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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Investments:    
Debt securities, available-for-sale, at fair value (amortized cost; $434,119 in 2022 and $288,175 in 2021) $ 426,597 $ 290,073
Equity securities (cost; $30,058 in 2022 and $42,120 in 2021) 28,199 48,695
Total investments 454,796 338,768
Cash and cash equivalents 59,133 352,867
Restricted cash 29,486 3,810
Ceded unearned premiums 237,086 146,433
Premiums receivable 78,355 90,621
Accounts receivable 10,859 6,914
Receivable from reinsurer 58,882  
Receivable for securities 945 1,326
Reinsurance recoverable 578,424 549,964
Deferred policy acquisition costs 8 6,811
Intangible assets, net   819
Federal income tax recoverable 2,668 18,217
Prepaid pension assets 163  
Deferred federal income taxes, net   8,906
Prepaid expenses 1,508 2,389
Other assets 24,389 25,753
Total assets 1,536,702 1,553,598
Liabilities:    
Senior unsecured notes due 2029 (less unamortized debt issuance cost of $648 in 2022 and $746 in 2021) 49,352 49,254
Subordinated debt securities (less unamortized debt issuance cost of $691 in 2022 and $744 in 2021) 56,011 55,959
Reserves for unpaid losses and loss adjustment expenses 880,869 816,681
Unearned premiums 292,691 284,427
Reinsurance payable 128,950 117,908
Pension liability   174
Payable for securities   3,280
Accounts payable and other accrued expenses 68,535 50,394
Total liabilities 1,476,408 1,378,077
Commitments and contingencies (Note 17)
Stockholders' equity:    
Common stock, $1.00 par value, authorized 3,333,333 shares; issued 2,087,283 shares in 2022 and 2021 2,087 2,087
Additional paid-in capital 124,740 124,514
Retained (deficit) earnings (33,407) 74,703
Accumulated other comprehensive loss (8,492) (1,035)
Treasury stock (268,801 shares in 2022 and 270,036 in 2021), at cost (24,634) (24,748)
Total stockholders' equity 60,294 175,521
Total liabilities and stockholders' equity $ 1,536,702 $ 1,553,598