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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Available-for-sale, at fair value (amortized cost of $3,217,866 and allowance for credit losses of $228 at 6/30/24) (amortized cost of $3,054,391 and allowance for credit losses of $306 at 12/31/23) $ 2,989,527 $ 2,855,849
Equity securities, at fair value (cost - $381,138 at 6/30/24 and $354,022 at 12/31/23) 666,563 590,041
Short-term investments, at cost which approximates fair value 125,865 134,923
Other invested assets 55,364 59,081
Cash 50,030 36,424
Total investments and cash 3,887,349 3,676,318
Accrued investment income 26,683 24,062
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $21,791 at 6/30/24 and $21,438 at 12/31/23 294,774 221,206
Ceded unearned premium 114,893 112,257
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $11,025 at 6/30/24 and $10,608 at 12/31/23 782,288 757,349
Deferred policy acquisition costs 167,295 146,566
Property and equipment, at cost, net of accumulated depreciation of $74,768 at 6/30/24 and $74,279 at 12/31/23 46,574 46,715
Investment in unconsolidated investees 67,249 56,966
Goodwill and intangibles 53,562 53,562
Income taxes-deferred 12,291 15,872
Other assets 58,715 69,348
TOTAL ASSETS 5,511,673 5,180,221
Liabilities    
Unpaid loss and settlement expenses 2,544,622 2,446,025
Unearned premiums 992,754 892,326
Reinsurance balances payable 38,968 71,507
Funds held 107,235 101,446
Income taxes-current 7,610 3,757
Debt 100,000 100,000
Accrued expenses 83,805 108,880
Other liabilities 51,972 42,766
TOTAL LIABILITIES 3,926,966 3,766,707
Shareholders' Equity    
Common stock ($0.01 par value) (Shares authorized - 200,000,000) (68,676,268 shares issued, 45,746,054 shares outstanding at 6/30/24) (68,570,261 shares issued, 45,640,047 shares outstanding at 12/31/23) 687 686
Paid-in capital 369,785 362,345
Accumulated other comprehensive earnings (loss) (186,817) (166,303)
Retained earnings 1,794,051 1,609,785
Deferred compensation 13,183 13,539
Treasury shares, at cost (22,930,214 shares at 6/30/24 and 12/31/23) (406,182) (406,538)
TOTAL SHAREHOLDERS' EQUITY 1,584,707 1,413,514
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 5,511,673 $ 5,180,221