CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Securities, available-for-sale, at fair value:
Fixed maturities (amortized cost, 2016 - $4,421,363; 2015 - $4,684,148)	$ 4,556,202	$ 4,657,561
Equity securities	9,876	5,645
Total investment portfolio	4,566,078	4,663,206
Cash and cash equivalents	300,974	181,120
Accrued investment income	39,709	40,224
Reinsurance recoverable on loss reserves	45,215	44,487
Reinsurance recoverable on paid losses	4,773	3,319
Premiums receivable	46,602	48,469
Home office and equipment, net	30,800	30,095
Deferred insurance policy acquisition costs	16,680	15,241
Deferred income taxes, net	617,266	762,080
Other assets	76,689	80,102
Total assets	5,744,786	5,868,343
Liabilities:
Loss reserves	1,632,333	1,893,402
Unearned premiums	308,424	279,973
Federal Home Loan Bank advance	155,000	0
Convertible senior notes	636,324	822,301
Convertible junior subordinated debentures	256,872	389,522
Other liabilities	244,154	247,005
Total liabilities	3,233,107	3,632,203
Contingencies
Shareholders' equity:
Common stock (one dollar par value, shares authorized 1,000,000; shares issued 2016 - 341,076; 2015 - 340,097; shares outstanding 2016 - 340,636; 2015 - 339,657)	341,076	340,097
Paid-in capital	1,660,666	1,670,238
Treasury stock at cost (shares - 440)	(3,362)	(3,362)
Accumulated other comprehensive income (loss), net of tax	44,840	(60,880)
Retained earnings	468,459	290,047
Total shareholders’ equity	2,511,679	2,236,140
Total liabilities and shareholders’ equity	$ 5,744,786	$ 5,868,343