CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Securities, available-for-sale, at fair value:
Fixed income (amortized cost, 2016 - $4,717,211; 2015 - $4,684,148)	$ 4,685,222	$ 4,657,561
Equity securities	7,128	5,645
Total investment portfolio	4,692,350	4,663,206
Cash and cash equivalents	155,410	181,120
Accrued investment income	44,073	40,224
Reinsurance recoverable on loss reserves	50,493	44,487
Reinsurance recoverable on paid losses	4,964	3,319
Premiums receivable	52,392	48,469
Home office and equipment, net	36,088	30,095
Deferred insurance policy acquisition costs	17,759	15,241
Deferred income taxes, net	607,655	762,080
Other assets	73,345	80,102
Total assets	5,734,529	5,868,343
Liabilities:
Loss reserves	1,438,813	1,893,402
Unearned premiums	329,737	279,973
FHLB Advance	155,000	0
Senior notes	417,406	0
Convertible senior notes	349,461	822,301
Convertible junior subordinated debentures	256,872	389,522
Other liabilities	238,398	247,005
Total liabilities	3,185,687	3,632,203
Contingencies
Shareholders' equity:
Common stock (one dollar par value, shares authorized 1,000,000; shares issued 2016 - 359,400; 2015 - 340,097; outstanding 2016 - 340,663; 2015 - 339,657)	359,400	340,097
Paid-in capital	1,782,337	1,670,238
Treasury stock (shares at cost 2016 - 18,737; 2015 - 440)	(150,359)	(3,362)
Accumulated other comprehensive loss, net of tax	(75,100)	(60,880)
Retained earnings	632,564	290,047
Total shareholders' equity	2,548,842	2,236,140
Total liabilities and shareholders' equity	$ 5,734,529	$ 5,868,343