CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Securities, available-for-sale, at fair value:
Fixed income (amortized cost, 2017 - $4,666,165; 2016 - $4,717,211)	$ 4,710,153	$ 4,685,222
Equity securities	7,239	7,128
Total investment portfolio	4,717,392	4,692,350
Cash and cash equivalents	250,701	155,410
Accrued investment income	42,928	44,073
Reinsurance recoverable on loss reserves	45,878	50,493
Reinsurance recoverable on paid losses	4,638	4,964
Premiums receivable	53,938	52,392
Home office and equipment, net	43,157	36,088
Deferred insurance policy acquisition costs	19,024	17,759
Deferred income taxes, net	416,167	607,655
Other assets	82,045	73,345
Total assets	5,675,868	5,734,529
Liabilities:
Loss reserves	1,105,151	1,438,813
Unearned premiums	370,816	329,737
Federal Home Loan Bank advance	155,000	155,000
Senior notes	418,271	417,406
Convertible senior notes	0	349,461
Convertible junior subordinated debentures	256,872	256,872
Other liabilities	239,609	238,398
Total liabilities	2,545,719	3,185,687
Contingencies
Shareholders’ equity:
Common stock (one dollar par value, shares authorized 1,000,000; shares issued 2017 - 370,562; 2016 - 359,400; shares outstanding 2017 - 370,562; 2016 - 340,663)	370,562	359,400
Paid-in capital	1,846,260	1,782,337
Treasury stock at cost (shares 2016 - 18,737)	0	(150,359)
Accumulated other comprehensive loss, net of tax	(26,097)	(75,100)
Retained earnings	939,424	632,564
Total shareholders’ equity	3,130,149	2,548,842
Total liabilities and shareholders’ equity	$ 5,675,868	$ 5,734,529