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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Available-for-sale, at fair value (amortized cost of $3,302,684 and allowance for credit losses of $234 at 9/30/24) (amortized cost of $3,054,391 and allowance for credit losses of $306 at 12/31/23) $ 3,176,073 $ 2,855,849
Equity securities, at fair value (cost - $405,663 at 9/30/24 and $354,022 at 12/31/23) 729,738 590,041
Short-term investments, at cost which approximates fair value 203,296 134,923
Other invested assets 53,993 59,081
Cash 60,634 36,424
Total investments and cash 4,223,734 3,676,318
Accrued investment income 26,711 24,062
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $22,049 at 9/30/24 and $21,438 at 12/31/23 241,311 221,206
Ceded unearned premium 120,845 112,257
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $10,055 at 9/30/24 and $10,608 at 12/31/23 759,540 757,349
Deferred policy acquisition costs 172,069 146,566
Property and equipment, at cost, net of accumulated depreciation of $74,821 at 9/30/24 and $74,279 at 12/31/23 44,644 46,715
Investment in unconsolidated investees 65,271 56,966
Goodwill and intangibles 53,562 53,562
Income taxes-deferred   15,872
Other assets 84,068 69,348
TOTAL ASSETS 5,791,755 5,180,221
Liabilities    
Unpaid loss and settlement expenses 2,611,941 2,446,025
Unearned premiums 1,010,760 892,326
Reinsurance balances payable 43,423 71,507
Funds held 98,585 101,446
Income taxes-current 4,369 3,757
Income taxes-deferred 15,369  
Debt 100,000 100,000
Accrued expenses 105,813 108,880
Other liabilities 53,145 42,766
TOTAL LIABILITIES 4,043,405 3,766,707
Shareholders' Equity    
Common stock ($0.01 par value) (Shares authorized - 200,000,000) (68,740,134 shares issued, 45,809,920 shares outstanding at 9/30/24) (68,570,261 shares issued, 45,640,047 shares outstanding at 12/31/23) 687 686
Paid-in capital 371,398 362,345
Accumulated other comprehensive earnings (loss) (106,524) (166,303)
Retained earnings 1,875,788 1,609,785
Deferred compensation 11,917 13,539
Less: Treasury shares, at cost (22,930,214 shares at 9/30/24 and 12/31/23) (404,916) (406,538)
TOTAL SHAREHOLDERS' EQUITY 1,748,350 1,413,514
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 5,791,755 $ 5,180,221