendments in this ASU replace the "incurred loss" methodology for recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of information including past events, current conditions and reasonable and supportable forecasts that affect the collectibility of reported amounts of financial assets that are not accounted for at fair value through net income, such as loans, certain debt securities, trade receivables, net investment in leases, off-balance sheet credit exposures and reinsurance receivables. Under the current GAAP incurred loss methodology, recognition of the full amount of credit losses is generally delayed until the loss is probable of occurring. Current GAAP restricts the ability to record credit losses that are expected, but do not yet meet the probability threshold. Subsequently, the FASB has issued additional ASUs on Topic 326 that do not change the core principle of the guidance in ASU 2016-13 but clarify or address certain aspects of it. ASU 2016-13 and the additional ASUs on Topic 326 will be effective for the Company beginning January 1, 2020. While the Company is in the process of evaluating the impact of ASU 2016-13, it does not expect this ASU to have a material impact on its consolidated financial statements and related disclosures as most of its financial instruments with potential exposure to material credit losses are accounted for at fair value through net income.

3. Financial Instruments

Financial instruments recorded in the consolidated balance sheets include investments, note receivable, other receivables, options sold, total return swap, accounts payable, and unsecured notes payable. Due to their short-term maturities, the carrying values of other receivables and accounts payable approximate their fair values. All investments are carried at fair value in the consolidated balance sheets.

The following table presents the fair values of financial instruments:
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
(Amounts in thousands)
Assets
 
 
 
Investments
$
4,061,224

 
$
3,768,091

Note receivable
5,588

 
5,557

Liabilities
 
 
 
Total return swap
$
2,312

 
$
4,851

Options sold
716

 
3

Unsecured notes
372,638

 
362,674

Investments
The Company applies the fair value option to all fixed maturity and equity securities and short-term investments at the time an eligible item is first recognized. The cost of investments sold is determined on a first-in and first-out method and realized gains and losses are included in net realized investment gains (losses) in the Company's consolidated statements of operations. See Note 4. Fair Value Option for additional information.

In the normal course of investing activities, the Company either forms or enters into relationships with variable interest entities ("VIEs"). A VIE is an entity that either has investors that lack certain essential characteristics of a controlling financial interest, such as simple majority kick-out rights, or lacks sufficient funds to finance its own activities without financial support provided by other entities. The Company performs ongoing qualitative assessments of the VIEs to determine whether the Company has a controlling financial interest in the VIE and therefore is the primary beneficiary. The Company is deemed to have a controlling

9


financial interest when it has both the ability to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. Based on the Company's assessment, if it determines it is the primary beneficiary, the Company consolidates the VIE in its consolidated financial statements.

The Company forms special purpose investment vehicles to facilitate its investment activities involving derivative instruments such as total return swaps, or limited partnerships such as private equity funds. These special purpose investment vehicles are consolidated VIEs as the Company has determined it is the primary beneficiary of such VIEs. Creditors have no recourse against the Company in the event of default by these VIEs. The Company had no implied or unfunded commitments to these VIEs at March 31, 2019 and December 31, 2018. The Company's financial or other support provided to these VIEs and its loss exposure are limited to its collateral and original investment.

The Company also invests directly in limited partnerships such as private equity funds. These investments are non-consolidated VIEs as the Company has determined it is not the primary beneficiary. The Company's maximum exposure to loss is limited to the total carrying value that is included in equity securities in the Company's consolidated balance sheets. At March 31, 2019 and December 31, 2018, the Company had no outstanding unfunded commitments to these VIEs whereby the Company may be called by the partnerships during the commitment period to fund the purchase of new investments and the expenses of the partnerships.
    
Note Receivable
In August 2017, the Company completed the sale of approximately six acres of land located in Brea, California (the "Property"), for a total sale price of approximately $12.2 million. Approximately $5.7 million of the total sale price was received in the form of a promissory note (the "Note") and the remainder in cash. The Note is secured by a first trust deed and an assignment of rents on the Property, and bears interest at an annual rate of 3.5%, payable in monthly installments. The Note matures in August 2020. Interest earned on the Note is recognized in other revenues in the Company's consolidated statements of operations. The Company elected to apply the fair value option to the Note at the time it was first recognized. The fair value of note receivable is included in other assets in the Company's consolidated balance sheets, while the changes in fair value of note receivable are included in net realized investment gains or losses in the Company's consolidated statements of operations.

Options Sold

The Company writes covered call options through listed and over-the-counter exchanges. When the Company writes an option, an amount equal to the premium received by the Company is recorded as a liability and is subsequently adjusted to the current fair value of the option written. Premiums received from writing options that expire unexercised are treated by the Company as realized gains from investments on the expiration date. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security or currency in determining whether the Company has realized a gain or loss. The Company, as writer of an option, bears the market risk of an unfavorable change in the price of the security underlying the written option. Liabilities for covered call options are included in other liabilities in the Company's consolidated balance sheets.
Total Return Swap
The fair value of the total return swap reflects the estimated amount that, upon termination of the contract, would be received for selling an asset or paid to transfer a liability in an orderly transaction.
Unsecured Notes
The fair value of the Company’s publicly traded $375 million unsecured notes at March 31, 2019 and December 31, 2018 was obtained from a third party pricing service.

For additional disclosures regarding methods and assumptions used in estimating fair values, see Note 5. Fair Value Measurements.

4. Fair Value Option

The Company applies the fair value option to all fixed maturity and equity investment securities and short-term investments at the time an eligible item is first recognized. In addition, the Company elected to apply the fair value option to the note receivable recognized as part of the sale of land in August 2017. The primary reasons for electing the fair value option were simplification and cost-benefit considerations as well as the expansion of the use of fair value measurement by the Company consistent with the long-term measurement objectives of the FASB for accounting for financial instruments.

10


Gains or losses due to changes in fair value of financial instruments measured at fair value pursuant to application of the fair value option are included in net realized investment gains or losses in the Company’s consolidated statements of operations. Interest and dividend income on investment holdings are recognized on an accrual basis at each measurement date and are included in net investment income in the Company’s consolidated statements of operations, while interest earned on the note receivable is included in other revenues in the Company’s consolidated statements of operations.

The following table presents gains (losses) due to changes in fair value of investments and the note receivable that are measured at fair value pursuant to the application of the fair value option:
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands)
Fixed maturity securities
$
49,775

 
$
(46,213
)
Equity securities
53,687

 
(11,886
)
Short-term investments
734

 
(392
)
    Total investments
$
104,196

 
$
(58,491
)
Note receivable
31

 
(41
)
       Total gains (losses)
$
104,227

 
$
(58,532
)
5. Fair Value Measurements

The Company employs a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date using the exit price. Accordingly, when market observable data are not readily available, the Company’s own assumptions are used to reflect those that market participants would be presumed to use in pricing the asset or liability at the measurement date. Assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based on the level of judgment associated with inputs used to measure their fair values and the level of market price observability, as follows:
Level 1
Unadjusted quoted prices are available in active markets for identical assets or liabilities as of the reporting date.
Level 2
Pricing inputs are other than quoted prices in active markets, which are based on the following:
 
•     Quoted prices for similar assets or liabilities in active markets;
 
•     Quoted prices for identical or similar assets or liabilities in non-active markets; or
 
•     Either directly or indirectly observable inputs as of the reporting date.
Level 3
Pricing inputs are unobservable and significant to the overall fair value measurement, and the determination of fair value requires significant management judgment or estimation.
In certain cases, inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Thus, a Level 3 fair value measurement may include inputs that are observable (Level 1 or Level 2) and unobservable (Level 3). The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset or liability.
The Company uses prices and inputs that are current as of the measurement date, including during periods of market disruption. In periods of market disruption, the ability to observe prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified from Level 1 to Level 2, or from Level 2 to Level 3. The Company recognizes transfers between levels at either the actual date of the event or a change in circumstances that caused the transfer.
Summary of Significant Valuation Techniques for Financial Assets and Financial Liabilities
The Company’s fair value measurements are based on the market approach, which utilizes market transaction data for the same or similar instruments.
The Company obtained unadjusted fair values on 98.3% of its investment portfolio from an independent pricing service. For a private equity fund that was classified as Level 3 and included in equity securities at March 31, 2019 and December 31, 2018, the Company obtained specific unadjusted broker quotes based on net fund value and, to a lesser extent, unobservable inputs from

11


at least one knowledgeable outside security broker to determine the fair value. The fair value of the private equity fund was $1.2 million and $1.4 million at March 31, 2019 and December 31, 2018, respectively.
Level 1 measurements - Fair values of financial assets and financial liabilities are obtained from an independent pricing service, and are based on unadjusted quoted prices for identical assets or liabilities in active markets. Additional pricing services and closing exchange values are used as a comparison to ensure that reasonable fair values are used in pricing the investment portfolio.
U.S. government bonds /Short-term bonds: Valued using unadjusted quoted market prices for identical assets in active markets.
Common stock: Comprised of actively traded, exchange listed U.S. and international equity securities and valued based on unadjusted quoted prices for identical assets in active markets.
Money market instruments: Valued based on unadjusted quoted prices for identical assets in active markets.
Options sold: Comprised of free-standing exchange listed derivatives that are actively traded and valued based on unadjusted quoted prices for identical instruments in active markets.
Level 2 measurements - Fair values of financial assets and financial liabilities are obtained from an independent pricing service or outside brokers, and are based on prices for similar assets or liabilities in active markets or valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability. Additional pricing services are used as a comparison to ensure reliable fair values are used in pricing the investment portfolio.
Municipal securities: Valued based on models or matrices using inputs such as quoted prices for identical or similar assets in active markets.
Mortgage-backed securities: Comprised of securities that are collateralized by residential and commercial mortgage loans valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets. The Company had holdings of $22.4 million and $24.8 million in commercial mortgage-backed securities at March 31, 2019 and December 31, 2018, respectively.
Corporate securities/Short-term bonds: Valued based on a multi-dimensional model using multiple observable inputs, such as benchmark yields, reported trades, broker/dealer quotes and issue spreads, for identical or similar assets in active markets.
Non-redeemable preferred stock: Valued based on observable inputs, such as underlying and common stock of same issuer and appropriate spread over a comparable U.S. Treasury security, for identical or similar assets in active markets.
Total return swap: Valued based on multi-dimensional models using inputs such as interest rate yield curves, underlying debt/credit instruments and the appropriate benchmark spread for similar assets in active markets, observable for substantially the full term of the contract.
Collateralized loan obligations ("CLOs"): Valued based on underlying debt instruments and the appropriate benchmark spread for similar assets in active markets.
Other asset-backed securities: Comprised of securities that are collateralized by non-mortgage assets, such as automobile loans, valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets.
Note receivable: Valued based on observable inputs, such as benchmark yields, and considering any premium or discount for the differential between the stated interest rate and market interest rates, based on quoted market prices of similar instruments.
Level 3 measurements - Fair values of financial assets are based on inputs that are both unobservable and significant to the overall fair value measurement, including any items in which the evaluated prices obtained elsewhere were deemed to be of a distressed trading level.
Private equity fund: Private equity fund, excluding a private equity fund measured at net asset value ("NAV"), is valued based on underlying investments of the fund or assets similar to such investments in active markets, taking into consideration specific unadjusted broker quotes based on net fund value and unobservable inputs from at least one knowledgeable outside security broker related to liquidity assumptions.
Fair value measurement using NAV practical expedient - The fair value of the Company's investment in private equity fund measured at net asset value is determined using NAV as advised by the external fund manager and the third party administrator. The NAV of the Company's limited partnership interest in this fund is based on the manager's and the administrator's valuation of the underlying holdings in accordance with the fund's governing documents and GAAP. In accordance with applicable accounting

12


guidance, this investment, measured at fair value using the NAV practical expedient, is not classified in the fair value hierarchy. The strategy of the fund is to provide current income to investors by investing mainly in equity tranches and sub-investment grade rated debt tranches of CLO issuers in the new and secondary markets, and equity interests in vehicles established to purchase and warehouse loans in anticipation of a CLO closing or to satisfy regulatory risk retention requirements associated with certain CLOs. The Company has made all of its capital contributions in the fund and had no outstanding unfunded commitments at March 31, 2019 with respect to this fund. The underlying assets of the fund are expected to be liquidated over the period of approximately one to four years from March 31, 2019. The Company does not have the contractual option to redeem but will receive distributions based on the liquidation of the underlying assets and the interest proceeds from the underlying assets. In addition, the Company does not have the ability to withdraw from the fund, or to sell, assign, pledge or transfer its investment, without the consent from the general partner of the fund.
The Company’s financial instruments at fair value are reflected in the consolidated balance sheets on a trade-date basis. Related unrealized gains or losses are recognized in net realized investment gains or losses in the consolidated statements of operations. Fair value measurements are not adjusted for transaction costs.

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values:

 
March 31, 2019
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Assets
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
U.S. government bonds
$
23,786

 
$

 
$

 
$
23,786

Municipal securities

 
2,695,108

 

 
2,695,108

Mortgage-backed securities

 
28,438

 

 
28,438

Corporate securities

 
118,024

 

 
118,024

Collateralized loan obligations

 
172,963

 

 
172,963

Other asset-backed securities

 
39,054

 

 
39,054

Total fixed maturity securities
23,786

 
3,053,587

 

 
3,077,373

Equity securities:
 
 
 
 
 
 
 
Common stock
513,908

 

 

 
513,908

Non-redeemable preferred stock

 
33,739

 

 
33,739

Private equity fund

 

 
1,213

 
1,213

Private equity fund measured at net asset value (1)
 
 
 
 
 
 
67,640

Total equity securities
513,908

 
33,739

 
1,213

 
616,500

Short-term investments:
 
 
 
 
 
 
 
Short-term bonds
32,801

 
19,869

 

 
52,670

Money market instruments
314,681

 

 

 
314,681

Total short-term investments
347,482

 
19,869

 

 
367,351

Other assets:
 
 
 
 
 
 
 
Note receivable

 
5,588

 

 
5,588

Total assets at fair value
$
885,176

 
$
3,112,783

 
$
1,213

 
$
4,066,812

Liabilities
 
 
 
 
 
 
 
Other liabilities:
 
 
 
 
 
 
 
Total return swap
$

 
$
2,312

 
$

 
$
2,312

Options sold
716

 

 

 
716

Total liabilities at fair value
$
716


$
2,312


$


$
3,028


13


 
December 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Assets
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
U.S. government bonds
$
25,003

 
$

 
$

 
$
25,003

Municipal securities

 
2,620,132

 

 
2,620,132

Mortgage-backed securities

 
30,952

 

 
30,952

Corporate securities

 
105,524

 

 
105,524

Collateralized loan obligations

 
165,789

 

 
165,789

Other asset-backed securities

 
37,761

 

 
37,761

Total fixed maturity securities
25,003

 
2,960,158

 

 
2,985,161

Equity securities:
 
 
 
 
 
 
 
Common stock
430,973

 

 

 
430,973

Non-redeemable preferred stock

 
31,433

 

 
31,433

Private equity fund

 

 
1,445

 
1,445

Private equity fund measured at net asset value (1)
 
 
 
 
 
 
65,780

Total equity securities
430,973

 
31,433

 
1,445

 
529,631

Short-term investments:
 
 
 
 
 
 
 
Short-term bonds
31,472

 
16,784

 

 
48,256

Money market instruments
205,043

 

 

 
205,043

Total short-term investments
236,515

 
16,784

 

 
253,299

Other assets:
 
 
 
 
 
 


Note receivable

 
5,557

 

 
5,557

Total assets at fair value
$
692,491


$
3,013,932


$
1,445


$
3,773,648

Liabilities
 
 
 
 
 
 
 
Other liabilities:
 
 
 
 
 
 
 
Total return swap
$

 
$
4,851

 
$

 
$
4,851

Options sold
3

 

 

 
3

Total liabilities at fair value
$
3

 
$
4,851

 
$

 
$
4,854

__________ 
(1) The fair value is measured using the NAV practical expedient; therefore, it is not categorized within the fair value hierarchy. The fair value amount is presented in this table to permit reconciliation of the fair value hierarchy to the amounts presented in the Company's consolidated balance sheets.

The following table presents a summary of changes in fair value of Level 3 financial assets and financial liabilities:
 
 
Private Equity Fund
 
 
Three Months Ended March 31,
 
 
2019
 
2018
 
 
 
 
 
 
 
(Amounts in thousands)
Beginning balance
 
$
1,445

 
$
1,481

     Realized gains (losses) included in earnings
 
111

 
(31
)
Settlements
 
(343
)
 

Ending balance
 
$
1,213

 
$
1,450

The amount of total gains (losses) for the period included in earnings attributable to assets still held at March 31
 
$
103

 
$
(31
)

There were no transfers between Levels 1, 2, and 3 of the fair value hierarchy during the three months ended March 31, 2019 and 2018.

At March 31, 2019, the Company did not have any nonrecurring fair value measurements of nonfinancial assets or nonfinancial

14


liabilities.
Financial Instruments Disclosed, But Not Carried, at Fair Value
The following tables present the carrying value and fair value of the Company’s financial instruments disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such instruments are categorized:
 
March 31, 2019
 
Carrying Value
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
 
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Liabilities
 
 
 
 
 
 
 
 
 
Notes payable:
 
 
 
 
 
 
 
 
 
Unsecured notes
$
371,834

 
$
372,638

 
$

 
$
372,638

 
$

 
December 31, 2018
 
Carrying Value
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
 
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Liabilities
 
 
 
 
 
 
 
 
 
Notes payable:
 
 
 
 
 
 
 
 
 
Unsecured notes
$
371,734

 
$
362,674

 
$

 
$
362,674

 
$


Unsecured Notes
The fair value of the Company’s publicly traded $375 million unsecured notes at March 31, 2019 and December 31, 2018 was based on the spreads above the risk-free yield curve. These spreads are generally obtained from the new issue market, secondary trading and broker-dealer quotes.
See Note 12. Notes Payable for additional information on unsecured notes.
6. Leases

The Company adopted ASU 2016-02, "Leases (Topic 842)," which supersedes the guidance in Accounting Standards Codification ("ASC") 840, "Leases," on January 1, 2019, using a modified retrospective transition, with the cumulative-effect adjustment to the opening balance of retained earnings as of the effective date (the "effective date method"). Under the effective date method, financial results reported in periods prior to 2019 are unchanged. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company not to reassess (a) whether arrangements contain leases, (b) lease classification and (c) initial direct costs. Adoption of the new standard resulted in the recognition of operating lease right-of-use ("ROU") assets and operating lease liabilities of approximately $41 million and $43 million, respectively, at the adoption date for the Company's operating leases. The difference of approximately $2 million between the operating lease ROU assets and operating lease liabilities represents reclassification of deferred rent liability (the difference between the straight-line rent expenses and paid rent amounts under the leases) to operating lease ROU assets from other liabilities at the adoption date. The Company did not have any cumulative-effect adjustment as a result of the adoption.

The Company has operating leases for office space for insurance operations and administrative functions, automobiles for general uses and certain employees, and office equipment such as printers and computers. As of March 31, 2019, the Company's leases had remaining terms ranging from less than one year to approximately 7 years. These leases may contain provisions for periodic adjustments to rates and charges applicable under such lease agreements. These rates and charges also may vary with the Company's level of uses. Certain of these leases include one or more options to renew or early terminate, and the exercise of these options is at our sole discretion. Certain leases also include options to purchase the leased property. The Company's lease agreements do not contain any residual value guarantees.

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease ROU assets and operating lease liabilities in the Company's consolidated balance sheets. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term.

15


The Company uses its estimated incremental borrowing rate for office space and office equipment leases, which is derived from information available at the lease commencement date, in determining the present value of lease payments, as the implicit rate is not readily available for such leases. The Company gives consideration to its recent debt issuances as well as publicly available data for instruments with similar characteristics when calculating its incremental borrowing rates. For automobile leases, the Company uses a rate implicit in the lease at the lease commencement date in determining the present value of lease payments, as the readily-determinable implicit rate is provided in such leases. The Company's lease terms include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The Company does not use the short-term lease exemption practical expedient and records all leases on the balance sheets, including leases with a term of twelve months or less. The Company accounts for the lease and non-lease components as a single lease component for all of its leases. Lease expense for scheduled lease payments is recognized on a straight-line basis over the lease term.

The components of lease expense were as follows:
 
 
 
 
Three Months Ended March 31, 2019
Lease Cost
 
Classification
 
 
 
 
 
(Amounts in thousands)
Operating lease cost (1)
 
Other operating expenses
 
$
3,190

Variable lease cost (1)
 
Other operating expenses
 
739

Total lease cost
 
 
 
3,929

__________ 
(1) Includes short-term leases, which are immaterial.

Supplemental balance sheet information related to leases was as follows:
 
 
March 31, 2019
 
 
(Amounts in thousands)
Operating lease ROU assets
 
$
41,275

Operating lease liabilities
 
43,439


Weighted-average lease term and discount rate were as follows:
 
 
March 31, 2019
Weighted-average remaining lease term (in years):
 
 
      Operating leases
 
3.9

 
 
 
Weighted-average discount rate:
 
 
      Operating leases
 
3.29
%

Supplemental cash flow and other information related to leases was as follows:
 
 
Three Months Ended March 31, 2019
 
 
 
 
(Amounts in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
 
 
      Operating cash flows from operating leases
 
$
3,316

 
 
 
ROU assets obtained in exchange for lease liabilities:
 
 
      Operating leases
 
1,892









16


Maturities of lease liabilities as of March 31, 2019 were as follows:
Year
 
Operating Leases
 
 
(Amounts in thousands)
Remainder of 2019
 
$
10,171

2020
 
12,455

2021
 
9,699

2022
 
7,573

2023
 
4,130

2024 and thereafter
 
2,446

          Total lease payments
 
46,474

Less: Imputed interest
 
3,035

          Total lease obligations
 
43,439


As of March 31, 2019, the Company had additional operating lease commitments that have not yet commenced of approximately $6.5 million with each lease term ranging from approximately 1 year to 8 years. These operating leases will commence in 2019.

Disclosures related to periods prior to adoption of ASC Topic 842

Total rent expense recognized under the Company's various lease agreements was $3.6 million for the three months ended March 31, 2018. The following table presents future minimum commitments for operating leases as of December 31, 2018:
Year Ending December 31,
 
Operating Leases
 
 
(Amounts in thousands)
2019
 
$
12,812

2020
 
11,547

2021
 
8,732

2022
 
6,972

2023
 
3,659

Thereafter
 
1,966


7. Derivative Financial Instruments

The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is equity price risk. Equity contracts (options sold) on various equity securities are intended to manage the price risk associated with forecasted purchases or sales of such securities.

The Company also enters into derivative contracts to enhance returns on its investment portfolio.
On February 13, 2014, Fannette Funding LLC (“FFL”), a special purpose investment vehicle formed by and consolidated into the Company, entered into a total return swap agreement with Citibank. Under the agreement, FFL receives the income equivalent on underlying obligations due to Citibank and pays to Citibank interest on the outstanding notional amount of the underlying obligations. The total return swap is secured by approximately $31 million of U.S. Treasuries as collateral, which are included in short-term investments on the consolidated balance sheets. The Company paid interest at the rate of LIBOR plus 128 basis points prior to the renewal of the agreement in January 2018, LIBOR plus 120 basis points subsequent to the January 2018 renewal through July 2018, and LIBOR plus 105 basis points subsequent to the July 2018 renewal on the outstanding notional amount of the underlying obligations, which was approximately $106 million and $100 million as of March 31, 2019 and December 31, 2018, respectively. The agreement had an initial term of one year, subject to periodic renewal. In July 2018, the agreement was renewed through January 24, 2020, and the interest rate was changed to LIBOR plus 105 basis points.






17


The following tables present the location and amounts of derivative fair values in the consolidated balance sheets and derivative gains or losses in the consolidated statements of operations:
 
Liability Derivatives
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
(Amount in thousands)
Options sold - Other liabilities
$
716

 
$
3

Total return swap - Other liabilities
2,312

 
4,851

Total derivatives
$
3,028

 
$
4,854

 
Gains (Losses) Recognized in Income
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands)
Total return swap - Net realized investment gains (losses)
$
1,766

 
$
602

Options sold - Net realized investment gains (losses)
873

 
2,922

Total
$
2,639

 
$
3,524

Most options sold consist of covered calls. The Company writes covered calls on underlying equity positions held as an enhanced income strategy that is permitted for the Company’s insurance subsidiaries under statutory regulations. The Company manages the risk associated with covered calls through strict capital limitations and asset diversification throughout various industries. See Note 5. Fair Value Measurements for additional disclosures regarding options sold.
8. Goodwill and Other Intangible Assets
Goodwill
There were no changes in the carrying amount of goodwill during the three months ended March 31, 2019 and 2018. Goodwill is reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during the three months ended March 31, 2019 and 2018. All of the Company's goodwill is associated with the Property and Casualty business segment (See Note 14. Segment Information for additional information on the reportable business segment).
Other Intangible Assets
The following table presents the components of other intangible assets:
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Carrying
Amount
 
Useful Lives
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
 
(in years)
As of March 31, 2019:
 
 
 
 
 
 
 
Customer relationships
$
53,212

 
$
(48,998
)
 
$
4,214

 
11
Trade names
15,400

 
(6,577
)
 
8,823

 
24
Technology
4,300

 
(4,300
)
 

 
10
Insurance license
1,400

 

 
1,400

 
Indefinite
Total other intangible assets, net
$
74,312

 
$
(59,875
)
 
$
14,437

 
 
 
 
 
 
 
 
 
 
As of December 31, 2018:
 
 
 
 

 
 
Customer relationships
$
53,048

 
$
(47,897
)
 
$
5,151

 
11
Trade names
15,400

 
(6,417
)
 
8,983

 
24
Technology
4,300

 
(4,300
)
 

 
10
Insurance license
1,400

 

 
1,400

 
Indefinite
Total other intangible assets, net
$
74,148

 
$
(58,614
)
 
$
15,534

 
 

Other intangible assets are reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during the three months ended March 31, 2019 and 2018.

18


Other intangible assets with definite useful lives are amortized on a straight-line basis over their useful lives. Other intangible assets amortization expense was $1.3 million and $1.4 million for the three months ended March 31, 2019 and 2018, respectively.

The following table presents the estimated future amortization expense related to other intangible assets as of March 31, 2019:
Year
 
Amortization Expense
 
 
(Amounts in thousands)
Remainder of 2019
 
$
3,802

2020
 
922

2021
 
902

2022
 
878

2023
 
714

Thereafter
 
5,819

Total
 
$
13,037


9. Share-Based Compensation

In February 2015, the Company's Board of Directors adopted the 2015 Incentive Award Plan (the "2015 Plan"), replacing the 2005 Equity Incentive Plan which expired in January 2015. The 2015 Plan was approved at the Company's Annual Meeting of Shareholders in May 2015. A maximum of 4,900,000 shares of common stock are authorized for issuance under the 2015 Plan upon exercise of stock options, stock appreciation rights and other awards, or upon vesting of restricted stock unit ("RSU") or deferred stock awards. As of March 31, 2019, the Company had 70,000 stock options granted and outstanding and 4,830,000 shares of common stock available for future grant under the 2015 Plan.

Share-based compensation expenses for all stock options granted or modified are based on their estimated grant-date fair values. These compensation costs are recognized on a straight-line basis over the requisite service period of the award. The Company estimates forfeitures expected to occur in determining the amount of compensation cost to be recognized in each period. As of March 31, 2019, all outstanding stock options have a term of ten years from the date of grant and become exercisable in four equal installments on the first through fourth anniversaries of the grant date. The fair value of stock option awards is estimated using the Black-Scholes option pricing model with the grant-date assumptions and weighted-average fair values.

In February 2018, the Compensation Committee of the Company's Board of Directors awarded a total of 80,000 stock options to four senior executives under the 2015 Plan which will vest over the four-year requisite service period. 10,000 of these stock options were forfeited in February 2019 following the departure of a senior executive. The fair values of these stock options were estimated on the date of grant using a closed-form option valuation model (Black-Scholes).

The following table provides the assumptions used in the calculation of grant-date fair values of these stock options based on the Black-Scholes option pricing model:
Weighted-average grant-date fair value
$
8.09

Expected volatility
33.18
%
Risk-free interest rate
2.62
%
Expected dividend yield
5.40
%
Expected term in months
72


Expected volatilities are based on historical volatility of the Company’s stock over the term of the stock options. The Company estimated the expected term of stock options, which represents the period of time that stock options granted are expected to be outstanding, by using historical exercise patterns and post-vesting termination behavior. The risk-free interest rate is determined based on U.S. Treasury yields with equivalent remaining terms in effect at the time of the grant.
As of March 31, 2019, the Company had $0.4 million of unrecognized compensation expense related to stock options awarded under the 2015 Plan, which will be recognized ratably over the remaining vesting period of approximately 2.9 years.
The fair value of each RSU grant was determined based on the market price of the Company's common stock on the grant date for awards classified as equity and on each reporting date for awards classified as liability. The RSUs vested at the end of a three-year performance period beginning with the year of the grant, and then only if, and to the extent that, the Company’s

19


performance during the performance period achieved the threshold established by the Compensation Committee of the Company’s Board of Directors. Performance thresholds were based on the Company’s cumulative underwriting income, annual underwriting income, and net earned premium growth. Compensation cost was recognized based on management’s best estimate of the performance goals that would be achieved at the end of the performance period, taking into account expected forfeitures. If the minimum performance goals were not expected to be met, no compensation cost was recognized and any recognized compensation cost was reversed.

In February 2019, based on certification by the Compensation Committee of the Company's Board of Directors of the results of the three-year performance period ended December 31, 2018, all of the outstanding RSUs granted in 2016 expired unvested because the Company did not meet the minimum three-year performance threshold.

In March 2018, based on certification by the Compensation Committee of the Company's Board of Directors of the results of the three-year performance period ended December 31, 2017, all of the outstanding RSUs granted in 2015 expired unvested because the Company did not meet the minimum three-year performance threshold.
No RSUs or stock options were awarded during the three months ended March 31, 2019.
10. Income Taxes

For financial statement purposes, the Company recognizes tax benefits related to positions taken, or expected to be taken, on a tax return only if, the positions are “more-likely-than-not” sustainable. Once this threshold has been met, the Company’s measurement of its expected tax benefits is recognized in its consolidated financial statements.

There was a $71,000 increase to the total amount of unrecognized tax benefits related to tax uncertainties during the three months ended March 31, 2019. The increase was the result of tax positions taken regarding California state tax issues based on management’s best judgment given the facts, circumstances, and information available at the reporting date.

The Company and its subsidiaries file income tax returns with the Internal Revenue Service and the taxing authorities of various states. Tax years that remain subject to examination by major taxing jurisdictions are 2015 through 2017 for federal taxes and 2011 through 2017 for California state taxes. For tax years 2003 through 2010, the Company achieved a resolution with the Franchise Tax Board (“FTB”) in December 2017 and paid a negotiated settlement amount in accordance with the settlement agreement provided by the FTB and signed by the Company. The settlement agreement was approved and executed in the first quarter of 2019.

The Company is currently under examination for tax years 2011 through 2016. For tax years 2011 through 2013, the FTB issued Notices of Proposed Assessments ("NPAs") to the Company, for which the Company submitted a formal protest in 2018. If a reasonable settlement is not reached, the Company intends to pursue other options, including a formal hearing with the FTB, an appeal with the California Office of Tax Appeals, or litigation in Superior Court. For tax years 2014 through 2016, the FTB commenced its audit in December 2017 and has not yet completed its audit.

The Company believes that the resolution of these examinations and assessments will not have a material impact on the consolidated financial statements.

Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting basis and the respective tax basis of the Company’s assets and liabilities, and expected benefits of utilizing net operating loss, capital loss, and tax-credit carryforwards. The Company assesses the likelihood that its deferred tax assets will be realized and, to the extent management does not believe these assets are more likely than not to be realized, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or laws is recognized in earnings in the period that includes the enactment date.

At March 31, 2019, the Company’s deferred income taxes were in a net liability position, which included a combination of ordinary and capital deferred tax expenses or benefits. In assessing the Company’s ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon generating sufficient taxable income of the appropriate character within the carryback and carryforward periods available under the tax law. Management considers the reversal of deferred tax liabilities, projected future taxable income of an appropriate nature, and tax planning strategies in making this assessment. The Company believes that through the use of prudent tax planning strategies and the generation of capital gains, sufficient income will be realized

20


in order to maximize the full benefits of its deferred tax assets. Although realization is not assured, management believes that it is more likely than not that the Company’s deferred tax assets will be realized.

11. Loss and Loss Adjustment Expense Reserves

The following table presents the activity in loss and loss adjustment expense reserves:
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands)
Gross reserves at January 1 
$
1,829,412

 
$
1,510,613

Less reinsurance recoverables on unpaid losses
(180,859
)
 
(64,001
)
Net reserves at January 1
1,648,553

 
1,446,612

Incurred losses and loss adjustment expenses related to:
 
 
 
Current year
629,054

 
589,582

Prior years
1,362

 
42,652

Total incurred losses and loss adjustment expenses
630,416

 
632,234

Loss and loss adjustment expense payments related to:
 
 
 
Current year
274,273

 
254,841

Prior years
344,718

 
345,826

Total payments
618,991

 
600,667

Net reserves at March 31
1,659,978

 
1,478,179

Reinsurance recoverables on unpaid losses
127,634

 
52,794

Gross reserves at March 31
$
1,787,612

 
$
1,530,973


The increase in the provision for insured events of prior years in 2019 of approximately $1.4 million was primarily attributable to higher than estimated automobile losses, partially offset by lower than estimated California homeowners losses largely due to reductions in the Company's retained losses on the Camp and Woolsey Fires under the Treaty after accounting for the assignment of subrogation rights and re-estimation of reserves as part of normal reserving procedures, as described further below. The increase in the provision for insured events of prior years in 2018 of approximately $42.7 million was primarily attributable to higher than estimated California automobile losses resulting from severity in excess of expectations for bodily injury claims.

For the three months ended March 31, 2019 and 2018, the Company recorded catastrophe losses net of reinsurance of approximately $5 million and $9 million, respectively. Gross catastrophe losses due to the catastrophe events that occurred during the three months ended March 31, 2019 totaled approximately $11 million resulting primarily from winter storms in California, with no reinsurance benefits used for these losses. These losses were partially offset by favorable development of approximately $6 million on prior years' catastrophe losses, primarily from reductions in the Company’s retained portion of losses on the Camp and Woolsey Fires, as described above and below. The 2018 catastrophe losses were primarily due to winter storms and mudslides in California and winter storms in the states along the Atlantic Seaboard, with no reinsurance benefits used for these losses.

During the first quarter of 2019, the Company completed the sale of its subrogation rights related to the 2018 Camp and Woolsey Fires and the 2017 Thomas Fire (which was a component of the "2017 Southern California fires") to a third party. The Company’s reinsurers were the primary beneficiaries of this transaction, as they had absorbed most of the losses under the terms of the Treaty. The Company has re-estimated its gross and net losses from the 2018 Camp and Woolsey Fires and the 2017 Southern California fires. At March 31, 2019, the Company estimates that its total gross losses from these catastrophes, after accounting for the assignment of subrogation rights and adjustments made to claims reserves as part of normal reserving procedures, were approximately $208 million, and its total net losses, after reinsurance benefits, were approximately $40 million. The Company benefited by approximately $10 million, before taxes, in the first quarter of 2019 from the sale of the subrogation rights, including adjustments made to the associated claims as a result of normal reserving procedures, reductions in the Company's retained portion of losses on the Camp and Woolsey Fires, and reduced reinstatement premiums recognized.







21


12. Notes Payable

The following table presents information about the Company's notes payable:
 
 
Lender
 
Interest Rate
 
Maturity Date
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Senior unsecured notes(1)
 
Publicly traded
 
4.40%
 
March 15, 2027
 
$
375,000

 
$
375,000

Unsecured credit facility(2)
 
Bank of America and Wells Fargo Bank
 
LIBOR plus 112.5-162.5 basis points
 
March 29, 2022
 

 

    Total principal amount
 
 
 
 
 
 
 
375,000

 
375,000

Less unamortized discount and debt issuance costs(3)
 
 
 
 
 
 
 
3,166

 
3,266

Total debt
 
 
 
 
 
 
 
$
371,834

 
$
371,734

__________ 
(1) 
On March 8, 2017, the Company completed a public debt offering issuing $375 million of senior notes. The notes are unsecured, senior obligations of the Company with a 4.4% annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. These notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off amounts outstanding under the existing loan and credit facilities and for general corporate purposes. The Company incurred debt issuance costs of approximately $3.4 million, inclusive of underwriters' fees. The notes were issued at a slight discount of 99.847% of par, resulting in the effective annualized interest rate including debt issuance costs of approximately 4.45%.
(2) 
On March 29, 2017, the Company entered into an unsecured credit agreement that provides for revolving loans of up to $50 million and matures on March 29, 2022. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from LIBOR plus 112.5 basis points when the ratio is under 15% to LIBOR plus 162.5 basis points when the ratio is greater than or equal to 25%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 15% to 22.5 basis points when the ratio is greater than or equal to 25%. The debt to total capital ratio is expressed as a percentage of (a) consolidated debt to (b) consolidated shareholders' equity plus consolidated debt. The Company's debt to total capital ratio was 17.9% at March 31, 2019, resulting in a 15 basis point commitment fee on the $50 million undrawn portion of the credit facility. As of April 25, 2019, there have been no borrowings under this facility.
(3) 
The unamortized discount and debt issuance costs are associated with the publicly traded $375 million senior unsecured notes. These are amortized to interest expense over the life of the notes, and the unamortized balance is presented in the Company's consolidated balance sheets as a direct deduction from the carrying amount of the debt. The unamortized debt issuance cost of approximately $0.2 million associated with the $50 million five-year unsecured revolving credit facility maturing on March 29, 2022 is included in other assets in the Company's consolidated balance sheets and amortized to interest expense over the term of the credit facility.
13. Contingencies

The Company is, from time to time, named as a defendant in various lawsuits or regulatory actions incidental to its insurance business. The majority of lawsuits brought against the Company relate to insurance claims that arise in the normal course of business and are reserved for through the reserving process. For a discussion of the Company’s reserving methods, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

In March 2006, the California DOI issued an Amended Notice of Non-Compliance to a Notice of Non-Compliance originally issued in February 2004 (as amended, “2004 NNC”) alleging that the Company charged rates in violation of the California Insurance Code, willfully permitted its agents to charge broker fees in violation of California law, and willfully misrepresented the actual price insurance consumers could expect to pay for insurance by the amount of a fee charged by the consumer's insurance broker. The California DOI sought to impose a fine for each policy on which the Company allegedly permitted an agent to charge a broker fee, to impose a penalty for each policy on which the Company allegedly used a misleading advertisement, and to suspend certificates of authority for a period of one year. In January 2012, the administrative law judge bifurcated the 2004 NNC between (a) the California DOI’s order to show cause (the “OSC”), in which the California DOI asserts the false advertising allegations and accusation, and (b) the California DOI’s notice of noncompliance (the “NNC”), in which the California DOI asserts the unlawful rate allegations. In February 2012, the administrative law judge (“ALJ”) submitted a proposed decision dismissing the NNC, but the Commissioner rejected the ALJ’s proposed decision. The Company challenged the rejection in Los Angeles Superior Court in April 2012, and the Commissioner responded with a demurrer. Following a hearing, the Superior Court sustained the Commissioner’s demurrer, based on the Company’s failure to exhaust its administrative remedies, and the Company appealed.

22


The Court of Appeal affirmed the Superior Court's ruling that the Company was required to exhaust its administrative remedies, but expressly preserved for later appeal the legal basis for the ALJ’s dismissal: violation of the Company’s due process rights. Following an evidentiary hearing in April 2013, post-hearing briefs, and an unsuccessful mediation, the ALJ closed the evidentiary record on April 30, 2014. Although a proposed decision was to be submitted to the Commissioner on or before June 30, 2014, after which the Commissioner would have 100 days to accept, reject or modify the proposed decision, the proposed decision was not submitted until December 8, 2014. On January 7, 2015, the Commissioner adopted the ALJ’s proposed decision, which became the Commissioner’s adopted order (the "Order"). The decision and Order found that from the period July 1, 1996, through 2006, the Company’s "brokers" were actually operating as "de facto agents" and that the charging of "broker fees" by these producers constituted the charging of "premium" in excess of the Company's approved rates, and assessed a civil penalty in the amount of $27.6 million against the Company. On February 9, 2015, the Company filed a Writ of Administrative Mandamus and Complaint for Declaratory Relief (the “Writ”) in the Orange County Superior Court seeking, among other things, to require the Commissioner to vacate the Order, to stay the Order while the Superior Court action is pending, and to judicially declare as invalid the Commissioner’s interpretation of certain provisions of the California Insurance Code. Subsequent to the filing of the Writ, a consumer group petitioned and was granted the right to intervene in the Superior Court action. The Court did not order a stay, and the $27.6 million assessed penalty was paid in March 2015. The Company filed an amended Writ on September 11, 2015, adding an explicit request for a refund of the penalty, with interest.

On August 12, 2016, the Superior Court issued its ruling on the Writ, for the most part granting the relief sought by the Company. The Superior Court found that the Commissioner and the California DOI did commit due process violations, but declined to dismiss the case on those grounds. The Superior Court also agreed with the Company that the broker fees at issue were not premium, and that the penalties imposed by the Commissioner were improper, and therefore vacated the Order imposing the penalty. The Superior Court entered final judgment on November 17, 2016, issuing a writ requiring the Commissioner to refund the entire penalty amount within 120 days, plus prejudgment interest at the statutory rate of 7%. On January 12, 2017, the California DOI filed a notice of appeal of the Superior Court's judgment entered on November 17, 2016. While the appeal is still pending, the California DOI returned the entire penalty amount plus accrued interest, a total of $30.9 million, to the Company in June 2017 in order to avoid accruing further interest. Because the matter has been appealed, the Company has not yet recognized the $30.9 million as a gain in the consolidated statements of operations; instead, the Company recorded the $30.9 million plus interest earned, a total of approximately $31.8 million at March 31, 2019, in other liabilities in the consolidated balance sheets. The Company had filed a motion to dismiss the false advertising portion of the case based on the Superior Court's findings, but the ALJ denied that motion after the appeal was filed. The ALJ did, however, grant the Company's alternative request to stay further proceedings pending the final determination of the appeal. The Company has accrued a liability for the estimated cost to continue to defend itself in the false advertising OSC. Based upon its understanding of the facts and the California Insurance Code, the Company does not expect that the ultimate resolution of the false advertising OSC will be material to its financial position.

The Company establishes reserves for non-insurance claims related lawsuits, regulatory actions, and other contingencies when the Company believes a loss is probable and is able to estimate its potential exposure. For loss contingencies believed to be reasonably possible, the Company also discloses the nature of the loss contingency and an estimate of the possible loss, range of loss, or a statement that such an estimate cannot be made. While actual losses may differ from the amounts recorded and the ultimate outcome of the Company's pending actions is generally not yet determinable, the Company does not believe that the ultimate resolution of currently pending legal or regulatory proceedings, either individually or in the aggregate, will have a material adverse effect on its financial condition or cash flows.

In all cases, the Company vigorously defends itself unless a reasonable settlement appears appropriate. For a discussion of legal matters, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

14. Segment Information

The Company is primarily engaged in writing personal automobile insurance and provides related property and casualty insurance products to its customers through 14 subsidiaries in 11 states, principally in California.
The Company has one reportable business segment - the Property and Casualty business segment.
The Company’s Chief Operating Decision Maker evaluates operating results based on pre-tax underwriting results which is calculated as net premiums earned less (a) losses and loss adjustment expenses and (b) underwriting expenses (policy acquisition costs and other operating expenses).
Expenses are allocated based on certain assumptions that are primarily related to premiums and losses. The Company’s net investment income, net realized investment gains or losses, other income, and interest expense are excluded in evaluating pretax

23


underwriting profit. The Company does not allocate its assets, including investments, or income taxes in evaluating pre-tax underwriting profit.
Property and Casualty Lines
The Property and Casualty business segment offers several insurance products to the Company’s individual customers and small business customers. These insurance products are: private passenger automobile which is the Company’s primary business, and related insurance products such as homeowners, commercial automobile and commercial property. These related insurance products are primarily sold to the Company’s individual customers and small business customers, which increases retention of the Company’s private passenger automobile client base. The insurance products comprising the Property and Casualty business segment are sold through the same distribution channels, mainly through independent and 100% owned insurance agents, and go through a similar underwriting process.
Other Lines
The Other business segment represents net premiums written and earned from an operating segment that does not meet the quantitative thresholds required to be considered a reportable segment. This operating segment offers automobile mechanical protection warranties which are primarily sold through automobile dealerships and credit unions.
The following table presents the Company's operating results by reportable segment:
 
Three Months Ended March 31,
 
2019
 
2018
 
Property & Casualty
 
Other
 
Total
 
Property & Casualty
 
Other
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
(Amounts in millions)
Net premiums earned
$
863.1

 
$
7.1

 
$
870.2

 
$
800.3

 
$
7.8

 
$
808.1

Less:
 
 
 
 
 
 
 
 
 
 
 
Losses and loss adjustment expenses
626.8

 
3.6

 
630.4

 
628.3

 
3.9

 
632.2

Underwriting expenses
212.5

 
3.4

 
215.9

 
202.6

 
3.8

 
206.4

Underwriting gain (loss)
23.8

 
0.1

 
23.9

 
(30.6
)
 
0.1

 
(30.5
)
Investment income
 
 
 
 
34.2

 
 
 
 
 
31.5

Net realized investment gains (losses)
 
 
 
 
111.1

 
 
 
 
 
(58.7
)
Other income
 
 
 
 
2.3

 
 
 
 
 
2.3

Interest expense
 
 
 
 
(4.3
)
 
 
 
 
 
(4.3
)
Pre-tax income (loss)
 
 
 
 
$
167.2

 
 
 
 
 
$
(59.7
)
Net income (loss)
 
 
 
 
$
135.9

 
 
 
 
 
$
(42.6
)
    




















24


The following table presents the Company’s net premiums earned and direct premiums written by line of insurance business:
 
Three Months Ended March 31,
 
2019
 
2018
 
Property & Casualty
 
Other
 
Total
 
Property & Casualty
 
Other
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
(Amounts in millions)
Private passenger automobile
$
672.6

 
$

 
$
672.6

 
$
627.0

 
$

 
$
627.0

Homeowners
119.3

 

 
119.3

 
107.8

 

 
107.8

Commercial automobile
49.6

 

 
49.6

 
44.9

 

 
44.9

Other
21.6

 
7.1

 
28.7

 
20.6

 
7.8

 
28.4

Net premiums earned
$
863.1

 
$
7.1

 
$
870.2

 
$
800.3

 
$
7.8

 
$
808.1

 
 
 
 
 
 
 
 
 
 
 
 
Private passenger automobile
$
705.3

 
$

 
$
705.3

 
$
674.0

 
$

 
$
674.0

Homeowners
130.9

 

 
130.9

 
115.3

 

 
115.3

Commercial automobile
54.4

 

 
54.4

 
49.7

 

 
49.7

Other
24.7

 
6.8

 
31.5

 
23.6

 
6.4

 
30.0

Direct premiums written
$
915.3

 
$
6.8

 
$
922.1

 
$
862.6

 
$
6.4

 
$
869.0



25


Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Certain statements contained in this report are forward-looking statements based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. Actual results may differ from those projected in the forward-looking statements. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the Company) and are subject to change based upon various factors, including but not limited to the following risks and uncertainties: changes in the demand for the Company’s insurance products, inflation and general economic conditions, including general market risks associated with the Company’s investment portfolio; the accuracy and adequacy of the Company’s pricing methodologies; catastrophes in the markets served by the Company; uncertainties related to estimates, assumptions and projections generally; the possibility that actual loss experience may vary adversely from the actuarial estimates made to determine the Company’s loss reserves in general; the Company’s ability to obtain and the timing of the approval of premium rate changes for insurance policies issued in the states where it operates; legislation adverse to the automobile insurance industry or business generally that may be enacted in the states where the Company operates; the Company’s success in managing its business in non-California states; the presence of competitors with greater financial resources and the impact of competitive pricing and marketing efforts; the ability of the Company to successfully manage its claims organization outside of California; the Company's ability to successfully allocate the resources used in the states with reduced or exited operations to its operations in other states; changes in driving patterns and loss trends; acts of war and terrorist activities; court decisions and trends in litigation and health care and auto repair costs; and legal, cybersecurity, regulatory and litigation risks. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise. For a more detailed discussion of some of the foregoing risks and uncertainties, see the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 13, 2019.
OVERVIEW
A. General

The operating results of property and casualty insurance companies are subject to significant quarter-to-quarter and year-to-year fluctuations due to the effect of competition on pricing, the frequency and severity of losses, the effect of weather and natural disasters on losses, general economic conditions, the general regulatory environment in states in which an insurer operates, state regulation of insurance including premium rates, changes in fair value of investments, and other factors such as changes in tax laws. The property and casualty insurance industry has been highly cyclical, with periods of high premium rates and shortages of underwriting capacity followed by periods of severe price competition and excess capacity. These cycles can have a significant impact on the Company’s ability to grow and retain business.
This section discusses some of the relevant factors that management considers in evaluating the Company’s performance, prospects, and risks. It is not all-inclusive and is meant to be read in conjunction with the entirety of management’s discussion and analysis, the Company’s consolidated financial statements and notes thereto, and all other items contained within this Quarterly Report on Form 10-Q.

B. Business
The Company is primarily engaged in writing personal automobile insurance through 14 insurance subsidiaries (“Insurance Companies”) in 11 states, principally California. The Company also writes homeowners, commercial automobile, commercial property, mechanical protection, and umbrella insurance. The Company's insurance policies are mostly sold through independent agents who receive a commission for selling policies. The Company believes that it has thorough underwriting and claims handling processes that, together with its agent relationships, provide the Company with competitive advantages.





