CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
Available for sale investments:
Fixed maturities	$ 36,727	$ 41,010
Equity securities	66,791	110,410
Total available-for-sale investments	103,518	151,420
Other Investments	3,636	7,228
Total investments	107,154	158,648
Cash and cash equivalents	101,810	114,759
Notes and other receivables, net	8,795	9,251
Reinsurance receivables	13,648	14,551
Real estate and water assets, net	369,837	355,570
Property and equipment, net	45,247	12,590
Net deferred income taxes	25,950	20,039
Other assets	11,302	7,094
Total assets	683,743	692,502
LIABILITIES AND SHAREHOLDERS' EQUITY
Reserves for unpaid losses and loss adjustment expenses	21,986	22,816
Debt	50,203	45,743
Deferred compensation	36,712	37,879
Other liabilities	11,199	15,340
Total liabilities	120,100	121,778
Commitments and Contingencies
Common stock, $.001 par value; authorized 100,000 shares, 27,122 issued and 22,705 outstanding at June 30, 2011, and 27,117 issued and 22,700 outstanding at December 31, 2010	27	27
Additional paid-in capital	544,331	542,072
Retained earnings	88,810	88,830
Accumulated other comprehensive income	7,369	15,327
Treasury stock, at cost (common shares: 4,417 in 2011 and in 2010)	(78,152)	(78,152)
Total PICO Holdings, Inc. shareholders' equity	562,385	568,104
Noncontrolling interest in subsidiaries	1,258	2,620
Total shareholders' equity	563,643	570,724
Total liabilities and shareholders' equity	$ 683,743	$ 692,502