Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
ASSETS
Fixed maturity securities (amortized cost $4,651,732; $4,982,459)	$ 4,600,058	$ 4,913,378
Equity securities (cost $530,996; $795,068)	588,341	879,175
Short-term investments (cost $208,121; $283,792)	208,143	283,817
Total investments	5,396,542	6,076,370
Cash	1,284,790	720,257
Receivables:
Premiums	752,248	697,176
Allowance for credit losses on premiums receivable	(6,600)	(6,400)
Premiums receivable, net of allowance for credit losses	745,648	690,776
Accrued investment income	61,895	67,630
Other	151,306	62,118
Total receivables	958,849	820,524
Reinsurance recoverables (net of allowance for credit losses $1,192; $0)	623,599	28,613
Deferred policy acquisition costs	336,470	335,332
Fixed assets (net of accumulated depreciation $332,172; $321,454)	141,650	138,177
Operating lease right-of-use assets	17,637	13,407
Current income taxes	3,897	0
Deferred income taxes	51,893	45,854
Goodwill	42,796	42,796
Other intangible assets, net	7,468	7,682
Other assets	162,067	81,620
Total assets	9,027,658	8,310,632
Liabilities
Loss and loss adjustment expense reserves	3,792,581	3,152,031
Unearned premiums	2,121,243	2,039,830
Notes payable	574,227	574,128
Accounts payable and accrued expenses	172,393	242,118
Operating lease liabilities	17,859	13,580
Current income taxes	0	20,752
Other liabilities	528,744	321,669
Total liabilities	7,207,047	6,364,108
Commitments and contingencies
Shareholders’ equity:
Common stock without par value or stated value: Authorized 70,000 shares; issued and outstanding 55,389; 55,389	99,699	99,699
Retained earnings	1,720,912	1,846,825
Total shareholders’ equity	1,820,611	1,946,524
Total liabilities and shareholders’ equity	$ 9,027,658	$ 8,310,632