26


The following tables present direct premiums written, by state and line of insurance business, for the three months ended March 31, 2019 and 2018:

 
Three Months Ended March 31, 2019
 
(Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
Private
Passenger  Automobile
 
Homeowners
 
Commercial
Automobile
 
Other Lines
 
Total
 
 
California
$
616,065

 
$
114,534

 
$
33,509

 
$
28,762

 
$
792,870

 
86.0
%
Other states (1)
89,262

 
16,379

 
20,854

 
2,726

 
129,221

 
14.0
%
Total
$
705,327

 
$
130,913

 
$
54,363

 
$
31,488

 
$
922,091

 
100.0
%
 
76.5
%
 
14.2
%
 
5.9
%
 
3.4
%
 
100.0
%
 
 

 
Three Months Ended March 31, 2018
 
(Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
Private
Passenger  Automobile
 
Homeowners
 
Commercial
Automobile
 
Other Lines
 
Total
 
 
California
$
582,144

 
$
101,083

 
$
28,854

 
$
27,751

 
$
739,832

 
85.1
%
Florida
34,642

 
1

 
4,374

 
79

 
39,096

 
4.5
%
Other states (1)
57,204

 
14,214

 
16,517

 
2,152

 
90,087

 
10.4
%
Total
$
673,990

 
$
115,298

 
$
49,745

 
$
29,982

 
$
869,015

 
100.0
%
 
77.5
%
 
13.3
%
 
5.7
%
 
3.5
%
 
100.0
%
 
 
______________
(1)
No individual state accounted for more than 4% of total direct premiums written.

C. Regulatory and Legal Matters

The Department of Insurance (“DOI”) in each state in which the Company operates is responsible for conducting periodic financial, market conduct, and rating and underwriting examinations of the Insurance Companies in their states. Market conduct examinations typically review compliance with insurance statutes and regulations with respect to rating, underwriting, claims handling, billing, and other practices.

The following table presents a summary of recent examinations:
State
  
Exam Type
  
Period Under Review
  
Status
CA,FL,GA,IL,OK,TX
 
Coordinated Multi-state Financial
 
2014 to 2017
 
Fieldwork began in the second quarter of 2018.
CA
 
Rating and Underwriting
 
2014
 
Fieldwork is completed. Awaiting draft report.

During the course of and at the conclusion of these examinations, the examining DOI generally reports findings to the Company. None of the findings reported to date are expected to be material to the Company’s financial position.

In March 2019, the California DOI approved a 6.9% rate increase on the private passenger automobile line of insurance business in Mercury Insurance Company (“MIC”), which represented approximately 54% of the Company's total net premiums earned for the three months ended March 31, 2019. The Company expects to implement this rate increase in May 2019.

In January 2019, the California DOI approved a 6.9% rate increase on the private passenger automobile line of insurance business in California Automobile Insurance Company, which represented approximately 12% of the Company's total net premiums earned for the three months ended March 31, 2019. The Company implemented this rate increase in March 2019.

The Company is, from time to time, named as a defendant in various lawsuits or regulatory actions incidental to its insurance business. The majority of lawsuits brought against the Company relate to insurance claims that arise in the normal course of business and are reserved for through the reserving process. For a discussion of the Company’s reserving methods, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.


27


The Company establishes reserves for non-insurance claims related lawsuits, regulatory actions, and other contingencies when the Company believes a loss is probable and is able to estimate its potential exposure. For loss contingencies believed to be reasonably possible, the Company also discloses the nature of the loss contingency and an estimate of the possible loss, range of loss, or a statement that such an estimate cannot be made. While actual losses may differ from the amounts recorded and the ultimate outcome of the Company's pending actions is generally not yet determinable, the Company does not believe that the ultimate resolution of currently pending legal or regulatory proceedings, either individually or in the aggregate, will have a material adverse effect on its financial condition or cash flows.

In all cases, the Company vigorously defends itself unless a reasonable settlement appears appropriate. For a discussion of legal matters, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, and Note 13. Contingencies of the Notes to Consolidated Financial Statements of this Quarterly Report.
D. Critical Accounting Policies and Estimates

Loss and Loss Adjustment Expense Reserves ("Loss Reserves")

Preparation of the Company’s consolidated financial statements requires management’s judgment and estimates. The most significant is the estimate of loss reserves. Estimating loss reserves is a difficult process as many factors can ultimately affect the final settlement of a claim and, therefore, the loss reserve that is required. A key assumption in estimating loss reserves is the degree to which the historical data used to analyze reserves will be predictive of ultimate claim costs on incurred claims. Changes in the regulatory and legal environments, results of litigation, medical costs, the cost of repair materials, and labor rates, among other factors, can impact this assumption. In addition, time can be a critical part of reserving determinations since the longer the span between the incidence of a loss and the payment or settlement of a claim, the more variable the ultimate settlement amount could be. Accordingly, short-tail claims, such as property damage claims, tend to be more reasonably predictable than long-tail liability claims.

The Company calculates a loss reserve point estimate rather than a range. There is inherent uncertainty with estimates and this is particularly true with loss reserve estimates. This uncertainty comes from many factors which may include changes in claims reporting and settlement patterns, changes in the regulatory and legal environments, uncertainty over inflation rates, and uncertainty for unknown items. The Company does not make specific provisions for these uncertainties, rather it considers them in establishing its loss reserve by reviewing historical patterns and trends and projecting these out to current loss reserves. The underlying factors and assumptions that serve as the basis for preparing the loss reserve estimate include paid and incurred loss development factors, expected average costs per claim, inflation trends, expected loss ratios, industry data, and other relevant information.

The Company also engages independent actuarial consultants to review the Company’s loss reserves and to provide the annual actuarial opinions under statutory accounting principles as required by state regulation. The Company analyzes loss reserves quarterly primarily using the incurred loss, paid loss, average severity coupled with the claim count development methods, and the generalized linear model ("GLM") described below. When deciding among methods to use, the Company evaluates the credibility of each method based on the maturity of the data available and the claims settlement practices for each particular line of insurance business or coverage within a line of insurance business. The Company may also evaluate qualitative factors such as known changes in laws or legal rulings that could affect claims handling or other external environmental factors or internal factors that could affect the settlement of claims. When establishing the loss reserve, the Company will generally analyze the results from all of the methods used rather than relying on a single method. While these methods are designed to determine the ultimate losses on claims under the Company’s policies, there is inherent uncertainty in all actuarial models since they use historical data to project outcomes. The Company believes that the techniques it uses provide a reasonable basis in estimating loss reserves.

The incurred loss method analyzes historical incurred case loss (case reserves plus paid losses) development to estimate ultimate losses. The Company applies development factors against current case incurred losses by accident period to calculate ultimate expected losses. The Company believes that the incurred loss method provides a reasonable basis for evaluating ultimate losses, particularly in the Company’s larger, more established lines of insurance business which have a long operating history.
The paid loss method analyzes historical payment patterns to estimate the amount of losses yet to be paid.
The average severity method analyzes historical loss payments and/or incurred losses divided by closed claims and/or total claims to calculate an estimated average cost per claim. From this, the expected ultimate average cost per claim can be estimated. The average severity method coupled with the claim count development method provide meaningful information regarding inflation and frequency trends that the Company believes is useful in establishing loss reserves. The claim count development method analyzes historical claim count development to estimate future incurred claim count

28


development for current claims. The Company applies these development factors against current claim counts by accident period to calculate ultimate expected claim counts.
The GLM determines an average severity for each percentile of claims that have been closed as a percentage of estimated ultimate claims. The average severities are applied to open claims to estimate the amount of losses yet to be paid. The GLM utilizes operational time, determined as a percentile of claims closed rather than a finite calendar period, which neutralizes the effect of changes in the timing of claims handling.

The Company analyzes catastrophe losses separately from non-catastrophe losses. For catastrophe losses, the Company generally determines claim counts based on claims reported and development expectations from previous catastrophes and applies an average expected loss per claim based on loss reserves established by adjusters and average losses on previous similar catastrophes. For catastrophe losses on individual properties that are expected to be total losses, the Company typically establishes reserves at the policy limits.
At March 31, 2019 and December 31, 2018, the Company recorded its point estimate of approximately $1.79 billion and $1.83 billion ($1.66 billion and $1.65 billion, net of reinsurance), respectively, in loss reserves, which included approximately $773.9 million and $822.9 million ($741.4 million and $751.3 million, net of reinsurance), respectively, of incurred but not reported loss reserves (“IBNR”). IBNR includes estimates, based upon past experience, of ultimate developed costs, which may differ from case estimates, unreported claims that occurred on or prior to March 31, 2019 and December 31, 2018, and estimated future payments for reopened claims. Management believes that the liability for loss reserves is adequate to cover the ultimate net cost of losses and loss adjustment expenses incurred to date; however, since the provisions are necessarily based upon estimates, the ultimate liability may be more or less than such provisions.
The Company evaluates its loss reserves quarterly. When management determines that the estimated ultimate claim cost requires a decrease for previously reported accident years, favorable development occurs and a reduction in losses and loss adjustment expenses is reported in the current period. If the estimated ultimate claim cost requires an increase for previously reported accident years, unfavorable development occurs and an increase in losses and loss adjustment expenses is reported in the current period.
For a further discussion of the Company’s reserving methods, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

Investments

The Company’s fixed maturity and equity securities are classified as “trading” and carried at fair value as required when applying the fair value option, with changes in fair value reflected in net realized investment gains or losses in the consolidated statements of operations. The majority of equity holdings, including non-redeemable preferred stocks, are actively traded on national exchanges or trading markets, and are valued at the last transaction price on the balance sheet date.

Fair Value of Financial Instruments

Financial instruments recorded in the consolidated balance sheets include investments, note receivable, other receivables, total return swap, accounts payable, options sold, and unsecured notes payable. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Due to their short-term maturity, the carrying values of other receivables and accounts payable approximate their fair values. All investments are carried on the consolidated balance sheets at fair value, as described in Note 3. Financial Instruments of the Notes to Consolidated Financial Statements.
The Company’s financial instruments include securities issued by the U.S. government and its agencies, securities issued by states and municipal governments and agencies, certain corporate and other debt securities, equity securities, and exchange traded funds. At March 31, 2019, 98.3% of the fair value of these financial instruments is based on observable market prices, observable market parameters, or is derived from such prices or parameters. The availability of observable market prices and pricing parameters can vary by financial instrument. Observable market prices and pricing parameters of a financial instrument, or a related financial instrument, are used to derive a price without requiring significant judgment.
The Company may hold or acquire financial instruments that lack observable market prices or market parameters because they are less actively traded currently or in future periods. The fair value of such instruments is determined using techniques appropriate for each particular financial instrument. These techniques may involve some degree of judgment. The price transparency of the particular financial instrument will determine the degree of judgment involved in determining the fair value of the Company’s financial instruments. Price transparency is affected by a wide variety of factors, including the type of financial instrument, whether

29


it is a new financial instrument and not yet established in the marketplace, and the characteristics particular to the transaction. Financial instruments for which actively quoted prices or pricing parameters are available or for which fair value is derived from actively quoted prices or pricing parameters will generally have a higher degree of price transparency. By contrast, financial instruments that are thinly traded or not quoted will generally have diminished price transparency. Even in normally active markets, the price transparency for actively quoted instruments may be reduced during periods of market dislocation. Alternatively, in thinly quoted markets, the participation of market makers willing to purchase and sell a financial instrument provides a source of transparency for products that otherwise are not actively quoted.
Income Taxes

At March 31, 2019, the Company’s deferred income taxes were in a net liability position mainly due to deferred tax liabilities generated by unrealized gains on securities held and deferred acquisition costs. These deferred tax liabilities were substantially offset by deferred tax assets resulting from unearned premiums, loss reserve discounting, and expense accruals. The Company assesses the likelihood that its deferred tax assets will be realized and, to the extent management does not believe these assets are more likely than not to be realized, a valuation allowance is established. Management’s recoverability assessment of the Company’s deferred tax assets which are ordinary in character takes into consideration the Company’s strong history of generating ordinary taxable income and a reasonable expectation that it will continue to generate ordinary taxable income in the future. Further, the Company has the capacity to recoup its ordinary deferred tax assets through tax loss carryback claims for taxes paid in prior years. Finally, the Company has various deferred tax liabilities that represent sources of future ordinary taxable income.
Management’s recoverability assessment with regard to its capital deferred tax assets is based on estimates of anticipated capital gains, tax-planning strategies available to generate future taxable capital gains, and the Company’s capacity to absorb capital losses carried back to prior years, each of which would contribute to the realization of deferred tax benefits. The Company has significant unrealized gains in its investment portfolio that could be realized through asset dispositions, at management’s discretion. In addition, the Company expects to hold certain debt securities, which are currently in loss positions, to recovery or maturity. Management believes unrealized losses related to these debt securities, which represent a portion of the unrealized loss positions at period-end, are fully realizable at maturity. Management believes its long-term time horizon for holding these securities allows it to avoid any forced sales prior to maturity. Further, the Company has the capability to generate additional realized capital gains by entering into sale-leaseback transactions using one or more of its appreciated real estate holdings. Finally, the Company has the capacity to recoup capital deferred tax assets through tax capital loss carryback claims for taxes paid within permitted carryback periods.
The Company has the capability to implement tax planning strategies as it has a steady history of generating positive cash flows from operations and believes that its liquidity needs can be met in future periods without the forced sale of its investments. This capability assists management in controlling the timing and amount of realized losses generated during future periods. By prudent utilization of some or all of these strategies, management has the intent and believes that it has the ability to generate capital gains and minimize tax losses in a manner sufficient to avoid losing the benefits of its deferred tax assets. Management will continue to assess the need for a valuation allowance on a quarterly basis. Although realization is not assured, management believes it is more likely than not that the Company’s deferred tax assets will be realized.

The enactment of the Tax Cuts and Jobs Act of 2017 (the "Act") on December 22, 2017, which was effective for tax years beginning January 1, 2018, has impacted and will likely further impact the Company's business and investment strategies as well as financial results. There are complex factors at play, including the effect of insurance regulation and competition, which may require the tax benefits due to the reduction in the corporate tax rate to be passed on to consumers, and changing dynamics in the capital markets, which have caused and may further cause a shift in the Company’s allocation between taxable and tax-exempt investments.

The Company’s effective income tax rate can be affected by several factors. These generally include large changes in fully-taxable income including net realized investment gains or losses, tax-exempt investment income, non-deductible expenses, and periodically, non-routine tax items such as adjustments to unrecognized tax benefits related to tax uncertainties. The effective tax rate for the thee months ended March 31, 2019 was 18.7%, compared to 28.6% for the same period in 2018. Tax-exempt investment income coupled with pre-tax income lowered the effective tax rate for the three months ended March 31, 2019 relative to the statutory tax rate of 21%, while tax-exempt investment income coupled with pre-tax loss increased the effective tax rate for the same period in 2018.

Contingent Liabilities

The Company has known, and may have unknown, potential liabilities which include claims, assessments, lawsuits, or regulatory fines and penalties relating to the Company’s business. The Company continually evaluates these potential liabilities

30


and accrues for them and/or discloses them in the notes to the consolidated financial statements where required. The Company does not believe that the ultimate resolution of currently pending legal or regulatory proceedings, either individually or in the aggregate, will have a material adverse effect on its financial condition, results of operations, or cash flows. See "Regulatory and Legal Matters" above and Note 13. Contingencies of the Notes to Consolidated Financial Statements.
Premiums
The Company’s insurance premiums are recognized as income ratably over the term of the policies and in proportion to the amount of insurance protection provided. Unearned premiums are carried as a liability on the consolidated balance sheets and are computed monthly on a pro-rata basis. The Company evaluates its unearned premiums periodically for premium deficiencies by comparing the sum of expected claim costs, unamortized acquisition costs, and maintenance costs partially offset by investment income to related unearned premiums. To the extent that any of the Company’s lines of insurance business become unprofitable, a premium deficiency reserve may be required.


RESULTS OF OPERATIONS
Three Months Ended March 31, 2019 Compared to Three Months Ended March 31, 2018
Revenues

Net premiums earned and net premiums written for the three months ended March 31, 2019 increased 7.7% and 6.4%, respectively, from the corresponding period in 2018. The increase in net premiums earned and net premiums written was primarily due to higher average premiums per policy arising from rate increases in the California private passenger automobile line of insurance business and growth in the number of homeowners policies written in California.

The Company, which predominantly offers six-month personal automobile insurance policies, reintroduced twelve-month personal automobile policies for new business in MIC, its largest insurance subsidiary, in March 2018. Twelve-month policies are generally sold for twice the price of six-month policies. MIC's net premiums written from twelve-month policies for the three months ended March 31, 2019 and 2018 was approximately $76 million and $31 million, respectively.

Net premiums earned included ceded premiums earned of $14.6 million and $12.6 million for the three months ended March 31, 2019 and 2018, respectively. Net premiums written included ceded premiums written of $5.9 million and $7.8 million for the three months ended March 31, 2019 and 2018, respectively. The increase in ceded premiums earned for the three months ended March 31, 2019 compared to the same period in 2018 resulted mostly from an increase in reinsurance rates, growth in the covered book of business, and an increase in reinstatement premiums following the Camp and Woolsey Fires in the fourth quarter of 2018 that caused higher losses than the wildfires in the fourth quarter of 2017. The decrease in ceded premiums written for the three months ended March 31, 2019 compared to the same period in 2018 was largely due to reductions in the estimated total losses and reinsurance benefits for the Camp and Woolsey Fires during the first quarter of 2019, which correspondingly lowered the reinstatement premiums previously ceded, as described further in Note 11. Loss and Loss Adjustment Expense Reserves of the Notes to Consolidated Financial Statements.

Net premiums earned, a GAAP measure, represents the portion of net premiums written that is recognized as revenue in the financial statements for the periods presented and earned on a pro-rata basis over the term of the policies. Net premiums written is a non-GAAP financial measure which represents the premiums charged on policies issued during a fiscal period less any applicable reinsurance. Net premiums written is a statutory measure designed to determine production levels.

The following is a reconciliation of net premiums earned to net premiums written:
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands)
Net premiums earned
$
870,245

 
$
808,084

Change in net unearned premium
46,203

 
53,183

Net premiums written
$
916,448

 
$
861,267




31


Expenses

Loss and expense ratios are used to interpret the underwriting experience of property and casualty insurance companies. The following table presents the Insurance Companies’ loss, expense, and combined ratios determined in accordance with GAAP:
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
Loss ratio
72.4
%
 
78.2
%
Expense ratio
24.8
%
 
25.5
%
Combined ratio (1)
97.3
%

103.8
%
__________ 
(1)    Combined ratios for the three months ended March 31, 2019 and 2018 do not sum due to rounding.

Loss ratio is calculated by dividing losses and loss adjustment expenses by net premiums earned. The Company's loss ratio was affected by unfavorable development of approximately $1 million and $43 million on prior accident years' loss reserves for the first quarter of 2019 and 2018, respectively. The majority of the unfavorable development in the first quarter of 2019 was attributable to higher than estimated automobile losses, partially offset by lower than estimated California homeowners losses largely due to reductions in the Company's retained losses on the Camp and Woolsey Fires under the catastrophe reinsurance treaty after accounting for the assignment of subrogation rights and re-estimation of reserves as part of normal reserving procedures, as described further in Note 11. Loss and Loss Adjustment Expense Reserves of the Notes to Consolidated Financial Statements. The majority of the unfavorable development in the first quarter of 2018 was attributable to higher than estimated California automobile losses resulting from severity in excess of expectations for bodily injury claims. In addition, the 2019 loss ratio was negatively impacted by approximately $5 million of catastrophe losses, net of reinsurance benefits, primarily due to winter storms in California, partially offset by favorable development of approximately $6 million on prior years' catastrophe losses, primarily from reductions in the Company’s retained portion of losses on the Camp and Woolsey Fires, as described above. The 2018 loss ratio was negatively impacted by approximately $9 million of catastrophe losses, primarily due to winter storms and mudslides in California and winter storms in the states along the Atlantic Seaboard. Excluding the effect of estimated prior accident years' loss development and catastrophe losses, the loss ratio was 71.7% and 71.8% for the three months ended March 31, 2019 and 2018, respectively. The slight decrease in the loss ratio primarily resulted from premium rate increases on automobile insurance policies, partially offset by higher loss severity.

Expense ratio is calculated by dividing the sum of policy acquisition costs and other operating expenses by net premiums earned. The expense ratio for the three months ended March 31, 2019 decreased compared to the same period in 2018, largely because growth in net premiums earned outpaced the increase in policy acquisition costs and other operating expenses.
Combined ratio is equal to loss ratio plus expense ratio and is the key measure of underwriting performance traditionally used in the property and casualty insurance industry. A combined ratio under 100% generally reflects profitable underwriting results, and a combined ratio over 100% generally reflects unprofitable underwriting results.
Income tax expense (benefit) was $31.3 million and $(17.1) million for the three months ended March 31, 2019 and 2018, respectively. The $48.4 million increase in income tax expense was primarily due to an increase in fully taxable income. Tax-exempt investment income, a component of total pre-tax income, remained relatively unchanged compared to the same period in 2018.
















32


Investments

The following table presents the investment results of the Company:
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Dollars in thousands)
Average invested assets at cost (1)
$
3,888,592

 
$
3,629,913

Net investment income (2)
 
 
 
Before income taxes
$
34,174

 
$
31,510

After income taxes
$
30,254

 
$
28,396

Average annual yield on investments
 
 
 
Before income taxes
3.5
%
 
3.5
%
After income taxes
3.1
%
 
3.1
%
Net realized investment gains (losses)
$
111,074

 
$
(58,735
)
__________ 
(1)  
Fixed maturities and short-term bonds at amortized cost; equities and other short-term investments at cost. Average invested assets at cost are based on the monthly amortized cost of the invested assets for each period.
(2) 
Net investment income before and after income taxes increased largely due to higher average invested assets.

The following tables present the components of net realized investment gains (losses) included in net income:
 
Three Months Ended March 31, 2019
 
Gains (Losses) Recognized in Net Income
 
Sales
 
Changes in fair value 
 
Total
 
 
 
 
 
 
 
(Amounts in thousands)
Net realized investment gains (losses) 
 
 
 
 
 
Fixed maturity securities (1)(2)
$
(100
)
 
$
49,775

 
$
49,675

Equity securities (1)(3)
5,250

 
53,687

 
58,937

Short-term investments (1)
(942
)
 
734

 
(208
)
Note receivable (1)

 
31

 
31

Total return swap
(772
)
 
2,538

 
1,766

Options sold
854

 
19

 
873

Total
$
4,290

 
$
106,784

 
$
111,074

 
Three Months Ended March 31, 2018
 
Gains (Losses) Recognized in Net Income
 
Sales
 
Changes in fair value
 
Total
 
 
 
 
 
 
 
(Amounts in thousands)
Net realized investment gains (losses)
 
 
 
 
 
Fixed maturity securities (1)(2)
$
(587
)
 
$
(46,213
)
 
$
(46,800
)
Equity securities (1)(3)
(3,128
)
 
(11,886
)
 
(15,014
)
Short-term investments (1)
(12
)
 
(392
)
 
(404
)
Note receivable (1)

 
(41
)
 
(41
)
Total return swaps
203

 
399

 
602

Options sold
2,361

 
561

 
2,922

Total
$
(1,163
)
 
$
(57,572
)
 
$
(58,735
)
__________ 
(1) 
The changes in fair value of the investment portfolio and note receivable resulted from the application of the fair value option.

33


(2) 
The increase in fair value of fixed maturity securities for the first quarter of 2019 was primarily due to decreases in market interest rates. The decrease in fair value of fixed maturity securities for the first quarter of 2018 was primarily due to increases in market interest rates.
(3) 
The primary cause for the increase in fair value of equity securities for the first quarter of 2019 was overall improvement in equity markets, and the main cause for the decrease for the first quarter of 2018 was overall decline in equity markets.


Net Income

 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands, except per share data)
Net income (loss)
$
135,867

 
$
(42,607
)
Basic average shares outstanding
55,341

 
55,332

Diluted average shares outstanding
55,348

 
55,332

Basic Per Share Data:
 
 
 
Net income (loss)
$
2.46

 
$
(0.77
)
Net realized investment gains (losses), net of tax
$
1.59

 
$
(0.84
)
Diluted Per Share Data:
 
 
 
Net income (loss)
$
2.45

 
$
(0.77
)
Net realized investment gains (losses), net of tax
$
1.58

 
$
(0.84
)



LIQUIDITY AND CAPITAL RESOURCES

A. Cash Flows

The Company has generated positive cash flow from operations since the public offering of its common stock in November 1985. The Company does not attempt to match the duration and timing of asset maturities with those of liabilities; rather, it manages its portfolio with a view towards maximizing total return with an emphasis on after-tax income. With combined cash and short-term investments of $637.5 million at March 31, 2019 as well as $50 million of credit available on a $50 million revolving credit facility, the Company believes its cash flow from operations is adequate to satisfy its liquidity requirements without the forced sale of investments. Investment maturities are also available to meet the Company’s liquidity needs. However, the Company operates in a rapidly evolving and often unpredictable business environment that may change the timing or amount of expected future cash receipts and expenditures. Accordingly, there can be no assurance that the Company’s sources of funds will be sufficient to meet its liquidity needs or that the Company will not be required to raise additional funds to meet those needs or for future business expansion, through the sale of equity or debt securities or from credit facilities with lending institutions.

Net cash provided by operating activities for the three months ended March 31, 2019 was $174.7 million, an increase of $96.3 million compared to the corresponding period in 2018. The increase was primarily due to an increase in premium collections, partially offset by higher paid losses and loss adjustment expenses and operating expenses. The Company utilized the cash provided by operating activities during the three months ended March 31, 2019 primarily for the payment of dividends to its shareholders and net purchases of investment securities.


34


The following table presents the estimated fair value of fixed maturity securities at March 31, 2019 by contractual maturity in the next five years:
 
Fixed Maturity Securities
 
(Amounts in thousands)
Due in one year or less
$
107,085

Due after one year through two years
90,566

Due after two years through three years
126,641

Due after three years through four years
118,696

Due after four years through five years
87,110

Total due within five years
$
530,098

B. Reinsurance
For California homeowners policies, the Company has reduced its catastrophe exposure from earthquakes by placing earthquake risks directly with the California Earthquake Authority ("CEA"). However, the Company continues to have catastrophe exposure to fires following an earthquake.

The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2019. For the 12 months ending June 30, 2019 and 2018, the Treaty provides $205 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $10 million Company retention limit. The first $190 million of losses above the Company's $10 million retention are covered 100% by the reinsurers. Losses above $200 million are shared pro-rata with 5% coverage by the reinsurers and 95% retention by the Company, up to $15 million total coverage provided by the reinsurers. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake. The annual premium for the Treaty is approximately $22 million for the 12 months ending June 30, 2019, as compared to $19 million for the 12 months ended June 30, 2018. The increase in the annual premium is primarily due to an increase in reinsurance rates and growth in the Company's homeowners insurance book of business covered by the Treaty. In addition to the annual premium, the Treaty is subject to reinstatement premiums based on the amount of reinsurance benefits paid to the Company, up to the maximum reinstatement premium of approximately $22 million and $19 million if the full amount of benefit is used for the 12 months ending June 30, 2019 and 2018, respectively. The total amount of reinstatement premiums is recorded as ceded reinstatement premiums written at the time of the catastrophe event based on the total amount of reinsurance benefits expected to be used for the event, and such reinstatement premiums are recognized ratably over the remaining term of the Treaty as ceded reinstatement premiums earned.

Two major catastrophe events that occurred in the fourth quarter of 2018, the Camp Fire in Northern California and the Woolsey Fire in Southern California, caused approximately $146 million and $41 million as of March 31, 2019, respectively, in losses to the Company, before reinsurance benefits. The combined loss to the Company from these two events, net of reinsurance benefits, totaled approximately $30 million, after accounting for the sale of subrogation rights to a third party (See Note 11. Loss and Loss Adjustment Expense Reserves of the Notes to Consolidated Financial Statements above for more information on the sale), representing $20 million for the Company's initial reinsurance retention for the two catastrophe events, $10 million for each event, and approximately $10 million Company retention from the first layer of reinstated reinsurance limit previously used up. The Company recorded a total of approximately $15 million in ceded reinstatement premiums written and approximately $9 million in ceded reinstatement premiums earned for reinstatement of the reinsurance benefits used under the Treaty related to these two catastrophe events.

The Company has incurred a total of approximately $21 million in losses as of March 31, 2019, before reinsurance benefits, resulting from a destructive wildfire, known as the Carr Fire, that occurred in Shasta County of Northern California in the third quarter of 2018. The loss to the Company, net of reinsurance benefits, was approximately $10 million, most of which is the Company's retention on the catastrophe event. The Company recorded approximately $3 million in ceded reinstatement premiums written and approximately $2 million in ceded reinstatement premiums earned for reinstatement of the reinsurance benefits used under the Treaty related to this catastrophe event.

As a result of reinsurance benefits used for the catastrophes described above under the Treaty ending June 30, 2019, the Company has exhausted the reinstated limit on the first layer ($30 million limit in excess of $10 million retention) of the Treaty, and a second reinstatement is not available under the current terms of the Treaty. Should there be another major catastrophe event within the Treaty period ending June 30, 2019, the Company would retain the first $10 million of losses, retain the following $30 million of losses reflecting that the reinstated first layer limit has been used up, and have available $60 million in reinsurance coverage for losses above $40 million up to $100 million, 100% reinsurance coverage for losses above $100 million up to $200

35


million and 5% reinsurance coverage for losses above $200 million up to $500 million.

The Company carries a commercial umbrella reinsurance treaty and seeks facultative arrangements for large property risks. In addition, the Company has other reinsurance in force that is not material to the consolidated financial statements. If any reinsurers are unable to perform their obligations under a reinsurance treaty, the Company will be required, as primary insurer, to discharge all obligations to its policyholders in their entirety.
C. Invested Assets

Portfolio Composition

An important component of the Company’s financial results is the return on its investment portfolio. The Company’s investment strategy emphasizes safety of principal and consistent income generation, within a total return framework. The investment strategy has historically focused on maximizing after-tax yield with a primary emphasis on maintaining a well-diversified, investment grade, fixed income portfolio to support the underlying liabilities and achieve return on capital and profitable growth. The Company believes that investment yield is maximized by selecting assets that perform favorably on a long-term basis and by disposing of certain assets to enhance after-tax yield and minimize the potential effect of downgrades and defaults. The Company believes that this strategy enables the optimal investment performance necessary to sustain investment income over time. The Company’s portfolio management approach utilizes a market risk and consistent asset allocation strategy as the primary basis for the allocation of interest sensitive, liquid and credit assets as well as for determining overall below investment grade exposure and diversification requirements. Within the ranges set by the asset allocation strategy, tactical investment decisions are made in consideration of prevailing market conditions.
The following table presents the composition of the total investment portfolio of the Company at March 31, 2019:
 
Cost (1)
 
Fair Value
 
 
 
 
 
(Amounts in thousands)
Fixed maturity securities:
 
 
 
U.S. government bonds
$
23,821

 
$
23,786

Municipal securities
2,628,281

 
2,695,108

Mortgage-backed securities
28,033

 
28,438

Corporate securities
117,653

 
118,024

Collateralized loan obligations
175,401

 
172,963

Other asset-backed securities
38,790

 
39,054

 
3,011,979

 
3,077,373

Equity securities:
 
 
 
Common stock
472,028

 
513,908

Non-redeemable preferred stock
34,429

 
33,739

Private equity fund
1,137

 
1,213

Private equity fund measured at net asset value (2)
69,669

 
67,640

 
577,263

 
616,500

Short-term investments
367,837

 
367,351

Total investments
$
3,957,079

 
$
4,061,224

______________
(1) 
Fixed maturities and short-term bonds at amortized cost; equities and other short-term investments at cost.
(2) 
The fair value is measured using the NAV practical expedient. See Note 5. Fair Value Measurements of the Notes to Consolidated Financial Statements for additional information.
At March 31, 2019, 64.9% of the Company’s total investment portfolio at fair value and 85.7% of its total fixed maturity securities at fair value were invested in tax-exempt state and municipal bonds. Equity holdings consist of non-redeemable preferred stocks, dividend-bearing common stocks on which dividend income is partially tax-sheltered by the 50% corporate dividend received deduction, and private equity funds including a fund measured at net asset value. At March 31, 2019, 85.7% of short-term investments consisted of highly rated short-duration securities redeemable on a daily or weekly basis.




36


Fixed Maturity Securities and Short-Term Investments

Fixed maturity securities include debt securities, which are mostly long-term bonds and other debt with maturities of at least one year from purchase, and which may have fixed or variable principal payment schedules, may be held for indefinite periods of time, and may be used as a part of the Company’s asset/liability strategy or sold in response to changes in interest rates, anticipated prepayments, risk/reward characteristics, liquidity needs, tax planning considerations, or other economic factors. Short-term instruments include money market accounts, options, and short-term bonds that are highly rated short duration securities and redeemable within one year.
A primary exposure for the fixed maturity securities is interest rate risk. The longer the duration, the more sensitive the asset is to market interest rate fluctuations. As assets with longer maturity dates tend to produce higher current yields, the Company’s historical investment philosophy has resulted in a portfolio with a moderate duration. The Company's portfolio is heavily weighted in investment grade tax-exempt municipal bonds. Fixed maturity securities purchased by the Company typically have call options attached, which further reduce the duration of the asset as interest rates decline. The holdings that are heavily weighted with high coupon issues, are expected to be called prior to maturity. Modified duration measures the length of time it takes, on average, to receive the present value of all the cash flows produced by a bond, including reinvestment of interest. As it measures four factors (maturity, coupon rate, yield and call terms) which determine sensitivity to changes in interest rates, modified duration is considered a better indicator of price volatility than simple maturity alone.
The following table presents the maturities and durations of the Company's fixed maturity securities and short-term investments:
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
(in years)
Fixed Maturity Securities
 
 
 
Nominal average maturity:
 
 
 
excluding short-term investments
14.4
 
14.2
including short-term investments
12.8
 
13.1
Call-adjusted average maturity:
 
 
 
excluding short-term investments
4.9
 
4.9
including short-term investments
4.4
 
4.5
Modified duration reflecting anticipated early calls:
 
 
 
excluding short-term investments
4.2
 
4.3
including short-term investments
3.7
 
4.0
Short-Term Investments
 
Another exposure related to the fixed maturity securities is credit risk, which is managed by maintaining a weighted-average portfolio credit quality rating of A+, at fair value, at March 31, 2019, consistent with the average rating at December 31, 2018. The Company's municipal bond holdings of which 97.8% were tax exempt, represented 85.7% of its fixed maturity securities portfolio at March 31, 2019, at fair value, and are broadly diversified geographically. See Part I-Item 3. Quantitative and Qualitative Disclosures About Market Risks for a breakdown of municipal bond holdings by state.
To calculate the weighted-average credit quality ratings disclosed throughout this Quarterly Report on Form 10-Q, individual securities were weighted based on fair value and credit quality ratings assigned by nationally recognized securities rating organizations.
Taxable holdings consist principally of investment grade issues. At March 31, 2019, fixed maturity securities holdings rated below investment grade and non-rated bonds totaled $36.8 million and $65.2 million, respectively, at fair value, and represented 1.2% and 2.1%, respectively, of total fixed maturity securities. The majority of non-rated issues are a result of municipalities pre-funding and collateralizing those issues with U.S. government securities with an implicit AAA equivalent credit risk. At December 31, 2018, fixed maturity securities holdings rated below investment grade and non-rated bonds totaled $36.0 million and $76.4 million, respectively, at fair value, and represented 1.2% and 2.6%, respectively, of total fixed maturity securities.
Credit ratings for the Company’s fixed maturity securities portfolio were stable during the three months ended March 31, 2019, with 97.0% of fixed maturity securities at fair value experiencing no change in their overall rating. 2.3% and 0.7% of fixed maturity securities at fair value experienced upgrades and downgrades, respectively, during the three months ended March 31, 2019; the downgrades were slight and still within the investment grade portfolio.

37


The following table presents the credit quality ratings of the Company’s fixed maturity securities by security type at fair value:
 
 
March 31, 2019
 
 
(Dollars in thousands)
Security Type
 
AAA(1)
 
AA(1)
 
A(1)
 
BBB(1)
 
Non-Rated/Other(1)
 
Total Fair
Value(1)
U.S. government bonds:
 
 
 
 
 
 
 
 
 
 
 
 
Treasuries
 
$
23,786

 
$

 
$

 
$

 
$

 
$
23,786

Total
 
23,786

 

 

 

 

 
23,786

 
 
100.0
%
 
%
 
%
 
%
 
%
 
100.0
%
Municipal securities:
 
 
 
 
 
 
 
 
 
 
 
 
Insured
 
30,232

 
158,199

 
127,601

 
70,919

 
14,086

 
401,037

Uninsured
 
31,441

 
720,273

 
1,266,485

 
219,184

 
56,688

 
2,294,071

Total
 
61,673

 
878,472

 
1,394,086

 
290,103

 
70,774

 
2,695,108

 
 
2.3
%
 
32.6
%
 
51.7
%
 
10.8
%
 
2.6
%
 
100.0
%
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
8,381

 
5,277

 
4,759

 
4,032

 

 
22,449

Agencies
 
1,730

 

 

 

 

 
1,730

Non-agencies:
 
 
 
 
 
 
 
 
 
 
 
 
Prime
 

 
57

 
153

 

 
925

 
1,135

Alt-A
 

 
870

 

 
538

 
1,716

 
3,124

Total
 
10,111

 
6,204

 
4,912

 
4,570

 
2,641

 
28,438

 
 
35.5
%
 
21.8
%
 
17.3
%
 
16.1
%
 
9.3
%
 
100.0
%
Corporate securities:
 
 
 
 
 
 
 
 
 
 
 
 
Basic materials
 

 

 

 
3,957

 
2,709

 
6,666

Communications
 

 

 
333

 
343

 

 
676

Consumer, cyclical
 

 

 

 
7,469

 
1,823

 
9,292

Consumer, non-cyclical
 

 

 
439

 
3,297

 
124

 
3,860

Energy
 

 

 
2,911

 
19,272

 
4,033

 
26,216

Financial
 

 
10,532

 
24,844

 
19,793

 
5,164

 
60,333

Industrial
 

 

 

 
4,153

 

 
4,153

Technology
 

 

 

 

 

 

Utilities
 

 

 
6,266

 

 
562

 
6,828

Total
 

 
10,532

 
34,793

 
58,284

 
14,415

 
118,024

 
 
%
 
8.9
%
 
29.5
%
 
49.4
%
 
12.2
%
 
100.0
%
Collateralized loan obligations:
 
 
 
 
 
 
 
 
 
 
 
 
Corporate
 
19,626

 
20,978

 
124,627

 

 
7,732

 
172,963

Total
 
19,626

 
20,978

 
124,627

 

 
7,732

 
172,963

 
 
11.3
%
 
12.1
%
 
72.1
%
 
%
 
4.5
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Other asset-backed securities
 
6,036

 

 
15,630

 
10,371

 
7,017

 
39,054

 
 
15.5
%
 
%
 
40.0
%
 
26.5
%
 
18.0
%
 
100.0
%
Total
 
$
121,232

 
$
916,186

 
$
1,574,048

 
$
363,328

 
$
102,579

 
$
3,077,373

 
 
3.9
%
 
29.8
%
 
51.1
%
 
11.9
%
 
3.3
%
 
100.0
%
 
______________
(1) 
Intermediate ratings are included at each level (e.g., AA includes AA+, AA and AA-).

U.S. Government Bonds

The Company had $23.8 million and $25.0 million at fair value (each representing 0.8% of its fixed maturity securities portfolio) in U.S. government bonds at March 31, 2019 and December 31, 2018, respectively. At March 31, 2019, Moody's and Fitch ratings for U.S. government-issued debt were Aaa and AAA, respectively, although a significant increase in government

38


deficits and debt could lead to a downgrade. The Company understands that market participants continue to use rates of return on U.S. government debt as a risk-free rate and have continued to invest in U.S. Treasury securities. The modified duration of the U.S. government bonds portfolio reflecting anticipated early calls was 1.6 years and 1.7 years at March 31, 2019 and December 31, 2018, respectively.

Municipal Securities

The Company had $2.70 billion and $2.62 billion, or 87.6% and 87.8% of its fixed maturity securities portfolio, at fair value, in municipal securities, $401.0 million and $404.8 million of which were insured, at March 31, 2019 and December 31, 2018, respectively. The underlying ratings for insured municipal bonds have been factored into the average rating of the securities by the rating agencies with no significant disparity between the absolute securities ratings and the underlying credit ratings as of March 31, 2019 and December 31, 2018.
At March 31, 2019 and December 31, 2018, 62.0% and 62.6%, respectively, of the insured municipal securities, at fair value, most of which were investment grade, were insured by bond insurers that provide credit enhancement and ratings reflecting the credit of the underlying issuers. At March 31, 2019 and December 31, 2018, the average rating of the Company’s insured municipal securities was A+, which corresponded to the average rating of the investment grade bond insurers. The remaining 38.0% and 37.4% of insured municipal securities at March 31, 2019 and December 31, 2018, respectively, were non-rated or below investment grade, and were insured by bond insurers that the Company believes did not provide credit enhancement. The modified duration of the municipal securities portfolio reflecting anticipated early calls was 4.2 years at March 31, 2019 and December 31, 2018.
The Company considers the strength of the underlying credit as a buffer against potential market value declines which may result from future rating downgrades of the bond insurers. In addition, the Company has a long-term time horizon for its municipal bond holdings, which generally allows it to recover the full principal amounts upon maturity and avoid forced sales prior to maturity of bonds that have declined in market value due to the bond insurers’ rating downgrades. Based on the uncertainty surrounding the financial condition of these insurers, it is possible that there will be additional downgrades to below investment grade ratings by the rating agencies in the future, and such downgrades could impact the estimated fair value of municipal bonds.

Mortgage-Backed Securities

At March 31, 2019 and December 31, 2018, the mortgage-backed securities portfolio of $28.4 million and $31.0 million, or 0.9% and 1.0%, respectively, of the Company's fixed maturity securities portfolio, at fair value, was categorized as loans to “prime” residential and commercial real estate borrowers, except for $3.1 million and $3.2 million, respectively, at fair value ($3.1 million and $3.2 million at amortized cost) of Alt-A mortgages. Alt-A mortgage-backed securities are at fixed or variable rates and include certain securities that are collateralized by residential mortgage loans issued to borrowers with credit profiles stronger than those of sub-prime borrowers, but do not qualify for prime financing terms due to high loan-to-value ratios or limited supporting documentation. The Company had holdings of $22.4 million and $24.8 million at fair value ($22.2 million and $24.5 million at amortized cost) in commercial mortgage-backed securities at March 31, 2019 and December 31, 2018, respectively.
The weighted-average rating of the Company’s Alt-A mortgage-backed securities at March 31, 2019 and December 31, 2018 was BB, while the weighted-average rating of the entire mortgage-backed securities portfolio was A+ at March 31, 2019 and December 31, 2018. The modified duration of the mortgage-backed securities portfolio reflecting anticipated early calls was 4.1 years and 4.0 years at March 31, 2019 and December 31, 2018, respectively.

Corporate Securities

Corporate securities included in fixed maturity securities are as follows:
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
(Amounts in thousands)
Corporate securities at fair value
$
118,024

 
$
105,524

Percentage of total fixed maturity securities portfolio
3.8
%
 
3.5
%
Modified duration
2.5 years

 
2.4 years

Weighted-average rating
BBB+

 
BBB



39


Collateralized Loan Obligations

Collateralized loan obligations included in fixed maturity securities are as follows:
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
(Amounts in thousands)
Collateralized loan obligations at fair value
$
172,963

 
$
165,789

Percentage of total fixed maturity securities portfolio
5.6
%
 
5.6
%
Modified duration
5.3 years

 
5.5 years

Weighted-average rating
A+

 
A+


Other Asset-Backed Securities

Other asset-backed securities included in fixed maturity securities are as follows:
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
(Amounts in thousands)
Other asset-backed securities at fair value
$
39,054

 
$
37,761

Percentage of total fixed maturity securities portfolio
1.3
%
 
1.3
%
Modified duration
3.5 years

 
2.1 years

Weighted-average rating
A

 
A+


Equity Securities

Equity holdings of $616.5 million and $529.6 million at fair value, as of March 31, 2019 and December 31, 2018, respectively, consist of non-redeemable preferred stocks, common stocks on which dividend income is partially tax-sheltered by the 50% corporate dividend received deduction, and private equity funds including a fund measured at net asset value. The Company had a net gain (loss) of $53.7 million and $(11.9) million due to changes in fair value of the Company’s equity securities portfolio for the three months ended March 31, 2019 and 2018, respectively. The primary cause for the increase in fair value of the Company’s equity securities portfolio for the three months ended March 31, 2019 was overall improvement in equity markets, and the main cause for the decrease for the three months ended March 31, 2018 was overall decline in equity markets.

The Company’s common stock allocation is intended to enhance the return of and provide diversification for the total portfolio. At March 31, 2019, 15.2% of the total investment portfolio at fair value was held in equity securities, compared to 14.1% at December 31, 2018.
D. Debt

On March 8, 2017, the Company paid off the total outstanding balance of $320 million under the existing loan and credit facility agreements with the proceeds from its public offering of $375 million of senior notes, and terminated the agreements.

On March 8, 2017, the Company completed a public debt offering issuing $375 million of senior notes. The notes are unsecured senior obligations of the Company with a 4.40% annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. The notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off amounts outstanding under the existing loan and credit facilities and for general corporate purposes. The Company incurred debt issuance costs of approximately $3.4 million, inclusive of underwriters' fees. The notes were issued at a slight discount of 99.847% of par, resulting in the effective annualized interest rate including debt issuance costs of approximately 4.45%.

On March 29, 2017, the Company entered into an unsecured credit agreement that provides for revolving loans of up to $50 million and matures on March 29, 2022. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from LIBOR plus 112.5 basis points when the ratio is under 15% to LIBOR plus 162.5 basis points when the ratio is greater than or equal to 25%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 15% to 22.5 basis points when the ratio is greater than or equal to 25%. The debt to total capital ratio is expressed as a percentage of (a) consolidated debt to (b) consolidated shareholders' equity plus consolidated debt. The Company's debt to total capital ratio was 17.9% at March 31, 2019, resulting in a 15 basis point commitment fee on the $50 million undrawn portion of the credit facility. As of April 25, 2019, there have been no borrowings under this facility.


40


The Company was in compliance with all of its financial covenants pertaining to minimum statutory surplus, debt to total capital ratio, and risk based capital ratio under the unsecured credit facility at March 31, 2019.

For additional information on debt, see Note 12. Notes Payable of the Notes to Consolidated Financial Statements.

E. Regulatory Capital Requirements

Among other considerations, industry and regulatory guidelines suggest that the ratio of a property and casualty insurer’s annual net premiums written to statutory policyholders’ surplus should not exceed 3.0 to 1. Based on the combined surplus of all the Insurance Companies of $1.53 billion at March 31, 2019, and net premiums written of $3.6 billion for the twelve months ended on that date, the ratio of net premiums written to surplus was 2.32 to 1 at March 31, 2019.
 
Item 3. Quantitative and Qualitative Disclosures About Market Risks

The Company is subject to various market risk exposures primarily due to its investing and borrowing activities. Primary market risk exposures are changes in interest rates, equity prices, and credit risk. Adverse changes to these rates and prices may occur due to changes in the liquidity of a market, or to changes in market perceptions of creditworthiness and risk tolerance. The following disclosure reflects estimates of future performance and economic conditions. Actual results may differ.
Overview
The Company’s investment policies define the overall framework for managing market and investment risks, including accountability and controls over risk management activities, and specify the investment limits and strategies that are appropriate given the liquidity, surplus, product profile, and regulatory requirements of the subsidiaries. Executive oversight of investment activities is conducted primarily through the Company’s investment committee. The Company’s investment committee focuses on strategies to enhance after-tax yields, mitigate market risks, and optimize capital to improve profitability and returns.
The Company manages exposures to market risk through the use of asset allocation, duration, and credit ratings. Asset allocation limits place restrictions on the total amount of funds that may be invested within an asset class. Duration limits on the fixed maturity securities portfolio place restrictions on the amount of interest rate risk that may be taken. Comprehensive day-to-day management of market risk within defined tolerance ranges occurs as portfolio managers buy and sell within their respective markets based upon the acceptable boundaries established by investment policies.

Credit Risk

Credit risk results from uncertainty in a counterparty’s ability to meet its obligations. Credit risk is managed by maintaining a high credit quality fixed maturity securities portfolio. As of March 31, 2019, the estimated weighted-average credit quality rating of the fixed maturity securities portfolio was A+, at fair value, consistent with the average rating at December 31, 2018.

The following table presents municipal securities by state in descending order of holdings at fair value at March 31, 2019: 
States
Fair Value
 
Average
Rating
 
(Amounts in thousands)
 
 
Texas
$
385,608

 
A+
Florida
261,007

 
A+
Illinois
229,225

 
A-
Pennsylvania
163,984

 
A+
California
152,257

 
A+
Other states
1,503,027

 
A+
Total
$
2,695,108

 
 
At March 31, 2019, the municipal securities portfolio was broadly diversified among the states and the largest holdings were in populous states such as Texas and Florida. These holdings were further diversified primarily among cities, counties, schools, public works, hospitals, and state general obligations. The Company seeks to minimize overall credit risk and ensure diversification by limiting exposure to any particular issuer.

Taxable fixed maturity securities represented 14.3% of the Company’s total fixed maturity securities portfolio at fair value

41


at March 31, 2019. 5.4% of the Company’s taxable fixed maturity securities at fair value were comprised of U.S. government bonds, which were rated AAA at March 31, 2019. 3.3% of the Company’s taxable fixed maturity securities at fair value, representing 0.5% of its total fixed maturity securities portfolio at fair value, were rated below investment grade at March 31, 2019. Below investment grade issues are considered “watch list” items by the Company, and their status is evaluated within the context of the Company’s overall portfolio and its investment policy on an aggregate risk management basis, as well as their ability to recover their investment on an individual issue basis.

Equity Price Risk
Equity price risk is the risk that the Company will incur losses due to adverse changes in the equity markets.

