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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Fixed income:    
Available-for-sale, at fair value $ 1,537,365 $ 1,495,087
Equity securities, at fair value 391,152 410,642
Short-term investments, at cost 10,169 16,339
Other invested assets 11,069 11,597
Cash 27,087 30,620
Total investments and cash 1,976,842 1,964,285
Accrued investment income 15,052 14,629
Premiums and reinsurance balances receivable 174,584 154,573
Ceded unearned premium 52,603 53,961
Reinsurance balances recoverable on unpaid losses 328,030 335,106
Deferred policy acquisition costs 71,575 65,123
Property and equipment 43,407 42,549
Investment in unconsolidated investees 71,179 60,046
Goodwill and intangibles 72,249 72,695
Other assets 9,664 12,575
TOTAL ASSETS 2,815,185 2,775,542
Liabilities:    
Unpaid losses and settlement expenses 1,142,596 1,121,040
Unearned premiums 430,632 401,412
Reinsurance balances payable 36,915 38,013
Funds held 54,055 51,481
Income taxes - deferred 68,462 82,285
Bonds payable, long-term debt 149,647 149,625
Accrued expenses 40,303 63,148
Other liabilities 24,677 23,476
TOTAL LIABILITIES 1,947,287 1,930,480
Shareholders' Equity    
Common stock ($1 par value, 100,000,000 shares authorized)(66,162,839 shares issued, 43,232,625 shares outstanding at 6/30/15)(66,032,929 shares issued, 43,102,715 shares outstanding at 12/31/14) 66,163 66,033
Paid-in capital 217,165 213,737
Accumulated other comprehensive earnings 138,856 171,383
Retained earnings 838,713 786,908
Deferred compensation 14,042 13,769
Less: Treasury shares at cost (22,930,214 shares at 6/30/15 and 12/31/14) (407,041) (406,768)
TOTAL SHAREHOLDERS’ EQUITY 867,898 845,062
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,815,185 $ 2,775,542