CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Investment portfolio:
Fixed income, available-for-sale, at fair value (amortized cost 2021 - $6,682,052; 2020 - $6,317,164)	$ 6,964,409	$ 6,661,596
Equity securities, at fair value (cost 2021 - $14,964; 2020 - $17,522)	15,453	18,215
Other invested assets, at cost	3,100	3,100
Total investment portfolio	6,982,962	6,682,911
Cash and cash equivalents	178,635	287,953
Restricted cash and cash equivalents	12,318	8,727
Accrued investment income	52,214	49,997
Reinsurance recoverable on loss reserves	111,153	95,042
Reinsurance recoverable on paid losses	706	669
Premiums receivable	56,637	56,044
Home office and equipment, net	45,477	47,144
Deferred insurance policy acquisition costs	22,630	21,561
Other assets	112,995	104,478
Total assets	7,575,727	7,354,526
Liabilities:
Loss reserves	936,236	880,537
Unearned premiums	263,751	287,099
Federal Home Loan Bank advance	155,000	155,000
Senior notes	880,443	879,379
Convertible junior subordinated debentures	208,814	208,814
Other liabilities	216,776	244,711
Total liabilities	2,661,020	2,655,540
Contingencies
Shareholders’ equity:
Common stock (one dollar par value, shares authorized 1,000,000; shares issued 2021 - 371,353; 2020 - 371,353; shares outstanding 2021 - 339,316; 2020 - 338,573)	371,353	371,353
Paid-in capital	1,786,260	1,862,042
Treasury stock at cost (shares 2021 - 32,037; 2020 - 32,779)	(384,550)	(393,326)
Accumulated other comprehensive income, net of tax	169,282	216,821
Retained earnings	2,972,362	2,642,096
Total shareholders’ equity	4,914,707	4,698,986
Total liabilities and shareholders’ equity	$ 7,575,727	$ 7,354,526