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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Available-for-sale, at fair value (amortized cost of $2,753,631 and allowance for credit losses of $327 at 9/30/22) (amortized cost of $2,346,267 and allowance for credit losses of $441 at 12/31/21) $ 2,452,039 $ 2,409,887
Equity securities, at fair value (cost - $327,964 at 9/30/22 and $324,501 at 12/31/21) 462,988 613,776
Other invested assets 48,837 50,501
Cash 723,511 88,804
Total investments and cash 3,687,375 3,162,968
Accrued investment income 19,355 17,505
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $18,478 at 9/30/22 and $18,067 at 12/31/21 201,781 167,279
Ceded unearned premium 137,346 130,916
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $11,400 at 9/30/22 and $11,188 at 12/31/21 770,858 608,086
Deferred policy acquisition costs 128,979 103,553
Property and equipment, at cost, net of accumulated depreciation of $67,911 at 9/30/22 and $75,236 at 12/31/21 50,385 52,161
Investment in unconsolidated investees 58,105 171,311
Goodwill and intangibles 53,562 53,562
Income taxes-deferred 51,791  
Other assets 52,128 40,961
TOTAL ASSETS 5,211,665 4,508,302
Liabilities    
Unpaid losses and settlement expenses 2,322,737 2,043,555
Unearned premiums 786,485 680,444
Reinsurance balances payable 50,349 42,851
Funds held 100,547 89,773
Income taxes-current 132,446 3,092
Income taxes-deferred   83,509
Current portion of long-term debt 149,816  
Long-term debt 50,000 199,676
Accrued expenses 81,066 98,274
Other liabilities 144,226 37,767
TOTAL LIABILITIES 3,817,672 3,278,941
Shareholders' Equity    
Common stock ($0.01 par value) (Shares authorized - 200,000,000) (68,308,385 shares issued, 45,378,171 shares outstanding at 9/30/22) (68,219,551 shares issued, 45,289,337 shares outstanding at 12/31/21) 683 682
Paid-in capital 352,129 343,742
Accumulated other comprehensive earnings (loss) (244,566) 49,826
Retained earnings 1,678,746 1,228,110
Deferred compensation 9,047 9,642
Less: Treasury shares, at cost (22,930,214 shares at 9/30/22 and 12/31/21) (402,046) (402,641)
TOTAL SHAREHOLDERS' EQUITY 1,393,993 1,229,361
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 5,211,665 $ 4,508,302