At March 31, 2019, the Company’s primary objective for common equity investments was current income. The fair value of the equity investments consisted of $513.9 million in common stocks, $33.7 million in non-redeemable preferred stocks, and $68.9 million in private equity funds. Common stocks are typically valued for future economic prospects as perceived by the market.
Common stocks represented 12.7% of total investments at fair value at March 31, 2019. Beta is a measure of a security’s systematic (non-diversifiable) risk, which is measured by the percentage change in an individual security’s return for a 1% change in the return of the market.
Based on hypothetical reductions in the overall value of the stock market, the following table illustrates estimated reductions in the overall value of the Company’s common stock portfolio at March 31, 2019 and December 31, 2018:
 
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
 
 
(Amounts in thousands, except average Beta)
Average Beta
 
0.84

 
0.78

Hypothetical reduction of 25% in the overall value of the stock market
 
$
107,921

 
$
84,040

Hypothetical reduction of 50% in the overall value of the stock market
 
$
215,842

 
$
168,080


Interest Rate Risk

Interest rate risk is the risk that the Company will incur a loss due to adverse changes in interest rates relative to the interest rate characteristics of interest bearing assets and liabilities. The Company faces interest rate risk as it invests a substantial amount of funds in interest sensitive assets and holds interest sensitive liabilities. Interest rate risk includes risks related to changes in U.S. Treasury yields and other key benchmarks, as well as changes in interest rates resulting from widening credit spreads and credit exposure to collateralized securities.
The fixed maturity securities portfolio, which represented 75.8% of total investments at March 31, 2019 at fair value, is subject to interest rate risk. The change in market interest rates is inversely related to the change in the fair value of the fixed maturity securities portfolio. A common measure of the interest sensitivity of fixed maturity securities is modified duration, a calculation that utilizes maturity, coupon rate, yield and call terms to calculate an average age to receive the present value of all the cash flows produced by such assets, including reinvestment of interest. The longer the duration, the more sensitive the asset is to market interest rate fluctuations.
The Company has historically invested in fixed maturity securities with a goal of maximizing after-tax yields and holding assets to the maturity or call date. Since assets with longer maturities tend to produce higher current yields, the Company’s historical investment philosophy resulted in a portfolio with a moderate duration. Fixed maturity securities purchased by the Company typically have call options attached, which further reduce the duration of the asset as interest rates decline. The modified duration of the overall fixed maturity securities portfolio reflecting anticipated early calls was 3.7 years and 4.0 years at March 31, 2019 and December 31, 2018, respectively.
If interest rates were to rise by 100 and 200 basis points, the Company estimates that the fair value of its fixed maturity securities portfolio at March 31, 2019 would decrease by $129.2 million and $258.4 million, respectively. Conversely, if interest rates were to decrease, the fair value of the Company’s fixed maturity securities portfolio would rise, and it may cause a higher number of the Company's fixed maturity securities to be called away. The proceeds from the called fixed maturity securities would likely be reinvested at lower yields, which would result in lower overall investment income for the Company.




42


Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

The Company maintains disclosure controls and procedures designed to ensure that information required to be disclosed in the Company’s reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the SEC rules and forms, and that such information is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow for timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost benefit relationship of possible controls and procedures.
As required by Securities and Exchange Commission Rule 13a-15(b), the Company carried out an evaluation, under the supervision and with the participation of the Company’s management, including the Company’s Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures as of the end of the quarter covered by this Quarterly Report on Form 10-Q. Based on the foregoing, the Company’s Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective at the reasonable assurance level.
Changes in Internal Control over Financial Reporting

There has been no change in the Company’s internal control over financial reporting during the Company’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. The Company’s process for evaluating controls and procedures is continuous and encompasses constant improvement of the design and effectiveness of established controls and procedures and the remediation of any deficiencies which may be identified during this process.

PART II - OTHER INFORMATION
 
Item 1. Legal Proceedings

The Company is, from time to time, named as a defendant in various lawsuits or regulatory actions incidental to its insurance business. The majority of lawsuits brought against the Company relate to insurance claims that arise in the normal course of business and are reserved for through the reserving process. For a discussion of the Company’s reserving methods, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.
The Company establishes reserves for non-insurance claims related lawsuits, regulatory actions, and other contingencies when the Company believes a loss is probable and is able to estimate its potential exposure. For loss contingencies believed to be reasonably possible, the Company also discloses the nature of the loss contingency and an estimate of the possible loss, range of loss, or a statement that such an estimate cannot be made. While actual losses may differ from the amounts recorded and the ultimate outcome of the Company's pending actions is generally not yet determinable, the Company does not believe that the ultimate resolution of currently pending legal or regulatory proceedings, either individually or in the aggregate, will have a material adverse effect on its financial condition or cash flows.
In all cases, the Company vigorously defends itself unless a reasonable settlement appears appropriate. For a discussion of legal matters, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. See also “Overview-C. Regulatory and Legal Matters” in Part I-Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations of this Quarterly Report on Form 10-Q.
There are no environmental proceedings arising under federal, state, or local laws or regulations to be discussed.

Item 1A. Risk Factors

The Company’s business, results of operations, and financial condition are subject to various risks. These risks are described elsewhere in this Quarterly Report on Form 10-Q and in the Company’s other filings with the United States Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The risk factors identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 have not changed in any material

43


respect.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.
 
Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosure

Not applicable.

Item 5. Other Information

On April 26, 2019, the Compensation Committee of the Board of Directors approved a cash bonus plan covering the Company’s named executive officers for 2019 (the “2019 Bonus Plan”). The bonuses payable under the 2019 Bonus Plan will be determined by the Compensation Committee after evaluating Company performance relative to specified corporate goals adopted by the Compensation Committee, which for 2019 will relate to the Company’s combined ratio and policies in force. The target bonus percentage for each named executive officer as a percentage of his annual base salary is: George Joseph, Chairman of the Board, 100%; Gabe Tirador, Chief Executive Officer and President, 100%; and Theodore Stalick, Senior Vice President and Chief Financial Officer, 80%. Christopher Graves, the Company’s Vice President and Chief Investment Officer, is eligible to receive an annual discretionary bonus, which is determined each year by Messrs. Joseph and Tirador based on their subjective review of his individual performance and the performance of the Company's investment department, and will not be a participant in the 2019 Bonus Plan. The Company expects to adopt a similar bonus program for future years, which will reward achievement at specified levels of corporate financial performance and will contain target bonuses consistent with those disclosed above.


44


Item 6. Exhibits
 
3.1
 
 
3.2
 
 
15.1
 
 
15.2
 
 
31.1
 
 
31.2
 
 
32.1
 
 
32.2
 
 
101.INS
XBRL Instance Document.
 
 
101.SCH
XBRL Taxonomy Extension Schema Document.
 
 
101.CAL
XBRL Taxonomy Extension Calculation Linkbase Document.
 
 
101.LAB
XBRL Taxonomy Extension Label Linkbase Document.
 
 
101.PRE
XBRL Taxonomy Extension Presentation Linkbase Document.
 
 
101.DEF
XBRL Taxonomy Extension Definition Linkbase Document.



45


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
 
MERCURY GENERAL CORPORATION
 
 
 
Date: April 30, 2019
 
By:
/s/ Gabriel Tirador
 
 
 
Gabriel Tirador
 
 
 
President and Chief Executive Officer
 
 
 
Date: April 30, 2019
 
By:
/s/ Theodore R. Stalick
 
 
 
Theodore R. Stalick
 
 
 
Senior Vice President and Chief Financial Officer

46
EX-15.1 2 mcy-2019331x10qxexhibit151.htm EXHIBIT 15.1 Exhibit


Exhibit 15.1
Report of Independent Registered Public Accounting Firm
To the Board of Directors and Shareholders
Mercury General Corporation:

Results of Review of Interim Financial Information
We have reviewed the consolidated balance sheet of Mercury General Corporation and subsidiaries as of March 31, 2019, the related consolidated statements of operations for the three-month periods ended March 31, 2019 and 2018, the related consolidated statements of shareholders' equity and cash flows for the three-month periods ended March 31, 2019 and 2018, and the related notes (collectively, the consolidated interim financial information). Based on our reviews, we are not aware of any material modifications that should be made to the consolidated interim financial information for it to be in conformity with U.S. generally accepted accounting principles.
We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheet of the Company as of December 31, 2018, and the related consolidated statements of operations, shareholders’ equity, and cash flows for the year then ended (not presented herein); and in our report dated February 13, 2019, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying consolidated balance sheet as of December 31, 2018, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived.
Basis for Review Results
This consolidated interim financial information is the responsibility of the Company’s management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our reviews in accordance with the standards of the PCAOB. A review of consolidated interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.
 
/S/ KPMG LLP
Los Angeles, California
April 30, 2019



EX-15.2 3 mcy-2019331x10qxexhibit152.htm EXHIBIT 15.2 Exhibit


Exhibit 15.2
Awareness Letter of Independent Registered Public Accounting Firm
April 30, 2019
Mercury General Corporation
Los Angeles, California
 
Re:
Registration Statement No. 333-125460, 333-202204, and 333-215344
With respect to the subject registration statements, we acknowledge our awareness of the use therein of our report dated April 30, 2019 related to our review of interim financial information.
Pursuant to Rule 436 under the Securities Act of 1933 (the Act), such report is not considered part of a registration statement prepared or certified by an independent registered public accounting firm, or a report prepared or certified by an independent registered public accounting firm within the meaning of Sections 7 and 11 of the Act.
 
Very truly yours,
/s/ KPMG LLP
Los Angeles, California



EX-31.1 4 mcy-2019331x10qxexhibit311.htm EXHIBIT 31.1 Exhibit


Exhibit 31.1
Certification of Chief Executive Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
I, Gabriel Tirador, certify that:
1.
I have reviewed this Quarterly Report on Form 10-Q of Mercury General Corporation;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: April 30, 2019
 
/s/ GABRIEL TIRADOR
 
 
Gabriel Tirador, Chief Executive Officer


EX-31.2 5 mcy-2019331x10qxexhibit312.htm EXHIBIT 31.2 Exhibit


Exhibit 31.2
Certification of Chief Financial Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
I, Theodore R. Stalick, certify that:
1.
I have reviewed this Quarterly Report on Form 10-Q of Mercury General Corporation;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: April 30, 2019
 
/s/ THEODORE R. STALICK
 
 
Theodore R. Stalick, Senior Vice President and Chief Financial Officer



EX-32.1 6 mcy-2019331x10qxexhibit321.htm EXHIBIT 32.1 Exhibit


Exhibit 32.1
Certification of Chief Executive Officer
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
Pursuant to 18 U.S.C. §1350, as created by Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned officer of Mercury General Corporation (the “Company”) hereby certifies, to such officer’s knowledge, that:
(i) the accompanying Quarterly Report on Form 10-Q of the Company for the period ended March 31, 2019 (the “Report”) fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

(ii) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: April 30, 2019
 
/s/ GABRIEL TIRADOR
 
 
Gabriel Tirador, Chief Executive Officer
The foregoing certification is being furnished solely to accompany the Report pursuant to 18 U.S.C. §1350, and are not being filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and are not to be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.


EX-32.2 7 mcy-2019331x10qxexhibit322.htm EXHIBIT 32.2 Exhibit


Exhibit 32.2
Certification of Chief Financial Officer
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
Pursuant to 18 U.S.C. §1350, as created by Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned officer of Mercury General Corporation (the “Company”) hereby certifies, to such officer’s knowledge, that:
(i) the accompanying Quarterly Report on Form 10-Q of the Company for the period ended March 31, 2019 (the “Report”) fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

(ii) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: April 30, 2019
 
/s/ THEODORE R. STALICK
 
 
Theodore R. Stalick, Senior Vice President and Chief Financial Officer
The foregoing certification is being furnished solely to accompany the Report pursuant to 18 U.S.C. §1350, and are not being filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and are not to be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.


