CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investment portfolio:
Fixed income, available-for-sale, at fair value (amortized cost, 2021 - $6,397,658; 2020 - $6,317,164)	$ 6,587,581	$ 6,661,596
Equity securities, at fair value (cost, 2021 - $15,838; 2020 - $17,522)	16,068	18,215
Other invested assets, at cost	3,100	3,100
Total investment portfolio	6,606,749	6,682,911
Cash and cash equivalents	284,690	287,953
Restricted cash and cash equivalents	20,268	8,727
Accrued investment income	51,902	49,997
Reinsurance recoverable on loss reserves	66,905	95,042
Reinsurance recoverable on paid losses	36,275	669
Premiums receivable	56,540	56,044
Home office and equipment, net	45,614	47,144
Deferred insurance policy acquisition costs	21,671	21,561
Other assets	134,394	104,478
Total assets	7,325,008	7,354,526
Liabilities:
Loss reserves	883,522	880,537
Unearned premiums	241,690	287,099
Federal Home Loan Bank Advance	155,000	155,000
Senior notes	881,508	879,379
Convertible junior subordinated debentures	110,204	208,814
Other liabilities	191,702	244,711
Total liabilities	2,463,626	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 - 320,336; 2020 - 338,573)	371,353	371,353
Paid-in capital	1,794,906	1,862,042
Treasury stock at cost (shares 2021 - 51,017; 2020 - 32,779)	(675,265)	(393,326)
Accumulated other comprehensive income, net of tax	119,697	216,821
Retained earnings	3,250,691	2,642,096
Total shareholders' equity	4,861,382	4,698,986
Total liabilities and shareholders' equity	$ 7,325,008	$ 7,354,526