EX-101.INS 8 mcy-20190331.xml XBRL INSTANCE DOCUMENT 0000064996 2019-01-01 2019-03-31 0000064996 2019-04-25 0000064996 2019-03-31 0000064996 2018-12-31 0000064996 2018-01-01 2018-03-31 0000064996 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0000064996 us-gaap:CommonStockMember 2019-03-31 0000064996 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0000064996 us-gaap:RetainedEarningsMember 2018-03-31 0000064996 us-gaap:CommonStockMember 2017-12-31 0000064996 us-gaap:RetainedEarningsMember 2019-03-31 0000064996 us-gaap:RetainedEarningsMember 2017-12-31 0000064996 us-gaap:CommonStockMember 2018-12-31 0000064996 us-gaap:RetainedEarningsMember 2018-12-31 0000064996 us-gaap:CommonStockMember 2018-01-01 2018-03-31 0000064996 us-gaap:RetainedEarningsMember 2018-01-01 2018-03-31 0000064996 us-gaap:CommonStockMember 2018-03-31 0000064996 2018-03-31 0000064996 2017-12-31 0000064996 2018-07-01 2018-09-30 0000064996 2017-07-01 2017-09-30 0000064996 2017-08-01 2017-08-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:TotalReturnSwapMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2019-03-31 0000064996 us-gaap:InvestmentsMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CallOptionMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2018-12-31 0000064996 us-gaap:FinanceReceivablesMember 2019-03-31 0000064996 us-gaap:FinanceReceivablesMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CallOptionMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:TotalReturnSwapMember 2018-12-31 0000064996 us-gaap:InvestmentsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2018-12-31 0000064996 us-gaap:FixedIncomeSecuritiesMember 2018-01-01 2018-03-31 0000064996 us-gaap:FixedIncomeSecuritiesMember 2019-01-01 2019-03-31 0000064996 us-gaap:FinanceReceivablesMember 2018-01-01 2018-03-31 0000064996 us-gaap:ShortTermInvestmentsMember 2019-01-01 2019-03-31 0000064996 us-gaap:InvestmentsMember 2019-01-01 2019-03-31 0000064996 us-gaap:EquitySecuritiesMember 2019-01-01 2019-03-31 0000064996 us-gaap:ShortTermInvestmentsMember 2018-01-01 2018-03-31 0000064996 us-gaap:EquitySecuritiesMember 2018-01-01 2018-03-31 0000064996 us-gaap:FinanceReceivablesMember 2019-01-01 2019-03-31 0000064996 us-gaap:InvestmentsMember 2018-01-01 2018-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquityContractMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermDebtMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommonStockMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommonStockMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember mcy:OtherAssetBackedSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedLoanObligationsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember mcy:OtherAssetBackedSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember mcy:MunicipalSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:NonredeemablePreferredStockMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermDebtMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember mcy:MunicipalSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommonStockMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedLoanObligationsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivateEquityFundsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermDebtMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquityContractMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedLoanObligationsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivateEquityFundsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:NonredeemablePreferredStockMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivateEquityFundsMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember mcy:OtherAssetBackedSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:NonredeemablePreferredStockMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermDebtMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:TotalReturnSwapMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember mcy:OtherAssetBackedSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:NonredeemablePreferredStockMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember mcy:MunicipalSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommonStockMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember mcy:PrivateEquityFundsNetAssetValueMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedLoanObligationsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivateEquityFundsMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:TotalReturnSwapMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquityContractMember 2019-03-31 0000064996 us-gaap:EquityContractMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember mcy:MunicipalSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:TotalReturnSwapMember 2019-03-31 0000064996 us-gaap:PrivateEquityFundsMember 2018-03-31 0000064996 us-gaap:PrivateEquityFundsMember 2017-12-31 0000064996 us-gaap:PrivateEquityFundsMember 2019-01-01 2019-03-31 0000064996 us-gaap:PrivateEquityFundsMember 2018-01-01 2018-03-31 0000064996 us-gaap:PrivateEquityFundsMember 2018-12-31 0000064996 us-gaap:PrivateEquityFundsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermDebtMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:NonredeemablePreferredStockMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquityContractMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:NonredeemablePreferredStockMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedLoanObligationsMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivateEquityFundsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivateEquityFundsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:TotalReturnSwapMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:NonredeemablePreferredStockMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommonStockMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquityContractMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:NonredeemablePreferredStockMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember mcy:OtherAssetBackedSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedLoanObligationsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommonStockMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermDebtMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommonStockMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember mcy:OtherAssetBackedSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember mcy:OtherAssetBackedSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermDebtMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:TotalReturnSwapMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember mcy:MunicipalSecuritiesMember 2018-12-31 0000064996 us-gaap:EquityContractMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember mcy:OtherAssetBackedSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember mcy:PrivateEquityFundsNetAssetValueMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember mcy:MunicipalSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommonStockMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedLoanObligationsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivateEquityFundsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember mcy:MunicipalSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquityContractMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermDebtMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CollateralizedLoanObligationsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:TotalReturnSwapMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember mcy:MunicipalSecuritiesMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivateEquityFundsMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:CommercialMortgageBackedSecuritiesMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:CommercialMortgageBackedSecuritiesMember 2018-12-31 0000064996 srt:MinimumMember 2019-01-01 2019-03-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivateEquityFundsMember 2018-12-31 0000064996 us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivateEquityFundsMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2018-12-31 0000064996 us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2018-12-31 0000064996 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2019-03-31 0000064996 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2019-03-31 0000064996 us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2019-03-31 0000064996 us-gaap:FairValueMeasurementsNonrecurringMember 2019-03-31 0000064996 us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 0000064996 srt:MinimumMember 2019-03-31 0000064996 srt:MaximumMember 2019-03-31 0000064996 us-gaap:NondesignatedMember 2018-01-01 2018-03-31 0000064996 us-gaap:EquityContractMember us-gaap:NondesignatedMember mcy:NetRealizedInvestmentGainsMember 2018-01-01 2018-03-31 0000064996 us-gaap:TotalReturnSwapMember us-gaap:NondesignatedMember mcy:NetRealizedInvestmentGainsMember 2018-01-01 2018-03-31 0000064996 us-gaap:EquityContractMember us-gaap:NondesignatedMember mcy:NetRealizedInvestmentGainsMember 2019-01-01 2019-03-31 0000064996 us-gaap:TotalReturnSwapMember us-gaap:NondesignatedMember mcy:NetRealizedInvestmentGainsMember 2019-01-01 2019-03-31 0000064996 us-gaap:NondesignatedMember 2019-01-01 2019-03-31 0000064996 us-gaap:NondesignatedMember 2019-03-31 0000064996 us-gaap:NondesignatedMember 2018-12-31 0000064996 us-gaap:OtherLiabilitiesMember us-gaap:EquityContractMember us-gaap:NondesignatedMember 2018-12-31 0000064996 us-gaap:OtherLiabilitiesMember us-gaap:TotalReturnSwapMember us-gaap:NondesignatedMember 2018-12-31 0000064996 us-gaap:OtherLiabilitiesMember us-gaap:EquityContractMember us-gaap:NondesignatedMember 2019-03-31 0000064996 us-gaap:OtherLiabilitiesMember us-gaap:TotalReturnSwapMember us-gaap:NondesignatedMember 2019-03-31 0000064996 mcy:FFLMember us-gaap:SwapMember 2019-03-31 0000064996 mcy:FFLMember us-gaap:SwapMember 2014-02-13 2014-02-13 0000064996 mcy:FFLMember us-gaap:SwapMember 2018-12-31 0000064996 mcy:FFLMember us-gaap:SwapMember us-gaap:LondonInterbankOfferedRateLIBORMember 2014-02-13 0000064996 mcy:FFLMember us-gaap:SwapMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-07-31 0000064996 mcy:FFLMember us-gaap:SwapMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-01-31 0000064996 us-gaap:TradeNamesMember 2018-12-31 0000064996 us-gaap:TradeNamesMember 2019-03-31 0000064996 us-gaap:CustomerRelationshipsMember 2019-03-31 0000064996 us-gaap:TechnologyEquipmentMember 2018-12-31 0000064996 us-gaap:TechnologyEquipmentMember 2019-03-31 0000064996 us-gaap:LicensingAgreementsMember 2018-12-31 0000064996 us-gaap:TechnologyEquipmentMember 2018-01-01 2018-12-31 0000064996 us-gaap:CustomerRelationshipsMember 2019-01-01 2019-03-31 0000064996 us-gaap:CustomerRelationshipsMember 2018-12-31 0000064996 us-gaap:TechnologyEquipmentMember 2019-01-01 2019-03-31 0000064996 us-gaap:LicensingAgreementsMember 2019-03-31 0000064996 us-gaap:TradeNamesMember 2018-01-01 2018-12-31 0000064996 us-gaap:CustomerRelationshipsMember 2018-01-01 2018-12-31 0000064996 us-gaap:TradeNamesMember 2019-01-01 2019-03-31 0000064996 us-gaap:EmployeeStockOptionMember mcy:TwoThousandFifteenPlanMember 2018-02-01 2018-02-28 0000064996 2018-02-01 2018-02-28 0000064996 mcy:TwoThousandFifteenPlanMember us-gaap:CommonStockMember 2019-03-31 0000064996 us-gaap:EmployeeStockOptionMember mcy:TwoThousandFifteenPlanMember 2019-02-01 2019-02-28 0000064996 mcy:TwoThousandFifteenPlanMember 2015-02-28 0000064996 mcy:TwoThousandFifteenPlanMember 2019-01-01 2019-03-31 0000064996 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-03-31 0000064996 us-gaap:EmployeeStockOptionMember mcy:TwoThousandFifteenPlanMember 2019-03-31 0000064996 us-gaap:FireMember 2019-03-31 0000064996 us-gaap:CatastropheMember 2019-01-01 2019-03-31 0000064996 us-gaap:FireMember 2019-01-01 2019-03-31 0000064996 us-gaap:CatastropheMember 2018-01-01 2018-03-31 0000064996 mcy:UnsecuredNotesOneMember us-gaap:FairValueInputsLevel2Member us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2019-03-31 0000064996 2017-03-08 0000064996 mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember 2017-03-29 0000064996 mcy:UnsecuredNotesTwoMember us-gaap:FairValueInputsLevel2Member us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2019-03-31 0000064996 mcy:UnsecuredNotesOneMember us-gaap:FairValueInputsLevel2Member us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2018-12-31 0000064996 mcy:UnsecuredNotesTwoMember us-gaap:FairValueInputsLevel2Member us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember 2018-12-31 0000064996 srt:MaximumMember mcy:UnsecuredNotesTwoMember us-gaap:FairValueInputsLevel2Member us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-01-01 2019-03-31 0000064996 srt:MinimumMember mcy:UnsecuredNotesTwoMember us-gaap:FairValueInputsLevel2Member us-gaap:BorrowingsMember us-gaap:UnsecuredDebtMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-01-01 2019-03-31 0000064996 srt:MaximumMember mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember us-gaap:LondonInterbankOfferedRateLIBORMember 2017-03-29 0000064996 srt:MinimumMember mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember 2017-03-29 2017-03-29 0000064996 srt:MinimumMember mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember 2017-03-29 0000064996 srt:MinimumMember mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember us-gaap:LondonInterbankOfferedRateLIBORMember 2017-03-29 0000064996 srt:MinimumMember mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember us-gaap:LondonInterbankOfferedRateLIBORMember 2017-03-29 2017-03-29 0000064996 srt:MaximumMember mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember us-gaap:LondonInterbankOfferedRateLIBORMember 2017-03-29 2017-03-29 0000064996 mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember 2017-03-29 2017-03-29 0000064996 srt:MaximumMember mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember 2017-03-29 0000064996 srt:MinimumMember mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember 2019-01-01 2019-03-31 0000064996 srt:MaximumMember mcy:UnsecuredNotesTwoMember us-gaap:RevolvingCreditFacilityMember 2017-03-29 2017-03-29 0000064996 mcy:CaliforniaDOIMember 2016-11-17 0000064996 us-gaap:OtherLiabilitiesMember 2017-06-30 0000064996 mcy:CaliforniaDOIMember 2015-02-09 2015-02-09 0000064996 mcy:CaliforniaDOIMember 2015-03-01 2015-03-31 0000064996 mcy:PropertyandCasualtyLinesMember 2018-01-01 2018-03-31 0000064996 us-gaap:AllOtherSegmentsMember 2018-01-01 2018-03-31 0000064996 us-gaap:AllOtherSegmentsMember 2019-01-01 2019-03-31 0000064996 mcy:PropertyandCasualtyLinesMember 2019-01-01 2019-03-31 0000064996 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember mcy:PropertyandCasualtyLinesMember 2019-01-01 2019-03-31 0000064996 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember 2019-01-01 2019-03-31 0000064996 us-gaap:OtherInsuranceProductLineMember mcy:PropertyandCasualtyLinesMember 2018-01-01 2018-03-31 0000064996 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-03-31 0000064996 us-gaap:OtherInsuranceProductLineMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-03-31 0000064996 us-gaap:PropertyInsuranceProductLineMember 2018-01-01 2018-03-31 0000064996 us-gaap:OtherInsuranceProductLineMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-03-31 0000064996 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-03-31 0000064996 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember mcy:PropertyandCasualtyLinesMember 2018-01-01 2018-03-31 0000064996 us-gaap:PropertyInsuranceProductLineMember 2019-01-01 2019-03-31 0000064996 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-03-31 0000064996 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember 2018-01-01 2018-03-31 0000064996 us-gaap:OtherInsuranceProductLineMember 2019-01-01 2019-03-31 0000064996 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember mcy:PropertyandCasualtyLinesMember 2018-01-01 2018-03-31 0000064996 us-gaap:PropertyInsuranceProductLineMember mcy:PropertyandCasualtyLinesMember 2019-01-01 2019-03-31 0000064996 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember 2019-01-01 2019-03-31 0000064996 us-gaap:OtherInsuranceProductLineMember mcy:PropertyandCasualtyLinesMember 2019-01-01 2019-03-31 0000064996 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember 2018-01-01 2018-03-31 0000064996 us-gaap:PropertyInsuranceProductLineMember mcy:PropertyandCasualtyLinesMember 2018-01-01 2018-03-31 0000064996 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-03-31 0000064996 us-gaap:PropertyInsuranceProductLineMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-03-31 0000064996 us-gaap:OtherInsuranceProductLineMember 2018-01-01 2018-03-31 0000064996 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember mcy:PropertyandCasualtyLinesMember 2019-01-01 2019-03-31 0000064996 us-gaap:PropertyInsuranceProductLineMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-03-31 mcy:segment xbrli:shares utreg:acre iso4217:USD xbrli:shares mcy:executive xbrli:pure mcy:Subsidiary iso4217:USD mcy:State mcy:broker false --12-31 Q1 2019 2019-03-31 10-Q 0000064996 55352577 false Large Accelerated Filer MERCURY GENERAL CORP false 100000000 106000000 2969541000 3011979000 -31000 103000 544082000 577263000 254518000 367837000 0.99847 6500000 0.07 9000000 5000000 40000000 375000000 375000000 1 14 6 4 249177000 256696000 0.983 P3Y 221616000 227787000 5700000 64001000 52794000 180859000 127634000 0.035 115071000 137258000 45373000 43936000 359269000 364015000 23000 16000 13700000 13600000 0 5557000 0 5557000 0 5588000 0 5588000 1400000 1300000 55000 0 5433729000 5606720000 692491000 3013932000 1445000 3773648000 1400000 885176000 3112783000 1213000 0 4066812000 1200000 842883000 850574000 291413000 290070000 314291000 270105000 -1343000 -44186000 13000000 15000000 0.6250 0.6275 0 0 70000000 70000000 55340000 55350000 55340000 55350000 98026000 98495000 0 0 0 0 2800000 2700000 0.01625 0.01125 0.001625 0.001125 375000000 375000000 0.0445 0.044 0.044 3266000 3166000 3400000 13339000 0 0 6166000 140984000 148413000 215131000 219723000 2000000 14148000 15085000 0.0128 0.0120 0.0105 31000000 3000 4851000 4854000 716000 2312000 3028000 2922000 602000 3524000 873000 1766000 2639000 3000 0 0 4851000 0 0 4851000 3000 716000 0 0 2312000 0 0 2312000 716000 P1Y 869000000 30000000 23600000 6400000 49700000 49700000 0 674000000 674000000 0 115300000 115300000 0 862600000 6400000 31500000 24700000 6800000 54400000 54400000 0 705300000 705300000 0 130900000 130900000 0 915300000 6800000 922100000 34582000 34726000 -0.77 2.46 -0.77 2.45 P2Y10M9D 400000 529631000 430973000 430973000 0 0 31433000 0 31433000 0 1445000 0 0 1445000 529631000 65780000 430973000 31433000 1445000 616500000 513908000 513908000 0 0 33739000 0 33739000 0 1213000 0 0 1213000 616500000 67640000 513908000 33739000 1213000 -31000 111000 0 343000 1481000 1450000 1445000 1213000 -58532000 -11886000 -41000 -46213000 -58491000 -392000 53687000 31000 49775000 104196000 734000 104227000 3000 0 4851000 362674000 0 0 4854000 362674000 4851000 3000 716000 0 2312000 372638000 0 0 0 3028000 372638000 2312000 716000 P11Y P10Y P24Y P11Y P10Y P24Y 58614000 47897000 4300000 6417000 59875000 48998000 4300000 6577000 5819000 3802000 714000 878000 902000 922000 13037000 30900000 31800000 42796000 42796000 0 0 0 0 -59700000 -59699000 167169000 167200000 -17092000 31302000 38885000 27051000 6000 36000 24761000 22742000 -19537000 -15901000 17087000 -31338000 4058000 4592000 20360000 -41800000 7103000 7960000 35117000 24923000 -3673000 -106588000 48417000 37480000 74148000 53048000 4300000 15400000 1400000 74312000 53212000 4300000 15400000 1400000 15534000 5151000 0 8983000 1400000 14437000 4214000 0 8823000 1400000 31500000 31510000 34200000 34174000 4300000 4266000 4256000 4300000 8250000 8268000 3768091000 4061224000 5557000 3768091000 5588000 4061224000 3600000 3929 0.0329 P8Y P1Y 46474000 2446000 4130000 7573000 9699000 12455000 10171000 3035000 3816045000 3887426000 5433729000 5606720000 1510613000 1530973000 1829412000 1787612000 1829412000 1787612000 254841000 274273000 345826000 344718000 6000000 632234000 630416000 1446612000 1478179000 1648553000 1659978000 P5Y 50000000 0.00225 0.00125 0.0015 27600000 11000000 208000000 -34582000 -34273000 -45112000 -184600000 78351000 174687000 -42600000 -42607000 135867000 135900000 371734000 371734000 371834000 371834000 1 11 3190 0 43439000 43000000 3316 0 41275000 41000000 P3Y10M25D P7Y P1Y 12812000 3659000 6972000 8732000 11547000 1966000 45008000 29536000 65399000 67489000 2300000 2325000 2300000 2250000 263647000 267456000 6132000 6330000 206400000 202600000 3800000 212500000 3400000 215900000 27600000 600667000 618991000 -3044000 -1421000 -57110000 113287000 34582000 34726000 213947000 146592000 6206000 8430000 632200000 632234000 628300000 3900000 626800000 3600000 630416000 630400000 606543000 630229000 808084000 808100000 28400000 20600000 7800000 44900000 44900000 0 627000000 627000000 0 107800000 107800000 0 800300000 7800000 28700000 21600000 7100000 49600000 49600000 0 672600000 672600000 0 119300000 119300000 0 863100000 7100000 870200000 870245000 555038000 579963000 62673000 80099000 60238000 15197000 12200000 0 453000 153023000 155844000 0.179 0.25 0.25 0.15 0.15 -58735000 -58700000 111074000 111100000 1000000 -58000000 221088000 114500000 10000000 205000000 1519658000 1620799000 4300000 4200000 0 0 783184000 1017743000 1892 10000000 23000 16000 P4Y P10Y 0.0540 0.3318 0.0262 4900000 4830000 80000 P72M 70000 10000 8.09 253299000 236515000 205043000 31472000 16784000 0 16784000 0 0 0 253299000 205043000 48256000 367351000 347482000 314681000 32801000 19869000 0 19869000 0 0 0 367351000 314681000 52670000 0 0 453000 97523000 1663864000 1684221000 97546000 1586675000 1617684000 98026000 1519658000 1719294000 98495000 1620799000 589582000 629054000 42652000 1362000 24800000 22400000 2985161000 25003000 0 0 0 0 0 25003000 2960158000 2620132000 37761000 165789000 105524000 30952000 0 0 0 0 0 0 0 0 2985161000 2620132000 37761000 165789000 105524000 30952000 25003000 3077373000 23786000 0 0 0 0 0 23786000 3053587000 2695108000 39054000 172963000 118024000 28438000 0 0 0 0 0 0 0 0 3077373000 2695108000 39054000 172963000 118024000 28438000 23786000 200000 -30500000 -30600000 100000 23800000 100000 23900000 1236181000 1273661000 71000 375000000 0 375000000 0 739 55332000 55348000 55332000 55341000 <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplemental balance sheet information related to leases was as follows:</font></div><div style="line-height:120%;text-align:center;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:77%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">March&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating lease ROU assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41,275</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating lease liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">43,439</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the fair values of financial instruments:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:71%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,061,224</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,768,091</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Note receivable</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,588</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,557</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total return swap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,312</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,851</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Options sold</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">716</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unsecured notes</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">372,638</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,674</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the Company&#8217;s net premiums earned and direct premiums written by line of insurance business:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90243902439025%;border-collapse:collapse;text-align:left;"><tr><td colspan="24" rowspan="1"></td></tr><tr><td style="width:47%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="23" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property &amp; Casualty</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property &amp; Casualty</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private passenger automobile</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">672.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">672.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">627.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">627.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Homeowners</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">119.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">119.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">107.8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">107.8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Commercial automobile</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">44.9</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">44.9</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21.6</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">28.7</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">20.6</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.8</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">28.4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net premiums earned</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">863.1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">870.2</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">800.3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.8</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">808.1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private passenger automobile</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">705.3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">705.3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">674.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">674.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Homeowners</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">130.9</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">130.9</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">115.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">115.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Commercial automobile</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">54.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">54.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49.7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49.7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24.7</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6.8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">31.5</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">23.6</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6.4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">30.0</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Direct premiums written</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">915.3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6.8</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">922.1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">862.6</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6.4</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">869.0</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gains (Losses)&#160;Recognized&#160;in Income</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Total return swap - Net realized investment gains (losses)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,766</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">602</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Options sold - Net realized investment gains (losses)</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">873</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,922</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,639</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,524</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred policy acquisition costs consist of commissions paid to outside agents, premium taxes, salaries, and certain other underwriting costs that are incremental or directly related to the successful acquisition of new and renewal insurance contracts and are amortized over the life of the related policy in proportion to premiums earned. Deferred policy acquisition costs are limited to the amount that will remain after deducting from unearned premiums and anticipated investment income, the estimated losses and loss adjustment expenses, and the servicing costs that will be incurred as premiums are earned. The Company&#8217;s deferred policy acquisition costs are further limited by excluding those costs not directly related to the successful acquisition of insurance contracts. Deferred policy acquisition cost amortization was </font><font style="font-family:inherit;font-size:10pt;">$148.4 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$141.0 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively. The Company does not defer advertising expenditures but expenses them as incurred. The Company recorded net advertising expense of approximately </font><font style="font-family:inherit;font-size:10pt;">$13.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$13.7 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Contingencies</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is, from time to time, named as a defendant in various lawsuits or regulatory actions incidental to its insurance business. The majority of lawsuits brought against the Company relate to insurance claims that arise in the normal course of business and are reserved for through the reserving process. For a discussion of the Company&#8217;s reserving methods, see the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2006, the California DOI issued an Amended Notice of Non-Compliance to a Notice of Non-Compliance originally issued in February 2004 (as amended, &#8220;2004 NNC&#8221;) alleging that the Company charged rates in violation of the California Insurance Code, willfully permitted its agents to charge broker fees in violation of California law, and willfully misrepresented the actual price insurance consumers could expect to pay for insurance by the amount of a fee charged by the consumer's insurance broker. The California DOI sought to impose a fine for each policy on which the Company allegedly permitted an agent to charge a broker fee, to impose a penalty for each policy on which the Company allegedly used a misleading advertisement, and to suspend certificates of authority for a period of one year. In January 2012, the administrative law judge bifurcated the 2004 NNC between (a) the California DOI&#8217;s order to show cause (the &#8220;OSC&#8221;), in which the California DOI asserts the false advertising allegations and accusation, and (b) the California DOI&#8217;s notice of noncompliance (the &#8220;NNC&#8221;), in which the California DOI asserts the unlawful rate allegations. In February 2012, the administrative law judge (&#8220;ALJ&#8221;) submitted a proposed decision dismissing the NNC, but the Commissioner rejected the ALJ&#8217;s proposed decision. The Company challenged the rejection in Los Angeles Superior Court in April 2012, and the Commissioner responded with a demurrer. Following a hearing, the Superior Court sustained the Commissioner&#8217;s demurrer, based on the Company&#8217;s failure to exhaust its administrative remedies, and the Company appealed. The Court of Appeal affirmed the Superior Court's ruling that the Company was required to exhaust its administrative remedies, but expressly preserved for later appeal the legal basis for the ALJ&#8217;s dismissal: violation of the Company&#8217;s due process rights. Following an evidentiary hearing in April 2013, post-hearing briefs, and an unsuccessful mediation, the ALJ closed the evidentiary record on April 30, 2014. Although a proposed decision was to be submitted to the Commissioner on or before June 30, 2014, after which the Commissioner would have 100 days to accept, reject or modify the proposed decision, the proposed decision was not submitted until December 8, 2014. On January 7, 2015, the Commissioner adopted the ALJ&#8217;s proposed decision, which became the Commissioner&#8217;s adopted order (the "Order"). The decision and Order found that from the period July 1, 1996, through 2006, the Company&#8217;s "brokers" were actually operating as "de facto agents" and that the charging of "broker fees" by these producers constituted the charging of "premium" in excess of the Company's approved rates, and assessed a civil penalty in the amount of </font><font style="font-family:inherit;font-size:10pt;">$27.6 million</font><font style="font-family:inherit;font-size:10pt;"> against the Company. On February 9, 2015, the Company filed a Writ of Administrative Mandamus and Complaint for Declaratory Relief (the &#8220;Writ&#8221;) in the Orange County Superior Court seeking, among other things, to require the Commissioner to vacate the Order, to stay the Order while the Superior Court action is pending, and to judicially declare as invalid the Commissioner&#8217;s interpretation of certain provisions of the California Insurance Code. Subsequent to the filing of the Writ, a consumer group petitioned and was granted the right to intervene in the Superior Court action. The Court did not order a stay, and the </font><font style="font-family:inherit;font-size:10pt;">$27.6 million</font><font style="font-family:inherit;font-size:10pt;"> assessed penalty was paid in March 2015. The Company filed an amended Writ on September 11, 2015, adding an explicit request for a refund of the penalty, with interest. </font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On August 12, 2016, the Superior Court issued its ruling on the Writ, for the most part granting the relief sought by the Company. The Superior Court found that the Commissioner and the California DOI did commit due process violations, but declined to dismiss the case on those grounds. The Superior Court also agreed with the Company that the broker fees at issue were not premium, and that the penalties imposed by the Commissioner were improper, and therefore vacated the Order imposing the penalty. The Superior Court entered final judgment on November 17, 2016, issuing a writ requiring the Commissioner to refund the entire penalty amount within 120 days, plus prejudgment interest at the statutory rate of </font><font style="font-family:inherit;font-size:10pt;">7%</font><font style="font-family:inherit;font-size:10pt;">. On January 12, 2017, the California DOI filed a notice of appeal of the Superior Court's judgment entered on November 17, 2016. While the appeal is still pending, the California DOI returned the entire penalty amount plus accrued interest, a total of </font><font style="font-family:inherit;font-size:10pt;">$30.9 million</font><font style="font-family:inherit;font-size:10pt;">, to the Company in June 2017 in order to avoid accruing further interest. Because the matter has been appealed, the Company has not yet recognized the </font><font style="font-family:inherit;font-size:10pt;">$30.9 million</font><font style="font-family:inherit;font-size:10pt;"> as a gain in the consolidated statements of operations; instead, the Company recorded the </font><font style="font-family:inherit;font-size:10pt;">$30.9 million</font><font style="font-family:inherit;font-size:10pt;"> plus interest earned, a total of approximately </font><font style="font-family:inherit;font-size:10pt;">$31.8 million</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, in other liabilities in the consolidated balance sheets. The Company had filed a motion to dismiss the false advertising portion of the case based on the Superior Court's findings, but the ALJ denied that motion after the appeal was filed. The ALJ did, however, grant the Company's alternative request to stay further proceedings pending the final determination of the appeal. The Company has accrued a liability for the estimated cost to continue to defend itself in the false advertising OSC. Based upon its understanding of the facts and the California Insurance Code, the Company does not expect that the ultimate resolution of the false advertising OSC will be material to its financial position. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company establishes reserves for non-insurance claims related lawsuits, regulatory actions, and other contingencies when the Company believes a loss is probable and is able to estimate its potential exposure. For loss contingencies believed to be reasonably possible, the Company also discloses the nature of the loss contingency and an estimate of the possible loss, range of loss, or a statement that such an estimate cannot be made. While actual losses may differ from the amounts recorded and the ultimate outcome of the Company's pending actions is generally not yet determinable, the Company does not believe that the ultimate resolution of currently pending legal or regulatory proceedings, either individually or in the aggregate, will have a material adverse effect on its financial condition or cash flows. </font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In all cases, the Company vigorously defends itself unless a reasonable settlement appears appropriate. For a discussion of legal matters, see the Company&#8217;s Annual Report on Form 10-K for the year ended December&#160;31, 2018.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Notes Payable</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents information about the Company's notes payable:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="15" rowspan="1"></td></tr><tr><td style="width:22%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:19%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Lender</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Interest Rate</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Maturity Date</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">March&#160;31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">December&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Senior unsecured notes</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Publicly traded</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4.40%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">March 15, 2027</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">375,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">375,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Unsecured credit facility</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Bank of America and Wells Fargo Bank</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">LIBOR plus 112.5-162.5 basis points</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">March 29, 2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;&#160;&#160;Total principal amount</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">375,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">375,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Less unamortized discount and debt issuance costs</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,166</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,266</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total debt</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">371,834</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">371,734</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 8, 2017, the Company completed a public debt offering issuing </font><font style="font-family:inherit;font-size:10pt;">$375 million</font><font style="font-family:inherit;font-size:10pt;"> of senior notes. The notes are unsecured, senior obligations of the Company with a </font><font style="font-family:inherit;font-size:10pt;">4.4%</font><font style="font-family:inherit;font-size:10pt;"> annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. These notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off amounts outstanding under the existing loan and credit facilities and for general corporate purposes. The Company incurred debt issuance costs of approximately </font><font style="font-family:inherit;font-size:10pt;">$3.4 million</font><font style="font-family:inherit;font-size:10pt;">, inclusive of underwriters' fees. The notes were issued at a slight discount of </font><font style="font-family:inherit;font-size:10pt;">99.847%</font><font style="font-family:inherit;font-size:10pt;"> of par, resulting in the effective annualized interest rate including debt issuance costs of approximately </font><font style="font-family:inherit;font-size:10pt;">4.45%</font><font style="font-family:inherit;font-size:10pt;">. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 29, 2017, the Company entered into an unsecured credit agreement that provides for revolving loans of up to </font><font style="font-family:inherit;font-size:10pt;">$50 million</font><font style="font-family:inherit;font-size:10pt;"> and matures on March 29, 2022. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from LIBOR plus 112.5 basis points when the ratio is under 15% to LIBOR plus 162.5 basis points when the ratio is greater than or equal to 25%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 15% to 22.5 basis points when the ratio is greater than or equal to 25%. The debt to total capital ratio is expressed as a percentage of (a) consolidated debt to (b) consolidated shareholders' equity plus consolidated debt. The Company's debt to total capital ratio was </font><font style="font-family:inherit;font-size:10pt;">17.9%</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, resulting in a </font><font style="font-family:inherit;font-size:10pt;">15</font><font style="font-family:inherit;font-size:10pt;"> basis point commitment fee on the </font><font style="font-family:inherit;font-size:10pt;">$50 million</font><font style="font-family:inherit;font-size:10pt;"> undrawn portion of the credit facility. As of </font><font style="font-family:inherit;font-size:10pt;">April&#160;25, 2019</font><font style="font-family:inherit;font-size:10pt;">, there have been </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> borrowings under this facility. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(3)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The unamortized discount and debt issuance costs are associated with the publicly traded </font><font style="font-family:inherit;font-size:10pt;">$375 million</font><font style="font-family:inherit;font-size:10pt;"> senior unsecured notes. These are amortized to interest expense over the life of the notes, and the unamortized balance is presented in the Company's consolidated balance sheets as a direct deduction from the carrying amount of the debt. The unamortized debt issuance cost of approximately </font><font style="font-family:inherit;font-size:10pt;">$0.2 million</font><font style="font-family:inherit;font-size:10pt;"> associated with the </font><font style="font-family:inherit;font-size:10pt;">$50 million</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">five</font><font style="font-family:inherit;font-size:10pt;">-year unsecured revolving credit facility maturing on March 29, 2022 is included in other assets in the Company's consolidated balance sheets and amortized to interest expense over the term of the credit facility.</font></div></td></tr></table></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Derivative Financial Instruments </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is equity price risk. Equity contracts (options sold) on various equity securities are intended to manage the price risk associated with forecasted purchases or sales of such securities.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company also enters into derivative contracts to enhance returns on its investment portfolio.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;13, 2014</font><font style="font-family:inherit;font-size:10pt;">, Fannette Funding LLC (&#8220;FFL&#8221;), a special purpose investment vehicle formed by and consolidated into the Company, entered into a total return swap agreement with Citibank. Under the agreement, FFL receives the income equivalent on underlying obligations due to Citibank and pays to Citibank interest on the outstanding notional amount of the underlying obligations. The total return swap is secured by approximately </font><font style="font-family:inherit;font-size:10pt;">$31 million</font><font style="font-family:inherit;font-size:10pt;"> of U.S. Treasuries as collateral, which are included in short-term investments on the consolidated balance sheets. The Company paid interest at the rate of LIBOR plus </font><font style="font-family:inherit;font-size:10pt;">128</font><font style="font-family:inherit;font-size:10pt;"> basis points prior to the renewal of the agreement in January 2018, LIBOR plus </font><font style="font-family:inherit;font-size:10pt;">120</font><font style="font-family:inherit;font-size:10pt;"> basis points subsequent to the January 2018 renewal through July 2018, and LIBOR plus </font><font style="font-family:inherit;font-size:10pt;">105</font><font style="font-family:inherit;font-size:10pt;"> basis points subsequent to the July 2018 renewal on the outstanding notional amount of the underlying obligations, which was approximately </font><font style="font-family:inherit;font-size:10pt;">$106 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$100 million</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, respectively. The agreement had an initial term of </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> year, subject to periodic renewal. In July 2018, the agreement was renewed through January 24, 2020, and the interest rate was changed to LIBOR plus </font><font style="font-family:inherit;font-size:10pt;">105</font><font style="font-family:inherit;font-size:10pt;"> basis points.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present the location and amounts of derivative fair values in the consolidated balance sheets and derivative gains or losses in the consolidated statements of operations:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Liability Derivatives </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amount in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Options sold - Other liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">716</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total return swap - Other liabilities </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,312</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,851</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total derivatives</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,028</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,854</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gains (Losses)&#160;Recognized&#160;in Income</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Total return swap - Net realized investment gains (losses)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,766</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">602</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Options sold - Net realized investment gains (losses)</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">873</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,922</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,639</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,524</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Most options sold consist of covered calls. The Company writes covered calls on underlying equity positions held as an enhanced income strategy that is permitted for the Company&#8217;s insurance subsidiaries under statutory regulations. The Company manages the risk associated with covered calls through strict capital limitations and asset diversification throughout various industries. See Note 5. Fair Value Measurements for additional disclosures regarding options sold.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recently Issued Accounting Standards</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, "</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.</font><font style="font-family:inherit;font-size:10pt;">" ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software under Subtopic 350-40. This ASU also requires an entity to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement and present such expense in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The entity is also required to present the capitalized implementation costs in the statement of financial position in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented. ASU 2018-15 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company is in the process of evaluating the impact of ASU 2018-15 on its consolidated financial statements and related disclosures. </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-13, "</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement</font><font style="font-family:inherit;font-size:10pt;">." The amendments in this ASU require certain existing disclosure requirements in Topic 820 to be modified or removed, and certain new disclosure requirements to be added to the Topic. In addition, this ASU allows entities to exercise more discretion when considering fair value measurement disclosures. ASU 2018-13 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company is in the process of evaluating the impact of ASU 2018-13 on its consolidated financial statements and related disclosures.</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued ASU 2017-04, "</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment.</font><font style="font-family:inherit;font-size:10pt;">" ASU 2017-04 removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of Step 2 of the goodwill impairment test and requires an entity to recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. ASU 2017-04 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company does not anticipate that ASU 2017-04 will have a material impact on its consolidated financial statements and related disclosures.</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2016, the FASB issued ASU 2016-13, "</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Instruments - Credit Losses (Topic 326).</font><font style="font-family:inherit;font-size:10pt;">" The amendments in this ASU replace the "incurred loss" methodology for recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of information including past events, current conditions and reasonable and supportable forecasts that affect the collectibility of reported amounts of financial assets that are not accounted for at fair value through net income, such as loans, certain debt securities, trade receivables, net investment in leases, off-balance sheet credit exposures and reinsurance receivables. Under the current GAAP incurred loss methodology, recognition of the full amount of credit losses is generally delayed until the loss is probable of occurring. Current GAAP restricts the ability to record credit losses that are expected, but do not yet meet the probability threshold. Subsequently, the FASB has issued additional ASUs on Topic 326 that do not change the core principle of the guidance in ASU 2016-13 but clarify or address certain aspects of it. ASU 2016-13 and the additional ASUs on Topic 326 will be effective for the Company beginning January 1, 2020. While the Company is in the process of evaluating the impact of ASU 2016-13, it does not expect this ASU to have a material impact on its consolidated financial statements and related disclosures as most of its financial instruments with potential exposure to material credit losses are accounted for at fair value through net income.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Share-Based Compensation </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2015, the Company's Board of Directors adopted the 2015 Incentive Award Plan (the "2015 Plan"), replacing the 2005 Equity Incentive Plan which expired in January 2015. The 2015 Plan was approved at the Company's Annual Meeting of Shareholders in May 2015. A maximum of </font><font style="font-family:inherit;font-size:10pt;">4,900,000</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock are authorized for issuance under the 2015 Plan upon exercise of stock options, stock appreciation rights and other awards, or upon vesting of restricted stock unit ("RSU") or deferred stock awards. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company had </font><font style="font-family:inherit;font-size:10pt;">70,000</font><font style="font-family:inherit;font-size:10pt;"> stock options granted and outstanding and </font><font style="font-family:inherit;font-size:10pt;">4,830,000</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock available for future grant under the 2015 Plan. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Share-based compensation expenses for all stock options granted or modified are based on their estimated grant-date fair values. These compensation costs are recognized on a straight-line basis over the requisite service period of the award. The Company estimates forfeitures expected to occur in determining the amount of compensation cost to be recognized in each period. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, all outstanding stock options have a term of </font><font style="font-family:inherit;font-size:10pt;">ten</font><font style="font-family:inherit;font-size:10pt;"> years from the date of grant and become exercisable in four equal installments on the first through fourth anniversaries of the grant date. The fair value of stock option awards is estimated using the Black-Scholes option pricing model with the grant-date assumptions and weighted-average fair values.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2018, the Compensation Committee of the Company's Board of Directors awarded a total of </font><font style="font-family:inherit;font-size:10pt;">80,000</font><font style="font-family:inherit;font-size:10pt;"> stock options to </font><font style="font-family:inherit;font-size:10pt;">four</font><font style="font-family:inherit;font-size:10pt;"> senior executives under the 2015 Plan which will vest over the </font><font style="font-family:inherit;font-size:10pt;">four</font><font style="font-family:inherit;font-size:10pt;">-year requisite service period. </font><font style="font-family:inherit;font-size:10pt;">10,000</font><font style="font-family:inherit;font-size:10pt;"> of these stock options were forfeited in February 2019 following the departure of a senior executive. The fair values of these stock options were estimated on the date of grant using a closed-form option valuation model (Black-Scholes). </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the assumptions used in the calculation of grant-date fair values of these stock options based on the Black-Scholes option pricing model: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:87%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average grant-date fair value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8.09</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected volatility</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33.18</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Risk-free interest rate</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.62</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected dividend yield</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.40</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected term in months</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">72</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected volatilities are based on historical volatility of the Company&#8217;s stock over the term of the stock options. The Company estimated the expected term of stock options, which represents the period of time that stock options granted are expected to be outstanding, by using historical exercise patterns and post-vesting termination behavior. The risk-free interest rate is determined based on U.S. Treasury yields with equivalent remaining terms in effect at the time of the grant.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company had </font><font style="font-family:inherit;font-size:10pt;">$0.4 million</font><font style="font-family:inherit;font-size:10pt;"> of unrecognized compensation expense related to stock options awarded under the 2015 Plan, which will be recognized ratably over the remaining vesting period of approximately </font><font style="font-family:inherit;font-size:10pt;">2.9 years</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of each RSU grant was determined based on the market price of the Company's common stock on the grant date for awards classified as equity and on each reporting date for awards classified as liability. The RSUs vested at the end of a </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;">-year performance period beginning with the year of the grant, and then only if, and to the extent that, the Company&#8217;s performance during the performance period achieved the threshold established by the Compensation Committee of the Company&#8217;s Board of Directors. Performance thresholds were based on the Company&#8217;s cumulative underwriting income, annual underwriting income, and net earned premium growth. Compensation cost was recognized based on management&#8217;s best estimate of the performance goals that would be achieved at the end of the performance period, taking into account expected forfeitures. If the minimum performance goals were not expected to be met, no compensation cost was recognized and any recognized compensation cost was reversed. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2019, based on certification by the Compensation Committee of the Company's Board of Directors of the results of the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;">-year performance period ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, all of the outstanding RSUs granted in 2016 expired unvested because the Company did not meet the minimum </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;">-year performance threshold.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2018, based on certification by the Compensation Committee of the Company's Board of Directors of the results of the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;">-year performance period ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, all of the outstanding RSUs granted in 2015 expired unvested because the Company did not meet the minimum </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;">-year performance threshold.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">No</font><font style="font-family:inherit;font-size:10pt;"> RSUs or stock options were awarded during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Potentially dilutive securities representing approximately </font><font style="font-family:inherit;font-size:10pt;">55,000</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock were excluded from the computation of diluted earnings per common share for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> because their effect would have been anti-dilutive.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present the carrying value and fair value of the Company&#8217;s financial instruments disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such instruments are categorized:</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90319457889642%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:34%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 3</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Liabilities</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notes payable:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unsecured notes</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">371,834</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">372,638</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">372,638</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90319457889642%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:34%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 3</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Liabilities</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notes payable:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unsecured notes</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">371,734</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,674</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,674</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present information about the Company&#8217;s assets and liabilities measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values:</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90319457889642%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Assets</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fixed maturity securities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">U.S. government bonds </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,786</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,786</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Municipal securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,695,108</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,695,108</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage-backed securities </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,438</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,438</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Corporate securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">118,024</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">118,024</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Collateralized loan obligations</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">172,963</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">172,963</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other asset-backed securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,054</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,054</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total fixed maturity securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,786</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,053,587</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,077,373</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity securities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Common stock</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">513,908</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">513,908</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-redeemable preferred stock</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33,739</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33,739</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private equity fund</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,213</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,213</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private equity fund measured at net asset value </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">67,640</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total equity securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">513,908</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33,739</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,213</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">616,500</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Short-term investments:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Short-term bonds</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,801</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,869</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,670</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Money market instruments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">314,681</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">314,681</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total short-term investments</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">347,482</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,869</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">367,351</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Note receivable</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,588</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,588</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets at fair value</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">885,176</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,112,783</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,213</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,066,812</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Liabilities</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total return swap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,312</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,312</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Options sold</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">716</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">716</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities at fair value</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">716</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,312</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,028</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90319457889642%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Assets</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fixed maturity securities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">U.S. government bonds</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,003</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,003</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Municipal securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,620,132</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,620,132</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage-backed securities </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,952</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,952</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Corporate securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">105,524</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">105,524</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Collateralized loan obligations</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">165,789</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">165,789</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other asset-backed securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,761</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,761</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total fixed maturity securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,003</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,960,158</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,985,161</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity securities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Common stock</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">430,973</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">430,973</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-redeemable preferred stock</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,433</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,433</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private equity fund</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,445</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,445</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private equity fund measured at net asset value </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">65,780</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total equity securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">430,973</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,433</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,445</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">529,631</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Short-term investments:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Short-term bonds</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,472</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,784</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">48,256</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Money market instruments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">205,043</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">205,043</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total short-term investments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">236,515</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,784</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">253,299</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Note receivable</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,557</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,557</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets at fair value</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">692,491</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,013,932</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,445</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,773,648</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Liabilities</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total return swap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,851</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,851</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Options sold</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities at fair value</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,851</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,854</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________&#160;</font></div><div style="line-height:120%;text-align:justify;padding-left:36px;text-indent:-36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1) </sup></font><font style="font-family:inherit;font-size:10pt;"> The fair value is measured using the NAV practical expedient; therefore, it is not categorized within the fair value hierarchy. The fair value amount is presented in this table to permit reconciliation of the fair value hierarchy to the amounts presented in the Company's consolidated balance sheets.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents a summary of changes in fair value of Level 3 financial assets and financial liabilities:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90319457889642%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:66%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Private&#160;Equity Fund</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,445</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,481</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;Realized gains (losses) included in earnings</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">111</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(31</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Settlements</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(343</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ending balance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,213</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,450</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The amount of total gains (losses) for the period included in earnings attributable to assets still held at March 31</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">103</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(31</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Financial Instruments </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments recorded in the consolidated balance sheets include investments, note receivable, other receivables, options sold, total return swap, accounts payable, and unsecured notes payable. Due to their short-term maturities, the carrying values of other receivables and accounts payable approximate their fair values. All investments are carried at fair value in the consolidated balance sheets. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the fair values of financial instruments:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:71%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,061,224</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,768,091</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Note receivable</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,588</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,557</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total return swap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,312</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,851</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Options sold</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">716</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unsecured notes</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">372,638</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,674</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Investments</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company applies the fair value option to all fixed maturity and equity securities and short-term investments at the time an eligible item is first recognized. The cost of investments sold is determined on a first-in and first-out method and realized gains and losses are included in net realized investment gains (losses) i</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">n the Company's consolidated statements of operations</font><font style="font-family:inherit;font-size:10pt;">. See Note 4. Fair Value Option for additional information.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the normal course of investing activities, the Company either forms or enters into relationships with variable interest entities ("VIEs"). A VIE is an entity that either has investors that lack certain essential characteristics of a controlling financial interest, such as simple majority kick-out rights, or lacks sufficient funds to finance its own activities without financial support provided by other entities. The Company performs ongoing qualitative assessments of the VIEs to determine whether the Company has a controlling financial interest in the VIE and therefore is the primary beneficiary. The Company is deemed to have a controlling financial interest when it has both the ability to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. Based on the Company's assessment, if it determines it is the primary beneficiary, the Company consolidates the VIE in its consolidated financial statements. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company forms special purpose investment vehicles to facilitate its investment activities involving derivative instruments such as total return swaps, or limited partnerships such as private equity funds. These special purpose investment vehicles are consolidated VIEs as the Company has determined it is the primary beneficiary of such VIEs. Creditors have no recourse against the Company in the event of default by these VIEs. The Company had no implied or unfunded commitments to these VIEs at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. The Company's financial or other support provided to these VIEs and its loss exposure are limited to its collateral and original investment. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company also invests directly in limited partnerships such as private equity funds. These investments are non-consolidated VIEs as the Company has determined it is not the primary beneficiary. The Company's maximum exposure to loss is limited to the total carrying value that is included in equity securities in the Company's consolidated balance sheets. At </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company had no outstanding unfunded commitments to these VIEs whereby the Company may be called by the partnerships during the commitment period to fund the purchase of new investments and the expenses of the partnerships. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Note Receivable</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2017, the Company completed the sale of approximately </font><font style="font-family:inherit;font-size:10pt;">six</font><font style="font-family:inherit;font-size:10pt;"> acres of land located in Brea, California (the "Property"), for a total sale price of approximately </font><font style="font-family:inherit;font-size:10pt;">$12.2 million</font><font style="font-family:inherit;font-size:10pt;">. Approximately </font><font style="font-family:inherit;font-size:10pt;">$5.7 million</font><font style="font-family:inherit;font-size:10pt;"> of the total sale price was received in the form of a promissory note (the "Note") and the remainder in cash. The Note is secured by a first trust deed and an assignment of rents on the Property, and bears interest at an annual rate of </font><font style="font-family:inherit;font-size:10pt;">3.5%</font><font style="font-family:inherit;font-size:10pt;">, payable in monthly installments. The Note matures in August 2020. Interest earned on the Note is recognized in other revenues in the Company's consolidated statements of operations. The Company elected to apply the fair value option to the Note at the time it was first recognized. The fair value of note receivable is included in other assets in the Company's consolidated balance sheets, while the changes in fair value of note receivable are included in net realized investment gains or losses in the Company's consolidated statements of operations. </font></div><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Options Sold</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company writes covered call options through listed and over-the-counter exchanges.&#160;When the Company writes an option, an amount equal to the premium received by the Company is recorded as a liability and is subsequently adjusted to the current fair value of the option written.&#160;Premiums received from writing options that expire unexercised are treated by the Company as realized gains from investments on the expiration date.&#160;If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security or currency in determining whether the Company has realized a gain or loss.&#160;The Company, as writer of an option, bears the market risk of an unfavorable change in the price of the security underlying the written option. Liabilities for covered call options are included in other liabilities in the Company's consolidated balance sheets. </font></div><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Total Return Swap</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of the total return swap reflects the estimated amount that, upon termination of the contract, would be received for selling an asset or paid to transfer a liability in an orderly transaction. </font></div><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Unsecured Notes </font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of the Company&#8217;s publicly traded </font><font style="font-family:inherit;font-size:10pt;">$375 million</font><font style="font-family:inherit;font-size:10pt;"> unsecured notes at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> was obtained from a third party pricing service. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For additional disclosures regarding methods and assumptions used in estimating fair values, see Note 5. Fair Value Measurements.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value Measurements </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company employs a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date using the exit price. Accordingly, when market observable data are not readily available, the Company&#8217;s own assumptions are used to reflect those that market participants would be presumed to use in pricing the asset or liability at the measurement date. Assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based on the level of judgment associated with inputs used to measure their fair values and the level of market price observability, as follows:</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.12875121006776%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:92%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Level&#160;1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unadjusted quoted prices are available in active markets for identical assets or liabilities as of the reporting date.</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Level&#160;2</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pricing inputs are other than quoted prices in active markets, which are based on the following:</font></div><div style="font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;&#160;&#160;&#160;&#160;&#160;Quoted prices for similar assets or liabilities in active markets;</font></div><div style="font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;&#160;&#160;&#160;&#160;&#160;Quoted prices for identical or similar assets or liabilities in non-active markets; or</font></div><div style="font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;&#160;&#160;&#160;&#160;&#160;Either directly or indirectly observable inputs as of the reporting date.</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Level&#160;3</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pricing inputs are unobservable and significant to the overall fair value measurement, and the determination of fair value requires significant management judgment or estimation.</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In certain cases, inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Thus, a Level 3 fair value measurement may include inputs that are observable (Level 1 or Level 2) and unobservable (Level 3). The Company&#8217;s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset or liability.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company uses prices and inputs that are current as of the measurement date, including during periods of market disruption. In periods of market disruption, the ability to observe prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified from Level 1 to Level 2, or from Level 2 to Level 3. The Company recognizes transfers between levels at either the actual date of the event or a change in circumstances that caused the transfer.</font></div><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Summary of Significant Valuation Techniques for Financial Assets and Financial Liabilities</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s fair value measurements are based on the market approach, which utilizes market transaction data for the same or similar instruments.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company obtained unadjusted fair values on </font><font style="font-family:inherit;font-size:10pt;">98.3%</font><font style="font-family:inherit;font-size:10pt;"> of its investment portfolio from an independent pricing service. For a private equity fund that was classified as Level 3 and included in equity securities at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company obtained specific unadjusted broker quotes based on net fund value and, to a lesser extent, unobservable inputs from at least </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> knowledgeable outside security broker to determine the fair value. The fair value of the private equity fund was </font><font style="font-family:inherit;font-size:10pt;">$1.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.4 million</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Level 1 measurements</font><font style="font-family:inherit;font-size:10pt;"> - Fair values of financial assets and financial liabilities are obtained from an independent pricing service, and are based on unadjusted quoted prices for identical assets or liabilities in active markets. Additional pricing services and closing exchange values are used as a comparison to ensure that reasonable fair values are used in pricing the investment portfolio.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">U.S. government bonds /Short-term bonds</font><font style="font-family:inherit;font-size:10pt;">: Valued using unadjusted quoted market prices for identical assets in active markets.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Common stock</font><font style="font-family:inherit;font-size:10pt;">: Comprised of actively traded, exchange listed U.S. and international equity securities and valued based on unadjusted quoted prices for identical assets in active markets.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Money market instruments</font><font style="font-family:inherit;font-size:10pt;">: Valued based on unadjusted quoted prices for identical assets in active markets.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Options sold</font><font style="font-family:inherit;font-size:10pt;">: Comprised of free-standing exchange listed derivatives that are actively traded and valued based on unadjusted quoted prices for identical instruments in active markets. </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Level 2 measurements</font><font style="font-family:inherit;font-size:10pt;"> - Fair values of financial assets and financial liabilities are obtained from an independent pricing service or outside brokers, and are based on prices for similar assets or liabilities in active markets or valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability. Additional pricing services are used as a comparison to ensure reliable fair values are used in pricing the investment portfolio.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Municipal securities</font><font style="font-family:inherit;font-size:10pt;">: Valued based on models or matrices using inputs such as quoted prices for identical or similar assets in active markets.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Mortgage-backed securities</font><font style="font-family:inherit;font-size:10pt;">: Comprised of securities that are collateralized by residential and commercial mortgage loans valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets. The Company had holdings of </font><font style="font-family:inherit;font-size:10pt;">$22.4 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$24.8 million</font><font style="font-family:inherit;font-size:10pt;"> in commercial mortgage-backed securities at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Corporate securities/Short-term bonds</font><font style="font-family:inherit;font-size:10pt;">: Valued based on a multi-dimensional model using multiple observable inputs, such as benchmark yields, reported trades, broker/dealer quotes and issue spreads, for identical or similar assets in active markets.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Non-redeemable preferred stock</font><font style="font-family:inherit;font-size:10pt;">: Valued based on observable inputs, such as underlying and common stock of same issuer and appropriate spread over a comparable U.S. Treasury security, for identical or similar assets in active markets.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Total return swap</font><font style="font-family:inherit;font-size:10pt;">: Valued based on multi-dimensional models using inputs such as interest rate yield curves, underlying debt/credit instruments and the appropriate benchmark spread for similar assets in active markets, observable for substantially the full term of the contract.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Collateralized loan obligations ("CLOs")</font><font style="font-family:inherit;font-size:10pt;">: Valued based on underlying debt instruments and the appropriate benchmark spread for similar assets in active markets.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Other asset-backed securities</font><font style="font-family:inherit;font-size:10pt;">: Comprised of securities that are collateralized by non-mortgage assets, such as automobile loans, valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Note receivable</font><font style="font-family:inherit;font-size:10pt;">: Valued based on observable inputs, such as benchmark yields, and considering any premium or discount for the differential between the stated interest rate and market interest rates, based on quoted market prices of similar instruments.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Level 3 measurements</font><font style="font-family:inherit;font-size:10pt;"> - Fair values of financial assets are based on inputs that are both unobservable and significant to the overall fair value measurement, including any items in which the evaluated prices obtained elsewhere were deemed to be of a distressed trading level.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Private equity fund</font><font style="font-family:inherit;font-size:10pt;">: Private equity fund, excluding a private equity fund measured at net asset value ("NAV"), is valued based on underlying investments of the fund or assets similar to such investments in active markets, taking into consideration specific unadjusted broker quotes based on net fund value and unobservable inputs from at least </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> knowledgeable outside security broker related to liquidity assumptions.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fair value measurement using NAV practical expedient</font><font style="font-family:inherit;font-size:10pt;"> - The fair value of the Company's investment in private equity fund measured at net asset value is determined using NAV as advised by the external fund manager and the third party administrator. The NAV of the Company's limited partnership interest in this fund is based on the manager's and the administrator's valuation of the underlying holdings in accordance with the fund's governing documents and GAAP. In accordance with applicable accounting guidance, this investment, measured at fair value using the NAV practical expedient, is not classified in the fair value hierarchy. The strategy of the fund is to provide current income to investors by investing mainly in equity tranches and sub-investment grade rated debt tranches of CLO issuers in the new and secondary markets, and equity interests in vehicles established to purchase and warehouse loans in anticipation of a CLO closing or to satisfy regulatory risk retention requirements associated with certain CLOs. The Company has made all of its capital contributions in the fund and had no outstanding unfunded commitments at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> with respect to this fund. The underlying assets of the fund are expected to be liquidated over the period of approximately one to four years from </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">. The Company does not have the contractual option to redeem but will receive distributions based on the liquidation of the underlying assets and the interest proceeds from the underlying assets. In addition, the Company does not have the ability to withdraw from the fund, or to sell, assign, pledge or transfer its investment, without the consent from the general partner of the fund. </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s financial instruments at fair value are reflected in the consolidated balance sheets on a trade-date basis. Related unrealized gains or losses are recognized in net realized investment gains or losses in the consolidated statements of operations. Fair value measurements are not adjusted for transaction costs.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present information about the Company&#8217;s assets and liabilities measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values:</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90319457889642%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Assets</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fixed maturity securities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">U.S. government bonds </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,786</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,786</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Municipal securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,695,108</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,695,108</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage-backed securities </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,438</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,438</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Corporate securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">118,024</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">118,024</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Collateralized loan obligations</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">172,963</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">172,963</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other asset-backed securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,054</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,054</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total fixed maturity securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,786</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,053,587</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,077,373</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity securities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Common stock</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">513,908</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">513,908</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-redeemable preferred stock</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33,739</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33,739</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private equity fund</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,213</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,213</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private equity fund measured at net asset value </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">67,640</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total equity securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">513,908</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33,739</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,213</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">616,500</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Short-term investments:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Short-term bonds</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,801</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,869</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,670</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Money market instruments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">314,681</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">314,681</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total short-term investments</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">347,482</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,869</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">367,351</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Note receivable</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,588</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,588</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets at fair value</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">885,176</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,112,783</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,213</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,066,812</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Liabilities</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total return swap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,312</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,312</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Options sold</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">716</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">716</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities at fair value</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">716</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,312</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,028</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90319457889642%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Assets</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fixed maturity securities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">U.S. government bonds</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,003</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,003</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Municipal securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,620,132</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,620,132</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage-backed securities </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,952</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,952</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Corporate securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">105,524</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">105,524</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Collateralized loan obligations</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">165,789</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">165,789</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other asset-backed securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,761</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,761</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total fixed maturity securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,003</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,960,158</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,985,161</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity securities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Common stock</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">430,973</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">430,973</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-redeemable preferred stock</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,433</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,433</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private equity fund</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,445</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,445</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private equity fund measured at net asset value </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">65,780</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total equity securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">430,973</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,433</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,445</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">529,631</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Short-term investments:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Short-term bonds</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,472</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,784</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">48,256</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Money market instruments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">205,043</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">205,043</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total short-term investments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">236,515</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,784</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">253,299</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Note receivable</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,557</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,557</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets at fair value</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">692,491</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,013,932</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,445</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,773,648</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Liabilities</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total return swap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,851</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,851</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Options sold</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:84px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities at fair value</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,851</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,854</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________&#160;</font></div><div style="line-height:120%;text-align:justify;padding-left:36px;text-indent:-36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1) </sup></font><font style="font-family:inherit;font-size:10pt;"> The fair value is measured using the NAV practical expedient; therefore, it is not categorized within the fair value hierarchy. The fair value amount is presented in this table to permit reconciliation of the fair value hierarchy to the amounts presented in the Company's consolidated balance sheets.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents a summary of changes in fair value of Level 3 financial assets and financial liabilities:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90319457889642%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:66%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Private&#160;Equity Fund</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,445</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,481</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;Realized gains (losses) included in earnings</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">111</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(31</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Settlements</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(343</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ending balance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,213</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,450</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The amount of total gains (losses) for the period included in earnings attributable to assets still held at March 31</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">103</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(31</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There were </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> transfers between Levels 1, 2, and 3 of the fair value hierarchy during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company did not have any nonrecurring fair value measurements of nonfinancial assets or nonfinancial liabilities.</font></div><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Financial Instruments Disclosed, But Not Carried, at Fair Value</font></div><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present the carrying value and fair value of the Company&#8217;s financial instruments disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such instruments are categorized:</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90319457889642%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:34%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 3</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Liabilities</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notes payable:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unsecured notes</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">371,834</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">372,638</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">372,638</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90319457889642%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:34%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level 3</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Liabilities</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notes payable:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unsecured notes</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">371,734</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,674</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,674</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Unsecured Notes</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of the Company&#8217;s publicly traded </font><font style="font-family:inherit;font-size:10pt;">$375 million</font><font style="font-family:inherit;font-size:10pt;"> unsecured notes at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> was based on the spreads above the risk-free yield curve. These spreads are generally obtained from the new issue market, secondary trading and broker-dealer quotes. </font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">See Note 12. Notes Payable for additional information on unsecured notes.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value Option</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company applies the fair value option to all fixed maturity and equity investment securities and short-term investments at the time an eligible item is first recognized. In addition, the Company elected to apply the fair value option to the note receivable recognized as part of the sale of land in August 2017. The primary reasons for electing the fair value option were simplification and cost-benefit considerations as well as the expansion of the use of fair value measurement by the Company consistent with the long-term measurement objectives of the FASB for accounting for financial instruments.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gains or losses due to changes in fair value of financial instruments measured at fair value pursuant to application of the fair value option are included in net realized investment gains or losses in the Company&#8217;s consolidated statements of operations. Interest and dividend income on investment holdings are recognized on an accrual basis at each measurement date and are included in net investment income in the Company&#8217;s consolidated statements of operations, while interest earned on the note receivable is included in other revenues in the Company&#8217;s consolidated statements of operations.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents gains (losses) due to changes in fair value of investments and the note receivable that are measured at fair value pursuant to the application of the fair value option:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fixed maturity securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">49,775</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(46,213</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,687</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(11,886</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Short-term investments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">734</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(392</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;Total investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">104,196</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(58,491</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Note receivable</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(41</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total gains (losses)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">104,227</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(58,532</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Goodwill and Other Intangible Assets </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Goodwill</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There were no changes in the carrying amount of goodwill during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">. Goodwill is reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">. All of the Company's goodwill is associated with the Property and Casualty business segment (See Note 14. Segment Information for additional information on the reportable business segment).</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Other Intangible Assets</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the components of other intangible assets:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.21875%;border-collapse:collapse;text-align:left;"><tr><td colspan="14" rowspan="1"></td></tr><tr><td style="width:41%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross&#160;Carrying</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Accumulated</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amortization</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Net&#160;Carrying</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Useful&#160;Lives</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(in years)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#cceeff;font-weight:bold;">As of March 31, 2019:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Customer relationships</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,212</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(48,998</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,214</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Trade names</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,400</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,577</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,823</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Technology</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,300</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,300</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Insurance license</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,400</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,400</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indefinite</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total other intangible assets, net</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74,312</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(59,875</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,437</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">As of December 31, 2018:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Customer relationships</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,048</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(47,897</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,151</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Trade names</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,400</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,417</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,983</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Technology</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,300</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,300</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Insurance license</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,400</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,400</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indefinite</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total other intangible assets, net</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74,148</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(58,614</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,534</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other intangible assets are reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other intangible assets with definite useful lives are amortized on a straight-line basis over their useful lives. Other intangible assets amortization expense was </font><font style="font-family:inherit;font-size:10pt;">$1.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.4 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the estimated future amortization expense related to other intangible assets as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:60%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:18%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Year</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Amortization&#160;Expense</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts&#160;in&#160;thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Remainder of 2019</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,802</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">922</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">902</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">878</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">714</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Thereafter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,819</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,037</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Income Taxes</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For financial statement purposes, the Company recognizes tax benefits related to positions taken, or expected to be taken, on a tax return only if, the positions are &#8220;more-likely-than-not&#8221; sustainable. Once this threshold has been met, the Company&#8217;s measurement of its expected tax benefits is recognized in its consolidated financial statements.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There was a </font><font style="font-family:inherit;font-size:10pt;">$71,000</font><font style="font-family:inherit;font-size:10pt;"> increase to the total amount of unrecognized tax benefits related to tax uncertainties during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">. The increase was the result of tax positions taken regarding California state tax issues based on management&#8217;s best judgment given the facts, circumstances, and information available at the reporting date. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company and its subsidiaries file income tax returns with the Internal Revenue Service and the taxing authorities of various states. Tax years that remain subject to examination by major taxing jurisdictions are 2015 through 2017 for federal taxes and 2011 through 2017 for California state taxes. For tax years 2003 through 2010, the Company achieved a resolution with the Franchise Tax Board (&#8220;FTB&#8221;) in December 2017 and paid a negotiated settlement amount in accordance with the settlement agreement provided by the FTB and signed by the Company. The settlement agreement was approved and executed in the first quarter of 2019.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is currently under examination for tax years 2011 through 2016. For tax years 2011 through 2013, the FTB issued Notices of Proposed Assessments ("NPAs") to the Company, for which the Company submitted a formal protest in 2018. If a reasonable settlement is not reached, the Company intends to pursue other options, including a formal hearing with the FTB, an appeal with the California Office of Tax Appeals, or litigation in Superior Court. For tax years 2014 through 2016, the FTB commenced its audit in December 2017 and has not yet completed its audit.</font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company believes that the resolution of these examinations and assessments will not have a material impact on the consolidated financial statements. </font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting basis and the respective tax basis of the Company&#8217;s assets and liabilities, and expected benefits of utilizing net operating loss, capital loss, and tax-credit carryforwards. The Company assesses the likelihood that its deferred tax assets will be realized and, to the extent management does not believe these assets are more likely than not to be realized, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or laws is recognized in earnings in the period that includes the enactment date.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company&#8217;s deferred income taxes were in a net liability position, which included a combination of ordinary and capital deferred tax expenses or benefits. In assessing the Company&#8217;s ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.&#160;The ultimate realization of deferred tax assets is dependent upon generating sufficient taxable income of the appropriate character within the carryback and carryforward periods available under the tax law. Management considers the reversal of deferred tax liabilities, projected future taxable income of an appropriate nature, and tax planning strategies in making this assessment. The Company believes that through the use of prudent tax planning strategies and the generation of capital gains, sufficient income will be realized in order to maximize the full benefits of its deferred tax assets. Although realization is not assured, management believes that it is more likely than not that the Company&#8217;s deferred tax assets will be realized.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The components of lease expense were as follows:</font></div><div style="line-height:120%;text-align:center;padding-left:0px;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90167158308752%;border-collapse:collapse;text-align:left;"><tr><td colspan="7" rowspan="1"></td></tr><tr><td style="width:49%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:27%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Three Months Ended March 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Lease Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Classification</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating lease cost </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other operating expenses</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,190</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Variable lease cost </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other operating expenses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">739</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total lease cost</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,929</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________&#160;</font></div><div style="line-height:120%;text-align:justify;padding-left:36px;text-indent:-36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1) </sup></font><font style="font-family:inherit;font-size:10pt;"> Includes short-term leases, which are immaterial.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average lease term and discount rate were as follows:</font></div><div style="line-height:120%;text-align:center;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:77%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:21%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">March&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average remaining lease term (in years):</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Operating leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.9</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average discount rate:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Operating leases</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.29</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplemental cash flow and other information related to leases was as follows:</font></div><div style="line-height:120%;text-align:center;padding-left:0px;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90167158308752%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:77%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Three Months Ended March 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash paid for amounts included in the measurement of lease liabilities:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Operating cash flows from operating leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,316</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROU assets obtained in exchange for lease liabilities:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Operating leases</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,892</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Maturities of lease liabilities as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> were as follows:</font></div><div style="line-height:120%;text-align:center;padding-left:0px;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:77%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Year</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Operating Leases</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts&#160;in&#160;thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Remainder of 2019</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,171</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,455</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,699</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,573</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,130</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2024 and thereafter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,446</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total lease payments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46,474</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: Imputed interest</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,035</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total lease obligations</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">43,439</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> Leases </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company adopted ASU 2016-02, "Leases (Topic 842)," which supersedes the guidance in Accounting Standards Codification ("ASC") 840, "Leases," on January 1, 2019, using a modified retrospective transition, with the cumulative-effect adjustment to the opening balance of retained earnings as of the effective date (the "effective date method"). Under the effective date method, financial results reported in periods prior to 2019 are unchanged. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company not to reassess (a) whether arrangements contain leases, (b) lease classification and (c) initial direct costs. Adoption of the new standard resulted in the recognition of operating lease right-of-use ("ROU") assets and operating lease liabilities of approximately </font><font style="font-family:inherit;font-size:10pt;">$41 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$43 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, at the adoption date for the Company's operating leases. The difference of approximately </font><font style="font-family:inherit;font-size:10pt;">$2 million</font><font style="font-family:inherit;font-size:10pt;"> between the operating lease ROU assets and operating lease liabilities represents reclassification of deferred rent liability (the difference between the straight-line rent expenses and paid rent amounts under the leases) to operating lease ROU assets from other liabilities at the adoption date. The Company did not have any cumulative-effect adjustment as a result of the adoption. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has operating leases for office space for insurance operations and administrative functions, automobiles for general uses and certain employees, and office equipment such as printers and computers. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company's leases had remaining terms ranging from less than </font><font style="font-family:inherit;font-size:10pt;">one year</font><font style="font-family:inherit;font-size:10pt;"> to approximately </font><font style="font-family:inherit;font-size:10pt;">7 years</font><font style="font-family:inherit;font-size:10pt;">. These leases may contain provisions for periodic adjustments to rates and charges applicable under such lease agreements. These rates and charges also may vary with the Company's level of uses. Certain of these leases include one or more options to renew or early terminate, and the exercise of these options is at our sole discretion. Certain leases also include options to purchase the leased property. The Company's lease agreements do not contain any residual value guarantees. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease ROU assets and operating lease liabilities in the Company's consolidated balance sheets. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company uses its estimated incremental borrowing rate for office space and office equipment leases, which is derived from information available at the lease commencement date, in determining the present value of lease payments, as the implicit rate is not readily available for such leases. The Company gives consideration to its recent debt issuances as well as publicly available data for instruments with similar characteristics when calculating its incremental borrowing rates. For automobile leases, the Company uses a rate implicit in the lease at the lease commencement date in determining the present value of lease payments, as the readily-determinable implicit rate is provided in such leases. The Company's lease terms include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The Company does not use the short-term lease exemption practical expedient and records all leases on the balance sheets, including leases with a term of twelve months or less. The Company accounts for the lease and non-lease components as a single lease component for all of its leases. Lease expense for scheduled lease payments is recognized on a straight-line basis over the lease term.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The components of lease expense were as follows:</font></div><div style="line-height:120%;text-align:center;padding-left:0px;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90167158308752%;border-collapse:collapse;text-align:left;"><tr><td colspan="7" rowspan="1"></td></tr><tr><td style="width:49%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:27%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Three Months Ended March 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Lease Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Classification</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating lease cost </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other operating expenses</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,190</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Variable lease cost </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other operating expenses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">739</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total lease cost</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,929</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________&#160;</font></div><div style="line-height:120%;text-align:justify;padding-left:36px;text-indent:-36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1) </sup></font><font style="font-family:inherit;font-size:10pt;"> Includes short-term leases, which are immaterial.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplemental balance sheet information related to leases was as follows:</font></div><div style="line-height:120%;text-align:center;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:77%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">March&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating lease ROU assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41,275</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating lease liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">43,439</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average lease term and discount rate were as follows:</font></div><div style="line-height:120%;text-align:center;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:77%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:21%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">March&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average remaining lease term (in years):</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Operating leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.9</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average discount rate:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Operating leases</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.29</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplemental cash flow and other information related to leases was as follows:</font></div><div style="line-height:120%;text-align:center;padding-left:0px;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90167158308752%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:77%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Three Months Ended March 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash paid for amounts included in the measurement of lease liabilities:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Operating cash flows from operating leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,316</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROU assets obtained in exchange for lease liabilities:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Operating leases</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,892</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Maturities of lease liabilities as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> were as follows:</font></div><div style="line-height:120%;text-align:center;padding-left:0px;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:77%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Year</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Operating Leases</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts&#160;in&#160;thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Remainder of 2019</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,171</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,455</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,699</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,573</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,130</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2024 and thereafter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,446</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total lease payments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46,474</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: Imputed interest</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,035</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total lease obligations</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">43,439</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company had additional operating lease commitments that have not yet commenced of approximately </font><font style="font-family:inherit;font-size:10pt;">$6.5 million</font><font style="font-family:inherit;font-size:10pt;"> with each lease term ranging from approximately </font><font style="font-family:inherit;font-size:10pt;">1 year</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">8 years</font><font style="font-family:inherit;font-size:10pt;">. These operating leases will commence in 2019.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Disclosures related to periods prior to adoption of ASC Topic 842</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total rent expense recognized under the Company's various lease agreements was </font><font style="font-family:inherit;font-size:10pt;">$3.6 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. The following table presents future minimum commitments for operating leases as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:77%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Year Ending December 31,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Operating Leases</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts&#160;in&#160;thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#cceeff;">2019</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,812</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,547</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#cceeff;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,732</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,972</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#cceeff;">2023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,659</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Thereafter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,966</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Loss and Loss Adjustment Expense Reserves</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the activity in loss and loss adjustment expense reserves:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gross reserves at</font><font style="font-family:inherit;font-size:10pt;">&#160;</font><font style="font-family:inherit;font-size:10pt;background-color:#cceeff;">January&#160;1</font><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,829,412</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,510,613</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less reinsurance recoverables on unpaid losses</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(180,859</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(64,001</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net reserves at January 1</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,648,553</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,446,612</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Incurred losses and loss adjustment expenses related to:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current year</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">629,054</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">589,582</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Prior years</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,362</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,652</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total incurred losses and loss adjustment expenses</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">630,416</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">632,234</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Loss and loss adjustment expense payments related to:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current year</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">274,273</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">254,841</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Prior years</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">344,718</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">345,826</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total payments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">618,991</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">600,667</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net reserves at March 31</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,659,978</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,478,179</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reinsurance recoverables on unpaid losses</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">127,634</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,794</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gross reserves at March 31</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,787,612</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,530,973</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The increase in the provision for insured events of prior years in </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;"> of approximately </font><font style="font-family:inherit;font-size:10pt;">$1.4 million</font><font style="font-family:inherit;font-size:10pt;"> was primarily attributable to higher than estimated automobile losses, partially offset by lower than estimated California homeowners losses largely due to reductions in the Company's retained losses on the Camp and Woolsey Fires under the Treaty after accounting for the assignment of subrogation rights and re-estimation of reserves as part of normal reserving procedures, as described further below. The increase in the provision for insured events of prior years in </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;"> of approximately </font><font style="font-family:inherit;font-size:10pt;">$42.7 million</font><font style="font-family:inherit;font-size:10pt;"> was primarily attributable to higher than estimated California automobile losses resulting from severity in excess of expectations for bodily injury claims.</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, the Company recorded catastrophe losses net of reinsurance of approximately </font><font style="font-family:inherit;font-size:10pt;">$5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$9 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. Gross catastrophe losses due to the catastrophe events that occurred during the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> totaled approximately </font><font style="font-family:inherit;font-size:10pt;">$11 million</font><font style="font-family:inherit;font-size:10pt;"> resulting primarily from winter storms in California, with no reinsurance benefits used for these losses. These losses were partially offset by favorable development of approximately </font><font style="font-family:inherit;font-size:10pt;">$6 million</font><font style="font-family:inherit;font-size:10pt;"> on prior years' catastrophe losses, primarily from reductions in the Company&#8217;s retained portion of losses on the Camp and Woolsey Fires, as described above and below. The </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;"> catastrophe losses were primarily due to winter storms and mudslides in California and winter storms in the states along the Atlantic Seaboard, with no reinsurance benefits used for these losses.</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the first quarter of </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">, the Company completed the sale of its subrogation rights related to the 2018 Camp and Woolsey Fires and the 2017 Thomas Fire (which was a component of the "2017 Southern California fires") to a third party.&#160;The Company&#8217;s reinsurers were the primary beneficiaries of this transaction, as they had absorbed most of the losses under the terms of the Treaty.&#160;The Company has re-estimated its gross and net losses from the 2018 Camp and Woolsey Fires and the 2017 Southern California fires.&#160;At </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company estimates that its total gross losses from these catastrophes, after accounting for the assignment of subrogation rights and adjustments made to claims reserves as part of normal reserving procedures, were approximately </font><font style="font-family:inherit;font-size:10pt;">$208 million</font><font style="font-family:inherit;font-size:10pt;">, and its total net losses, after reinsurance benefits, were approximately </font><font style="font-family:inherit;font-size:10pt;">$40 million</font><font style="font-family:inherit;font-size:10pt;">.&#160;The Company benefited by approximately </font><font style="font-family:inherit;font-size:10pt;">$10 million</font><font style="font-family:inherit;font-size:10pt;">, before taxes, in the first quarter of </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;"> from the sale of the subrogation rights, including adjustments made to the associated claims as a result of normal reserving procedures, reductions in the Company's retained portion of losses on the Camp and Woolsey Fires, and reduced reinstatement premiums recognized.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, "</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.</font><font style="font-family:inherit;font-size:10pt;">" ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software under Subtopic 350-40. This ASU also requires an entity to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement and present such expense in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The entity is also required to present the capitalized implementation costs in the statement of financial position in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented. ASU 2018-15 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company is in the process of evaluating the impact of ASU 2018-15 on its consolidated financial statements and related disclosures. </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-13, "</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement</font><font style="font-family:inherit;font-size:10pt;">." The amendments in this ASU require certain existing disclosure requirements in Topic 820 to be modified or removed, and certain new disclosure requirements to be added to the Topic. In addition, this ASU allows entities to exercise more discretion when considering fair value measurement disclosures. ASU 2018-13 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company is in the process of evaluating the impact of ASU 2018-13 on its consolidated financial statements and related disclosures.</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued ASU 2017-04, "</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment.</font><font style="font-family:inherit;font-size:10pt;">" ASU 2017-04 removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of Step 2 of the goodwill impairment test and requires an entity to recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. ASU 2017-04 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company does not anticipate that ASU 2017-04 will have a material impact on its consolidated financial statements and related disclosures.</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2016, the FASB issued ASU 2016-13, "</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Instruments - Credit Losses (Topic 326).</font><font style="font-family:inherit;font-size:10pt;">" The amendments in this ASU replace the "incurred loss" methodology for recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of information including past events, current conditions and reasonable and supportable forecasts that affect the collectibility of reported amounts of financial assets that are not accounted for at fair value through net income, such as loans, certain debt securities, trade receivables, net investment in leases, off-balance sheet credit exposures and reinsurance receivables. Under the current GAAP incurred loss methodology, recognition of the full amount of credit losses is generally delayed until the loss is probable of occurring. Current GAAP restricts the ability to record credit losses that are expected, but do not yet meet the probability threshold. Subsequently, the FASB has issued additional ASUs on Topic 326 that do not change the core principle of the guidance in ASU 2016-13 but clarify or address certain aspects of it. ASU 2016-13 and the additional ASUs on Topic 326 will be effective for the Company beginning January 1, 2020. While the Company is in the process of evaluating the impact of ASU 2016-13, it does not expect this ASU to have a material impact on its consolidated financial statements and related disclosures as most of its financial instruments with potential exposure to material credit losses are accounted for at fair value through net income.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">General</font></div><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Consolidation and Basis of Presentation</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The interim consolidated financial statements include the accounts of Mercury General Corporation and its subsidiaries (referred to herein collectively as the &#8220;Company&#8221;). For the list of the Company&#8217;s subsidiaries, see Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. These interim financial statements have been prepared in conformity with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;), which differ in some respects from those filed in reports to insurance regulatory authorities. The financial data of the Company included herein are unaudited. In the opinion of management, all material adjustments of a normal recurring nature have been made to present fairly the Company&#8217;s financial position at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and the results of operations and cash flows for the periods presented. All intercompany transactions and balances have been eliminated.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted from the accompanying interim consolidated financial statements and related notes. Readers are urged to review the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> for more complete descriptions and discussions. Operating results and cash flows for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results that may be expected for the year ending </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified to conform to the current period presentation.</font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates require the Company to apply complex assumptions and judgments, and often the Company must make estimates about the effects of matters that are inherently uncertain and will likely change in subsequent periods. The most significant assumptions in the preparation of these consolidated financial statements relate to reserves for losses and loss adjustment expenses. Actual results could differ from those estimates. See Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Earnings per Share</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There were </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> potentially dilutive securities with anti-dilutive effect for the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">. Potentially dilutive securities representing approximately </font><font style="font-family:inherit;font-size:10pt;">55,000</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock were excluded from the computation of diluted earnings per common share for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> because their effect would have been anti-dilutive. For the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the dilutive impact of incremental shares was excluded as the Company generated a net loss. </font></div><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Dividends per Share</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company declared and paid a dividend per share of </font><font style="font-family:inherit;font-size:10pt;">$0.6275</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$0.6250</font><font style="font-family:inherit;font-size:10pt;"> during the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Deferred Policy Acquisition Costs</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred policy acquisition costs consist of commissions paid to outside agents, premium taxes, salaries, and certain other underwriting costs that are incremental or directly related to the successful acquisition of new and renewal insurance contracts and are amortized over the life of the related policy in proportion to premiums earned. Deferred policy acquisition costs are limited to the amount that will remain after deducting from unearned premiums and anticipated investment income, the estimated losses and loss adjustment expenses, and the servicing costs that will be incurred as premiums are earned. The Company&#8217;s deferred policy acquisition costs are further limited by excluding those costs not directly related to the successful acquisition of insurance contracts. Deferred policy acquisition cost amortization was </font><font style="font-family:inherit;font-size:10pt;">$148.4 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$141.0 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively. The Company does not defer advertising expenditures but expenses them as incurred. The Company recorded net advertising expense of approximately </font><font style="font-family:inherit;font-size:10pt;">$13.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$13.7 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reinsurance</font></div><div style="line-height:120%;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities for unearned premiums and unpaid losses are stated in the accompanying consolidated financial statements before deductions for ceded reinsurance.&#160;Unpaid losses and unearned premiums that are ceded to reinsurers are carried in reinsurance recoverables and other assets, respectively, in the Company's consolidated balance sheets.&#160;Earned premiums are stated net of deductions for ceded reinsurance.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2019</font><font style="font-family:inherit;font-size:10pt;">. The Treaty provides </font><font style="font-family:inherit;font-size:10pt;">$205 million</font><font style="font-family:inherit;font-size:10pt;"> of coverage on a per occurrence basis after covered catastrophe losses exceed the </font><font style="font-family:inherit;font-size:10pt;">$10 million</font><font style="font-family:inherit;font-size:10pt;"> Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company recognized ceded premiums earned of approximately </font><font style="font-family:inherit;font-size:10pt;">$15 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$13 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately </font><font style="font-family:inherit;font-size:10pt;">$(58) million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses for the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> resulted from re-estimation of the catastrophe loss reserves, including estimated subrogation that primarily benefited the Company's reinsurers, on the 2018 Camp and Woolsey Fires and the 2017 Southern California wildfires, which have been ceded to reinsurers under the Treaty. See Note 11. Loss and Loss Adjustment Expense Reserves for additional information. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's insurance subsidiaries, as primary insurers, are required to pay losses to the extent reinsurers are unable to discharge their obligations under the reinsurance agreements.</font></div><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue from Contracts with Customers (Topic 606) </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's revenue from contracts with customers is commission income earned from third-party insurers by its 100% owned insurance agencies, which amounted to approximately </font><font style="font-family:inherit;font-size:10pt;">$4.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$4.3 million</font><font style="font-family:inherit;font-size:10pt;">, with related expenses of </font><font style="font-family:inherit;font-size:10pt;">$2.7 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.8 million</font><font style="font-family:inherit;font-size:10pt;">, for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively. All of the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting (see Note 14. Segment Information). </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company had </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> contract assets and contract liabilities, and </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> remaining performance obligations associated with unrecognized revenues.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The interim consolidated financial statements include the accounts of Mercury General Corporation and its subsidiaries (referred to herein collectively as the &#8220;Company&#8221;). For the list of the Company&#8217;s subsidiaries, see Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. These interim financial statements have been prepared in conformity with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;), which differ in some respects from those filed in reports to insurance regulatory authorities. The financial data of the Company included herein are unaudited. In the opinion of management, all material adjustments of a normal recurring nature have been made to present fairly the Company&#8217;s financial position at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and the results of operations and cash flows for the periods presented. All intercompany transactions and balances have been eliminated.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted from the accompanying interim consolidated financial statements and related notes. Readers are urged to review the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> for more complete descriptions and discussions. Operating results and cash flows for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results that may be expected for the year ending </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified to conform to the current period presentation.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the Company's operating results by reportable segment: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90243902439025%;border-collapse:collapse;text-align:left;"><tr><td colspan="24" rowspan="1"></td></tr><tr><td style="width:47%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="23" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property &amp; Casualty</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property &amp; Casualty</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in millions)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net premiums earned</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">863.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">870.2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">800.3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">808.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Losses and loss adjustment expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">626.8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">630.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">628.3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.9</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">632.2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Underwriting expenses</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">212.5</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">215.9</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">202.6</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.8</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">206.4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Underwriting gain (loss)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">23.8</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">23.9</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(30.6</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(30.5</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investment income</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">34.2</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">31.5</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net realized investment gains (losses) </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">111.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(58.7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other income</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(4.3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(4.3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-tax income (loss)</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">167.2</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(59.7</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income (loss)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">135.9</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(42.6</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities for unearned premiums and unpaid losses are stated in the accompanying consolidated financial statements before deductions for ceded reinsurance.&#160;Unpaid losses and unearned premiums that are ceded to reinsurers are carried in reinsurance recoverables and other assets, respectively, in the Company's consolidated balance sheets.&#160;Earned premiums are stated net of deductions for ceded reinsurance.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2019</font><font style="font-family:inherit;font-size:10pt;">. The Treaty provides </font><font style="font-family:inherit;font-size:10pt;">$205 million</font><font style="font-family:inherit;font-size:10pt;"> of coverage on a per occurrence basis after covered catastrophe losses exceed the </font><font style="font-family:inherit;font-size:10pt;">$10 million</font><font style="font-family:inherit;font-size:10pt;"> Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company recognized ceded premiums earned of approximately </font><font style="font-family:inherit;font-size:10pt;">$15 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$13 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately </font><font style="font-family:inherit;font-size:10pt;">$(58) million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses for the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> resulted from re-estimation of the catastrophe loss reserves, including estimated subrogation that primarily benefited the Company's reinsurers, on the 2018 Camp and Woolsey Fires and the 2017 Southern California wildfires, which have been ceded to reinsurers under the Treaty. See Note 11. Loss and Loss Adjustment Expense Reserves for additional information. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's insurance subsidiaries, as primary insurers, are required to pay losses to the extent reinsurers are unable to discharge their obligations under the reinsurance agreements.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents information about the Company's notes payable:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="15" rowspan="1"></td></tr><tr><td style="width:22%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:19%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Lender</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Interest Rate</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Maturity Date</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">March&#160;31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">December&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Senior unsecured notes</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Publicly traded</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4.40%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">March 15, 2027</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">375,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">375,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Unsecured credit facility</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Bank of America and Wells Fargo Bank</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">LIBOR plus 112.5-162.5 basis points</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">March 29, 2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;&#160;&#160;Total principal amount</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">375,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">375,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Less unamortized discount and debt issuance costs</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,166</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,266</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total debt</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">371,834</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">371,734</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 8, 2017, the Company completed a public debt offering issuing </font><font style="font-family:inherit;font-size:10pt;">$375 million</font><font style="font-family:inherit;font-size:10pt;"> of senior notes. The notes are unsecured, senior obligations of the Company with a </font><font style="font-family:inherit;font-size:10pt;">4.4%</font><font style="font-family:inherit;font-size:10pt;"> annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. These notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off amounts outstanding under the existing loan and credit facilities and for general corporate purposes. The Company incurred debt issuance costs of approximately </font><font style="font-family:inherit;font-size:10pt;">$3.4 million</font><font style="font-family:inherit;font-size:10pt;">, inclusive of underwriters' fees. The notes were issued at a slight discount of </font><font style="font-family:inherit;font-size:10pt;">99.847%</font><font style="font-family:inherit;font-size:10pt;"> of par, resulting in the effective annualized interest rate including debt issuance costs of approximately </font><font style="font-family:inherit;font-size:10pt;">4.45%</font><font style="font-family:inherit;font-size:10pt;">. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 29, 2017, the Company entered into an unsecured credit agreement that provides for revolving loans of up to </font><font style="font-family:inherit;font-size:10pt;">$50 million</font><font style="font-family:inherit;font-size:10pt;"> and matures on March 29, 2022. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from LIBOR plus 112.5 basis points when the ratio is under 15% to LIBOR plus 162.5 basis points when the ratio is greater than or equal to 25%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 15% to 22.5 basis points when the ratio is greater than or equal to 25%. The debt to total capital ratio is expressed as a percentage of (a) consolidated debt to (b) consolidated shareholders' equity plus consolidated debt. The Company's debt to total capital ratio was </font><font style="font-family:inherit;font-size:10pt;">17.9%</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, resulting in a </font><font style="font-family:inherit;font-size:10pt;">15</font><font style="font-family:inherit;font-size:10pt;"> basis point commitment fee on the </font><font style="font-family:inherit;font-size:10pt;">$50 million</font><font style="font-family:inherit;font-size:10pt;"> undrawn portion of the credit facility. As of </font><font style="font-family:inherit;font-size:10pt;">April&#160;25, 2019</font><font style="font-family:inherit;font-size:10pt;">, there have been </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> borrowings under this facility. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(3)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The unamortized discount and debt issuance costs are associated with the publicly traded </font><font style="font-family:inherit;font-size:10pt;">$375 million</font><font style="font-family:inherit;font-size:10pt;"> senior unsecured notes. These are amortized to interest expense over the life of the notes, and the unamortized balance is presented in the Company's consolidated balance sheets as a direct deduction from the carrying amount of the debt. The unamortized debt issuance cost of approximately </font><font style="font-family:inherit;font-size:10pt;">$0.2 million</font><font style="font-family:inherit;font-size:10pt;"> associated with the </font><font style="font-family:inherit;font-size:10pt;">$50 million</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">five</font><font style="font-family:inherit;font-size:10pt;">-year unsecured revolving credit facility maturing on March 29, 2022 is included in other assets in the Company's consolidated balance sheets and amortized to interest expense over the term of the credit facility.</font></div></td></tr></table></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present the location and amounts of derivative fair values in the consolidated balance sheets and derivative gains or losses in the consolidated statements of operations:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Liability Derivatives </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amount in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Options sold - Other liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">716</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total return swap - Other liabilities </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,312</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,851</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total derivatives</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,028</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,854</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total rent expense recognized under the Company's various lease agreements was </font><font style="font-family:inherit;font-size:10pt;">$3.6 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. The following table presents future minimum commitments for operating leases as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:77%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Year Ending December 31,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Operating Leases</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts&#160;in&#160;thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#cceeff;">2019</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,812</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,547</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#cceeff;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,732</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,972</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#cceeff;">2023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,659</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Thereafter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,966</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the components of other intangible assets:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.21875%;border-collapse:collapse;text-align:left;"><tr><td colspan="14" rowspan="1"></td></tr><tr><td style="width:41%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross&#160;Carrying</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Accumulated</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amortization</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Net&#160;Carrying</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Useful&#160;Lives</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(in years)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#cceeff;font-weight:bold;">As of March 31, 2019:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Customer relationships</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,212</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(48,998</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,214</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Trade names</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,400</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,577</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,823</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Technology</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,300</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,300</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Insurance license</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,400</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,400</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indefinite</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total other intangible assets, net</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74,312</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(59,875</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,437</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">As of December 31, 2018:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Customer relationships</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,048</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(47,897</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,151</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Trade names</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,400</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,417</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,983</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Technology</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,300</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,300</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Insurance license</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,400</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,400</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indefinite</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total other intangible assets, net</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74,148</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(58,614</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,534</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the activity in loss and loss adjustment expense reserves:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gross reserves at</font><font style="font-family:inherit;font-size:10pt;">&#160;</font><font style="font-family:inherit;font-size:10pt;background-color:#cceeff;">January&#160;1</font><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,829,412</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,510,613</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less reinsurance recoverables on unpaid losses</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(180,859</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(64,001</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net reserves at January 1</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,648,553</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,446,612</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Incurred losses and loss adjustment expenses related to:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current year</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">629,054</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">589,582</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Prior years</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,362</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,652</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total incurred losses and loss adjustment expenses</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">630,416</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">632,234</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Loss and loss adjustment expense payments related to:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current year</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">274,273</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">254,841</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Prior years</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">344,718</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">345,826</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total payments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">618,991</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">600,667</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net reserves at March 31</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,659,978</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,478,179</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reinsurance recoverables on unpaid losses</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">127,634</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,794</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gross reserves at March 31</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,787,612</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,530,973</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the assumptions used in the calculation of grant-date fair values of these stock options based on the Black-Scholes option pricing model: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:87%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted-average grant-date fair value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8.09</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected volatility</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33.18</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Risk-free interest rate</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.62</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected dividend yield</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.40</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected term in months</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">72</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the estimated future amortization expense related to other intangible assets as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:20%;" rowspan="1" colspan="1"></td><td style="width:60%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:18%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Year</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Amortization&#160;Expense</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts&#160;in&#160;thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Remainder of 2019</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,802</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">922</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">902</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">878</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">714</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Thereafter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,819</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,037</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Segment Information </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is primarily engaged in writing personal automobile insurance and provides related property and casualty insurance products to its customers through </font><font style="font-family:inherit;font-size:10pt;">14</font><font style="font-family:inherit;font-size:10pt;"> subsidiaries in </font><font style="font-family:inherit;font-size:10pt;">11</font><font style="font-family:inherit;font-size:10pt;"> states, principally in California.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> reportable business segment - the Property and Casualty business segment.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s Chief Operating Decision Maker evaluates operating results based on pre-tax underwriting results which is calculated as net premiums earned less (a) losses and loss adjustment expenses and (b) underwriting expenses (policy acquisition costs and other operating expenses).</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses are allocated based on certain assumptions that are primarily related to premiums and losses. The Company&#8217;s net investment income, net realized investment gains or losses, other income, and interest expense are excluded in evaluating pretax underwriting profit. The Company does not allocate its assets, including investments, or income taxes in evaluating pre-tax underwriting profit.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Property and Casualty Lines </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Property and Casualty business segment offers several insurance products to the Company&#8217;s individual customers and small business customers. These insurance products are: private passenger automobile which is the Company&#8217;s primary business, and related insurance products such as homeowners, commercial automobile and commercial property. These related insurance products are primarily sold to the Company&#8217;s individual customers and small business customers, which increases retention of the Company&#8217;s private passenger automobile client base. The insurance products comprising the Property and Casualty business segment are sold through the same distribution channels, mainly through independent and 100% owned insurance agents, and go through a similar underwriting process. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Other Lines</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Other business segment represents net premiums written and earned from an operating segment that does not meet the quantitative thresholds required to be considered a reportable segment. This operating segment offers automobile mechanical protection warranties which are primarily sold through automobile dealerships and credit unions.</font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the Company's operating results by reportable segment: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90243902439025%;border-collapse:collapse;text-align:left;"><tr><td colspan="24" rowspan="1"></td></tr><tr><td style="width:47%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="23" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property &amp; Casualty</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property &amp; Casualty</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in millions)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net premiums earned</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">863.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">870.2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">800.3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">808.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Losses and loss adjustment expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">626.8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">630.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">628.3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.9</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">632.2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Underwriting expenses</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">212.5</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">215.9</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">202.6</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.8</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">206.4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Underwriting gain (loss)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">23.8</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">23.9</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(30.6</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(30.5</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investment income</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">34.2</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">31.5</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net realized investment gains (losses) </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">111.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(58.7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other income</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(4.3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(4.3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-tax income (loss)</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">167.2</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(59.7</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income (loss)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">135.9</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(42.6</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the Company&#8217;s net premiums earned and direct premiums written by line of insurance business:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90243902439025%;border-collapse:collapse;text-align:left;"><tr><td colspan="24" rowspan="1"></td></tr><tr><td style="width:47%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:6%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="23" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property &amp; Casualty</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property &amp; Casualty</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private passenger automobile</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">672.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">672.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">627.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">627.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Homeowners</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">119.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">119.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">107.8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">107.8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Commercial automobile</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">44.9</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">44.9</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21.6</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">28.7</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">20.6</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.8</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">28.4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net premiums earned</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">863.1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">870.2</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">800.3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.8</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">808.1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Private passenger automobile</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">705.3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">705.3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">674.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">674.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Homeowners</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">130.9</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">130.9</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">115.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">115.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Commercial automobile</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">54.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">54.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49.7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49.7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24.7</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6.8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">31.5</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">23.6</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6.4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">30.0</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Direct premiums written</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">915.3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6.8</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">922.1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">862.6</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6.4</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">869.0</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents gains (losses) due to changes in fair value of investments and the note receivable that are measured at fair value pursuant to the application of the fair value option:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Amounts in thousands)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fixed maturity securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">49,775</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(46,213</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,687</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(11,886</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Short-term investments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">734</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(392</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;Total investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">104,196</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(58,491</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Note receivable</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(41</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total gains (losses)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">104,227</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(58,532</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates require the Company to apply complex assumptions and judgments, and often the Company must make estimates about the effects of matters that are inherently uncertain and will likely change in subsequent periods. The most significant assumptions in the preparation of these consolidated financial statements relate to reserves for losses and loss adjustment expenses. Actual results could differ from those estimates. See Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2018</font></div></div> EX-101.SCH 9 mcy-20190331.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1001000 - Statement - Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 1001501 - Statement - Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 1005000 - Statement - Consolidated Statements Of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 1002000 - Statement - Consolidated Statements Of Operations link:presentationLink link:calculationLink link:definitionLink 1004000 - Statement - Consolidated Statements of Shareholders' Equity Statement link:presentationLink link:calculationLink link:definitionLink 2113100 - Disclosure - Contingencies link:presentationLink link:calculationLink link:definitionLink 2413402 - Disclosure - Contingencies - Gain Contingencies (Details) link:presentationLink link:calculationLink link:definitionLink 2413401 - Disclosure - Contingencies - Loss Contingencies (Details) link:presentationLink link:calculationLink link:definitionLink 2107100 - Disclosure - Derivative Financial Instruments link:presentationLink link:calculationLink link:definitionLink 2407402 - Disclosure - Derivative Financial Instruments (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 2407404 - Disclosure - Derivative Financial Instruments (Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations) (Details) link:presentationLink link:calculationLink link:definitionLink 2407403 - Disclosure - Derivative Financial Instruments (Summary Of Location And Amounts Of Derivative Fair Values In The Consolidated Balance Sheets) (Details) link:presentationLink link:calculationLink link:definitionLink 2307301 - Disclosure - Derivative Financial Instruments (Tables) link:presentationLink link:calculationLink link:definitionLink 0001000 - Document - Document And Entity Information link:presentationLink link:calculationLink link:definitionLink 2105100 - Disclosure - Fair Value Measurement link:presentationLink link:calculationLink link:definitionLink 2405405 - Disclosure - Fair Value Measurement Fair Value Measurement (Financial Instruments Disclosed, But Not Carried, At Fair Value) (Details) link:presentationLink link:calculationLink link:definitionLink 2405402 - Disclosure - Fair Value Measurement (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 2405403 - Disclosure - Fair Value Measurement (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques) (Details) link:presentationLink link:calculationLink link:definitionLink 2405404 - Disclosure - Fair Value Measurement (Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value) (Details) link:presentationLink link:calculationLink link:definitionLink 2305301 - Disclosure - Fair Value Measurement (Tables) link:presentationLink link:calculationLink link:definitionLink 2104100 - Disclosure - Fair Value Option link:presentationLink link:calculationLink link:definitionLink 2404402 - Disclosure - Fair Value Option (Gains And Losses Due To Changes In Fair Value Of Investments) (Details) link:presentationLink link:calculationLink link:definitionLink 2304301 - Disclosure - Fair Value Option (Tables) link:presentationLink link:calculationLink link:definitionLink 2103100 - Disclosure - Financial Instruments link:presentationLink link:calculationLink link:definitionLink 2403402 - Disclosure - Financial Instruments (Estimated Fair Values Of Financial Instruments) (Details) link:presentationLink link:calculationLink link:definitionLink 2403403 - Disclosure - Financial Instruments (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 2303301 - Disclosure - Financial Instruments (Tables) link:presentationLink link:calculationLink link:definitionLink 2101100 - Disclosure - General link:presentationLink link:calculationLink link:definitionLink 2401402 - Disclosure - General (Details) link:presentationLink link:calculationLink link:definitionLink 2201201 - Disclosure - General (Policies) link:presentationLink link:calculationLink link:definitionLink 2108100 - Disclosure - Goodwill and Other Intangible Assets link:presentationLink link:calculationLink link:definitionLink 2408402 - Disclosure - Goodwill and Other Intangible Assets (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 2408403 - Disclosure - Goodwill and Other Intangible Assets (Schedule Of Components Of Other Intangible Assets) (Details) link:presentationLink link:calculationLink link:definitionLink 2408404 - Disclosure - Goodwill and Other Intangible Assets (Schedule Of Estimated Future Amortization Expense Related To Intangible Assets) (Details) link:presentationLink link:calculationLink link:definitionLink 2308301 - Disclosure - Goodwill and Other Intangible Assets (Tables) link:presentationLink link:calculationLink link:definitionLink 2110100 - Disclosure - Income Taxes link:presentationLink link:calculationLink link:definitionLink 2410401 - Disclosure - Income Taxes (Details) link:presentationLink link:calculationLink link:definitionLink 2406408 - Disclosure - Leases (Future Rent Expense Due Prior To ASU Adoption) (Details) link:presentationLink link:calculationLink link:definitionLink 2406403 - Disclosure - Leases (Lease Cost) (Details) link:presentationLink link:calculationLink link:definitionLink 2406407 - Disclosure - Leases (Maturities of Operating Lease Liabilities After ASU Adoption) (Details) link:presentationLink link:calculationLink link:definitionLink 2406407 - Disclosure - Leases (Maturities of Operating Lease Liabilities After ASU Adoption) (Details) link:presentationLink link:calculationLink link:definitionLink 2406402 - Disclosure - Leases (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 2106100 - Disclosure - Leases (Notes) link:presentationLink link:calculationLink link:definitionLink 2406404 - Disclosure - Leases (Supplemental Balance Sheet Information) (Details) link:presentationLink link:calculationLink link:definitionLink 2406406 - Disclosure - Leases (Supplemental Cash Flow Information) (Details) link:presentationLink link:calculationLink link:definitionLink 2306301 - Disclosure - Leases (Tables) link:presentationLink link:calculationLink link:definitionLink 2406405 - Disclosure - Leases (Weighted Average Lease Term and Discount Rate) (Details) link:presentationLink link:calculationLink link:definitionLink 2110100 - Disclosure - Loss And Loss Adjustment Expense Reserves link:presentationLink link:calculationLink link:definitionLink 2410402 - Disclosure - Loss And Loss Adjustment Expense Reserves (Activity In The Reserves For Losses And Loss Adjustment Expenses) (Details) link:presentationLink link:calculationLink link:definitionLink 2410403 - Disclosure - Loss And Loss Adjustment Expense Reserves (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 2310301 - Disclosure - Loss And Loss Adjustment Expense Reserves (Tables) link:presentationLink link:calculationLink link:definitionLink 2112100 - Disclosure - Notes Payable link:presentationLink link:calculationLink link:definitionLink 2412403 - Disclosure - Notes Payable (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 2412402 - Disclosure - Notes Payable (Schedule of Long-term Debt) (Details) link:presentationLink link:calculationLink link:definitionLink 2312301 - Disclosure - Notes Payable (Tables) link:presentationLink link:calculationLink link:definitionLink 2102100 - Disclosure - Recently Issued Accounting Standards link:presentationLink link:calculationLink link:definitionLink 2114100 - Disclosure - Segment Information link:presentationLink link:calculationLink link:definitionLink 2414402 - Disclosure - Segment Information - Summary of Operating Results by Segment (Details) link:presentationLink link:calculationLink link:definitionLink 2414403 - Disclosure - Segment Information - Summary of Premiums Written and Earned by Segment (Details) link:presentationLink link:calculationLink link:definitionLink 2314301 - Disclosure - Segment Information (Tables) link:presentationLink link:calculationLink link:definitionLink 2109100 - Disclosure - Share-Based Compensation link:presentationLink link:calculationLink link:definitionLink 2409402 - Disclosure - Share-Based Compensation (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 2409403 - Disclosure - Share-Based Compensation (Stock Option Valuation Assumptions) (Details) link:presentationLink link:calculationLink link:definitionLink 2309301 - Disclosure - Share-Based Compensation (Tables) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 10 mcy-20190331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 11 mcy-20190331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 12 mcy-20190331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT General Discussion of Derivative Instruments and Hedging Activities [Abstract] Derivative Financial Instruments [Table] Derivative Financial Instruments [Table] Derivative Financial Instruments [Table] Legal Entity [Axis] Legal Entity [Axis] Entity [Domain] Entity [Domain] FFL [Member] FFL [Member] FFL [Member] Variable Rate [Axis] Variable Rate [Axis] Variable Rate [Domain] Variable Rate [Domain] LIBOR [Member] London Interbank Offered Rate (LIBOR) [Member] Derivative Instrument Risk [Axis] Derivative Instrument [Axis] Derivative Contract Type [Domain] Derivative Contract [Domain] Swap [Member] Swap [Member] Debt Instrument [Line Items] Debt Instrument [Line Items] Swap agreement collateral Derivative, Collateral, Right to Reclaim Securities Basis spread on variable rate Derivative, Basis Spread on Variable Rate Notional amount Derivative, Notional Amount Term of swap agreement Derivative, Term of Contract Derivative [Table] Derivative [Table] Hedging Designation [Axis] Hedging Designation [Axis] Hedging Designation [Domain] Hedging Designation [Domain] Derivatives Not Designated as Hedging Instrument [Member] Not Designated as Hedging Instrument [Member] Derivative Instruments, Gain (Loss) by Derivative Instrument Risk [Axis] Total Return Swap [Member] Total Return Swap [Member] Equity contracts [Member] Equity Contract [Member] Derivative Instruments, Gain (Loss) by Income Statement Location [Axis] Income Statement Location [Axis] Income Statement and Other Comprehensive Income Location [Domain] Income Statement Location [Domain] Net realized investment (losses) gains [Member] Net Realized Investment Gains [Member] Net Realized Investment Gains [Member] Derivative [Line Items] Derivative [Line Items] Gain Recognized in Income (Loss) Derivative, Gain (Loss) on Derivative, Net Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] Fair Value Measurement Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] Notes Payable [Abstract] Schedule of Long-term Debt Instruments [Table] Schedule of Long-term Debt Instruments [Table] Range [Axis] Range [Axis] Range [Domain] Range [Domain] Minimum [Member] Minimum [Member] Maximum [Member] Maximum [Member] Long-term Debt, Type [Axis] Long-term Debt, Type [Axis] Long-term Debt, Type [Domain] Long-term Debt, Type [Domain] Unsecured debt [Member] Unsecured Debt [Member] Financial Instrument [Axis] Financial Instrument [Axis] Financial Instruments [Domain] Financial Instruments [Domain] Borrowings [Member] Borrowings [Member] Fair Value Hierarchy and NAV [Axis] Fair Value Hierarchy and NAV [Axis] Fair Value Hierarchy and NAV [Domain] Fair Value Hierarchy and NAV [Domain] Level 2 [Member] Fair Value, Inputs, Level 2 [Member] Securities or Other Assets Sold under Agreements to Repurchase [Axis] Securities or Other Assets Sold under Agreements to Repurchase [Axis] Assets Sold under Agreements to Repurchase, Type [Domain] Assets Sold under Agreements to Repurchase, Type [Domain] Unsecured Notes One [Member] Unsecured Notes One [Member] Unsecured Notes One [Member] Unsecured Notes Two [Member] Unsecured Notes Two [Member] Unsecured Notes Two [Member] Interest rate Debt Instrument, Interest Rate, Stated Percentage Basis spread on variable rate Debt Instrument, Basis Spread on Variable Rate Unsecured debt Unsecured Debt Total principal amount Notes Payable, Principal Notes Payable, Principal Less unamortized discount and debt issuance costs(3) Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net Notes payable Notes Payable Fair Value Disclosures [Abstract] Fair Value Measurements, Recurring and Nonrecurring [Table] Fair Value Measurements, Recurring and Nonrecurring [Table] Measurement Frequency [Axis] Measurement Frequency [Axis] Fair Value, Measurement Frequency [Domain] Fair Value, Measurement Frequency [Domain] Fair Value, Measurements, Recurring [Member] Fair Value, Measurements, Recurring [Member] Short-term Debt [Member] Fair Value, Inputs, Level 1 [Member] Level 3 [Member] Fair Value, Inputs, Level 3 [Member] Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] Liabilities, fair value Financial Liabilities Fair Value Disclosure Leases [Abstract] 2019 Operating Leases, Future Minimum Payments Due, Next Twelve Months 2020 Operating Leases, Future Minimum Payments, Due in Two Years 2021 Operating Leases, Future Minimum Payments, Due in Three Years 2022 Operating Leases, Future Minimum Payments, Due in Four Years 2023 Operating Leases, Future Minimum Payments, Due in Five Years Thereafter Operating Leases, Future Minimum Payments, Due Thereafter Segment Reporting [Abstract] Segment Information Segment Reporting Disclosure [Text Block] Organization, Consolidation and Presentation of Financial Statements [Abstract] Potentially dilutive securities (in shares) Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount Common stock dividends (in dollars per share) Common Stock, Dividends, Per Share, Declared Deferred policy acquisition cost amortization Deferred Policy Acquisition Costs, Amortization Expense Advertising expenses Advertising Expense Reinsurance policy amount of coverage Reinsurance Retention Policy, Excess Retention, Amount Reinsured Reinsurance policy, amount retained Reinsurance Retention Policy, Amount Retained Ceded premiums earned Ceded Premiums Earned Policyholder benefits and claims incurred, ceded Policyholder Benefits and Claims Incurred, Ceded Revenue from contract with customer Revenue from Contract with Customer, Including Assessed Tax Cost of goods and services sold Cost of Goods and Services Sold Contract with customer, asset Contract with Customer, Asset, Net Contract with customer, liability Contract with Customer, Liability Revenue, remaining performance obligation Revenue, Remaining Performance Obligation, Amount Operating cash flows from operating leases Operating Lease, Payments ROU assets obtained in exchange for lease liabilities: Right-of-Use Asset Obtained in Exchange for Operating Lease Liability Income Statement [Abstract] Revenues: Revenues [Abstract] Net premiums earned Premiums Earned, Net Net investment income Interest and Dividend Income, Operating Net realized investment gains (losses) Realized Investment Gains (Losses) Other Other Income Total revenues Revenues Expenses: Benefits, Losses and Expenses [Abstract] Losses and loss adjustment expenses Policyholder Benefits and Claims Incurred, Net Policy acquisition costs Other operating expenses Other Cost and Expense, Operating Interest Interest Expense Total expenses Benefits, Losses and Expenses Income (loss) before income taxes Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest Income tax expense (benefit) Income Tax Expense (Benefit) Net income (loss) Net Income (Loss) Attributable to Parent Net income (loss) per share: Earnings Per Share [Abstract] Basic (in dollars per share) Earnings Per Share, Basic Diluted (in dollars per share) Earnings Per Share, Diluted Weighted average shares outstanding: Earnings Per Share, Basic, Other Disclosures [Abstract] Basic (in shares) Weighted Average Number of Shares Outstanding, Basic Diluted (in shares) Weighted Average Number of Shares Outstanding, Diluted Insurance Loss Reserves [Abstract] Activity In The Reserves For Losses And Loss Adjustment Expenses Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block] Statement of Financial Position [Abstract] ASSETS Assets [Abstract] Fixed maturity securities (amortized cost $3,011,979; $2,969,541) Debt Securities, Trading Equity securities (cost $577,263; $544,082) Equity Securities, FV-NI Short-term investments (cost $367,837; $254,518) Short-term Investments Total investments Investments Cash Cash Receivables: Premiums and Other Receivables, Net [Abstract] Premium Premiums Receivable, Net Accrued investment income Accrued Investment Income Receivable Other Other Receivables Total receivables Premiums and Other Receivables, Net Reinsurance recoverables Reinsurance Recoverables, Case Basis Deferred policy acquisition costs Deferred Policy Acquisition Costs Fixed assets (net of accumulated depreciation $364,015; $359,269) Property, Plant and Equipment, Net Operating lease right-of-use assets Operating Lease, Right-of-Use Asset Current income taxes Income Taxes Receivable Deferred income taxes Deferred Income Tax Assets, Net Goodwill Goodwill Other intangible assets, net Intangible Assets, Net (Excluding Goodwill) Other assets Other Assets Total assets Assets LIABILITIES AND SHAREHOLDERS’ EQUITY Liabilities and Equity [Abstract] Liabilities Liabilities [Abstract] Loss and loss adjustment expense reserves Liability for Claims and Claims Adjustment Expense, Property Casualty Liability Unearned premiums Unearned Premiums Accounts payable and accrued expenses Accounts Payable and Accrued Liabilities Operating lease liabilities Operating Lease, Liability Deferred income taxes Deferred Income Tax Liabilities, Net Other liabilities Other Liabilities Total liabilities Liabilities Commitments and contingencies Commitments and Contingencies Shareholders’ equity: Stockholders' Equity Attributable to Parent [Abstract] Common stock without par value or stated value: Authorized 70,000 shares; issued and outstanding 55,350; 55,340 Common Stock, Value, Issued Retained earnings Retained Earnings (Accumulated Deficit) Total shareholders’ equity Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Total liabilities and shareholders’ equity Liabilities and Equity Summary Of Location And Amounts Of Derivative Fair Values In The Consolidated Balance Sheets Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations Schedule Of Derivative Gains And Losses In Consolidated Statements Of Operations Table Text Block Schedule of Derivative Gains and Losses in the Consolidated Statements of Operations [Table Text Block] Financial Instruments, Owned, at Fair Value [Abstract] Fair Value, by Balance Sheet Grouping [Table] Fair Value, by Balance Sheet Grouping [Table] Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] Number of acres Number of Acres Number of Acres Proceeds from sale of property, plant, and equipment Proceeds from Sale of Property, Plant, and Equipment Promissory note received in sale of property, plant, and equipment Promissory Note Received in Sale Of Property, Plant, and Equipment Promissory Note Received in Sale Of Property, Plant, and Equipment Stated interest rate on promissory note Stated Interest Rate On Promissory Note Stated Interest Rate On Promissory Note Unsecured notes Debt Instrument, Face Amount Investments [Member] Investments [Member] Financing Receivable [Member] Financing Receivable [Member] Option Indexed to Issuer's Equity, Type [Axis] Option Indexed to Issuer's Equity, Type [Axis] Option Indexed to Issuer's Equity, Type [Domain] Option Indexed to Issuer's Equity, Type [Domain] Call Option [Member] Call Option [Member] Assets Total assets, fair value Investments, Fair Value Disclosure Financial Instruments Fair Value Disclosures [Text Block] Operating lease cost Operating Lease, Cost Variable lease cost Variable Lease, Cost Total lease cost Lease, Cost Estimated Fair Values of Financial Instruments Estimated Fair Values of Financial Instruments [Table Text Block] Estimated Fair Values of Financial Instruments [Table Text Block] Goodwill and Intangible Assets Disclosure [Abstract] Schedule of Finite-Lived Intangible Assets by Major Class [Table] Schedule of Finite-Lived Intangible Assets [Table] Indefinite-lived Intangible Assets [Axis] Indefinite-lived Intangible Assets [Axis] Indefinite-lived Intangible Assets, Major Class Name [Domain] Indefinite-lived Intangible Assets, Major Class Name [Domain] Licensing Agreements [Member] Licensing Agreements [Member] Finite-Lived Intangible Assets by Major Class [Axis] Finite-Lived Intangible Assets by Major Class [Axis] Finite-Lived Intangible Assets, Major Class Name [Domain] Finite-Lived Intangible Assets, Major Class Name [Domain] Customer relationships [Member] Customer Relationships [Member] Trade names [Member] Trade Names [Member] Technology [Member] Technology Equipment [Member] Finite-Lived Intangible Assets [Line Items] Finite-Lived Intangible Assets [Line Items] Gross Carrying Amount Intangible Assets, Gross (Excluding Goodwill) Accumulated Amortization Finite-Lived Intangible Assets, Accumulated Amortization Net Carrying Amount Useful Lives (in years) Finite-Lived Intangible Asset, Useful Life Derivative Financial Instruments Derivative Instruments and Hedging Activities Disclosure [Text Block] Leases Lessee, Operating Leases [Text Block] Unusual or Infrequent Item, or Both [Table] Unusual or Infrequent Item, or Both [Table] Catastrophic Event [Axis] Catastrophic Event [Axis] Catastrophic Event [Domain] Catastrophic Event [Domain] Catastrophe [Member] Catastrophe [Member] Fire [Member] Fire [Member] Unusual or Infrequent Item, or Both [Line Items] Unusual or Infrequent Item, or Both [Line Items] Prior year claims and claims adjustment expense Prior Year Claims and Claims Adjustment Expense Loss from catastrophes Loss from Catastrophes Loss from catastrophes, net of reinsurance benefits Loss From Catastrophes, Net of Reinsurance Benefits Loss From Catastrophes, Net of Reinsurance Benefits Adjustments for prior year claims Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years Benefit from sale of subrogation rights Salvage and Subrogation Recoveries, Value Fair Value Option [Abstract] Fair Value Option [Abstract] Fair Value Option Fair Value, Option [Text Block] Remainder of 2019 Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year 2020 Lessee, Operating Lease, Liability, Payments, Due Year Two 2021 Lessee, Operating Lease, Liability, Payments, Due Year Three 2022 Lessee, Operating Lease, Liability, Payments, Due Year Four 2023 Lessee, Operating Lease, Liability, Payments, Due Year Five 2024 and thereafter Lessee, Operating Lease, Liability, Payments, Due after Year Five Total lease payments Lessee, Operating Lease, Liability, Payments, Due Less: Imputed interest Lessee, Operating Lease, Liability, Undiscounted Excess Amount Total lease obligations Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] Schedule of Share-based Compensation Arrangement [Table] Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table] Award Type [Axis] Award Type [Axis] Share-based Compensation Arrangements by Share-based Payment Award, Award Type and Plan Name [Domain] Equity Award [Domain] Employee Stock Option [Member] Employee Stock Option [Member] Plan Name [Axis] Plan Name [Axis] Plan Name [Domain] Plan Name [Domain] Incentive Award Plan 2015 [Member] Two Thousand Fifteen Plan [Member] Two Thousand Fifteen Plan [Member] Class of Stock [Axis] Class of Stock [Axis] Class of Stock [Domain] Class of Stock [Domain] Common Stock [Member] Common Stock [Member] Share-based Compensation Arrangement by Share-based Payment Award [Line Items] Share-based Compensation Arrangement by Share-based Payment Award [Line Items] Number of shares authorized (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized Number of nonvested options (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares Number of shares available for grant (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant Option vesting term (in years) Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period Grants in period (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross Nonvested options forfeited (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares Number of executives awarded stock options Number of Executives Number of Executives Requisite service period Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period Unrecognized compensation expense Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options Period for recognition for unrecognized compensation expense Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition RSUs awarded (in shares) Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures Performance period of restricted stock units (in years) Performance Period of Restricted Stock and Restricted Stock Units Performance period of restricted stock and restricted stock units Commitments and Contingencies Disclosure [Abstract] Contingencies Commitments and Contingencies Disclosure [Text Block] Private Equity Funds [Member] Private Equity Funds [Member] Fair Value, Option, Quantitative Disclosures [Line Items] Fair Value, Option, Quantitative Disclosures [Line Items] Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] Beginning balance Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value Realized gains (losses) included in earnings Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings Settlements Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements Ending balance The amount of total gains (losses) for the period included in earnings attributable to assets still held at March 31 Amount of total losses gains for period included in earnings attributable to assets still held Amount of total losses gains for period included in earnings attributable to assets still held Gains And Losses Due To Changes In Fair Value Of Investments Unrealized Gain (Loss) on Investments [Table Text Block] Credit Facility [Axis] Credit Facility [Axis] Credit Facility [Domain] Credit Facility [Domain] Revolving Credit Facility [Member] Revolving Credit Facility [Member] Debt issuance cost Debt Issuance Costs, Net Debt instrument, discount percent Debt Instrument, Discount Percent Debt Instrument, Discount Percent Effective interest rate Debt Instrument, Interest Rate, Effective Percentage Loan maximum borrowing capacity Line of Credit Facility, Maximum Borrowing Capacity Revolving credit facility term Line of Credit Facility, Expiration Period Debt to total capital ratio Ratio of Indebtedness to Net Capital Commitment fee on undrawn portion of facility Line of Credit Facility, Unused Capacity, Commitment Fee Percentage Unamortized debt issuance cost Unamortized Debt Issuance Expense Schedule of Long-term Debt Instruments Schedule of Long-term Debt Instruments [Table Text Block] Components of Income Tax Expense (Benefit), Continuing Operations [Abstract] Increase in unrecognized tax benefit Unrecognized Tax Benefits, Period Increase (Decrease) Fair Value, Measurements, Nonrecurring [Member] Fair Value, Measurements, Nonrecurring [Member] Investment Type [Axis] Investment Type [Axis] Investments [Domain] Investments [Domain] Commercial Mortgage Back Securities [Member] Commercial Mortgage Backed Securities [Member] Percentage of portfolio of unadjusted fair values obtained Percentage Of Unadjusted Fair Value Obtained Percentage of unadjusted fair value obtained Number of knowledgeable outside security brokers consulted to determine fair value Number of knowledgeable outside security brokers consulted to determine fair value Number of knowledgeable outside security brokers consulted to determine fair value. Assets, fair value disclosure Assets, Fair Value Disclosure Trading securities, fair value disclosure Debt Securities, Trading, and Equity Securities, FV-NI Schedule of Segment Reporting Information, by Segment [Table] Schedule of Segment Reporting Information, by Segment [Table] Segments [Axis] Segments [Axis] Segments [Domain] Segments [Domain] Property and Casualty Lines [Member] Property and Casualty Lines [Member] Property and Casualty Lines [Member] Other Segments [Member] Other Segments [Member] Product and Service [Axis] Product and Service [Axis] Product and Service [Domain] Product and Service [Domain] Private Passenger Automobile Line [Member] Property and Casualty, Personal Insurance Product Line [Member] Homeowners Line [Member] Property Insurance Product Line [Member] Commercial Automobile Line [Member] Property and Casualty, Commercial Insurance Product Line [Member] Other [Member] Other Insurance Product Line [Member] Segment Reporting Information [Line Items] Segment Reporting Information [Line Items] Net premiums earned Direct Premiums Written Direct Premiums Written Share-Based Compensation Disclosure of Compensation Related Costs, Share-based Payments [Text Block] Statement of Stockholders' Equity [Abstract] Statement [Table] Statement [Table] Equity Components [Axis] Equity Components [Axis] Equity Component [Domain] Equity Component [Domain] Retained Earnings [Member] Retained Earnings [Member] Statement [Line Items] Statement [Line Items] Shareholders' equity, beginning balance Proceeds from stock options exercised Stock Issued During Period, Value, Stock Options Exercised Share-based compensation expense Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition Net income (loss) Dividends paid to shareholders Dividends, Common Stock, Cash Shareholders' equity, ending balance Document And Entity Information [Abstract] Document and Entity Information Document Type Document Type Amendment Flag Amendment Flag Document Period End Date Document Period End Date Document Fiscal Year Focus Document Fiscal Year Focus Document Fiscal Period Focus Document Fiscal Period Focus Entity Registrant Name Entity Registrant Name Entity Central Index Key Entity Central Index Key Current Fiscal Year End Date Current Fiscal Year End Date Entity Filer Category Entity Filer Category Entity Common Stock, Shares Outstanding Entity Common Stock, Shares Outstanding Entity Emerging Growth Company Entity Emerging Growth Company Entity Small Business Entity Small Business Loss Contingencies [Table] Loss Contingencies [Table] Litigation Case [Axis] Litigation Case [Axis] Litigation Case [Domain] Litigation Case [Domain] California DOI [Member] California DOI [Member] California DOI [Member] Loss Contingencies [Line Items] Loss Contingencies [Line Items] Litigation, penalty assessed Litigation Settlement, Expense Payments for assessed penalty Payments for Legal Settlements Penalty interest assessed, statutory rate Litigation Settlement, Refund Interest Rate Litigation Settlement, Refund Interest Rate Gain Contingencies [Table] Gain Contingencies [Table] Balance Sheet Location [Axis] Balance Sheet Location [Axis] Balance Sheet Location [Domain] Balance Sheet Location [Domain] Other liabilities [Member] Other Liabilities [Member] Gain Contingencies [Line Items] Gain Contingencies [Line Items] Gain contingency Gain Contingency, Unrecorded Amount Schedule of Fair Value of Separate Accounts by Major Category of Investment [Table] Schedule of Fair Value of Separate Accounts by Major Category of Investment [Table] Fixed maturity securities [Member] Fixed Income Securities [Member] Equity Securities [Member] Equity Securities [Member] Short-term investments [Member] Short-term Investments [Member] Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] (Losses) gains due to changes in fair value of investments Fair Value, Option, Changes in Fair Value, Gain (Loss) Financial Instrument [Axis] US Government Agencies Debt Securities [Member] US Government Agencies Debt Securities [Member] Municipal Securities [Member] Municipal Securities [Member] Municipal Securities [Member] Mortgage Backed Securities [Member] Collateralized Mortgage Backed Securities [Member] Corporate Debt Securities [Member] Corporate Debt Securities [Member] Collateralized Loan Obligations [Member] Collateralized Loan Obligations [Member] Other Asset-Backed Securities [Member] Other Asset-Backed Securities [Member] Other Asset-Backed Securities [Member] Nonredeemable Preferred Stock [Member] Nonredeemable Preferred Stock [Member] Private Equity Funds Net Asset Value [Member] Private Equity Funds Net Asset Value [Member] Private Equity Funds, Net Asset Value [Member] Short-term Debt [Member] Short-term Debt [Member] Money Market Funds [Member] Money Market Funds [Member] Fixed maturity securities: Equity securities: Short-term investments: Note receivable Alternative Investment Derivative liability Derivative Liability Statement of Cash Flows [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities [Abstract] Net income (loss) Adjustments to reconcile net income to net cash provided by operating activities: Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] Depreciation and amortization Depreciation, Amortization and Accretion, Net Net realized investment (gains) losses Increase in premiums receivable Increase (Decrease) in Premiums Receivable Decrease in reinsurance recoverables Increase (Decrease) in Reinsurance Recoverable Changes in current and deferred income taxes Increase (Decrease) in Deferred Income Taxes Increase in deferred policy acquisition costs Increase (Decrease) in Deferred Policy Acquisition Costs (Decrease) increase in loss and loss adjustment expense reserves Increase (Decrease) in Liability for Claims and Claims Adjustment Expense Reserve Increase in unearned premiums Increase (Decrease) in Unearned Premiums Increase in accounts payable and accrued expenses Increase (Decrease) in Accounts Payable and Accrued Liabilities Share-based compensation Share-based Compensation Other, net Increase (Decrease) in Other Operating Liabilities Net cash provided by operating activities Net Cash Provided by (Used in) Operating Activities CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by (Used in) Investing Activities [Abstract] Fixed maturity securities available for sale in nature: Proceeds from Sale and Maturity of Held-to-maturity Securities [Abstract] Purchases Payments to Acquire Debt Securities, Available-for-sale Sales Proceeds from Sale of Debt Securities, Available-for-sale Calls or maturities Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale Equity securities available for sale in nature: Payments to Acquire Equity Securities Available-for-Sale [Abstract] Payments to Acquire Equity Securities Available-for-Sale [Abstract] Purchases Payments to Acquire Equity Securities FV-NI Payments to Acquire Equity Securities FV-NI Sales Proceeds from Sale of Equity Securities FV-NI Proceeds from Sale of Equity Securities FV-NI Changes in securities payable and receivable Increase (Decrease) in Broker-Dealer Related Receivables (Payables), Net (Increase) decrease in short-term investments Payments for (Proceeds from) Short-term Investments Purchases of fixed assets Payments to Acquire Productive Assets Other, net Payments for (Proceeds from) Other Investing Activities Net cash used in investing activities Net Cash Provided by (Used in) Investing Activities CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by (Used in) Financing Activities [Abstract] Dividends paid to shareholders Payments of Ordinary Dividends, Common Stock Proceeds from stock options exercised Proceeds from Stock Options Exercised Net cash used in financing activities Net Cash Provided by (Used in) Financing Activities Net decrease in cash Cash and Cash Equivalents, Period Increase (Decrease) Cash: Cash and Cash Equivalents, at Carrying Value [Abstract] Beginning of the year End of period SUPPLEMENTAL CASH FLOW DISCLOSURE Supplemental Cash Flow Information [Abstract] Interest paid Interest Paid, Including Capitalized Interest, Operating and Investing Activities Income taxes refunded, net Income Taxes Paid, Net New Accounting Pronouncements and Changes in Accounting Principles [Abstract] Recently Issued Accounting Standards Description of New Accounting Pronouncements Not yet Adopted [Text Block] Amortized cost on fixed maturities trading investments Amortized Cost On Fixed Maturity Trading Investments Amortized cost on fixed maturity trading investments Cost - equity security trading investments Cost Equity Security Trading Investments Cost - Equity Security Trading Investments Cost - short-term investments Cost Short Term Investments Cost of investments in short-term bonds and money market instruments. Fixed assets, accumulated depreciation Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Common Stock Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] Common stock, no par value (in dollars per share) Common Stock, No Par Value Common stock, shares authorized (in shares) Common Stock, Shares Authorized Common stock, shares issued (in shares) Common Stock, Shares, Issued Common stock, shares outstanding (in shares) Common Stock, Shares, Outstanding Operating lease ROU assets Operating lease liabilities Loss And Loss Adjustment Expense Reserves Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block] Reconciliation of operating results by reportable segment Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] Schedule direct premiums attributable to segment Schedule Direct Premiums Attributable To Segment [Table Text Block] Disclosure of direct premium written by line of business. Consolidation and Basis of Presentation Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] Use of Estimates Use of Estimates, Policy [Policy Text Block] Earnings per Share Earnings Per Share, Policy [Policy Text Block] Deferred Policy Acquisition Costs Deferred Policy Acquisition Costs, Policy [Policy Text Block] Reinsurance Reinsurance Accounting Policy [Policy Text Block] Recently Issued Accounting Standards New Accounting Pronouncements, Policy [Policy Text Block] Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] Gross reserves at January 1 Liability for Claims and Claims Adjustment Expense Less reinsurance recoverables on unpaid losses Reissuance recoverable Reissuance recoverable Net reserves at January 1 Liability for Unpaid Claims and Claims Adjustment Expense, Net Incurred losses and loss adjustment expenses related to: Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims [Abstract] Current year Current Year Claims and Claims Adjustment Expense Prior years Total incurred losses and loss adjustment expenses Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims Loss and loss adjustment expense payments related to: Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid [Abstract] Current year Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Current Year Prior years Total payments Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid Net reserves at March 31 Gross reserves at March 31 Goodwill and Other Intangible Assets Goodwill and Intangible Assets Disclosure [Text Block] Income Taxes Income Tax Disclosure [Text Block] Lease, Cost Lease, Cost [Table Text Block] Assets And Liabilities, Lease Assets And Liabilities, Lease [Table Text Block] Assets And Liabilities, Lease [Table Text Block] Lessee, Operating Lease, Liability, Maturity Lessee, Operating Lease, Liability, Maturity [Table Text Block] Schedule of Future Minimum Rental Payments for Operating Leases Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] Schedule Of Components Of Other Intangible Assets Schedule of Intangible Assets and Goodwill [Table Text Block] Schedule Of Estimated Future Amortization Expense Related To Intangible Assets Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] Weighted-average grant-date fair value (in dollars per share) Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price Expected volatility Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate Risk-free interest rate Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate Expected dividend yield Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate Expected term in months Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term Number of insurance companies Number Of Subsidiaries Company Controls Number Of Subsidiaries Company Controls Number of states in which company operates Number of States in which Entity Operates Number of reportable segments Number of Reportable Segments Underwriting expenses Other Underwriting Expense Underwriting gain (loss) Underwriting Income (Loss) Interest expense Pre-tax income (loss) Notes Payable Debt Disclosure [Text Block] Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] Remainder of 2019 Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year 2020 Finite-Lived Intangible Assets, Amortization Expense, Year Two 2021 Finite-Lived Intangible Assets, Amortization Expense, Year Three 2022 Finite-Lived Intangible Assets, Amortization Expense, Year Four 2023 Finite-Lived Intangible Assets, Amortization Expense, Year Five Thereafter Finite-Lived Intangible Assets, Amortization Expense, after Year Five Total Finite-Lived Intangible Assets, Net Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] Non-hedging derivatives [Member] Option contracts [Member] Derivatives, Fair Value, by Balance Sheet Location [Axis] Liability Derivatives Derivative Liability, Fair Value, Gross Liability Weighted-average remaining lease term (in years): Operating Lease, Weighted Average Remaining Lease Term Weighted-average discount rate: Lessee, Operating Lease, Discount Rate Lessee, Lease, Description [Table] Lessee, Lease, Description [Table] Adjustments for New Accounting Pronouncements [Axis] Adjustments for New Accounting Pronouncements [Axis] Type of Adoption [Domain] Type of Adoption [Domain] Accounting Standards Update 2016-02 [Member] Accounting Standards Update 2016-02 [Member] Lessee, Lease, Description [Line Items] Lessee, Lease, Description [Line Items] Deferred rent credit Deferred Rent Credit Lessee, operating lease, not yet commenced, amount Lessee, Operating Lease, Not Yet Commenced, Amount Lessee, Operating Lease, Not Yet Commenced, Amount Lessee, operating lease, lease not yet commenced, term of contract Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract Rent expense Operating Leases, Rent Expense General Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] Change in Goodwill Goodwill, Period Increase (Decrease) Goodwill, impairment Goodwill, Impairment Loss Intangible assets amortization expense Amortization of Intangible Assets EX-101.PRE 13 mcy-20190331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 14 R1.htm IDEA: XBRL DOCUMENT v3.19.1
Document And Entity Information - shares
3 Months Ended
Mar. 31, 2019
Apr. 25, 2019
Document And Entity Information [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Mar. 31, 2019  
Document Fiscal Year Focus 2019  
Document Fiscal Period Focus Q1  
Entity Registrant Name MERCURY GENERAL CORP  
Entity Central Index Key 0000064996  
Current Fiscal Year End Date --12-31  
Entity Filer Category Large Accelerated Filer  
Entity Common Stock, Shares Outstanding   55,352,577
Entity Emerging Growth Company false  
Entity Small Business false  
XML 15 R2.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
ASSETS    
Fixed maturity securities (amortized cost $3,011,979; $2,969,541) $ 3,077,373 $ 2,985,161
Equity securities (cost $577,263; $544,082) 616,500 529,631
Short-term investments (cost $367,837; $254,518) 367,351 253,299
Total investments 4,061,224 3,768,091
Cash 270,105 314,291
Receivables:    
Premium 579,963 555,038
Accrued investment income 43,936 45,373
Other 6,330 6,132
Total receivables 630,229 606,543
Reinsurance recoverables 114,500 221,088
Deferred policy acquisition costs 219,723 215,131
Fixed assets (net of accumulated depreciation $364,015; $359,269) 155,844 153,023
Operating lease right-of-use assets 41,275 0
Current income taxes 27,051 38,885
Deferred income taxes 0 13,339
Goodwill 42,796 42,796
Other intangible assets, net 14,437 15,534
Other assets 29,536 45,008
Total assets 5,606,720 5,433,729
Liabilities    
Loss and loss adjustment expense reserves 1,787,612 1,829,412
Unearned premiums 1,273,661 1,236,181
Notes payable 371,834 371,734
Accounts payable and accrued expenses 137,258 115,071
Operating lease liabilities 43,439 0
Deferred income taxes 6,166 0
Other liabilities 267,456 263,647
Total liabilities 3,887,426 3,816,045
Commitments and contingencies
Shareholders’ equity:    
Common stock without par value or stated value: Authorized 70,000 shares; issued and outstanding 55,350; 55,340 98,495 98,026
Retained earnings 1,620,799 1,519,658
Total shareholders’ equity 1,719,294 1,617,684
Total liabilities and shareholders’ equity $ 5,606,720 $ 5,433,729
XML 16 R3.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Statement of Financial Position [Abstract]    
Amortized cost on fixed maturities trading investments $ 3,011,979 $ 2,969,541
Cost - equity security trading investments 577,263 544,082
Cost - short-term investments 367,837 254,518
Fixed assets, accumulated depreciation $ 364,015 $ 359,269
Common Stock    
Common stock, no par value (in dollars per share) $ 0 $ 0
Common stock, shares authorized (in shares) 70,000,000 70,000,000
Common stock, shares issued (in shares) 55,350,000 55,340,000
Common stock, shares outstanding (in shares) 55,350,000 55,340,000
XML 17 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues:    
Net premiums earned $ 870,245 $ 808,084
Net investment income 34,174 31,510
Net realized investment gains (losses) 111,074 (58,735)
Other 2,250 2,325
Total revenues 1,017,743 783,184
Expenses:    
Losses and loss adjustment expenses 630,416 632,234
Policy acquisition costs 148,413 140,984
Other operating expenses 67,489 65,399
Interest 4,256 4,266
Total expenses 850,574 842,883
Income (loss) before income taxes 167,169 (59,699)
Income tax expense (benefit) 31,302 (17,092)
Net income (loss) $ 135,867 $ (42,607)
Net income (loss) per share:    
Basic (in dollars per share) $ 2.46 $ (0.77)
Diluted (in dollars per share) $ 2.45 $ (0.77)
Weighted average shares outstanding:    
Basic (in shares) 55,341 55,332
Diluted (in shares) 55,348 55,332
XML 18 R5.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Shareholders' Equity Statement - USD ($)
$ in Thousands
Total
Common Stock [Member]
Retained Earnings [Member]
Shareholders' equity, beginning balance at Dec. 31, 2017   $ 97,523 $ 1,663,864
Proceeds from stock options exercised   0  
Share-based compensation expense   23  
Net income (loss) $ (42,607)    
Dividends paid to shareholders     (34,582)
Shareholders' equity, ending balance at Mar. 31, 2018 1,684,221 97,546 1,586,675
Shareholders' equity, beginning balance at Dec. 31, 2018 1,617,684 98,026 1,519,658
Proceeds from stock options exercised   453  
Share-based compensation expense   16  
Net income (loss) 135,867    
Dividends paid to shareholders     (34,726)
Shareholders' equity, ending balance at Mar. 31, 2019 $ 1,719,294 $ 98,495 $ 1,620,799
XML 19 R6.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 135,867 $ (42,607)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,085 14,148
Net realized investment (gains) losses (111,074) 58,735
Increase in premiums receivable (24,923) (35,117)
Decrease in reinsurance recoverables 106,588 3,673
Changes in current and deferred income taxes 31,338 (17,087)
Increase in deferred policy acquisition costs (4,592) (4,058)
(Decrease) increase in loss and loss adjustment expense reserves (41,800) 20,360
Increase in unearned premiums 37,480 48,417
Increase in accounts payable and accrued expenses 22,742 24,761
Share-based compensation 16 23
Other, net 7,960 7,103
Net cash provided by operating activities 174,687 78,351
Fixed maturity securities available for sale in nature:    
Purchases (146,592) (213,947)
Sales 15,197 60,238
Calls or maturities 80,099 62,673
Equity securities available for sale in nature:    
Purchases (256,696) (249,177)
Sales 227,787 221,616
Changes in securities payable and receivable 15,901 19,537
(Increase) decrease in short-term investments (113,287) 57,110
Purchases of fixed assets (8,430) (6,206)
Other, net 1,421 3,044
Net cash used in investing activities (184,600) (45,112)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (34,726) (34,582)
Proceeds from stock options exercised 453 0
Net cash used in financing activities (34,273) (34,582)
Net decrease in cash (44,186) (1,343)
Cash:    
Beginning of the year 314,291 291,413
End of period 270,105 290,070
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 8,268 8,250
Income taxes refunded, net $ 36 $ 6
XML 20 R7.htm IDEA: XBRL DOCUMENT v3.19.1
General
3 Months Ended
Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
General
General

Consolidation and Basis of Presentation

The interim consolidated financial statements include the accounts of Mercury General Corporation and its subsidiaries (referred to herein collectively as the “Company”). For the list of the Company’s subsidiaries, see Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. These interim financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”), which differ in some respects from those filed in reports to insurance regulatory authorities. The financial data of the Company included herein are unaudited. In the opinion of management, all material adjustments of a normal recurring nature have been made to present fairly the Company’s financial position at March 31, 2019 and the results of operations and cash flows for the periods presented. All intercompany transactions and balances have been eliminated.

Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted from the accompanying interim consolidated financial statements and related notes. Readers are urged to review the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 for more complete descriptions and discussions. Operating results and cash flows for the three months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019.

Certain prior period amounts have been reclassified to conform to the current period presentation.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates require the Company to apply complex assumptions and judgments, and often the Company must make estimates about the effects of matters that are inherently uncertain and will likely change in subsequent periods. The most significant assumptions in the preparation of these consolidated financial statements relate to reserves for losses and loss adjustment expenses. Actual results could differ from those estimates. See Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.
Earnings per Share

There were no potentially dilutive securities with anti-dilutive effect for the three months ended March 31, 2019. Potentially dilutive securities representing approximately 55,000 shares of common stock were excluded from the computation of diluted earnings per common share for the three months ended March 31, 2018 because their effect would have been anti-dilutive. For the three months ended March 31, 2018, the dilutive impact of incremental shares was excluded as the Company generated a net loss.
Dividends per Share

The Company declared and paid a dividend per share of $0.6275 and $0.6250 during the three months ended March 31, 2019 and 2018, respectively.
Deferred Policy Acquisition Costs

Deferred policy acquisition costs consist of commissions paid to outside agents, premium taxes, salaries, and certain other underwriting costs that are incremental or directly related to the successful acquisition of new and renewal insurance contracts and are amortized over the life of the related policy in proportion to premiums earned. Deferred policy acquisition costs are limited to the amount that will remain after deducting from unearned premiums and anticipated investment income, the estimated losses and loss adjustment expenses, and the servicing costs that will be incurred as premiums are earned. The Company’s deferred policy acquisition costs are further limited by excluding those costs not directly related to the successful acquisition of insurance contracts. Deferred policy acquisition cost amortization was $148.4 million and $141.0 million for the three months ended March 31, 2019 and 2018, respectively. The Company does not defer advertising expenditures but expenses them as incurred. The Company recorded net advertising expense of approximately $13.6 million and $13.7 million for the three months ended March 31, 2019 and 2018, respectively.

Reinsurance

Liabilities for unearned premiums and unpaid losses are stated in the accompanying consolidated financial statements before deductions for ceded reinsurance. Unpaid losses and unearned premiums that are ceded to reinsurers are carried in reinsurance recoverables and other assets, respectively, in the Company's consolidated balance sheets. Earned premiums are stated net of deductions for ceded reinsurance.

The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2019. The Treaty provides $205 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $10 million Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake.

The Company recognized ceded premiums earned of approximately $15 million and $13 million for the three months ended March 31, 2019 and 2018, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $(58) million and $1 million for the three months ended March 31, 2019 and 2018, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses for the three months ended March 31, 2019 resulted from re-estimation of the catastrophe loss reserves, including estimated subrogation that primarily benefited the Company's reinsurers, on the 2018 Camp and Woolsey Fires and the 2017 Southern California wildfires, which have been ceded to reinsurers under the Treaty. See Note 11. Loss and Loss Adjustment Expense Reserves for additional information.

The Company's insurance subsidiaries, as primary insurers, are required to pay losses to the extent reinsurers are unable to discharge their obligations under the reinsurance agreements.
Revenue from Contracts with Customers (Topic 606)

The Company's revenue from contracts with customers is commission income earned from third-party insurers by its 100% owned insurance agencies, which amounted to approximately $4.2 million and $4.3 million, with related expenses of $2.7 million and $2.8 million, for the three months ended March 31, 2019 and 2018, respectively. All of the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting (see Note 14. Segment Information).
 
As of March 31, 2019 and December 31, 2018, the Company had no contract assets and contract liabilities, and no remaining performance obligations associated with unrecognized revenues.
XML 21 R8.htm IDEA: XBRL DOCUMENT v3.19.1
Recently Issued Accounting Standards
3 Months Ended
Mar. 31, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]  
Recently Issued Accounting Standards
Recently Issued Accounting Standards

In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software under Subtopic 350-40. This ASU also requires an entity to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement and present such expense in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The entity is also required to present the capitalized implementation costs in the statement of financial position in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented. ASU 2018-15 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company is in the process of evaluating the impact of ASU 2018-15 on its consolidated financial statements and related disclosures.

In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement." The amendments in this ASU require certain existing disclosure requirements in Topic 820 to be modified or removed, and certain new disclosure requirements to be added to the Topic. In addition, this ASU allows entities to exercise more discretion when considering fair value measurement disclosures. ASU 2018-13 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company is in the process of evaluating the impact of ASU 2018-13 on its consolidated financial statements and related disclosures.

In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment." ASU 2017-04 removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of Step 2 of the goodwill impairment test and requires an entity to recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. ASU 2017-04 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company does not anticipate that ASU 2017-04 will have a material impact on its consolidated financial statements and related disclosures.

In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326)." The amendments in this ASU replace the "incurred loss" methodology for recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of information including past events, current conditions and reasonable and supportable forecasts that affect the collectibility of reported amounts of financial assets that are not accounted for at fair value through net income, such as loans, certain debt securities, trade receivables, net investment in leases, off-balance sheet credit exposures and reinsurance receivables. Under the current GAAP incurred loss methodology, recognition of the full amount of credit losses is generally delayed until the loss is probable of occurring. Current GAAP restricts the ability to record credit losses that are expected, but do not yet meet the probability threshold. Subsequently, the FASB has issued additional ASUs on Topic 326 that do not change the core principle of the guidance in ASU 2016-13 but clarify or address certain aspects of it. ASU 2016-13 and the additional ASUs on Topic 326 will be effective for the Company beginning January 1, 2020. While the Company is in the process of evaluating the impact of ASU 2016-13, it does not expect this ASU to have a material impact on its consolidated financial statements and related disclosures as most of its financial instruments with potential exposure to material credit losses are accounted for at fair value through net income.
XML 22 R9.htm IDEA: XBRL DOCUMENT v3.19.1
Financial Instruments
3 Months Ended
Mar. 31, 2019
Financial Instruments, Owned, at Fair Value [Abstract]  
Financial Instruments
Financial Instruments

Financial instruments recorded in the consolidated balance sheets include investments, note receivable, other receivables, options sold, total return swap, accounts payable, and unsecured notes payable. Due to their short-term maturities, the carrying values of other receivables and accounts payable approximate their fair values. All investments are carried at fair value in the consolidated balance sheets.

The following table presents the fair values of financial instruments:
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
(Amounts in thousands)
Assets
 
 
 
Investments
$
4,061,224

 
$
3,768,091

Note receivable
5,588

 
5,557

Liabilities
 
 
 
Total return swap
$
2,312

 
$
4,851

Options sold
716

 
3

Unsecured notes
372,638

 
362,674


Investments
The Company applies the fair value option to all fixed maturity and equity securities and short-term investments at the time an eligible item is first recognized. The cost of investments sold is determined on a first-in and first-out method and realized gains and losses are included in net realized investment gains (losses) in the Company's consolidated statements of operations. See Note 4. Fair Value Option for additional information.

In the normal course of investing activities, the Company either forms or enters into relationships with variable interest entities ("VIEs"). A VIE is an entity that either has investors that lack certain essential characteristics of a controlling financial interest, such as simple majority kick-out rights, or lacks sufficient funds to finance its own activities without financial support provided by other entities. The Company performs ongoing qualitative assessments of the VIEs to determine whether the Company has a controlling financial interest in the VIE and therefore is the primary beneficiary. The Company is deemed to have a controlling financial interest when it has both the ability to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. Based on the Company's assessment, if it determines it is the primary beneficiary, the Company consolidates the VIE in its consolidated financial statements.

The Company forms special purpose investment vehicles to facilitate its investment activities involving derivative instruments such as total return swaps, or limited partnerships such as private equity funds. These special purpose investment vehicles are consolidated VIEs as the Company has determined it is the primary beneficiary of such VIEs. Creditors have no recourse against the Company in the event of default by these VIEs. The Company had no implied or unfunded commitments to these VIEs at March 31, 2019 and December 31, 2018. The Company's financial or other support provided to these VIEs and its loss exposure are limited to its collateral and original investment.

The Company also invests directly in limited partnerships such as private equity funds. These investments are non-consolidated VIEs as the Company has determined it is not the primary beneficiary. The Company's maximum exposure to loss is limited to the total carrying value that is included in equity securities in the Company's consolidated balance sheets. At March 31, 2019 and December 31, 2018, the Company had no outstanding unfunded commitments to these VIEs whereby the Company may be called by the partnerships during the commitment period to fund the purchase of new investments and the expenses of the partnerships.
    
Note Receivable
In August 2017, the Company completed the sale of approximately six acres of land located in Brea, California (the "Property"), for a total sale price of approximately $12.2 million. Approximately $5.7 million of the total sale price was received in the form of a promissory note (the "Note") and the remainder in cash. The Note is secured by a first trust deed and an assignment of rents on the Property, and bears interest at an annual rate of 3.5%, payable in monthly installments. The Note matures in August 2020. Interest earned on the Note is recognized in other revenues in the Company's consolidated statements of operations. The Company elected to apply the fair value option to the Note at the time it was first recognized. The fair value of note receivable is included in other assets in the Company's consolidated balance sheets, while the changes in fair value of note receivable are included in net realized investment gains or losses in the Company's consolidated statements of operations.

Options Sold

The Company writes covered call options through listed and over-the-counter exchanges. When the Company writes an option, an amount equal to the premium received by the Company is recorded as a liability and is subsequently adjusted to the current fair value of the option written. Premiums received from writing options that expire unexercised are treated by the Company as realized gains from investments on the expiration date. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security or currency in determining whether the Company has realized a gain or loss. The Company, as writer of an option, bears the market risk of an unfavorable change in the price of the security underlying the written option. Liabilities for covered call options are included in other liabilities in the Company's consolidated balance sheets.
Total Return Swap
The fair value of the total return swap reflects the estimated amount that, upon termination of the contract, would be received for selling an asset or paid to transfer a liability in an orderly transaction.
Unsecured Notes
The fair value of the Company’s publicly traded $375 million unsecured notes at March 31, 2019 and December 31, 2018 was obtained from a third party pricing service.

For additional disclosures regarding methods and assumptions used in estimating fair values, see Note 5. Fair Value Measurements.
XML 23 R10.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Option
3 Months Ended
Mar. 31, 2019
Fair Value Option [Abstract]  
Fair Value Option
Fair Value Option

The Company applies the fair value option to all fixed maturity and equity investment securities and short-term investments at the time an eligible item is first recognized. In addition, the Company elected to apply the fair value option to the note receivable recognized as part of the sale of land in August 2017. The primary reasons for electing the fair value option were simplification and cost-benefit considerations as well as the expansion of the use of fair value measurement by the Company consistent with the long-term measurement objectives of the FASB for accounting for financial instruments.
Gains or losses due to changes in fair value of financial instruments measured at fair value pursuant to application of the fair value option are included in net realized investment gains or losses in the Company’s consolidated statements of operations. Interest and dividend income on investment holdings are recognized on an accrual basis at each measurement date and are included in net investment income in the Company’s consolidated statements of operations, while interest earned on the note receivable is included in other revenues in the Company’s consolidated statements of operations.

The following table presents gains (losses) due to changes in fair value of investments and the note receivable that are measured at fair value pursuant to the application of the fair value option:
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands)
Fixed maturity securities
$
49,775

 
$
(46,213
)
Equity securities
53,687

 
(11,886
)
Short-term investments
734

 
(392
)
    Total investments
$
104,196

 
$
(58,491
)
Note receivable
31

 
(41
)
       Total gains (losses)
$
104,227

 
$
(58,532
)
XML 24 R11.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Measurement
3 Months Ended
Mar. 31, 2019
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]  
Fair Value Measurement
Fair Value Measurements

The Company employs a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date using the exit price. Accordingly, when market observable data are not readily available, the Company’s own assumptions are used to reflect those that market participants would be presumed to use in pricing the asset or liability at the measurement date. Assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based on the level of judgment associated with inputs used to measure their fair values and the level of market price observability, as follows:
Level 1
Unadjusted quoted prices are available in active markets for identical assets or liabilities as of the reporting date.
Level 2
Pricing inputs are other than quoted prices in active markets, which are based on the following:
 
•     Quoted prices for similar assets or liabilities in active markets;
 
•     Quoted prices for identical or similar assets or liabilities in non-active markets; or
 
•     Either directly or indirectly observable inputs as of the reporting date.
Level 3
Pricing inputs are unobservable and significant to the overall fair value measurement, and the determination of fair value requires significant management judgment or estimation.
In certain cases, inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Thus, a Level 3 fair value measurement may include inputs that are observable (Level 1 or Level 2) and unobservable (Level 3). The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset or liability.
The Company uses prices and inputs that are current as of the measurement date, including during periods of market disruption. In periods of market disruption, the ability to observe prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified from Level 1 to Level 2, or from Level 2 to Level 3. The Company recognizes transfers between levels at either the actual date of the event or a change in circumstances that caused the transfer.
Summary of Significant Valuation Techniques for Financial Assets and Financial Liabilities
The Company’s fair value measurements are based on the market approach, which utilizes market transaction data for the same or similar instruments.
The Company obtained unadjusted fair values on 98.3% of its investment portfolio from an independent pricing service. For a private equity fund that was classified as Level 3 and included in equity securities at March 31, 2019 and December 31, 2018, the Company obtained specific unadjusted broker quotes based on net fund value and, to a lesser extent, unobservable inputs from at least one knowledgeable outside security broker to determine the fair value. The fair value of the private equity fund was $1.2 million and $1.4 million at March 31, 2019 and December 31, 2018, respectively.
Level 1 measurements - Fair values of financial assets and financial liabilities are obtained from an independent pricing service, and are based on unadjusted quoted prices for identical assets or liabilities in active markets. Additional pricing services and closing exchange values are used as a comparison to ensure that reasonable fair values are used in pricing the investment portfolio.
U.S. government bonds /Short-term bonds: Valued using unadjusted quoted market prices for identical assets in active markets.
Common stock: Comprised of actively traded, exchange listed U.S. and international equity securities and valued based on unadjusted quoted prices for identical assets in active markets.
Money market instruments: Valued based on unadjusted quoted prices for identical assets in active markets.
Options sold: Comprised of free-standing exchange listed derivatives that are actively traded and valued based on unadjusted quoted prices for identical instruments in active markets.
Level 2 measurements - Fair values of financial assets and financial liabilities are obtained from an independent pricing service or outside brokers, and are based on prices for similar assets or liabilities in active markets or valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability. Additional pricing services are used as a comparison to ensure reliable fair values are used in pricing the investment portfolio.
Municipal securities: Valued based on models or matrices using inputs such as quoted prices for identical or similar assets in active markets.
Mortgage-backed securities: Comprised of securities that are collateralized by residential and commercial mortgage loans valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets. The Company had holdings of $22.4 million and $24.8 million in commercial mortgage-backed securities at March 31, 2019 and December 31, 2018, respectively.
Corporate securities/Short-term bonds: Valued based on a multi-dimensional model using multiple observable inputs, such as benchmark yields, reported trades, broker/dealer quotes and issue spreads, for identical or similar assets in active markets.
Non-redeemable preferred stock: Valued based on observable inputs, such as underlying and common stock of same issuer and appropriate spread over a comparable U.S. Treasury security, for identical or similar assets in active markets.
Total return swap: Valued based on multi-dimensional models using inputs such as interest rate yield curves, underlying debt/credit instruments and the appropriate benchmark spread for similar assets in active markets, observable for substantially the full term of the contract.
Collateralized loan obligations ("CLOs"): Valued based on underlying debt instruments and the appropriate benchmark spread for similar assets in active markets.
Other asset-backed securities: Comprised of securities that are collateralized by non-mortgage assets, such as automobile loans, valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets.
Note receivable: Valued based on observable inputs, such as benchmark yields, and considering any premium or discount for the differential between the stated interest rate and market interest rates, based on quoted market prices of similar instruments.
Level 3 measurements - Fair values of financial assets are based on inputs that are both unobservable and significant to the overall fair value measurement, including any items in which the evaluated prices obtained elsewhere were deemed to be of a distressed trading level.
Private equity fund: Private equity fund, excluding a private equity fund measured at net asset value ("NAV"), is valued based on underlying investments of the fund or assets similar to such investments in active markets, taking into consideration specific unadjusted broker quotes based on net fund value and unobservable inputs from at least one knowledgeable outside security broker related to liquidity assumptions.
Fair value measurement using NAV practical expedient - The fair value of the Company's investment in private equity fund measured at net asset value is determined using NAV as advised by the external fund manager and the third party administrator. The NAV of the Company's limited partnership interest in this fund is based on the manager's and the administrator's valuation of the underlying holdings in accordance with the fund's governing documents and GAAP. In accordance with applicable accounting guidance, this investment, measured at fair value using the NAV practical expedient, is not classified in the fair value hierarchy. The strategy of the fund is to provide current income to investors by investing mainly in equity tranches and sub-investment grade rated debt tranches of CLO issuers in the new and secondary markets, and equity interests in vehicles established to purchase and warehouse loans in anticipation of a CLO closing or to satisfy regulatory risk retention requirements associated with certain CLOs. The Company has made all of its capital contributions in the fund and had no outstanding unfunded commitments at March 31, 2019 with respect to this fund. The underlying assets of the fund are expected to be liquidated over the period of approximately one to four years from March 31, 2019. The Company does not have the contractual option to redeem but will receive distributions based on the liquidation of the underlying assets and the interest proceeds from the underlying assets. In addition, the Company does not have the ability to withdraw from the fund, or to sell, assign, pledge or transfer its investment, without the consent from the general partner of the fund.
The Company’s financial instruments at fair value are reflected in the consolidated balance sheets on a trade-date basis. Related unrealized gains or losses are recognized in net realized investment gains or losses in the consolidated statements of operations. Fair value measurements are not adjusted for transaction costs.

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values:

 
March 31, 2019
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Assets
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
U.S. government bonds
$
23,786

 
$

 
$

 
$
23,786

Municipal securities

 
2,695,108

 

 
2,695,108

Mortgage-backed securities

 
28,438

 

 
28,438

Corporate securities

 
118,024

 

 
118,024

Collateralized loan obligations

 
172,963

 

 
172,963

Other asset-backed securities

 
39,054

 

 
39,054

Total fixed maturity securities
23,786

 
3,053,587

 

 
3,077,373

Equity securities:
 
 
 
 
 
 
 
Common stock
513,908

 

 

 
513,908

Non-redeemable preferred stock

 
33,739

 

 
33,739

Private equity fund

 

 
1,213

 
1,213

Private equity fund measured at net asset value (1)
 
 
 
 
 
 
67,640

Total equity securities
513,908

 
33,739

 
1,213

 
616,500

Short-term investments:
 
 
 
 
 
 
 
Short-term bonds
32,801

 
19,869

 

 
52,670

Money market instruments
314,681

 

 

 
314,681

Total short-term investments
347,482

 
19,869

 

 
367,351

Other assets:
 
 
 
 
 
 
 
Note receivable

 
5,588

 

 
5,588

Total assets at fair value
$
885,176

 
$
3,112,783

 
$
1,213

 
$
4,066,812

Liabilities
 
 
 
 
 
 
 
Other liabilities:
 
 
 
 
 
 
 
Total return swap
$

 
$
2,312

 
$

 
$
2,312

Options sold
716

 

 

 
716

Total liabilities at fair value
$
716


$
2,312


$


$
3,028

 
December 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Assets
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
U.S. government bonds
$
25,003

 
$

 
$

 
$
25,003

Municipal securities

 
2,620,132

 

 
2,620,132

Mortgage-backed securities

 
30,952

 

 
30,952

Corporate securities

 
105,524

 

 
105,524

Collateralized loan obligations

 
165,789

 

 
165,789

Other asset-backed securities

 
37,761

 

 
37,761

Total fixed maturity securities
25,003

 
2,960,158

 

 
2,985,161

Equity securities:
 
 
 
 
 
 
 
Common stock
430,973

 

 

 
430,973

Non-redeemable preferred stock

 
31,433

 

 
31,433

Private equity fund

 

 
1,445

 
1,445

Private equity fund measured at net asset value (1)
 
 
 
 
 
 
65,780

Total equity securities
430,973

 
31,433

 
1,445

 
529,631

Short-term investments:
 
 
 
 
 
 
 
Short-term bonds
31,472

 
16,784

 

 
48,256

Money market instruments
205,043

 

 

 
205,043

Total short-term investments
236,515

 
16,784

 

 
253,299

Other assets:
 
 
 
 
 
 


Note receivable

 
5,557

 

 
5,557

Total assets at fair value
$
692,491


$
3,013,932


$
1,445


$
3,773,648

Liabilities
 
 
 
 
 
 
 
Other liabilities:
 
 
 
 
 
 
 
Total return swap
$

 
$
4,851

 
$

 
$
4,851

Options sold
3

 

 

 
3

Total liabilities at fair value
$
3

 
$
4,851

 
$

 
$
4,854


__________ 
(1) The fair value is measured using the NAV practical expedient; therefore, it is not categorized within the fair value hierarchy. The fair value amount is presented in this table to permit reconciliation of the fair value hierarchy to the amounts presented in the Company's consolidated balance sheets.

The following table presents a summary of changes in fair value of Level 3 financial assets and financial liabilities:
 
 
Private Equity Fund
 
 
Three Months Ended March 31,
 
 
2019
 
2018
 
 
 
 
 
 
 
(Amounts in thousands)
Beginning balance
 
$
1,445

 
$
1,481

     Realized gains (losses) included in earnings
 
111

 
(31
)
Settlements
 
(343
)
 

Ending balance
 
$
1,213

 
$
1,450

The amount of total gains (losses) for the period included in earnings attributable to assets still held at March 31
 
$
103

 
$
(31
)


There were no transfers between Levels 1, 2, and 3 of the fair value hierarchy during the three months ended March 31, 2019 and 2018.

At March 31, 2019, the Company did not have any nonrecurring fair value measurements of nonfinancial assets or nonfinancial liabilities.
Financial Instruments Disclosed, But Not Carried, at Fair Value
The following tables present the carrying value and fair value of the Company’s financial instruments disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such instruments are categorized:
 
March 31, 2019
 
Carrying Value
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
 
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Liabilities
 
 
 
 
 
 
 
 
 
Notes payable:
 
 
 
 
 
 
 
 
 
Unsecured notes
$
371,834

 
$
372,638

 
$

 
$
372,638

 
$

 
December 31, 2018
 
Carrying Value
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
 
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Liabilities
 
 
 
 
 
 
 
 
 
Notes payable:
 
 
 
 
 
 
 
 
 
Unsecured notes
$
371,734

 
$
362,674

 
$

 
$
362,674

 
$



Unsecured Notes
The fair value of the Company’s publicly traded $375 million unsecured notes at March 31, 2019 and December 31, 2018 was based on the spreads above the risk-free yield curve. These spreads are generally obtained from the new issue market, secondary trading and broker-dealer quotes.
See Note 12. Notes Payable for additional information on unsecured notes.
XML 25 R12.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Notes)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Leases
Leases

The Company adopted ASU 2016-02, "Leases (Topic 842)," which supersedes the guidance in Accounting Standards Codification ("ASC") 840, "Leases," on January 1, 2019, using a modified retrospective transition, with the cumulative-effect adjustment to the opening balance of retained earnings as of the effective date (the "effective date method"). Under the effective date method, financial results reported in periods prior to 2019 are unchanged. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company not to reassess (a) whether arrangements contain leases, (b) lease classification and (c) initial direct costs. Adoption of the new standard resulted in the recognition of operating lease right-of-use ("ROU") assets and operating lease liabilities of approximately $41 million and $43 million, respectively, at the adoption date for the Company's operating leases. The difference of approximately $2 million between the operating lease ROU assets and operating lease liabilities represents reclassification of deferred rent liability (the difference between the straight-line rent expenses and paid rent amounts under the leases) to operating lease ROU assets from other liabilities at the adoption date. The Company did not have any cumulative-effect adjustment as a result of the adoption.

The Company has operating leases for office space for insurance operations and administrative functions, automobiles for general uses and certain employees, and office equipment such as printers and computers. As of March 31, 2019, the Company's leases had remaining terms ranging from less than one year to approximately 7 years. These leases may contain provisions for periodic adjustments to rates and charges applicable under such lease agreements. These rates and charges also may vary with the Company's level of uses. Certain of these leases include one or more options to renew or early terminate, and the exercise of these options is at our sole discretion. Certain leases also include options to purchase the leased property. The Company's lease agreements do not contain any residual value guarantees.

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease ROU assets and operating lease liabilities in the Company's consolidated balance sheets. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term.
The Company uses its estimated incremental borrowing rate for office space and office equipment leases, which is derived from information available at the lease commencement date, in determining the present value of lease payments, as the implicit rate is not readily available for such leases. The Company gives consideration to its recent debt issuances as well as publicly available data for instruments with similar characteristics when calculating its incremental borrowing rates. For automobile leases, the Company uses a rate implicit in the lease at the lease commencement date in determining the present value of lease payments, as the readily-determinable implicit rate is provided in such leases. The Company's lease terms include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The Company does not use the short-term lease exemption practical expedient and records all leases on the balance sheets, including leases with a term of twelve months or less. The Company accounts for the lease and non-lease components as a single lease component for all of its leases. Lease expense for scheduled lease payments is recognized on a straight-line basis over the lease term.

The components of lease expense were as follows:
 
 
 
 
Three Months Ended March 31, 2019
Lease Cost
 
Classification
 
 
 
 
 
(Amounts in thousands)
Operating lease cost (1)
 
Other operating expenses
 
$
3,190

Variable lease cost (1)
 
Other operating expenses
 
739

Total lease cost
 
 
 
3,929

__________ 
(1) Includes short-term leases, which are immaterial.

Supplemental balance sheet information related to leases was as follows:
 
 
March 31, 2019
 
 
(Amounts in thousands)
Operating lease ROU assets
 
$
41,275

Operating lease liabilities
 
43,439



Weighted-average lease term and discount rate were as follows:
 
 
March 31, 2019
Weighted-average remaining lease term (in years):
 
 
      Operating leases
 
3.9

 
 
 
Weighted-average discount rate:
 
 
      Operating leases
 
3.29
%

Supplemental cash flow and other information related to leases was as follows:
 
 
Three Months Ended March 31, 2019
 
 
 
 
(Amounts in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
 
 
      Operating cash flows from operating leases
 
$
3,316

 
 
 
ROU assets obtained in exchange for lease liabilities:
 
 
      Operating leases
 
1,892









Maturities of lease liabilities as of March 31, 2019 were as follows:
Year
 
Operating Leases
 
 
(Amounts in thousands)
Remainder of 2019
 
$
10,171

2020
 
12,455

2021
 
9,699

2022
 
7,573

2023
 
4,130

2024 and thereafter
 
2,446

          Total lease payments
 
46,474

Less: Imputed interest
 
3,035

          Total lease obligations
 
43,439



As of March 31, 2019, the Company had additional operating lease commitments that have not yet commenced of approximately $6.5 million with each lease term ranging from approximately 1 year to 8 years. These operating leases will commence in 2019.

Disclosures related to periods prior to adoption of ASC Topic 842

Total rent expense recognized under the Company's various lease agreements was $3.6 million for the three months ended March 31, 2018. The following table presents future minimum commitments for operating leases as of December 31, 2018:
Year Ending December 31,
 
Operating Leases
 
 
(Amounts in thousands)
2019
 
$
12,812

2020
 
11,547

2021
 
8,732

2022
 
6,972

2023
 
3,659

Thereafter
 
1,966

XML 26 R13.htm IDEA: XBRL DOCUMENT v3.19.1
Derivative Financial Instruments
3 Months Ended
Mar. 31, 2019
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Derivative Financial Instruments
Derivative Financial Instruments

The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is equity price risk. Equity contracts (options sold) on various equity securities are intended to manage the price risk associated with forecasted purchases or sales of such securities.

The Company also enters into derivative contracts to enhance returns on its investment portfolio.
On February 13, 2014, Fannette Funding LLC (“FFL”), a special purpose investment vehicle formed by and consolidated into the Company, entered into a total return swap agreement with Citibank. Under the agreement, FFL receives the income equivalent on underlying obligations due to Citibank and pays to Citibank interest on the outstanding notional amount of the underlying obligations. The total return swap is secured by approximately $31 million of U.S. Treasuries as collateral, which are included in short-term investments on the consolidated balance sheets. The Company paid interest at the rate of LIBOR plus 128 basis points prior to the renewal of the agreement in January 2018, LIBOR plus 120 basis points subsequent to the January 2018 renewal through July 2018, and LIBOR plus 105 basis points subsequent to the July 2018 renewal on the outstanding notional amount of the underlying obligations, which was approximately $106 million and $100 million as of March 31, 2019 and December 31, 2018, respectively. The agreement had an initial term of one year, subject to periodic renewal. In July 2018, the agreement was renewed through January 24, 2020, and the interest rate was changed to LIBOR plus 105 basis points.





The following tables present the location and amounts of derivative fair values in the consolidated balance sheets and derivative gains or losses in the consolidated statements of operations:
 
Liability Derivatives
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
(Amount in thousands)
Options sold - Other liabilities
$
716

 
$
3

Total return swap - Other liabilities
2,312

 
4,851

Total derivatives
$
3,028

 
$
4,854


 
Gains (Losses) Recognized in Income
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands)
Total return swap - Net realized investment gains (losses)
$
1,766

 
$
602

Options sold - Net realized investment gains (losses)
873

 
2,922

Total
$
2,639

 
$
3,524


Most options sold consist of covered calls. The Company writes covered calls on underlying equity positions held as an enhanced income strategy that is permitted for the Company’s insurance subsidiaries under statutory regulations. The Company manages the risk associated with covered calls through strict capital limitations and asset diversification throughout various industries. See Note 5. Fair Value Measurements for additional disclosures regarding options sold.
XML 27 R14.htm IDEA: XBRL DOCUMENT v3.19.1
Goodwill and Other Intangible Assets
3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
Goodwill
There were no changes in the carrying amount of goodwill during the three months ended March 31, 2019 and 2018. Goodwill is reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during the three months ended March 31, 2019 and 2018. All of the Company's goodwill is associated with the Property and Casualty business segment (See Note 14. Segment Information for additional information on the reportable business segment).
Other Intangible Assets
The following table presents the components of other intangible assets:
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Carrying
Amount
 
Useful Lives
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
 
(in years)
As of March 31, 2019:
 
 
 
 
 
 
 
Customer relationships
$
53,212

 
$
(48,998
)
 
$
4,214

 
11
Trade names
15,400

 
(6,577
)
 
8,823

 
24
Technology
4,300

 
(4,300
)
 

 
10
Insurance license
1,400

 

 
1,400

 
Indefinite
Total other intangible assets, net
$
74,312

 
$
(59,875
)
 
$
14,437

 
 
 
 
 
 
 
 
 
 
As of December 31, 2018:
 
 
 
 

 
 
Customer relationships
$
53,048

 
$
(47,897
)
 
$
5,151

 
11
Trade names
15,400

 
(6,417
)
 
8,983

 
24
Technology
4,300

 
(4,300
)
 

 
10
Insurance license
1,400

 

 
1,400

 
Indefinite
Total other intangible assets, net
$
74,148

 
$
(58,614
)
 
$
15,534

 
 


Other intangible assets are reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during the three months ended March 31, 2019 and 2018.
Other intangible assets with definite useful lives are amortized on a straight-line basis over their useful lives. Other intangible assets amortization expense was $1.3 million and $1.4 million for the three months ended March 31, 2019 and 2018, respectively.

The following table presents the estimated future amortization expense related to other intangible assets as of March 31, 2019:
Year
 
Amortization Expense
 
 
(Amounts in thousands)
Remainder of 2019
 
$
3,802

2020
 
922

2021
 
902

2022
 
878

2023
 
714

Thereafter
 
5,819

Total
 
$
13,037

XML 28 R15.htm IDEA: XBRL DOCUMENT v3.19.1
Share-Based Compensation
3 Months Ended
Mar. 31, 2019
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]  
Share-Based Compensation
Share-Based Compensation

In February 2015, the Company's Board of Directors adopted the 2015 Incentive Award Plan (the "2015 Plan"), replacing the 2005 Equity Incentive Plan which expired in January 2015. The 2015 Plan was approved at the Company's Annual Meeting of Shareholders in May 2015. A maximum of 4,900,000 shares of common stock are authorized for issuance under the 2015 Plan upon exercise of stock options, stock appreciation rights and other awards, or upon vesting of restricted stock unit ("RSU") or deferred stock awards. As of March 31, 2019, the Company had 70,000 stock options granted and outstanding and 4,830,000 shares of common stock available for future grant under the 2015 Plan.

Share-based compensation expenses for all stock options granted or modified are based on their estimated grant-date fair values. These compensation costs are recognized on a straight-line basis over the requisite service period of the award. The Company estimates forfeitures expected to occur in determining the amount of compensation cost to be recognized in each period. As of March 31, 2019, all outstanding stock options have a term of ten years from the date of grant and become exercisable in four equal installments on the first through fourth anniversaries of the grant date. The fair value of stock option awards is estimated using the Black-Scholes option pricing model with the grant-date assumptions and weighted-average fair values.

In February 2018, the Compensation Committee of the Company's Board of Directors awarded a total of 80,000 stock options to four senior executives under the 2015 Plan which will vest over the four-year requisite service period. 10,000 of these stock options were forfeited in February 2019 following the departure of a senior executive. The fair values of these stock options were estimated on the date of grant using a closed-form option valuation model (Black-Scholes).

The following table provides the assumptions used in the calculation of grant-date fair values of these stock options based on the Black-Scholes option pricing model:
Weighted-average grant-date fair value
$
8.09

Expected volatility
33.18
%
Risk-free interest rate
2.62
%
Expected dividend yield
5.40
%
Expected term in months
72



Expected volatilities are based on historical volatility of the Company’s stock over the term of the stock options. The Company estimated the expected term of stock options, which represents the period of time that stock options granted are expected to be outstanding, by using historical exercise patterns and post-vesting termination behavior. The risk-free interest rate is determined based on U.S. Treasury yields with equivalent remaining terms in effect at the time of the grant.
As of March 31, 2019, the Company had $0.4 million of unrecognized compensation expense related to stock options awarded under the 2015 Plan, which will be recognized ratably over the remaining vesting period of approximately 2.9 years.
The fair value of each RSU grant was determined based on the market price of the Company's common stock on the grant date for awards classified as equity and on each reporting date for awards classified as liability. The RSUs vested at the end of a three-year performance period beginning with the year of the grant, and then only if, and to the extent that, the Company’s performance during the performance period achieved the threshold established by the Compensation Committee of the Company’s Board of Directors. Performance thresholds were based on the Company’s cumulative underwriting income, annual underwriting income, and net earned premium growth. Compensation cost was recognized based on management’s best estimate of the performance goals that would be achieved at the end of the performance period, taking into account expected forfeitures. If the minimum performance goals were not expected to be met, no compensation cost was recognized and any recognized compensation cost was reversed.

In February 2019, based on certification by the Compensation Committee of the Company's Board of Directors of the results of the three-year performance period ended December 31, 2018, all of the outstanding RSUs granted in 2016 expired unvested because the Company did not meet the minimum three-year performance threshold.

In March 2018, based on certification by the Compensation Committee of the Company's Board of Directors of the results of the three-year performance period ended December 31, 2017, all of the outstanding RSUs granted in 2015 expired unvested because the Company did not meet the minimum three-year performance threshold.
No RSUs or stock options were awarded during the three months ended March 31, 2019.
XML 29 R16.htm IDEA: XBRL DOCUMENT v3.19.1
Income Taxes
3 Months Ended
Mar. 31, 2019
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]  
Income Taxes
Income Taxes

For financial statement purposes, the Company recognizes tax benefits related to positions taken, or expected to be taken, on a tax return only if, the positions are “more-likely-than-not” sustainable. Once this threshold has been met, the Company’s measurement of its expected tax benefits is recognized in its consolidated financial statements.

There was a $71,000 increase to the total amount of unrecognized tax benefits related to tax uncertainties during the three months ended March 31, 2019. The increase was the result of tax positions taken regarding California state tax issues based on management’s best judgment given the facts, circumstances, and information available at the reporting date.

The Company and its subsidiaries file income tax returns with the Internal Revenue Service and the taxing authorities of various states. Tax years that remain subject to examination by major taxing jurisdictions are 2015 through 2017 for federal taxes and 2011 through 2017 for California state taxes. For tax years 2003 through 2010, the Company achieved a resolution with the Franchise Tax Board (“FTB”) in December 2017 and paid a negotiated settlement amount in accordance with the settlement agreement provided by the FTB and signed by the Company. The settlement agreement was approved and executed in the first quarter of 2019.

The Company is currently under examination for tax years 2011 through 2016. For tax years 2011 through 2013, the FTB issued Notices of Proposed Assessments ("NPAs") to the Company, for which the Company submitted a formal protest in 2018. If a reasonable settlement is not reached, the Company intends to pursue other options, including a formal hearing with the FTB, an appeal with the California Office of Tax Appeals, or litigation in Superior Court. For tax years 2014 through 2016, the FTB commenced its audit in December 2017 and has not yet completed its audit.

The Company believes that the resolution of these examinations and assessments will not have a material impact on the consolidated financial statements.

Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting basis and the respective tax basis of the Company’s assets and liabilities, and expected benefits of utilizing net operating loss, capital loss, and tax-credit carryforwards. The Company assesses the likelihood that its deferred tax assets will be realized and, to the extent management does not believe these assets are more likely than not to be realized, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or laws is recognized in earnings in the period that includes the enactment date.

At March 31, 2019, the Company’s deferred income taxes were in a net liability position, which included a combination of ordinary and capital deferred tax expenses or benefits. In assessing the Company’s ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon generating sufficient taxable income of the appropriate character within the carryback and carryforward periods available under the tax law. Management considers the reversal of deferred tax liabilities, projected future taxable income of an appropriate nature, and tax planning strategies in making this assessment. The Company believes that through the use of prudent tax planning strategies and the generation of capital gains, sufficient income will be realized in order to maximize the full benefits of its deferred tax assets. Although realization is not assured, management believes that it is more likely than not that the Company’s deferred tax assets will be realized.
XML 30 R17.htm IDEA: XBRL DOCUMENT v3.19.1
Loss And Loss Adjustment Expense Reserves
3 Months Ended
Mar. 31, 2019
Insurance Loss Reserves [Abstract]  
Loss And Loss Adjustment Expense Reserves
Loss and Loss Adjustment Expense Reserves

The following table presents the activity in loss and loss adjustment expense reserves:
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands)
Gross reserves at January 1 
$
1,829,412

 
$
1,510,613

Less reinsurance recoverables on unpaid losses
(180,859
)
 
(64,001
)
Net reserves at January 1
1,648,553

 
1,446,612

Incurred losses and loss adjustment expenses related to:
 
 
 
Current year
629,054

 
589,582

Prior years
1,362

 
42,652

Total incurred losses and loss adjustment expenses
630,416

 
632,234

Loss and loss adjustment expense payments related to:
 
 
 
Current year
274,273

 
254,841

Prior years
344,718

 
345,826

Total payments
618,991

 
600,667

Net reserves at March 31
1,659,978

 
1,478,179

Reinsurance recoverables on unpaid losses
127,634

 
52,794

Gross reserves at March 31
$
1,787,612

 
$
1,530,973



The increase in the provision for insured events of prior years in 2019 of approximately $1.4 million was primarily attributable to higher than estimated automobile losses, partially offset by lower than estimated California homeowners losses largely due to reductions in the Company's retained losses on the Camp and Woolsey Fires under the Treaty after accounting for the assignment of subrogation rights and re-estimation of reserves as part of normal reserving procedures, as described further below. The increase in the provision for insured events of prior years in 2018 of approximately $42.7 million was primarily attributable to higher than estimated California automobile losses resulting from severity in excess of expectations for bodily injury claims.

For the three months ended March 31, 2019 and 2018, the Company recorded catastrophe losses net of reinsurance of approximately $5 million and $9 million, respectively. Gross catastrophe losses due to the catastrophe events that occurred during the three months ended March 31, 2019 totaled approximately $11 million resulting primarily from winter storms in California, with no reinsurance benefits used for these losses. These losses were partially offset by favorable development of approximately $6 million on prior years' catastrophe losses, primarily from reductions in the Company’s retained portion of losses on the Camp and Woolsey Fires, as described above and below. The 2018 catastrophe losses were primarily due to winter storms and mudslides in California and winter storms in the states along the Atlantic Seaboard, with no reinsurance benefits used for these losses.

During the first quarter of 2019, the Company completed the sale of its subrogation rights related to the 2018 Camp and Woolsey Fires and the 2017 Thomas Fire (which was a component of the "2017 Southern California fires") to a third party. The Company’s reinsurers were the primary beneficiaries of this transaction, as they had absorbed most of the losses under the terms of the Treaty. The Company has re-estimated its gross and net losses from the 2018 Camp and Woolsey Fires and the 2017 Southern California fires. At March 31, 2019, the Company estimates that its total gross losses from these catastrophes, after accounting for the assignment of subrogation rights and adjustments made to claims reserves as part of normal reserving procedures, were approximately $208 million, and its total net losses, after reinsurance benefits, were approximately $40 million. The Company benefited by approximately $10 million, before taxes, in the first quarter of 2019 from the sale of the subrogation rights, including adjustments made to the associated claims as a result of normal reserving procedures, reductions in the Company's retained portion of losses on the Camp and Woolsey Fires, and reduced reinstatement premiums recognized.
XML 31 R18.htm IDEA: XBRL DOCUMENT v3.19.1
Notes Payable
3 Months Ended
Mar. 31, 2019
Notes Payable [Abstract]  
Notes Payable
Notes Payable

The following table presents information about the Company's notes payable:
 
 
Lender
 
Interest Rate
 
Maturity Date
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Senior unsecured notes(1)
 
Publicly traded
 
4.40%
 
March 15, 2027
 
$
375,000

 
$
375,000

Unsecured credit facility(2)
 
Bank of America and Wells Fargo Bank
 
LIBOR plus 112.5-162.5 basis points
 
March 29, 2022
 

 

    Total principal amount
 
 
 
 
 
 
 
375,000

 
375,000

Less unamortized discount and debt issuance costs(3)
 
 
 
 
 
 
 
3,166

 
3,266

Total debt
 
 
 
 
 
 
 
$
371,834

 
$
371,734

__________ 
(1) 
On March 8, 2017, the Company completed a public debt offering issuing $375 million of senior notes. The notes are unsecured, senior obligations of the Company with a 4.4% annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. These notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off amounts outstanding under the existing loan and credit facilities and for general corporate purposes. The Company incurred debt issuance costs of approximately $3.4 million, inclusive of underwriters' fees. The notes were issued at a slight discount of 99.847% of par, resulting in the effective annualized interest rate including debt issuance costs of approximately 4.45%.
(2) 
On March 29, 2017, the Company entered into an unsecured credit agreement that provides for revolving loans of up to $50 million and matures on March 29, 2022. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from LIBOR plus 112.5 basis points when the ratio is under 15% to LIBOR plus 162.5 basis points when the ratio is greater than or equal to 25%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 15% to 22.5 basis points when the ratio is greater than or equal to 25%. The debt to total capital ratio is expressed as a percentage of (a) consolidated debt to (b) consolidated shareholders' equity plus consolidated debt. The Company's debt to total capital ratio was 17.9% at March 31, 2019, resulting in a 15 basis point commitment fee on the $50 million undrawn portion of the credit facility. As of April 25, 2019, there have been no borrowings under this facility.
(3) 
The unamortized discount and debt issuance costs are associated with the publicly traded $375 million senior unsecured notes. These are amortized to interest expense over the life of the notes, and the unamortized balance is presented in the Company's consolidated balance sheets as a direct deduction from the carrying amount of the debt. The unamortized debt issuance cost of approximately $0.2 million associated with the $50 million five-year unsecured revolving credit facility maturing on March 29, 2022 is included in other assets in the Company's consolidated balance sheets and amortized to interest expense over the term of the credit facility.
XML 32 R19.htm IDEA: XBRL DOCUMENT v3.19.1
Contingencies
3 Months Ended
Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Contingencies
Contingencies

The Company is, from time to time, named as a defendant in various lawsuits or regulatory actions incidental to its insurance business. The majority of lawsuits brought against the Company relate to insurance claims that arise in the normal course of business and are reserved for through the reserving process. For a discussion of the Company’s reserving methods, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

In March 2006, the California DOI issued an Amended Notice of Non-Compliance to a Notice of Non-Compliance originally issued in February 2004 (as amended, “2004 NNC”) alleging that the Company charged rates in violation of the California Insurance Code, willfully permitted its agents to charge broker fees in violation of California law, and willfully misrepresented the actual price insurance consumers could expect to pay for insurance by the amount of a fee charged by the consumer's insurance broker. The California DOI sought to impose a fine for each policy on which the Company allegedly permitted an agent to charge a broker fee, to impose a penalty for each policy on which the Company allegedly used a misleading advertisement, and to suspend certificates of authority for a period of one year. In January 2012, the administrative law judge bifurcated the 2004 NNC between (a) the California DOI’s order to show cause (the “OSC”), in which the California DOI asserts the false advertising allegations and accusation, and (b) the California DOI’s notice of noncompliance (the “NNC”), in which the California DOI asserts the unlawful rate allegations. In February 2012, the administrative law judge (“ALJ”) submitted a proposed decision dismissing the NNC, but the Commissioner rejected the ALJ’s proposed decision. The Company challenged the rejection in Los Angeles Superior Court in April 2012, and the Commissioner responded with a demurrer. Following a hearing, the Superior Court sustained the Commissioner’s demurrer, based on the Company’s failure to exhaust its administrative remedies, and the Company appealed. The Court of Appeal affirmed the Superior Court's ruling that the Company was required to exhaust its administrative remedies, but expressly preserved for later appeal the legal basis for the ALJ’s dismissal: violation of the Company’s due process rights. Following an evidentiary hearing in April 2013, post-hearing briefs, and an unsuccessful mediation, the ALJ closed the evidentiary record on April 30, 2014. Although a proposed decision was to be submitted to the Commissioner on or before June 30, 2014, after which the Commissioner would have 100 days to accept, reject or modify the proposed decision, the proposed decision was not submitted until December 8, 2014. On January 7, 2015, the Commissioner adopted the ALJ’s proposed decision, which became the Commissioner’s adopted order (the "Order"). The decision and Order found that from the period July 1, 1996, through 2006, the Company’s "brokers" were actually operating as "de facto agents" and that the charging of "broker fees" by these producers constituted the charging of "premium" in excess of the Company's approved rates, and assessed a civil penalty in the amount of $27.6 million against the Company. On February 9, 2015, the Company filed a Writ of Administrative Mandamus and Complaint for Declaratory Relief (the “Writ”) in the Orange County Superior Court seeking, among other things, to require the Commissioner to vacate the Order, to stay the Order while the Superior Court action is pending, and to judicially declare as invalid the Commissioner’s interpretation of certain provisions of the California Insurance Code. Subsequent to the filing of the Writ, a consumer group petitioned and was granted the right to intervene in the Superior Court action. The Court did not order a stay, and the $27.6 million assessed penalty was paid in March 2015. The Company filed an amended Writ on September 11, 2015, adding an explicit request for a refund of the penalty, with interest.

On August 12, 2016, the Superior Court issued its ruling on the Writ, for the most part granting the relief sought by the Company. The Superior Court found that the Commissioner and the California DOI did commit due process violations, but declined to dismiss the case on those grounds. The Superior Court also agreed with the Company that the broker fees at issue were not premium, and that the penalties imposed by the Commissioner were improper, and therefore vacated the Order imposing the penalty. The Superior Court entered final judgment on November 17, 2016, issuing a writ requiring the Commissioner to refund the entire penalty amount within 120 days, plus prejudgment interest at the statutory rate of 7%. On January 12, 2017, the California DOI filed a notice of appeal of the Superior Court's judgment entered on November 17, 2016. While the appeal is still pending, the California DOI returned the entire penalty amount plus accrued interest, a total of $30.9 million, to the Company in June 2017 in order to avoid accruing further interest. Because the matter has been appealed, the Company has not yet recognized the $30.9 million as a gain in the consolidated statements of operations; instead, the Company recorded the $30.9 million plus interest earned, a total of approximately $31.8 million at March 31, 2019, in other liabilities in the consolidated balance sheets. The Company had filed a motion to dismiss the false advertising portion of the case based on the Superior Court's findings, but the ALJ denied that motion after the appeal was filed. The ALJ did, however, grant the Company's alternative request to stay further proceedings pending the final determination of the appeal. The Company has accrued a liability for the estimated cost to continue to defend itself in the false advertising OSC. Based upon its understanding of the facts and the California Insurance Code, the Company does not expect that the ultimate resolution of the false advertising OSC will be material to its financial position.

The Company establishes reserves for non-insurance claims related lawsuits, regulatory actions, and other contingencies when the Company believes a loss is probable and is able to estimate its potential exposure. For loss contingencies believed to be reasonably possible, the Company also discloses the nature of the loss contingency and an estimate of the possible loss, range of loss, or a statement that such an estimate cannot be made. While actual losses may differ from the amounts recorded and the ultimate outcome of the Company's pending actions is generally not yet determinable, the Company does not believe that the ultimate resolution of currently pending legal or regulatory proceedings, either individually or in the aggregate, will have a material adverse effect on its financial condition or cash flows.

In all cases, the Company vigorously defends itself unless a reasonable settlement appears appropriate. For a discussion of legal matters, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.
XML 33 R20.htm IDEA: XBRL DOCUMENT v3.19.1
Segment Information
3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Segment Information
Segment Information

The Company is primarily engaged in writing personal automobile insurance and provides related property and casualty insurance products to its customers through 14 subsidiaries in 11 states, principally in California.
The Company has one reportable business segment - the Property and Casualty business segment.
The Company’s Chief Operating Decision Maker evaluates operating results based on pre-tax underwriting results which is calculated as net premiums earned less (a) losses and loss adjustment expenses and (b) underwriting expenses (policy acquisition costs and other operating expenses).
Expenses are allocated based on certain assumptions that are primarily related to premiums and losses. The Company’s net investment income, net realized investment gains or losses, other income, and interest expense are excluded in evaluating pretax underwriting profit. The Company does not allocate its assets, including investments, or income taxes in evaluating pre-tax underwriting profit.
Property and Casualty Lines
The Property and Casualty business segment offers several insurance products to the Company’s individual customers and small business customers. These insurance products are: private passenger automobile which is the Company’s primary business, and related insurance products such as homeowners, commercial automobile and commercial property. These related insurance products are primarily sold to the Company’s individual customers and small business customers, which increases retention of the Company’s private passenger automobile client base. The insurance products comprising the Property and Casualty business segment are sold through the same distribution channels, mainly through independent and 100% owned insurance agents, and go through a similar underwriting process.
Other Lines
The Other business segment represents net premiums written and earned from an operating segment that does not meet the quantitative thresholds required to be considered a reportable segment. This operating segment offers automobile mechanical protection warranties which are primarily sold through automobile dealerships and credit unions.
The following table presents the Company's operating results by reportable segment:
 
Three Months Ended March 31,
 
2019
 
2018
 
Property & Casualty
 
Other
 
Total
 
Property & Casualty
 
Other
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
(Amounts in millions)
Net premiums earned
$
863.1

 
$
7.1

 
$
870.2

 
$
800.3

 
$
7.8

 
$
808.1

Less:
 
 
 
 
 
 
 
 
 
 
 
Losses and loss adjustment expenses
626.8

 
3.6

 
630.4

 
628.3

 
3.9

 
632.2

Underwriting expenses
212.5

 
3.4

 
215.9

 
202.6

 
3.8

 
206.4

Underwriting gain (loss)
23.8

 
0.1

 
23.9

 
(30.6
)
 
0.1

 
(30.5
)
Investment income
 
 
 
 
34.2

 
 
 
 
 
31.5

Net realized investment gains (losses)
 
 
 
 
111.1

 
 
 
 
 
(58.7
)
Other income
 
 
 
 
2.3

 
 
 
 
 
2.3

Interest expense
 
 
 
 
(4.3
)
 
 
 
 
 
(4.3
)
Pre-tax income (loss)
 
 
 
 
$
167.2

 
 
 
 
 
$
(59.7
)
Net income (loss)
 
 
 
 
$
135.9

 
 
 
 
 
$
(42.6
)

    



















The following table presents the Company’s net premiums earned and direct premiums written by line of insurance business:
 
Three Months Ended March 31,
 
2019
 
2018
 
Property & Casualty
 
Other
 
Total
 
Property & Casualty
 
Other
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
(Amounts in millions)
Private passenger automobile
$
672.6

 
$

 
$
672.6

 
$
627.0

 
$

 
$
627.0

Homeowners
119.3

 

 
119.3

 
107.8

 

 
107.8

Commercial automobile
49.6

 

 
49.6

 
44.9

 

 
44.9

Other
21.6

 
7.1

 
28.7

 
20.6

 
7.8

 
28.4

Net premiums earned
$
863.1

 
$
7.1

 
$
870.2

 
$
800.3

 
$
7.8

 
$
808.1

 
 
 
 
 
 
 
 
 
 
 
 
Private passenger automobile
$
705.3

 
$

 
$
705.3

 
$
674.0

 
$

 
$
674.0

Homeowners
130.9

 

 
130.9

 
115.3

 

 
115.3

Commercial automobile
54.4

 

 
54.4

 
49.7

 

 
49.7

Other
24.7

 
6.8

 
31.5

 
23.6

 
6.4

 
30.0

Direct premiums written
$
915.3

 
$
6.8

 
$
922.1

 
$
862.6

 
$
6.4

 
$
869.0

XML 34 R21.htm IDEA: XBRL DOCUMENT v3.19.1
General (Policies)
3 Months Ended
Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidation and Basis of Presentation
The interim consolidated financial statements include the accounts of Mercury General Corporation and its subsidiaries (referred to herein collectively as the “Company”). For the list of the Company’s subsidiaries, see Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. These interim financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”), which differ in some respects from those filed in reports to insurance regulatory authorities. The financial data of the Company included herein are unaudited. In the opinion of management, all material adjustments of a normal recurring nature have been made to present fairly the Company’s financial position at March 31, 2019 and the results of operations and cash flows for the periods presented. All intercompany transactions and balances have been eliminated.

Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted from the accompanying interim consolidated financial statements and related notes. Readers are urged to review the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 for more complete descriptions and discussions. Operating results and cash flows for the three months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019.

Certain prior period amounts have been reclassified to conform to the current period presentation.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates require the Company to apply complex assumptions and judgments, and often the Company must make estimates about the effects of matters that are inherently uncertain and will likely change in subsequent periods. The most significant assumptions in the preparation of these consolidated financial statements relate to reserves for losses and loss adjustment expenses. Actual results could differ from those estimates. See Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018
Earnings per Share
Potentially dilutive securities representing approximately 55,000 shares of common stock were excluded from the computation of diluted earnings per common share for the three months ended March 31, 2018 because their effect would have been anti-dilutive.
Deferred Policy Acquisition Costs
Deferred policy acquisition costs consist of commissions paid to outside agents, premium taxes, salaries, and certain other underwriting costs that are incremental or directly related to the successful acquisition of new and renewal insurance contracts and are amortized over the life of the related policy in proportion to premiums earned. Deferred policy acquisition costs are limited to the amount that will remain after deducting from unearned premiums and anticipated investment income, the estimated losses and loss adjustment expenses, and the servicing costs that will be incurred as premiums are earned. The Company’s deferred policy acquisition costs are further limited by excluding those costs not directly related to the successful acquisition of insurance contracts. Deferred policy acquisition cost amortization was $148.4 million and $141.0 million for the three months ended March 31, 2019 and 2018, respectively. The Company does not defer advertising expenditures but expenses them as incurred. The Company recorded net advertising expense of approximately $13.6 million and $13.7 million for the three months ended March 31, 2019 and 2018, respectively.
Reinsurance
Liabilities for unearned premiums and unpaid losses are stated in the accompanying consolidated financial statements before deductions for ceded reinsurance. Unpaid losses and unearned premiums that are ceded to reinsurers are carried in reinsurance recoverables and other assets, respectively, in the Company's consolidated balance sheets. Earned premiums are stated net of deductions for ceded reinsurance.

The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2019. The Treaty provides $205 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $10 million Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake.

The Company recognized ceded premiums earned of approximately $15 million and $13 million for the three months ended March 31, 2019 and 2018, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $(58) million and $1 million for the three months ended March 31, 2019 and 2018, respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses for the three months ended March 31, 2019 resulted from re-estimation of the catastrophe loss reserves, including estimated subrogation that primarily benefited the Company's reinsurers, on the 2018 Camp and Woolsey Fires and the 2017 Southern California wildfires, which have been ceded to reinsurers under the Treaty. See Note 11. Loss and Loss Adjustment Expense Reserves for additional information.

The Company's insurance subsidiaries, as primary insurers, are required to pay losses to the extent reinsurers are unable to discharge their obligations under the reinsurance agreements.
Recently Issued Accounting Standards
In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software under Subtopic 350-40. This ASU also requires an entity to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement and present such expense in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The entity is also required to present the capitalized implementation costs in the statement of financial position in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented. ASU 2018-15 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company is in the process of evaluating the impact of ASU 2018-15 on its consolidated financial statements and related disclosures.

In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement." The amendments in this ASU require certain existing disclosure requirements in Topic 820 to be modified or removed, and certain new disclosure requirements to be added to the Topic. In addition, this ASU allows entities to exercise more discretion when considering fair value measurement disclosures. ASU 2018-13 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company is in the process of evaluating the impact of ASU 2018-13 on its consolidated financial statements and related disclosures.

In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment." ASU 2017-04 removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of Step 2 of the goodwill impairment test and requires an entity to recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. ASU 2017-04 will be effective for the Company beginning January 1, 2020 with early adoption permitted. The Company does not anticipate that ASU 2017-04 will have a material impact on its consolidated financial statements and related disclosures.

In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326)." The amendments in this ASU replace the "incurred loss" methodology for recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of information including past events, current conditions and reasonable and supportable forecasts that affect the collectibility of reported amounts of financial assets that are not accounted for at fair value through net income, such as loans, certain debt securities, trade receivables, net investment in leases, off-balance sheet credit exposures and reinsurance receivables. Under the current GAAP incurred loss methodology, recognition of the full amount of credit losses is generally delayed until the loss is probable of occurring. Current GAAP restricts the ability to record credit losses that are expected, but do not yet meet the probability threshold. Subsequently, the FASB has issued additional ASUs on Topic 326 that do not change the core principle of the guidance in ASU 2016-13 but clarify or address certain aspects of it. ASU 2016-13 and the additional ASUs on Topic 326 will be effective for the Company beginning January 1, 2020. While the Company is in the process of evaluating the impact of ASU 2016-13, it does not expect this ASU to have a material impact on its consolidated financial statements and related disclosures as most of its financial instruments with potential exposure to material credit losses are accounted for at fair value through net income.
XML 35 R22.htm IDEA: XBRL DOCUMENT v3.19.1
Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2019
Financial Instruments, Owned, at Fair Value [Abstract]  
Estimated Fair Values of Financial Instruments
The following table presents the fair values of financial instruments:
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
(Amounts in thousands)
Assets
 
 
 
Investments
$
4,061,224

 
$
3,768,091

Note receivable
5,588

 
5,557

Liabilities
 
 
 
Total return swap
$
2,312

 
$
4,851

Options sold
716

 
3

Unsecured notes
372,638

 
362,674

XML 36 R23.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Option (Tables)
3 Months Ended
Mar. 31, 2019
Fair Value Option [Abstract]  
Gains And Losses Due To Changes In Fair Value Of Investments
The following table presents gains (losses) due to changes in fair value of investments and the note receivable that are measured at fair value pursuant to the application of the fair value option:
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands)
Fixed maturity securities
$
49,775

 
$
(46,213
)
Equity securities
53,687

 
(11,886
)
Short-term investments
734

 
(392
)
    Total investments
$
104,196

 
$
(58,491
)
Note receivable
31

 
(41
)
       Total gains (losses)
$
104,227

 
$
(58,532
)
XML 37 R24.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Measurement (Tables)
3 Months Ended
Mar. 31, 2019
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]  
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques
The following tables present the carrying value and fair value of the Company’s financial instruments disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such instruments are categorized:
 
March 31, 2019
 
Carrying Value
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
 
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Liabilities
 
 
 
 
 
 
 
 
 
Notes payable:
 
 
 
 
 
 
 
 
 
Unsecured notes
$
371,834

 
$
372,638

 
$

 
$
372,638

 
$

 
December 31, 2018
 
Carrying Value
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
 
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Liabilities
 
 
 
 
 
 
 
 
 
Notes payable:
 
 
 
 
 
 
 
 
 
Unsecured notes
$
371,734

 
$
362,674

 
$

 
$
362,674

 
$

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values:

 
March 31, 2019
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Assets
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
U.S. government bonds
$
23,786

 
$

 
$

 
$
23,786

Municipal securities

 
2,695,108

 

 
2,695,108

Mortgage-backed securities

 
28,438

 

 
28,438

Corporate securities

 
118,024

 

 
118,024

Collateralized loan obligations

 
172,963

 

 
172,963

Other asset-backed securities

 
39,054

 

 
39,054

Total fixed maturity securities
23,786

 
3,053,587

 

 
3,077,373

Equity securities:
 
 
 
 
 
 
 
Common stock
513,908

 

 

 
513,908

Non-redeemable preferred stock

 
33,739

 

 
33,739

Private equity fund

 

 
1,213

 
1,213

Private equity fund measured at net asset value (1)
 
 
 
 
 
 
67,640

Total equity securities
513,908

 
33,739

 
1,213

 
616,500

Short-term investments:
 
 
 
 
 
 
 
Short-term bonds
32,801

 
19,869

 

 
52,670

Money market instruments
314,681

 

 

 
314,681

Total short-term investments
347,482

 
19,869

 

 
367,351

Other assets:
 
 
 
 
 
 
 
Note receivable

 
5,588

 

 
5,588

Total assets at fair value
$
885,176

 
$
3,112,783

 
$
1,213

 
$
4,066,812

Liabilities
 
 
 
 
 
 
 
Other liabilities:
 
 
 
 
 
 
 
Total return swap
$

 
$
2,312

 
$

 
$
2,312

Options sold
716

 

 

 
716

Total liabilities at fair value
$
716


$
2,312


$


$
3,028

 
December 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Assets
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
U.S. government bonds
$
25,003

 
$

 
$

 
$
25,003

Municipal securities

 
2,620,132

 

 
2,620,132

Mortgage-backed securities

 
30,952

 

 
30,952

Corporate securities

 
105,524

 

 
105,524

Collateralized loan obligations

 
165,789

 

 
165,789

Other asset-backed securities

 
37,761

 

 
37,761

Total fixed maturity securities
25,003

 
2,960,158

 

 
2,985,161

Equity securities:
 
 
 
 
 
 
 
Common stock
430,973

 

 

 
430,973

Non-redeemable preferred stock

 
31,433

 

 
31,433

Private equity fund

 

 
1,445

 
1,445

Private equity fund measured at net asset value (1)
 
 
 
 
 
 
65,780

Total equity securities
430,973

 
31,433

 
1,445

 
529,631

Short-term investments:
 
 
 
 
 
 
 
Short-term bonds
31,472

 
16,784

 

 
48,256

Money market instruments
205,043

 

 

 
205,043

Total short-term investments
236,515

 
16,784

 

 
253,299

Other assets:
 
 
 
 
 
 


Note receivable

 
5,557

 

 
5,557

Total assets at fair value
$
692,491


$
3,013,932


$
1,445


$
3,773,648

Liabilities
 
 
 
 
 
 
 
Other liabilities:
 
 
 
 
 
 
 
Total return swap
$

 
$
4,851

 
$

 
$
4,851

Options sold
3

 

 

 
3

Total liabilities at fair value
$
3

 
$
4,851

 
$

 
$
4,854


__________ 
(1) The fair value is measured using the NAV practical expedient; therefore, it is not categorized within the fair value hierarchy. The fair value amount is presented in this table to permit reconciliation of the fair value hierarchy to the amounts presented in the Company's consolidated balance sheets.
Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value
The following table presents a summary of changes in fair value of Level 3 financial assets and financial liabilities:
 
 
Private Equity Fund
 
 
Three Months Ended March 31,
 
 
2019
 
2018
 
 
 
 
 
 
 
(Amounts in thousands)
Beginning balance
 
$
1,445

 
$
1,481

     Realized gains (losses) included in earnings
 
111

 
(31
)
Settlements
 
(343
)
 

Ending balance
 
$
1,213

 
$
1,450

The amount of total gains (losses) for the period included in earnings attributable to assets still held at March 31
 
$
103

 
$
(31
)


XML 38 R25.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Tables)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Lease, Cost
The components of lease expense were as follows:
 
 
 
 
Three Months Ended March 31, 2019
Lease Cost
 
Classification
 
 
 
 
 
(Amounts in thousands)
Operating lease cost (1)
 
Other operating expenses
 
$
3,190

Variable lease cost (1)
 
Other operating expenses
 
739

Total lease cost
 
 
 
3,929

__________ 
(1) Includes short-term leases, which are immaterial.

Weighted-average lease term and discount rate were as follows:
 
 
March 31, 2019
Weighted-average remaining lease term (in years):
 
 
      Operating leases
 
3.9

 
 
 
Weighted-average discount rate:
 
 
      Operating leases
 
3.29
%

Supplemental cash flow and other information related to leases was as follows:
 
 
Three Months Ended March 31, 2019
 
 
 
 
(Amounts in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
 
 
      Operating cash flows from operating leases
 
$
3,316

 
 
 
ROU assets obtained in exchange for lease liabilities:
 
 
      Operating leases
 
1,892

Assets And Liabilities, Lease
Supplemental balance sheet information related to leases was as follows:
 
 
March 31, 2019
 
 
(Amounts in thousands)
Operating lease ROU assets
 
$
41,275

Operating lease liabilities
 
43,439

Lessee, Operating Lease, Liability, Maturity
Maturities of lease liabilities as of March 31, 2019 were as follows:
Year
 
Operating Leases
 
 
(Amounts in thousands)
Remainder of 2019
 
$
10,171

2020
 
12,455

2021
 
9,699

2022
 
7,573

2023
 
4,130

2024 and thereafter
 
2,446

          Total lease payments
 
46,474

Less: Imputed interest
 
3,035

          Total lease obligations
 
43,439

Schedule of Future Minimum Rental Payments for Operating Leases

Total rent expense recognized under the Company's various lease agreements was $3.6 million for the three months ended March 31, 2018. The following table presents future minimum commitments for operating leases as of December 31, 2018:
Year Ending December 31,
 
Operating Leases
 
 
(Amounts in thousands)
2019
 
$
12,812

2020
 
11,547

2021
 
8,732

2022
 
6,972

2023
 
3,659

Thereafter
 
1,966

XML 39 R26.htm IDEA: XBRL DOCUMENT v3.19.1
Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2019
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Summary Of Location And Amounts Of Derivative Fair Values In The Consolidated Balance Sheets
The following tables present the location and amounts of derivative fair values in the consolidated balance sheets and derivative gains or losses in the consolidated statements of operations:
 
Liability Derivatives
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
(Amount in thousands)
Options sold - Other liabilities
$
716

 
$
3

Total return swap - Other liabilities
2,312

 
4,851

Total derivatives
$
3,028

 
$
4,854

Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations
 
Gains (Losses) Recognized in Income
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands)
Total return swap - Net realized investment gains (losses)
$
1,766

 
$
602

Options sold - Net realized investment gains (losses)
873

 
2,922

Total
$
2,639

 
$
3,524

XML 40 R27.htm IDEA: XBRL DOCUMENT v3.19.1
Goodwill and Other Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule Of Components Of Other Intangible Assets
The following table presents the components of other intangible assets:
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Carrying
Amount
 
Useful Lives
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
 
(in years)
As of March 31, 2019:
 
 
 
 
 
 
 
Customer relationships
$
53,212

 
$
(48,998
)
 
$
4,214

 
11
Trade names
15,400

 
(6,577
)
 
8,823

 
24
Technology
4,300

 
(4,300
)
 

 
10
Insurance license
1,400

 

 
1,400

 
Indefinite
Total other intangible assets, net
$
74,312

 
$
(59,875
)
 
$
14,437

 
 
 
 
 
 
 
 
 
 
As of December 31, 2018:
 
 
 
 

 
 
Customer relationships
$
53,048

 
$
(47,897
)
 
$
5,151

 
11
Trade names
15,400

 
(6,417
)
 
8,983

 
24
Technology
4,300

 
(4,300
)
 

 
10
Insurance license
1,400

 

 
1,400

 
Indefinite
Total other intangible assets, net
$
74,148

 
$
(58,614
)
 
$
15,534

 
 
Schedule Of Estimated Future Amortization Expense Related To Intangible Assets
The following table presents the estimated future amortization expense related to other intangible assets as of March 31, 2019:
Year
 
Amortization Expense
 
 
(Amounts in thousands)
Remainder of 2019
 
$
3,802

2020
 
922

2021
 
902

2022
 
878

2023
 
714

Thereafter
 
5,819

Total
 
$
13,037

XML 41 R28.htm IDEA: XBRL DOCUMENT v3.19.1
Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2019
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table provides the assumptions used in the calculation of grant-date fair values of these stock options based on the Black-Scholes option pricing model:
Weighted-average grant-date fair value
$
8.09

Expected volatility
33.18
%
Risk-free interest rate
2.62
%
Expected dividend yield
5.40
%
Expected term in months
72

XML 42 R29.htm IDEA: XBRL DOCUMENT v3.19.1
Loss And Loss Adjustment Expense Reserves (Tables)
3 Months Ended
Mar. 31, 2019
Insurance Loss Reserves [Abstract]  
Activity In The Reserves For Losses And Loss Adjustment Expenses
The following table presents the activity in loss and loss adjustment expense reserves:
 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
 
(Amounts in thousands)
Gross reserves at January 1 
$
1,829,412

 
$
1,510,613

Less reinsurance recoverables on unpaid losses
(180,859
)
 
(64,001
)
Net reserves at January 1
1,648,553

 
1,446,612

Incurred losses and loss adjustment expenses related to:
 
 
 
Current year
629,054

 
589,582

Prior years
1,362

 
42,652

Total incurred losses and loss adjustment expenses
630,416

 
632,234

Loss and loss adjustment expense payments related to:
 
 
 
Current year
274,273

 
254,841

Prior years
344,718

 
345,826

Total payments
618,991

 
600,667

Net reserves at March 31
1,659,978

 
1,478,179

Reinsurance recoverables on unpaid losses
127,634

 
52,794

Gross reserves at March 31
$
1,787,612

 
$
1,530,973

XML 43 R30.htm IDEA: XBRL DOCUMENT v3.19.1
Notes Payable (Tables)
3 Months Ended
Mar. 31, 2019
Notes Payable [Abstract]  
Schedule of Long-term Debt Instruments
The following table presents information about the Company's notes payable:
 
 
Lender
 
Interest Rate
 
Maturity Date
 
March 31, 2019
 
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Amounts in thousands)
Senior unsecured notes(1)
 
Publicly traded
 
4.40%
 
March 15, 2027
 
$
375,000

 
$
375,000

Unsecured credit facility(2)
 
Bank of America and Wells Fargo Bank
 
LIBOR plus 112.5-162.5 basis points
 
March 29, 2022
 

 

    Total principal amount
 
 
 
 
 
 
 
375,000

 
375,000

Less unamortized discount and debt issuance costs(3)
 
 
 
 
 
 
 
3,166

 
3,266

Total debt
 
 
 
 
 
 
 
$
371,834

 
$
371,734

__________ 
(1) 
On March 8, 2017, the Company completed a public debt offering issuing $375 million of senior notes. The notes are unsecured, senior obligations of the Company with a 4.4% annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. These notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off amounts outstanding under the existing loan and credit facilities and for general corporate purposes. The Company incurred debt issuance costs of approximately $3.4 million, inclusive of underwriters' fees. The notes were issued at a slight discount of 99.847% of par, resulting in the effective annualized interest rate including debt issuance costs of approximately 4.45%.
(2) 
On March 29, 2017, the Company entered into an unsecured credit agreement that provides for revolving loans of up to $50 million and matures on March 29, 2022. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from LIBOR plus 112.5 basis points when the ratio is under 15% to LIBOR plus 162.5 basis points when the ratio is greater than or equal to 25%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 15% to 22.5 basis points when the ratio is greater than or equal to 25%. The debt to total capital ratio is expressed as a percentage of (a) consolidated debt to (b) consolidated shareholders' equity plus consolidated debt. The Company's debt to total capital ratio was 17.9% at March 31, 2019, resulting in a 15 basis point commitment fee on the $50 million undrawn portion of the credit facility. As of April 25, 2019, there have been no borrowings under this facility.
(3) 
The unamortized discount and debt issuance costs are associated with the publicly traded $375 million senior unsecured notes. These are amortized to interest expense over the life of the notes, and the unamortized balance is presented in the Company's consolidated balance sheets as a direct deduction from the carrying amount of the debt. The unamortized debt issuance cost of approximately $0.2 million associated with the $50 million five-year unsecured revolving credit facility maturing on March 29, 2022 is included in other assets in the Company's consolidated balance sheets and amortized to interest expense over the term of the credit facility.
XML 44 R31.htm IDEA: XBRL DOCUMENT v3.19.1
Segment Information (Tables)
3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Reconciliation of operating results by reportable segment
The following table presents the Company's operating results by reportable segment:
 
Three Months Ended March 31,
 
2019
 
2018
 
Property & Casualty
 
Other
 
Total
 
Property & Casualty
 
Other
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
(Amounts in millions)
Net premiums earned
$
863.1

 
$
7.1

 
$
870.2

 
$
800.3

 
$
7.8

 
$
808.1

Less:
 
 
 
 
 
 
 
 
 
 
 
Losses and loss adjustment expenses
626.8

 
3.6

 
630.4

 
628.3

 
3.9

 
632.2

Underwriting expenses
212.5

 
3.4

 
215.9

 
202.6

 
3.8

 
206.4

Underwriting gain (loss)
23.8

 
0.1

 
23.9

 
(30.6
)
 
0.1

 
(30.5
)
Investment income
 
 
 
 
34.2

 
 
 
 
 
31.5

Net realized investment gains (losses)
 
 
 
 
111.1

 
 
 
 
 
(58.7
)
Other income
 
 
 
 
2.3

 
 
 
 
 
2.3

Interest expense
 
 
 
 
(4.3
)
 
 
 
 
 
(4.3
)
Pre-tax income (loss)
 
 
 
 
$
167.2

 
 
 
 
 
$
(59.7
)
Net income (loss)
 
 
 
 
$
135.9

 
 
 
 
 
$
(42.6
)

    

Schedule direct premiums attributable to segment
The following table presents the Company’s net premiums earned and direct premiums written by line of insurance business:
 
Three Months Ended March 31,
 
2019
 
2018
 
Property & Casualty
 
Other
 
Total
 
Property & Casualty
 
Other
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
(Amounts in millions)
Private passenger automobile
$
672.6

 
$

 
$
672.6

 
$
627.0

 
$

 
$
627.0

Homeowners
119.3

 

 
119.3

 
107.8

 

 
107.8

Commercial automobile
49.6

 

 
49.6

 
44.9

 

 
44.9

Other
21.6

 
7.1

 
28.7

 
20.6

 
7.8

 
28.4

Net premiums earned
$
863.1

 
$
7.1

 
$
870.2

 
$
800.3

 
$
7.8

 
$
808.1

 
 
 
 
 
 
 
 
 
 
 
 
Private passenger automobile
$
705.3

 
$

 
$
705.3

 
$
674.0

 
$

 
$
674.0

Homeowners
130.9

 

 
130.9

 
115.3

 

 
115.3

Commercial automobile
54.4

 

 
54.4

 
49.7

 

 
49.7

Other
24.7

 
6.8

 
31.5

 
23.6

 
6.4

 
30.0

Direct premiums written
$
915.3

 
$
6.8

 
$
922.1

 
$
862.6

 
$
6.4

 
$
869.0

XML 45 R32.htm IDEA: XBRL DOCUMENT v3.19.1
General (Details) - USD ($)
3 Months Ended
Mar. 31, 2019
Sep. 30, 2018
Mar. 31, 2018
Sep. 30, 2017
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]          
Potentially dilutive securities (in shares) 0   55,000    
Common stock dividends (in dollars per share)   $ 0.6275   $ 0.6250  
Deferred policy acquisition cost amortization $ 148,413,000   $ 140,984,000    
Advertising expenses 13,600,000   13,700,000    
Reinsurance policy amount of coverage 205,000,000        
Reinsurance policy, amount retained 10,000,000        
Ceded premiums earned 15,000,000   13,000,000    
Policyholder benefits and claims incurred, ceded (58,000,000)   1,000,000    
Revenue from contract with customer 4,200,000   4,300,000    
Cost of goods and services sold 2,700,000   $ 2,800,000    
Contract with customer, asset 0       $ 0
Contract with customer, liability 0       0
Revenue, remaining performance obligation $ 0       $ 0
XML 46 R33.htm IDEA: XBRL DOCUMENT v3.19.1
Financial Instruments (Estimated Fair Values Of Financial Instruments) (Details) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Investments [Member]    
Assets    
Total assets, fair value $ 4,061,224 $ 3,768,091
Financing Receivable [Member]    
Assets    
Total assets, fair value 5,588 5,557
Fair Value, Measurements, Recurring [Member]    
Liabilities    
Liabilities, fair value 3,028 4,854
Fair Value, Measurements, Recurring [Member] | Call Option [Member]    
Liabilities    
Liabilities, fair value 716 3
Fair Value, Measurements, Recurring [Member] | Total Return Swap [Member]    
Liabilities    
Liabilities, fair value 2,312 4,851
Fair Value, Measurements, Recurring [Member] | Borrowings [Member] | Unsecured debt [Member]    
Liabilities    
Liabilities, fair value $ 372,638 $ 362,674
XML 47 R34.htm IDEA: XBRL DOCUMENT v3.19.1
Financial Instruments (Narrative) (Details)
$ in Millions
1 Months Ended
Aug. 31, 2017
USD ($)
a
Mar. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Number of acres | a 6    
Proceeds from sale of property, plant, and equipment $ 12.2    
Promissory note received in sale of property, plant, and equipment $ 5.7    
Stated interest rate on promissory note 3.50%    
Borrowings [Member] | Unsecured debt [Member] | Level 2 [Member]      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Unsecured notes   $ 375.0 $ 375.0
XML 48 R35.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Option (Gains And Losses Due To Changes In Fair Value Of Investments) (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]    
(Losses) gains due to changes in fair value of investments $ 104,227 $ (58,532)
Fixed maturity securities [Member]    
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]    
(Losses) gains due to changes in fair value of investments 49,775 (46,213)
Equity Securities [Member]    
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]    
(Losses) gains due to changes in fair value of investments 53,687 (11,886)
Short-term investments [Member]    
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]    
(Losses) gains due to changes in fair value of investments 734 (392)
Investments [Member]    
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]    
(Losses) gains due to changes in fair value of investments 104,196 (58,491)
Financing Receivable [Member]    
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]    
(Losses) gains due to changes in fair value of investments $ 31 $ (41)
XML 49 R36.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Measurement (Narrative) (Details)
3 Months Ended
Mar. 31, 2019
USD ($)
broker
Dec. 31, 2018
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Percentage of portfolio of unadjusted fair values obtained 98.30%  
Minimum [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Number of knowledgeable outside security brokers consulted to determine fair value | broker 1  
Borrowings [Member] | Unsecured debt [Member] | Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unsecured notes $ 375,000,000 $ 375,000,000
Commercial Mortgage Back Securities [Member] | Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading securities, fair value disclosure 22,400,000 24,800,000
Fair Value, Measurements, Nonrecurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, fair value disclosure 0  
Liabilities, fair value 0  
Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, fair value disclosure 4,066,812,000 3,773,648,000
Liabilities, fair value 3,028,000 4,854,000
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, fair value disclosure 3,112,783,000 3,013,932,000
Liabilities, fair value 2,312,000 4,851,000
Fair Value, Measurements, Recurring [Member] | Borrowings [Member] | Unsecured debt [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities, fair value 372,638,000 362,674,000
Fair Value, Measurements, Recurring [Member] | Borrowings [Member] | Unsecured debt [Member] | Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities, fair value 372,638,000 362,674,000
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, fair value disclosure $ 1,200,000 $ 1,400,000
XML 50 R37.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Measurement (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques) (Details) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: $ 3,077,373 $ 2,985,161
Equity securities: 616,500 529,631
Short-term investments: 367,351 253,299
Equity contracts [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability 716 3
Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 3,077,373 2,985,161
Equity securities: 616,500 529,631
Short-term investments: 367,351 253,299
Note receivable 5,588 5,557
Assets, fair value disclosure 4,066,812 3,773,648
Liabilities, fair value 3,028 4,854
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 23,786 25,003
Equity securities: 513,908 430,973
Short-term investments: 347,482 236,515
Note receivable 0 0
Assets, fair value disclosure 885,176 692,491
Liabilities, fair value 716 3
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 3,053,587 2,960,158
Equity securities: 33,739 31,433
Short-term investments: 19,869 16,784
Note receivable 5,588 5,557
Assets, fair value disclosure 3,112,783 3,013,932
Liabilities, fair value 2,312 4,851
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Equity securities: 1,213 1,445
Short-term investments: 0 0
Note receivable 0 0
Assets, fair value disclosure 1,213 1,445
Liabilities, fair value 0 0
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 23,786 25,003
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 23,786 25,003
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 2,695,108 2,620,132
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 2,695,108 2,620,132
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Mortgage Backed Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 28,438 30,952
Fair Value, Measurements, Recurring [Member] | Mortgage Backed Securities [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Mortgage Backed Securities [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 28,438 30,952
Fair Value, Measurements, Recurring [Member] | Mortgage Backed Securities [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 118,024 105,524
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 118,024 105,524
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 172,963 165,789
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 172,963 165,789
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 39,054 37,761
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 39,054 37,761
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed maturity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Common Stock [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 513,908 430,973
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 513,908 430,973
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 33,739 31,433
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 33,739 31,433
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 1,213 1,445
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 0 0
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 1,213 1,445
Fair Value, Measurements, Recurring [Member] | Private Equity Funds Net Asset Value [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities: 67,640 65,780
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term investments: 52,670 48,256
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term investments: 32,801 31,472
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term investments: 19,869 16,784
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term investments: 0 0
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term investments: 314,681 205,043
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term investments: 314,681 205,043
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term investments: 0 0
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term investments: 0 0
Fair Value, Measurements, Recurring [Member] | Total Return Swap [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability 2,312 4,851
Liabilities, fair value 2,312 4,851
Fair Value, Measurements, Recurring [Member] | Total Return Swap [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability 0 0
Fair Value, Measurements, Recurring [Member] | Total Return Swap [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability 2,312 4,851
Fair Value, Measurements, Recurring [Member] | Total Return Swap [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability 0 0
Fair Value, Measurements, Recurring [Member] | Equity contracts [Member] | Short-term Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability 716 3
Fair Value, Measurements, Recurring [Member] | Equity contracts [Member] | Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability 0 0
Fair Value, Measurements, Recurring [Member] | Equity contracts [Member] | Level 3 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability $ 0 $ 0
XML 51 R38.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Measurement (Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value) (Details) - Private Equity Funds [Member] - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance $ 1,445 $ 1,481
Realized gains (losses) included in earnings 111 (31)
Settlements (343) 0
Ending balance 1,213 1,450
The amount of total gains (losses) for the period included in earnings attributable to assets still held at March 31 $ 103 $ (31)
XML 52 R39.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Measurement Fair Value Measurement (Financial Instruments Disclosed, But Not Carried, At Fair Value) (Details) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Notes payable $ 371,834 $ 371,734
Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities, fair value 3,028 4,854
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities, fair value 716 3
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities, fair value 2,312 4,851
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities, fair value 0 0
Borrowings [Member] | Unsecured debt [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Notes payable 371,834 371,734
Borrowings [Member] | Unsecured debt [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities, fair value 372,638 362,674
Borrowings [Member] | Unsecured debt [Member] | Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities, fair value 0 0
Borrowings [Member] | Unsecured debt [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities, fair value 372,638 362,674
Borrowings [Member] | Unsecured debt [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities, fair value $ 0 $ 0
XML 53 R40.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Narrative) (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2019
Jan. 01, 2019
Dec. 31, 2018
Lessee, Lease, Description [Line Items]        
Operating lease right-of-use assets   $ 41,275   $ 0
Operating lease liabilities   $ 43,439   $ 0
Weighted-average remaining lease term (in years):   3 years 10 months 25 days    
Lessee, operating lease, not yet commenced, amount   $ 6,500    
Rent expense $ 3,600      
Accounting Standards Update 2016-02 [Member]        
Lessee, Lease, Description [Line Items]        
Operating lease right-of-use assets     $ 41,000  
Operating lease liabilities     43,000  
Deferred rent credit     $ 2,000  
Minimum [Member]        
Lessee, Lease, Description [Line Items]        
Weighted-average remaining lease term (in years):   1 year    
Lessee, operating lease, lease not yet commenced, term of contract   1 year    
Maximum [Member]        
Lessee, Lease, Description [Line Items]        
Weighted-average remaining lease term (in years):   7 years    
Lessee, operating lease, lease not yet commenced, term of contract   8 years    
XML 54 R41.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Lease Cost) (Details)
3 Months Ended
Mar. 31, 2019
USD ($)
Leases [Abstract]  
Operating lease cost $ 3,190
Variable lease cost 739
Total lease cost $ 3,929
XML 55 R42.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Supplemental Balance Sheet Information) (Details) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Leases [Abstract]    
Operating lease ROU assets $ 41,275 $ 0
Operating lease liabilities $ 43,439 $ 0
XML 56 R43.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Weighted Average Lease Term and Discount Rate) (Details)
Mar. 31, 2019
Leases [Abstract]  
Weighted-average remaining lease term (in years): 3 years 10 months 25 days
Weighted-average discount rate: 3.29%
XML 57 R44.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Supplemental Cash Flow Information) (Details)
3 Months Ended
Mar. 31, 2019
USD ($)
Leases [Abstract]  
Operating cash flows from operating leases $ 3,316
ROU assets obtained in exchange for lease liabilities: $ 1,892
XML 58 R45.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Maturities of Operating Lease Liabilities After ASU Adoption) (Details) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Leases [Abstract]    
Remainder of 2019 $ 10,171  
2020 12,455  
2021 9,699  
2022 7,573  
2023 4,130  
2024 and thereafter 2,446  
Total lease payments 46,474  
Less: Imputed interest 3,035  
Total lease obligations $ 43,439 $ 0
XML 59 R46.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Future Rent Expense Due Prior To ASU Adoption) (Details)
$ in Thousands
Dec. 31, 2018
USD ($)
Leases [Abstract]  
2019 $ 12,812
2020 11,547
2021 8,732
2022 6,972
2023 3,659
Thereafter $ 1,966
XML 60 R47.htm IDEA: XBRL DOCUMENT v3.19.1
Derivative Financial Instruments (Narrative) (Details) - FFL [Member] - Swap [Member] - USD ($)
$ in Millions
Feb. 13, 2014
Mar. 31, 2019
Dec. 31, 2018
Jul. 31, 2018
Jan. 31, 2018
Debt Instrument [Line Items]          
Swap agreement collateral   $ 31      
Notional amount   $ 106 $ 100    
Term of swap agreement 1 year        
LIBOR [Member]          
Debt Instrument [Line Items]          
Basis spread on variable rate 1.28%     1.05% 1.20%
XML 61 R48.htm IDEA: XBRL DOCUMENT v3.19.1
Derivative Financial Instruments (Summary Of Location And Amounts Of Derivative Fair Values In The Consolidated Balance Sheets) (Details) - Non-hedging derivatives [Member] - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Derivative [Line Items]    
Liability Derivatives $ 3,028 $ 4,854
Option contracts [Member] | Other liabilities [Member]    
Derivative [Line Items]    
Liability Derivatives 716 3
Total Return Swap [Member] | Other liabilities [Member]    
Derivative [Line Items]    
Liability Derivatives $ 2,312 $ 4,851
XML 62 R49.htm IDEA: XBRL DOCUMENT v3.19.1
Derivative Financial Instruments (Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations) (Details) - Derivatives Not Designated as Hedging Instrument [Member] - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Derivative [Line Items]    
Gain Recognized in Income (Loss) $ 2,639 $ 3,524
Total Return Swap [Member] | Net realized investment (losses) gains [Member]    
Derivative [Line Items]    
Gain Recognized in Income (Loss) 1,766 602
Equity contracts [Member] | Net realized investment (losses) gains [Member]    
Derivative [Line Items]    
Gain Recognized in Income (Loss) $ 873 $ 2,922
XML 63 R50.htm IDEA: XBRL DOCUMENT v3.19.1
Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]    
Change in Goodwill $ 0 $ 0
Goodwill, impairment 0 0
Intangible assets amortization expense $ 1,300,000 $ 1,400,000
XML 64 R51.htm IDEA: XBRL DOCUMENT v3.19.1
Goodwill and Other Intangible Assets (Schedule Of Components Of Other Intangible Assets) (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2019
Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 74,312 $ 74,148
Accumulated Amortization (59,875) (58,614)
Net Carrying Amount 14,437 15,534
Customer relationships [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 53,212 53,048
Accumulated Amortization (48,998) (47,897)
Net Carrying Amount $ 4,214 $ 5,151
Useful Lives (in years) 11 years 11 years
Trade names [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 15,400 $ 15,400
Accumulated Amortization (6,577) (6,417)
Net Carrying Amount $ 8,823 $ 8,983
Useful Lives (in years) 24 years 24 years
Technology [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 4,300 $ 4,300
Accumulated Amortization (4,300) (4,300)
Net Carrying Amount $ 0 $ 0
Useful Lives (in years) 10 years 10 years
Licensing Agreements [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 1,400 $ 1,400
Net Carrying Amount $ 1,400 $ 1,400
XML 65 R52.htm IDEA: XBRL DOCUMENT v3.19.1
Goodwill and Other Intangible Assets (Schedule Of Estimated Future Amortization Expense Related To Intangible Assets) (Details)
$ in Thousands
Mar. 31, 2019
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
Remainder of 2019 $ 3,802
2020 922
2021 902
2022 878
2023 714
Thereafter 5,819
Total $ 13,037
XML 66 R53.htm IDEA: XBRL DOCUMENT v3.19.1
Share-Based Compensation (Narrative) (Details)
$ in Millions
1 Months Ended 3 Months Ended
Feb. 28, 2019
shares
Feb. 28, 2018
executive
shares
Mar. 31, 2019
USD ($)
shares
Feb. 28, 2015
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of executives awarded stock options | executive   4    
Unrecognized compensation expense | $     $ 0.4  
Period for recognition for unrecognized compensation expense     2 years 10 months 9 days  
Performance period of restricted stock units (in years)     3 years  
Incentive Award Plan 2015 [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of shares authorized (in shares)       4,900,000
RSUs awarded (in shares)     0  
Incentive Award Plan 2015 [Member] | Common Stock [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of shares available for grant (in shares)     4,830,000  
Employee Stock Option [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Option vesting term (in years)     10 years  
Employee Stock Option [Member] | Incentive Award Plan 2015 [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of nonvested options (in shares)     70,000  
Grants in period (in shares)   80,000    
Nonvested options forfeited (in shares) 10,000      
Requisite service period   4 years    
XML 67 R54.htm IDEA: XBRL DOCUMENT v3.19.1
Share-Based Compensation (Stock Option Valuation Assumptions) (Details)
3 Months Ended
Mar. 31, 2019
$ / shares
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]  
Weighted-average grant-date fair value (in dollars per share) $ 8.09
Expected volatility 33.18%
Risk-free interest rate 2.62%
Expected dividend yield 5.40%
Expected term in months 72 months
XML 68 R55.htm IDEA: XBRL DOCUMENT v3.19.1
Income Taxes (Details)
$ in Thousands
3 Months Ended
Mar. 31, 2019
USD ($)
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]  
Increase in unrecognized tax benefit $ 71
XML 69 R56.htm IDEA: XBRL DOCUMENT v3.19.1
Loss And Loss Adjustment Expense Reserves (Activity In The Reserves For Losses And Loss Adjustment Expenses) (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
Dec. 31, 2017
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]        
Gross reserves at January 1 $ 1,829,412 $ 1,510,613    
Less reinsurance recoverables on unpaid losses (127,634) (52,794) $ (180,859) $ (64,001)
Net reserves at January 1 1,648,553 1,446,612    
Incurred losses and loss adjustment expenses related to:        
Current year 629,054 589,582    
Prior years 1,362 42,652    
Total incurred losses and loss adjustment expenses 630,416 632,234    
Loss and loss adjustment expense payments related to:        
Current year 274,273 254,841    
Prior years 344,718 345,826    
Total payments 618,991 600,667    
Net reserves at March 31 1,659,978 1,478,179    
Gross reserves at March 31 $ 1,787,612 $ 1,530,973    
XML 70 R57.htm IDEA: XBRL DOCUMENT v3.19.1
Loss And Loss Adjustment Expense Reserves (Narrative) (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Unusual or Infrequent Item, or Both [Line Items]    
Prior year claims and claims adjustment expense $ 1,362 $ 42,652
Adjustments for prior year claims 344,718 345,826
Catastrophe [Member]    
Unusual or Infrequent Item, or Both [Line Items]    
Loss from catastrophes 11,000  
Loss from catastrophes, net of reinsurance benefits 5,000 $ 9,000
Adjustments for prior year claims 6,000  
Fire [Member]    
Unusual or Infrequent Item, or Both [Line Items]    
Loss from catastrophes 208,000  
Loss from catastrophes, net of reinsurance benefits 40,000  
Benefit from sale of subrogation rights $ 10,000  
XML 71 R58.htm IDEA: XBRL DOCUMENT v3.19.1
Notes Payable (Schedule of Long-term Debt) (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Dec. 31, 2018
Mar. 08, 2017
Debt Instrument [Line Items]      
Interest rate     4.40%
Total principal amount $ 375,000 $ 375,000  
Less unamortized discount and debt issuance costs(3) 3,166 3,266  
Notes payable 371,834 371,734  
Unsecured debt [Member] | Borrowings [Member]      
Debt Instrument [Line Items]      
Notes payable $ 371,834 371,734  
Unsecured debt [Member] | Borrowings [Member] | Level 2 [Member] | Unsecured Notes One [Member]      
Debt Instrument [Line Items]      
Interest rate 4.40%    
Unsecured debt $ 375,000 375,000  
Unsecured debt [Member] | Borrowings [Member] | Level 2 [Member] | Unsecured Notes Two [Member]      
Debt Instrument [Line Items]      
Unsecured debt $ 0 $ 0  
LIBOR [Member] | Minimum [Member] | Unsecured debt [Member] | Borrowings [Member] | Level 2 [Member] | Unsecured Notes Two [Member]      
Debt Instrument [Line Items]      
Basis spread on variable rate 0.1125%    
LIBOR [Member] | Maximum [Member] | Unsecured debt [Member] | Borrowings [Member] | Level 2 [Member] | Unsecured Notes Two [Member]      
Debt Instrument [Line Items]      
Basis spread on variable rate 0.1625%    
XML 72 R59.htm IDEA: XBRL DOCUMENT v3.19.1
Notes Payable (Narrative) (Details)
$ in Thousands
3 Months Ended
Mar. 29, 2017
USD ($)
Mar. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Mar. 08, 2017
USD ($)
Debt Instrument [Line Items]        
Interest rate       4.40%
Debt issuance cost       $ 3,400
Debt instrument, discount percent       99.847%
Effective interest rate       4.45%
Debt to total capital ratio   0.179    
Unamortized debt issuance cost   $ 200    
Unsecured Notes Two [Member] | Revolving Credit Facility [Member]        
Debt Instrument [Line Items]        
Loan maximum borrowing capacity $ 50,000      
Revolving credit facility term 5 years      
Unsecured Notes Two [Member] | Revolving Credit Facility [Member] | Minimum [Member]        
Debt Instrument [Line Items]        
Debt to total capital ratio 0.15      
Commitment fee on undrawn portion of facility 0.125% 0.15%    
Unsecured Notes Two [Member] | Revolving Credit Facility [Member] | Maximum [Member]        
Debt Instrument [Line Items]        
Debt to total capital ratio 0.25      
Commitment fee on undrawn portion of facility 0.225%      
Unsecured Notes Two [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]        
Debt Instrument [Line Items]        
Basis spread on variable rate 1.125%      
Debt to total capital ratio 0.15      
Unsecured Notes Two [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Maximum [Member]        
Debt Instrument [Line Items]        
Basis spread on variable rate 1.625%      
Debt to total capital ratio 0.25      
Level 2 [Member] | Borrowings [Member] | Unsecured Notes One [Member] | Unsecured debt [Member]        
Debt Instrument [Line Items]        
Unsecured debt   $ 375,000 $ 375,000  
Interest rate   4.40%    
Level 2 [Member] | Borrowings [Member] | Unsecured Notes Two [Member] | Unsecured debt [Member]        
Debt Instrument [Line Items]        
Unsecured debt   $ 0 $ 0  
Level 2 [Member] | Borrowings [Member] | Unsecured Notes Two [Member] | Unsecured debt [Member] | LIBOR [Member] | Minimum [Member]        
Debt Instrument [Line Items]        
Basis spread on variable rate   0.1125%    
Level 2 [Member] | Borrowings [Member] | Unsecured Notes Two [Member] | Unsecured debt [Member] | LIBOR [Member] | Maximum [Member]        
Debt Instrument [Line Items]        
Basis spread on variable rate   0.1625%    
XML 73 R60.htm IDEA: XBRL DOCUMENT v3.19.1
Contingencies - Loss Contingencies (Details) - California DOI [Member] - USD ($)
$ in Millions
1 Months Ended
Feb. 09, 2015
Mar. 31, 2015
Nov. 17, 2016
Loss Contingencies [Line Items]      
Litigation, penalty assessed $ 27.6    
Payments for assessed penalty   $ 27.6  
Penalty interest assessed, statutory rate     7.00%
XML 74 R61.htm IDEA: XBRL DOCUMENT v3.19.1
Contingencies - Gain Contingencies (Details) - USD ($)
$ in Millions
Mar. 31, 2019
Jun. 30, 2017
Gain Contingencies [Line Items]    
Gain contingency $ 31.8  
Other liabilities [Member]    
Gain Contingencies [Line Items]    
Gain contingency   $ 30.9
XML 75 R62.htm IDEA: XBRL DOCUMENT v3.19.1
Segment Information - Summary of Operating Results by Segment (Details)
$ in Thousands
3 Months Ended
Mar. 31, 2019
USD ($)
segment
Subsidiary
State
Mar. 31, 2018
USD ($)
Segment Reporting [Abstract]    
Number of insurance companies | Subsidiary 14  
Number of states in which company operates | State 11  
Number of reportable segments | segment 1  
Segment Reporting Information [Line Items]    
Net premiums earned $ 870,245 $ 808,084
Losses and loss adjustment expenses 630,416 632,234
Underwriting expenses 215,900 206,400
Underwriting gain (loss) 23,900 (30,500)
Net investment income 34,174 31,510
Net realized investment gains (losses) 111,074 (58,735)
Other 2,250 2,325
Interest expense (4,256) (4,266)
Pre-tax income (loss) 167,169 (59,699)
Net income (loss) 135,867 (42,607)
Property and Casualty Lines [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 863,100 800,300
Losses and loss adjustment expenses 626,800 628,300
Underwriting expenses 212,500 202,600
Underwriting gain (loss) 23,800 (30,600)
Other Segments [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 7,100 7,800
Losses and loss adjustment expenses 3,600 3,900
Underwriting expenses 3,400 3,800
Underwriting gain (loss) $ 100 $ 100
XML 76 R63.htm IDEA: XBRL DOCUMENT v3.19.1
Segment Information - Summary of Premiums Written and Earned by Segment (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Segment Reporting Information [Line Items]    
Net premiums earned $ 870,245 $ 808,084
Direct Premiums Written 922,100 869,000
Private Passenger Automobile Line [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 672,600 627,000
Direct Premiums Written 705,300 674,000
Homeowners Line [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 119,300 107,800
Direct Premiums Written 130,900 115,300
Commercial Automobile Line [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 49,600 44,900
Direct Premiums Written 54,400 49,700
Other [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 28,700 28,400
Direct Premiums Written 31,500 30,000
Property and Casualty Lines [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 863,100 800,300
Direct Premiums Written 915,300 862,600
Property and Casualty Lines [Member] | Private Passenger Automobile Line [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 672,600 627,000
Direct Premiums Written 705,300 674,000
Property and Casualty Lines [Member] | Homeowners Line [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 119,300 107,800
Direct Premiums Written 130,900 115,300
Property and Casualty Lines [Member] | Commercial Automobile Line [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 49,600 44,900
Direct Premiums Written 54,400 49,700
Property and Casualty Lines [Member] | Other [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 21,600 20,600
Direct Premiums Written 24,700 23,600
Other Segments [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 7,100 7,800
Direct Premiums Written 6,800 6,400
Other Segments [Member] | Private Passenger Automobile Line [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 0 0
Direct Premiums Written 0 0
Other Segments [Member] | Homeowners Line [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 0 0
Direct Premiums Written 0 0
Other Segments [Member] | Commercial Automobile Line [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 0 0
Direct Premiums Written 0 0
Other Segments [Member] | Other [Member]    
Segment Reporting Information [Line Items]    
Net premiums earned 7,100 7,800
Direct Premiums Written $ 6,800 $ 6,400
EXCEL 77 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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

M2284'Y-%$%I6\6>H^-11?(H)I.$5Q4(D'F<+^..NJF+^*.B+UOSUHBOAH1A3"C#EKHT&YH]&$^J*J:$V-:"N""W' MHY%BM"CJ:U9=DTE<8 (I() ['L(,H\4F-#>&J6& &C+:^:R8W=Q8+(;=K=NV M_E]W.21,(0,-;KRO7$&1XX'!'-M71*%C#\0PA6Q"%V08+P;PLB= 6(6U:O^1 MY'(@&%(&6IMPN<"0LGA".3!_S.;/XGP%1((ZNC##]#% GW"XX)@^/H$^CNGC M-GUVMD DZ'BI!X/7V.;+Q?>TVF5E[3TK;=Z(V_?6K5):&H?AC5DJ>YENSA>Y MW.KF-#;G5??%H+O0ZM!_#0G.GV26_P!02P,$% @ :&V>3JFM;R/2 0 MT 0 !D !X;"]W;W)K&ULE51M;YLP$/XKR#\@ M)KPD;01(;:)IDS8IZK3NLP-'0+4QLYW0_?O9QD$!>=/Z!?N.Y^7N,,X&+MYD M Z""=T8[F:-&J7Z'L2P;8$2N> ^=?E-SP8C2H3ACV0L@E24QBJ,PW&!&V@X5 MFG*&[Z!^]$>A(SRI M5"V#3K:\"P34.7I:[PZIP5O :PN#O-L'II,3YV\F^%+E*#0% 852&06BEROL M@5(CI,OXY3319&F(]_N;^B?;N^[E1"3L.?W95JK)T0,**JC)A:H7/GP&UT^* M M?\5[@"U7!3B?8H.97V&907J3AS*KH41M['M>WL.CC]&\U/B!PAF@CKY)^$ MV!'B_R4DCI L"'ALQ<[F0!0I,L&'0(Q?MR?F$*UWB9Y^:9)VV/:='H_4V6N1 MIE&&KT;(89Y'3#3#Q'/,WH=)YIB##Y-.&*SKG(J-O,5&5B">"6S\ K%7(+8" MR4Q@N^AVQ#Q:3&=QBKI@=.U$:, M,)B53DA.M GE$:M1 FD=B3,55K*85!4#(&$KD3WT:[.+=X!GBA, MZF(>6"<'(9YM\*4M46@; @:-M@K$#&>H@3$K9-KXM6BBM:0E7LY?U3\Y[\;+ M@2BH!?M)6]V7Z X%+73DQ/2CF#[#XB=#P6+^*YR!&;CMQ-1H!%/N&S0GI05? M5$PKG+S,(QW<.,TK^7:A^0GQ0HA70I3^DY LA.2&@.?.G-6/1).JD&(*Y/RS M1F+/1+1+S&8V-NGVSJT9M\IDSU661P4^6Z$%\S!CX@M,?(VHWR*R_"\&FP[6 M-F)O&[$32*X$$K] XA5(G$!Z)9#>^)@Q6X<9'":)-G?^*JFW2NJIDOD%,J] M]GZ?N5<@_[_/.G_K,]QL;ZK@BQ-B;^PW(H]T4,%!:'/8W)'HA-!@!,.-:;LW MC\0:,.BTG7XP ;P^1=4?4$L#!!0 ( &AMGD[U5>>[K@, M 'T0 9 >&PO=V]R:W-H965T?@Z\;D\GDP_ M$6U6Y^*HOBCSW_FIM:-H]K(O:]5TI6Z"5AW6X0._WT+>&PR(KZ6Z=HO[H%_* ML];?^\&'_3ID/2-5J9WI713V\J*VJJIZ3Y;'C\EI.,?L#9?WK][?#8NWBWDN M.K75U;=R;T[K, N#O3H4E\I\UM?W:EJ0#(-I]1_5BZHLO&=B8^QTU0W?P>[2 M&5U/7BR5NO@Y7LMFN%XG_Z]FM %,!C ;Q.*/!F(R$+,!C(L?F0U+?5N88K-J M]35HQZ=U+OJBX/?")G/73PZY&WZSJ^WL[,M&)LDJ>ND=39C'$0,+#)\1D?4^ MAP JQ",@' 0WS#(G42,&#E@FC%( M3,>09 R)8Z3,B2%Q#$^V$S)&0L3@3HP$QZ!#I&2(%.5:IIY<9Z2##'%,,X?B M"$D6%+.402R=NB%@S'X\3R4GV>2(328<-CE*6")8S)V-LJ5@ ,+#AC-Z1S+B M";J$)M R%'"9,Z>:MA2.)?$"=TO)(Q*W3IAE)!%SE_>6@G')?7QH^>$"%Y&[LR?,[=;F#!/"N#N9I4)Z&-%ZQK&@ MB=1EA 4-0*(G1J $^-C0RL4IHI2C&DHQ(R$S=)X2N#Y'+/4PHG6:8Z&6J<\% M+:X\__O# FA!!"R(Z+@ K'-9(CA2'PK'F/"I#]!Z"%@/T9$!6.<22#+,B,)E M?D:T'@+60WQH %8ZX" Q)0+';/'X*-&2"%@2\:$!6.M $$DB)%$P/R-:$H%X MQTL];YE ZQC(?RAG6GD *P\N9RPH*5',!"KSYH06'<"B@TL9BXE(,!L"E7O9 MT((#E. @.AEQKF,Z!,J?'%J\ +\:$B6+V;F'?H"^Z7/F'VUO/3:#_[L9&_-/17LLFRYXUL:VE$/C=]#:*,N1 MO;&Y.JEB/P\J=3#];6KOV[$A'@=&GZ=F/YK_<=C\!E!+ P04 " !H;9Y. M[_"/N+L$ #I&P &0 'AL+W=OM:^='EN;5VCW5]>7)\ZK=26=)]:FXZ+SYRZ$HLZ1N M;LNC5UU*G>R[05GJ<=\/O"PYY^YFU3U[+3>KXEJGYUR_EDYUS;*D_.]%I\5M M[3+WX\&7\_%4MP^\S>J2'/7?NO[G\EHV=]X]ROZZC1M(S4\O@]!W?N< M[<#Q]4?TSUWR33)O2:6W1?KO>5^?UF[D.GM]2*YI_:6X_:Z'A)3K#-G_J=]U MVL!;)LTD_5*P)]$LYJY]V*U=][280/2P"#TDZ"!Y!XE"GTOUD J ^,"HXRB3A#(L$ MB^W+Q'%?<]K7I$P#9IPNCT*R*A F3:O"L4AP9E&F 32>23!%"0&8;Q0^CB6' M4\E186@(@36"+[ .'/ V9H);N@F F[,3 M LN.0';"9,>Q4H@%=D+@WA86=D)8V@F$F[$3PO!/AHV=$)9V N%F[(3 TB.0 MG3 (H,!:(1;8"8%[6UC8"6%G)Q#,;"<$%@IA8R>$G9T L!D[(;#L"&0G(D,( MK!-B@9V0N*^EA9V0P"15";$%(S@5!&T9-8'J2-E9#4(@01I0-01@LJL=1(9"-B M0PBL#G*!C9"XGZ6%C9#4'I %F8-,>6!1D#;F05)30(C,0:;OJ["T*& 98E,( MK 9J@650N'^5A650U J05V9SD"D/+ +*QB@H:@ (D3G(E B6$@7L06QXU99V -%]WVR&G.0*0_<^,K&%BBZWQ,BSZN>>7O \O#\A3UM^U.GGV'Z0["_DO)XSBOGK:CK(NL.60Y% M4>N&I/^I6:V33O;WFU0?ZO8R;*[+_O"IOZF+RW"PYMU/]S;_ U!+ P04 M" !H;9Y.%%QI6UI[ #W ( % 'AL+W-H87)E9%-T&UL[+UI M;QM)EBCZ^;Y?D=!SW9* %)O[XIII0);M&O=X&\O5C<'@X2%%)J5LDTQV)BE9 M%_/C[UDC3N1"4;:KIP>8!KHLDIFQG#AQ]N6?RG(7[3?9W_;I9;[?[/[Y9#0; MG$1?UZM-^<\GM[O=]OD?_E#.;]-U4G;R;;J!7Y9YL4YV\+&X^4.Y+=)D4=ZF MZ6Z]^D._VQW_89UDFY,__E.9_?&?=G]\F<_WZW2SBRXVB^C59I?M'J(W&QXA MRS?1>53>)D5:_M,?=G_\IS_@._S>('J7;W:W);RS2!?57]\E12<:].*HW^W- MJC]>;.''_JCYQ\?6\Q\7U^6N2.:[_Z_US<\/V[3Z8Z][_F^U=<#3"WKC]2JY MJ?ZZ3%9E;1@WQ\>TR')QJS^G^_Y__];\.;O)U5LZ35?3O:5)$K^'+ M&IB/>5O6TOC^O_6JWPA,/Z4W&0(2AGF?K.L;>/7I\K=/_Q[]^NK]JT\7;Z/+ M#Y\^MHQT"4LI8!EO !&^1O^:/E2?Z^+_QL/9;%S]Y7)?%%4PM('T_+S7/Q^T M;>=UMDJ+Z!+>N\F+V@K>)L5-&EW,YRD\!<\L^/FV#>7K-6#:U2Z??XFC*T+_ MZ,-^5^Z2S2+;U#!%7GNU3HL;^#GZMK$OLTU: MUH[M,M^4^2I;T%I?)*MD,T]A)7")2[B1OUV]C$Z?G47/HFP3?;[-]R4LK#;& MRW3N[N"TAOM75Z\^7U6_?9U]A?G@INT+7&.9SO&/#+9_FJSS8I?]'_AYG@-% M>C:(N[U>/)O,?HF>]>/9>!:/AKVSVF;_MJ\.Q*^/)I.X/Q[ RZ/A,.Y.^[57 MKVYAPO-=6JQAEW=IN4.4=^\/QI-X.IC@Y*-A/.I-:^]_SG> 4N;5&HR3\K;Z MW:=TGF9WR?4J+9]7?_M8I.MLOZY!X+-.RA)Q MZG23[J)\"6\!:=FO".T6*;".><9D%P .Q]0; < 'HQD+^ZSU:H1YO FW-R;#, F MZX@CV&_SL\T+Y6-J_NUMEEQG*\+NVD]Y649P-Z,5_;'XZUXP)/T*G!IAE)9I M<5=_\;<-D,(-GB8C7>V!]_D.+M,V>4!D:$!)%!7<[[2$1/!4IJZ-6#V^5?NV M&%(''F!P'7@ 26PF-QH7-P=9 J9.-_/ZPRCK/"^WR3S]YY.M .SDCU&=7@"= MOLU7B[0H__?_.^WW@#BD1'YJ-UD(?(D$/KK/=D!!=P"K(KI+5OLTR@OXB:X M?7X>7>SAD8*(WZ0; S,3F>B7*"M+A"EN(?<,(AJ-XL&H^PO].^S6K_0.)# \ M"CAC>+P%?&7KAAX%-RWH^/T=MTEP&+/CN:^UPA! G7@:R\SC8P M9H:R2BXTJ5V.NP@Y#3R[M&P)MPQ\.OFMPSR$-R%O+2"@2/&"P3A=E4"]^!!6M,E(3A#ZE=^EFW\#NWP-' M5.H;,35N>N11MH\/@0JV(MB;IV^ !L#U0L[0 !:5"WAQ-;%*:'AMT6]IM$,L MIS;6QR/E!2;ZN>,2;>.]V<"=@4TV[ZC]+6+N!(ZSZ#H%A2\]R/'?N-\<,SV] M3C?I,MO5@,GG9"9X] %_O6H@?I&4V?S(J_@R6^UW?_HO*4I,2$Y0R .% MI7Z3#JRFY7[9)3SQ"@+AMDSUYTBD>4_:CV4&=/:'B&#T'^_2]75:U)B!XY6O MA%>V/ADNE>E^#)@$*AF^&%T+7TMVD=6,)G4Q/Y^GZ:*,ED6^%ADAWS(92K^F MQ3PKZY2 )C^_!KD)N=8:\9'E9L'-^JG<98L4( 74/5M$NSS@UL=M+67::O9U MD-!](WR.'.?P8FHFC -4']6RZ/4JOP?B^-LFV2\R>.9XN>/RXNI?HM=O/_SE M*GK]Z<.[Z,/'5Y\N/K]Y_VMT)1H)H%T@K(S1M/ M%^![_#3'U6V+'(]O$5T_&(((L@R<*LHGM5OZTJI2)(RSC-,H'+0QC%/B&&<1 MEB0W [ <6S+ZY4-Q@'W>'&DBGEY"UH4\]ZY*&ZXE\4Q"II=WN*IJNJI MKO8,YW#CK+Y5N[*+V3^F:=F'DV]1K-IH0R.#;=1,WQ^+>,?;9X!'OJ3/4[:=X! WK@THG_KB>U+NA@RZ.'3JI*NUV_>7[R_/$RZ:A,M6=4Z M.!&^9#<_;["$(1FN2QN.6\#^ 5VC![@\=0/G G_>DE6ZAC&_??SX]M6[5^\_ MHU%9-QR]?'-U^?;#U6^?7K6)D\0HVX7 %(G=8M_;Q "U?[14H'X2@3#/D.A)1]\1#YV8MM7OBY,WBLW%^7V2)+"K+)%DJ1 M@/!3"H A$P-L81WUNN?_2O1'41O%&A@9V _)G$XF MBCIX5*4_K,;SN04Y'@2LE!@R:/%\0>%S],M M*0%^_]L"CCK;KO"HY Q^O;CXJ <01_>WV?PV6F3+)5D[HQ)O!2#6%DY0!%E0 M_V&]2Y!J%LSS<><$1,O\;]!XD<-AB+T J0?MU>P0H)U43EE1<:'8 YL%SBK" M6R=ZPZ>0;[.-7*1UL@$-!^$41^@( 5X!@$0;JY'%T" =;=#U1R9RD#D0&LP4 M#'37R8+DLRU?I6B99 5 LNG<_2ZV:HAB417 I[(JW1%\&8;;KW@9N3=%D+D2 M*>Z29%1%%R9WI2X"=WVQ6C&"S 5*Z&XKD2SK."(N6U1)5]D:%DD#7*8%:C]F MU9GQA.YN8>E 1!A *W,(> ",X(UX:;$1L:Q8T.D3-B)>@5:PWYGA41P%AHUO MX&X5YQF%"#_W0&!*O-? ''D;.2 X$2[&/290! 6VOAU+XYB9LT5M@]>^ YO^[W'5\:(WF"-S *@6BM4C+>9%M_3DNLG*^+TO\W(F\ M(5T1J 5E=K<%D,$UN]%Y]BHFPJP(_PTLJBR!=M(I+X! (F'62ZC3T(FMDP :KD#D 2+-7+71JPTV@-I+H&[NM\SYM."<8EDWN@!H7"GDQ[R"DV M.YA]#\2'<0\G02\>0/ +BAUSDO.)H8'T #OPJ"5<:8VV^M)(#78+POLK&+8C MR#Q.>9CJ,&UA-9+NTNIQ"RM0_OEN3SR++R8P\M5"V;/AQ@YH( 3]MQ>(G($. M#9RD\^()P7_O4Z)BP'$!?789L:H%6B61A!G]C>XU;#0[=[\R!CV!8'8 -(=G M*5(A2J0B;4&C_DIG (^/1L:WQ]?;^@EQ&^E78;&.K^'=V7L%82'FUM1"0\$2YX@!P#SHOCCH\=,F!1$&>##G*1W,K$@LJ@/ M$HXF*?W611E0&L"B*U$LLI#AK>A$QL!IT<&]M4 ^4HCKE&R@":R%W_$F]2UI.\()@HORHY%)":E!M:H6H^X0"Z,'0J=@&7T:% %T1'1 M>O"4,Q8"G%473?>PIRBY83(J1B;66&.TUFSZ?%>X*: %D6+K7GM^#8H05X<0^8]ST;VD,TKYT2K MO*:SVM-VD]*L!VF)P.-S SE^U$1*(RSWA41B,*RN'^26\N7(B<_APRA#/AU) M&I#B\=,+3-M$.)[UAM/.,%H#/-0" 5_U.EWWU1,$XK:['-"6/)4MXUKAZ !M M=[!&=5J"4DH"'&HY3IJ"^==X1'I]06=[:A828(B89NO@+[#1$F16Y (0ET$:D@4-(>%Y'$32NW#^D>3CU/<1/& MJ0"2?S@OK:2Z/D?<^'V2NV@(U?7F">C_:KUH]EBPF&KBN$*0Q17IY^2-P:K)N4.:"4\88_R :H"W*0@L5ALK*O2J>HL(B W!ZS*]S>WT9\ SM&@ZZ0C7(V,+[X$ MN)_][LBA)?$Q<3\CWA(OSN>LU\'BKLENR527'D2GAMF('#&0H31EXOBLYR^Z MOTXDI,$W1+J"=>%QD$M4H!;8 ?Y/0@U)1M"B)S0_#H* M,9DE:9[+? 4Z/9W-QLQ7IQX@QU-($V%(A2"'7Q:YR30=4+"+_,88%K<%_$(&)XFJD>OL M2:1SNY!@FCF[*8H!R:5?D0I6V=Q^0UY,> :-3;>4N< :8'Z] MRF[$"NUW;WEA<@.80RB)T@$9C1A%+IU43UKV)0 #J!S,>/HYWV;S:-P=GU4V M6]CWY^'[<_=^5AJ]1R, A':(CIP5BW-F>VZ?(*CB=>IUNS]%2&H7D=T#1P&[ MZTJ2/\.P0BZ&G7Y(+88=3R9C7JI*NY;J/.L;08Q>['>FYL4?()NA[5]O8A4^ ML4H/U;7%"$Y+FEB4<>:_P]++8;+L1I,SDL5]5#Z(SUPFY3Y9P0?'5,OT1I2D MRLSZ@[<\GGJ?WA#O(O]N4K?. "KLGZS#L&Y0B@,CPVV"YG^'AM;:ZKX+#+7X MRR87+5$,H[021#%[D6"D'"-ST@7CRWYCN+5"OM.4)T+&RS<<'&MLD6]RM'UZ1X>):P@>=-Z_=D_S,0M"-]S%_@9MM@ABAK W$C:^ M\B*'?T 6?7UQ]0(DT>S Z+]MRG)Q]1L\BE.<]T9Q= +S:OX%1O)JK@9M MF:-*SR-R\P/Y/4 M=$<1L*R;32G$EP@\'R%I ,DVVV'L%KFYPA6Q+IX%*P(EG2V19B4JSB=B6/#Z M-Z/H]TZ,K 40>Y5OT7B47Y/1*=,#0(MCJ0? ;*9R"L@687D(DF15YMX-@R(P M9[?!%*H9LS BB\-M-ZV-/+U/A(6S1E'4CM"SIC'(Q"B^81+R=6E"U\0:2(M^DR75UV6.-,>4#IH.,LV<#4M MT3@8[;Z XFU('?93D+\G=1+E1SYL]D_)9H^"'_&M?I=A M" (0AG(L.&X8>0^[PVOF .>BRM$&A\M/,=6#WK(H^YSX[OL M-+,"H/&.PKO9!DC!7R<@?_Z9DE#>I0F.P?C-TN.TCY3YI1L_>EW J=WGQ1>@ M[,K41.@U3WVJTK"663HG!+9$T[4%;$*"U+.IUO/T:\8G[O<;4DN,'M9EXZJN M4<1;L$<[1VEK#91E$9KDT5[>-AX/ 1J$MZG2^ 1D52QBO^!D19>4KE/&@-&X M)8T(5@.S ZR^0AH&%%IW\1EC$1&&[D60.^!0F$Z>V,D$E6J2 L=-K#$& M1P&S0N0S9PM NM'QZ1@(1D##:!WB#$G8G$A^XEVZC?I*_MRKF5L:,,ER)S!L MXM9.Z,6OS6NB@"K2R,R@O[%RQ@0_7!;Q4<7LKK86,HPD/F9.;]8/N4IH,8;9QJWW:*P\P0W] M9@-:R9['!H(/0@$<@*2BZ67JC\_P>APDY-M5,N*$5329G "MV]WFBWR5 MWSP0\!5=R4_!\XEMA:,(@A<(B$6Z7%$TBHN,"M\+KH927&=12Z+K(L>P,V][ MMZ%XWJ*V30"54&M$WX-&0\%PS 5TFJ3,-RY6O=QO$7,U^#T%06Y7CU+2>%Q2 M<1_8>E"/%/+'+1JR\ZH08K'")%%ARK>T@F7CCPB[H;R F0Z";YBW"M2'X3LN,P^X\!1 M-%=XTD!+QN .5&O8M%J@0.""O"0J&:_0KA.\J2;B@VO\#FKS),9-!%7+F[Q>&1LJ * 2S2 M)Q*(FE6LD2,<]5 -\+".>_EH _X?%U.A4D"BBGP MV!"AV-EE#<'3%%$8&;:QD_3MW;[81.5]LHUKN6.Q^,&)D&ITL_[8B5[N4]$F MLL)F)_FDJCB4ONB4V/1;79VFJ55RU[PQ7:;QIUUJ]+HOO&-=\"%F/ Y622%P MOE)F=J)]BTW%SQTR,G.2SZNFX[K9^/1"F"$M2G)$SZ(+YH9OS'Z>1<.X.^[% M_?X0_A[$D_$T[LYZ;,+VP(M&\6@ZQ?^.)D&4Q>?J$<,H_7C0Z]/(TU$O^F!0 M(IKTQM$ F%=XW(-)/QX/IM%@#/].AL$"K6R(<;I96H64$9,QAV(99OM1L' ] MT8XJ@S265I)8Y5VV)BT@765<,X>M8DAIBG)GG-E\JG.E168DVG%6>@E\P<$$ M-,*Y1/KR!PP69FZMLA&;CK@\@OI+A3Y5O=6/UU6(LNB;G":1<2<..Y8F\:D> M]!I*NHMDKL"U*\K4@RC,S0O]'&E&=Q?'HA1*-$ZAEVU#(L.*UW:;;87 WP&7 M)23--$O.615.3_[\YE5Y@DZ7"/XBLYU7^)#/RUPD&]#"<@W0!C'\B[>GE*4P M$=0%8>' /& 3XP@A;WSR"DQO/Q^8^#GZO<8'LH"=9@M2WM5Z(2*EZB8 M*&?7^;TOBARZI\%#Q*.O& 1/@II/1%*3()NY79!P_O M%@\UP\L"7;X+(W$\,B?9E(#O4ZY.+A9?(YIRH*#$@SDPTU%8JB%_ M-DR M1I:#9&CS <0@!R]T,.>2"5%(#_P)QV@H0*E.#Q8-%@>.(KR[AJZ4;I5-@2-- MTEYXJHR.% F%)G%.K[)$[BZ]S>8K-AXNDWE&Z,K7PSQEC@^^S5=W9!:%^WLG M)A C).D]K4DNOQ!]QT1GAK)J\PD6;^D MNCI=H!)FS7BZ0H4#LX8IE!+N8K8)RBB&^R9/$/]8^@CC;//M^%(5.3?YYOS; M< /5LF-HZ,_H$0,Y>+\.U"15\RN!Z'P_0JG;>2FM?%(7O9X6?'IQ)'8T!DK8 MXEM'8.(]\IWK(&56$PDQ#I-9*,'2'J?)PO!#:^H?$J:]$/RME$W0S(/@C.49 M&Y]3G:G#XZI#:" MKTAW9D)Y?E0T54C_TA7; MDETJ9:N"YI9EM2P@5'B\S8I5Z ZJV"":(\7$Z/L40D-A=F(3F_OXH\.3/TT7 M\UF3WPIRU:2O4*^T\,?\*(W.IDAT#+MS>;YLL,*J%(+'^-@YK."T0DDS8X(BI4 CU5A'STJ3WDI^ M(HQ5]1Q'S=SAD1@O&2X4!.!.]#&L^Z0AF)I$EML$:*"W&07XN)IF=*H[C*6M M;X%H4*"9T\B6D,O5HW%9N,=3A2M*6J(_&$I4T#GC ("HHUHW^C8HQ6:I.?Y- ML4DKXL*NO"<&SW"J DDA*A/@,VTZFMM70CM3; WN.87X$CX41'8]2C"UPS%! MQOB"UR KO\@SP'B3NYPR4TPJLX@D7C5RBS<;PN_E6&6J3BW%IQ'IJS>3Z8+- M2'^:%,)6KD^L#ERAE:M.FCS;LM8PYW CK'"!YB:1+X[V6\0:.J(P>%UBO&(? MJN-1&NM#I:S=,E_"8-K"I5Q2D0W*^S+WC$Q.$5Y!J@SBZW!TC$F.LZB;]U=- MT-ON08F=\U@(ZF>#B<_8J!IUCQ7TD1=P.)Y>W22B^&E)&T*T872GJ#+.]C5& M*.LE*-*;I"#YCZUK]3H(6C%*

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end XML 78 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 79 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 80 FilingSummary.xml IDEA: XBRL DOCUMENT 3.19.1 html 273 263 1 false 63 0 false 10 false false R1.htm 0001000 - Document - Document And Entity Information Sheet http://www.mercuryinsurance.com/role/DocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 1001000 - Statement - Consolidated Balance Sheets Sheet http://www.mercuryinsurance.com/role/ConsolidatedBalanceSheets Consolidated Balance Sheets Statements 2 false false R3.htm 1001501 - Statement - Consolidated Balance Sheets (Parenthetical) Sheet http://www.mercuryinsurance.com/role/ConsolidatedBalanceSheetsParenthetical Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 1002000 - Statement - Consolidated Statements Of Operations Sheet http://www.mercuryinsurance.com/role/ConsolidatedStatementsOfOperations Consolidated Statements Of Operations Statements 4 false false R5.htm 1004000 - Statement - Consolidated Statements of Shareholders' Equity Statement Sheet http://www.mercuryinsurance.com/role/ConsolidatedStatementsOfShareholdersEquityStatement Consolidated Statements of Shareholders' Equity Statement Statements 5 false false R6.htm 1005000 - Statement - Consolidated Statements Of Cash Flows (Unaudited) Sheet http://www.mercuryinsurance.com/role/ConsolidatedStatementsOfCashFlowsUnaudited Consolidated Statements Of Cash Flows (Unaudited) Statements 6 false false R7.htm 2101100 - Disclosure - General Sheet http://www.mercuryinsurance.com/role/General General Notes 7 false false R8.htm 2102100 - Disclosure - Recently Issued Accounting Standards Sheet http://www.mercuryinsurance.com/role/RecentlyIssuedAccountingStandards Recently Issued Accounting Standards Notes 8 false false R9.htm 2103100 - Disclosure - Financial Instruments Sheet http://www.mercuryinsurance.com/role/FinancialInstruments Financial Instruments Notes 9 false false R10.htm 2104100 - Disclosure - Fair Value Option Sheet http://www.mercuryinsurance.com/role/FairValueOption Fair Value Option Notes 10 false false R11.htm 2105100 - Disclosure - Fair Value Measurement Sheet http://www.mercuryinsurance.com/role/FairValueMeasurement Fair Value Measurement Notes 11 false false R12.htm 2106100 - Disclosure - Leases (Notes) Notes http://www.mercuryinsurance.com/role/LeasesNotes Leases (Notes) Notes 12 false false R13.htm 2107100 - Disclosure - Derivative Financial Instruments Sheet http://www.mercuryinsurance.com/role/DerivativeFinancialInstruments Derivative Financial Instruments Notes 13 false false R14.htm 2108100 - Disclosure - Goodwill and Other Intangible Assets Sheet http://www.mercuryinsurance.com/role/GoodwillAndOtherIntangibleAssets Goodwill and Other Intangible Assets Notes 14 false false R15.htm 2109100 - Disclosure - Share-Based Compensation Sheet http://www.mercuryinsurance.com/role/ShareBasedCompensation Share-Based Compensation Notes 15 false false R16.htm 2110100 - Disclosure - Income Taxes Sheet http://www.mercuryinsurance.com/role/IncomeTaxes Income Taxes Notes 16 false false R17.htm 2110100 - Disclosure - Loss And Loss Adjustment Expense Reserves Sheet http://www.mercuryinsurance.com/role/LossAndLossAdjustmentExpenseReserves Loss And Loss Adjustment Expense Reserves Notes 17 false false R18.htm 2112100 - Disclosure - Notes Payable Notes http://www.mercuryinsurance.com/role/NotesPayable Notes Payable Notes 18 false false R19.htm 2113100 - Disclosure - Contingencies Sheet http://www.mercuryinsurance.com/role/Contingencies Contingencies Notes 19 false false R20.htm 2114100 - Disclosure - Segment Information Sheet http://www.mercuryinsurance.com/role/SegmentInformation Segment Information Notes 20 false false R21.htm 2201201 - Disclosure - General (Policies) Sheet http://www.mercuryinsurance.com/role/GeneralPolicies General (Policies) Policies http://www.mercuryinsurance.com/role/RecentlyIssuedAccountingStandards 21 false false R22.htm 2303301 - Disclosure - Financial Instruments (Tables) Sheet http://www.mercuryinsurance.com/role/FinancialInstrumentsTables Financial Instruments (Tables) Tables http://www.mercuryinsurance.com/role/FinancialInstruments 22 false false R23.htm 2304301 - Disclosure - Fair Value Option (Tables) Sheet http://www.mercuryinsurance.com/role/FairValueOptionTables Fair Value Option (Tables) Tables http://www.mercuryinsurance.com/role/FairValueOption 23 false false R24.htm 2305301 - Disclosure - Fair Value Measurement (Tables) Sheet http://www.mercuryinsurance.com/role/FairValueMeasurementTables Fair Value Measurement (Tables) Tables http://www.mercuryinsurance.com/role/FairValueMeasurement 24 false false R25.htm 2306301 - Disclosure - Leases (Tables) Sheet http://www.mercuryinsurance.com/role/LeasesTables Leases (Tables) Tables http://www.mercuryinsurance.com/role/LeasesNotes 25 false false R26.htm 2307301 - Disclosure - Derivative Financial Instruments (Tables) Sheet http://www.mercuryinsurance.com/role/DerivativeFinancialInstrumentsTables Derivative Financial Instruments (Tables) Tables http://www.mercuryinsurance.com/role/DerivativeFinancialInstruments 26 false false R27.htm 2308301 - Disclosure - Goodwill and Other Intangible Assets (Tables) Sheet http://www.mercuryinsurance.com/role/GoodwillAndOtherIntangibleAssetsTables Goodwill and Other Intangible Assets (Tables) Tables http://www.mercuryinsurance.com/role/GoodwillAndOtherIntangibleAssets 27 false false R28.htm 2309301 - Disclosure - Share-Based Compensation (Tables) Sheet http://www.mercuryinsurance.com/role/ShareBasedCompensationTables Share-Based Compensation (Tables) Tables http://www.mercuryinsurance.com/role/ShareBasedCompensation 28 false false R29.htm 2310301 - Disclosure - Loss And Loss Adjustment Expense Reserves (Tables) Sheet http://www.mercuryinsurance.com/role/LossAndLossAdjustmentExpenseReservesTables Loss And Loss Adjustment Expense Reserves (Tables) Tables http://www.mercuryinsurance.com/role/LossAndLossAdjustmentExpenseReserves 29 false false R30.htm 2312301 - Disclosure - Notes Payable (Tables) Notes http://www.mercuryinsurance.com/role/NotesPayableTables Notes Payable (Tables) Tables http://www.mercuryinsurance.com/role/NotesPayable 30 false false R31.htm 2314301 - Disclosure - Segment Information (Tables) Sheet http://www.mercuryinsurance.com/role/SegmentInformationTables Segment Information (Tables) Tables http://www.mercuryinsurance.com/role/SegmentInformation 31 false false R32.htm 2401402 - Disclosure - General (Details) Sheet http://www.mercuryinsurance.com/role/GeneralDetails General (Details) Details http://www.mercuryinsurance.com/role/GeneralPolicies 32 false false R33.htm 2403402 - Disclosure - Financial Instruments (Estimated Fair Values Of Financial Instruments) (Details) Sheet http://www.mercuryinsurance.com/role/FinancialInstrumentsEstimatedFairValuesOfFinancialInstrumentsDetails Financial Instruments (Estimated Fair Values Of Financial Instruments) (Details) Details http://www.mercuryinsurance.com/role/FinancialInstrumentsTables 33 false false R34.htm 2403403 - Disclosure - Financial Instruments (Narrative) (Details) Sheet http://www.mercuryinsurance.com/role/FinancialInstrumentsNarrativeDetails Financial Instruments (Narrative) (Details) Details http://www.mercuryinsurance.com/role/FinancialInstrumentsTables 34 false false R35.htm 2404402 - Disclosure - Fair Value Option (Gains And Losses Due To Changes In Fair Value Of Investments) (Details) Sheet http://www.mercuryinsurance.com/role/FairValueOptionGainsAndLossesDueToChangesInFairValueOfInvestmentsDetails Fair Value Option (Gains And Losses Due To Changes In Fair Value Of Investments) (Details) Details http://www.mercuryinsurance.com/role/FairValueOptionTables 35 false false R36.htm 2405402 - Disclosure - Fair Value Measurement (Narrative) (Details) Sheet http://www.mercuryinsurance.com/role/FairValueMeasurementNarrativeDetails Fair Value Measurement (Narrative) (Details) Details http://www.mercuryinsurance.com/role/FairValueMeasurementTables 36 false false R37.htm 2405403 - Disclosure - Fair Value Measurement (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques) (Details) Sheet http://www.mercuryinsurance.com/role/FairValueMeasurementScheduleOfAssetsAndLiabilitiesMeasuredAtFairValueOnRecurringBasisValuationTechniquesDetails Fair Value Measurement (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques) (Details) Details http://www.mercuryinsurance.com/role/FairValueMeasurementTables 37 false false R38.htm 2405404 - Disclosure - Fair Value Measurement (Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value) (Details) Sheet http://www.mercuryinsurance.com/role/FairValueMeasurementSummaryOfChangesInFairValueOfLevel3FinancialAssetsAndFinancialLiabilitiesHeldAtFairValueDetails Fair Value Measurement (Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value) (Details) Details http://www.mercuryinsurance.com/role/FairValueMeasurementTables 38 false false R39.htm 2405405 - Disclosure - Fair Value Measurement Fair Value Measurement (Financial Instruments Disclosed, But Not Carried, At Fair Value) (Details) Sheet http://www.mercuryinsurance.com/role/FairValueMeasurementFairValueMeasurementFinancialInstrumentsDisclosedButNotCarriedAtFairValueDetails Fair Value Measurement Fair Value Measurement (Financial Instruments Disclosed, But Not Carried, At Fair Value) (Details) Details 39 false false R40.htm 2406402 - Disclosure - Leases (Narrative) (Details) Sheet http://www.mercuryinsurance.com/role/LeasesNarrativeDetails Leases (Narrative) (Details) Details http://www.mercuryinsurance.com/role/LeasesTables 40 false false R41.htm 2406403 - Disclosure - Leases (Lease Cost) (Details) Sheet http://www.mercuryinsurance.com/role/LeasesLeaseCostDetails Leases (Lease Cost) (Details) Details http://www.mercuryinsurance.com/role/LeasesTables 41 false false R42.htm 2406404 - Disclosure - Leases (Supplemental Balance Sheet Information) (Details) Sheet http://www.mercuryinsurance.com/role/LeasesSupplementalBalanceSheetInformationDetails Leases (Supplemental Balance Sheet Information) (Details) Details http://www.mercuryinsurance.com/role/LeasesTables 42 false false R43.htm 2406405 - Disclosure - Leases (Weighted Average Lease Term and Discount Rate) (Details) Sheet http://www.mercuryinsurance.com/role/LeasesWeightedAverageLeaseTermAndDiscountRateDetails Leases (Weighted Average Lease Term and Discount Rate) (Details) Details http://www.mercuryinsurance.com/role/LeasesTables 43 false false R44.htm 2406406 - Disclosure - Leases (Supplemental Cash Flow Information) (Details) Sheet http://www.mercuryinsurance.com/role/LeasesSupplementalCashFlowInformationDetails Leases (Supplemental Cash Flow Information) (Details) Details http://www.mercuryinsurance.com/role/LeasesTables 44 false false R45.htm 2406407 - Disclosure - Leases (Maturities of Operating Lease Liabilities After ASU Adoption) (Details) Sheet http://www.mercuryinsurance.com/role/LeasesMaturitiesOfOperatingLeaseLiabilitiesAfterAsuAdoptionDetails Leases (Maturities of Operating Lease Liabilities After ASU Adoption) (Details) Details http://www.mercuryinsurance.com/role/LeasesTables 45 false false R46.htm 2406408 - Disclosure - Leases (Future Rent Expense Due Prior To ASU Adoption) (Details) Sheet http://www.mercuryinsurance.com/role/LeasesFutureRentExpenseDuePriorToAsuAdoptionDetails Leases (Future Rent Expense Due Prior To ASU Adoption) (Details) Details http://www.mercuryinsurance.com/role/LeasesTables 46 false false R47.htm 2407402 - Disclosure - Derivative Financial Instruments (Narrative) (Details) Sheet http://www.mercuryinsurance.com/role/DerivativeFinancialInstrumentsNarrativeDetails Derivative Financial Instruments (Narrative) (Details) Details http://www.mercuryinsurance.com/role/DerivativeFinancialInstrumentsTables 47 false false R48.htm 2407403 - Disclosure - Derivative Financial Instruments (Summary Of Location And Amounts Of Derivative Fair Values In The Consolidated Balance Sheets) (Details) Sheet http://www.mercuryinsurance.com/role/DerivativeFinancialInstrumentsSummaryOfLocationAndAmountsOfDerivativeFairValuesInConsolidatedBalanceSheetsDetails Derivative Financial Instruments (Summary Of Location And Amounts Of Derivative Fair Values In The Consolidated Balance Sheets) (Details) Details http://www.mercuryinsurance.com/role/DerivativeFinancialInstrumentsTables 48 false false R49.htm 2407404 - Disclosure - Derivative Financial Instruments (Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations) (Details) Sheet http://www.mercuryinsurance.com/role/DerivativeFinancialInstrumentsScheduleOfDerivativeGainsAndLossesInConsolidatedStatementsOfOperationsDetails Derivative Financial Instruments (Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations) (Details) Details http://www.mercuryinsurance.com/role/DerivativeFinancialInstrumentsTables 49 false false R50.htm 2408402 - Disclosure - Goodwill and Other Intangible Assets (Narrative) (Details) Sheet http://www.mercuryinsurance.com/role/GoodwillAndOtherIntangibleAssetsNarrativeDetails Goodwill and Other Intangible Assets (Narrative) (Details) Details http://www.mercuryinsurance.com/role/GoodwillAndOtherIntangibleAssetsTables 50 false false R51.htm 2408403 - Disclosure - Goodwill and Other Intangible Assets (Schedule Of Components Of Other Intangible Assets) (Details) Sheet http://www.mercuryinsurance.com/role/GoodwillAndOtherIntangibleAssetsScheduleOfComponentsOfOtherIntangibleAssetsDetails Goodwill and Other Intangible Assets (Schedule Of Components Of Other Intangible Assets) (Details) Details http://www.mercuryinsurance.com/role/GoodwillAndOtherIntangibleAssetsTables 51 false false R52.htm 2408404 - Disclosure - Goodwill and Other Intangible Assets (Schedule Of Estimated Future Amortization Expense Related To Intangible Assets) (Details) Sheet http://www.mercuryinsurance.com/role/GoodwillAndOtherIntangibleAssetsScheduleOfEstimatedFutureAmortizationExpenseRelatedToIntangibleAssetsDetails Goodwill and Other Intangible Assets (Schedule Of Estimated Future Amortization Expense Related To Intangible Assets) (Details) Details http://www.mercuryinsurance.com/role/GoodwillAndOtherIntangibleAssetsTables 52 false false R53.htm 2409402 - Disclosure - Share-Based Compensation (Narrative) (Details) Sheet http://www.mercuryinsurance.com/role/ShareBasedCompensationNarrativeDetails Share-Based Compensation (Narrative) (Details) Details http://www.mercuryinsurance.com/role/ShareBasedCompensationTables 53 false false R54.htm 2409403 - Disclosure - Share-Based Compensation (Stock Option Valuation Assumptions) (Details) Sheet http://www.mercuryinsurance.com/role/ShareBasedCompensationStockOptionValuationAssumptionsDetails Share-Based Compensation (Stock Option Valuation Assumptions) (Details) Details http://www.mercuryinsurance.com/role/ShareBasedCompensationTables 54 false false R55.htm 2410401 - Disclosure - Income Taxes (Details) Sheet http://www.mercuryinsurance.com/role/IncomeTaxesDetails Income Taxes (Details) Details http://www.mercuryinsurance.com/role/IncomeTaxes 55 false false R56.htm 2410402 - Disclosure - Loss And Loss Adjustment Expense Reserves (Activity In The Reserves For Losses And Loss Adjustment Expenses) (Details) Sheet http://www.mercuryinsurance.com/role/LossAndLossAdjustmentExpenseReservesActivityInReservesForLossesAndLossAdjustmentExpensesDetails Loss And Loss Adjustment Expense Reserves (Activity In The Reserves For Losses And Loss Adjustment Expenses) (Details) Details http://www.mercuryinsurance.com/role/LossAndLossAdjustmentExpenseReservesTables 56 false false R57.htm 2410403 - Disclosure - Loss And Loss Adjustment Expense Reserves (Narrative) (Details) Sheet http://www.mercuryinsurance.com/role/LossAndLossAdjustmentExpenseReservesNarrativeDetails Loss And Loss Adjustment Expense Reserves (Narrative) (Details) Details http://www.mercuryinsurance.com/role/LossAndLossAdjustmentExpenseReservesTables 57 false false R58.htm 2412402 - Disclosure - Notes Payable (Schedule of Long-term Debt) (Details) Notes http://www.mercuryinsurance.com/role/NotesPayableScheduleOfLongTermDebtDetails Notes Payable (Schedule of Long-term Debt) (Details) Details http://www.mercuryinsurance.com/role/NotesPayableTables 58 false false R59.htm 2412403 - Disclosure - Notes Payable (Narrative) (Details) Notes http://www.mercuryinsurance.com/role/NotesPayableNarrativeDetails Notes Payable (Narrative) (Details) Details http://www.mercuryinsurance.com/role/NotesPayableTables 59 false false R60.htm 2413401 - Disclosure - Contingencies - Loss Contingencies (Details) Sheet http://www.mercuryinsurance.com/role/ContingenciesLossContingenciesDetails Contingencies - Loss Contingencies (Details) Details 60 false false R61.htm 2413402 - Disclosure - Contingencies - Gain Contingencies (Details) Sheet http://www.mercuryinsurance.com/role/ContingenciesGainContingenciesDetails Contingencies - Gain Contingencies (Details) Details 61 false false R62.htm 2414402 - Disclosure - Segment Information - Summary of Operating Results by Segment (Details) Sheet http://www.mercuryinsurance.com/role/SegmentInformationSummaryOfOperatingResultsBySegmentDetails Segment Information - Summary of Operating Results by Segment (Details) Details 62 false false R63.htm 2414403 - Disclosure - Segment Information - Summary of Premiums Written and Earned by Segment (Details) Sheet http://www.mercuryinsurance.com/role/SegmentInformationSummaryOfPremiumsWrittenAndEarnedBySegmentDetails Segment Information - Summary of Premiums Written and Earned by Segment (Details) Details 63 false false All Reports Book All Reports mcy-20190331.xml mcy-20190331.xsd mcy-20190331_cal.xml mcy-20190331_def.xml mcy-20190331_lab.xml mcy-20190331_pre.xml http://xbrl.sec.gov/dei/2018-01-31 http://fasb.org/us-gaap/2018-01-31 http://xbrl.sec.gov/invest/2013-01-31 http://fasb.org/srt/2018-01-31 true true ZIP 82 0000064996-19-000015-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000064996-19-000015-xbrl.zip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Ü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Ǟ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