CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investment portfolio:
Fixed income, available-for-sale, at fair value (amortized cost 2022 - $5,970,459; 2021 - $6,397,658)	$ 5,400,982	$ 6,587,581
Equity securities, at fair value (cost 2022 - $16,006; 2021 - $15,838)	13,885	16,068
Other invested assets, at cost	850	3,100
Total investment portfolio	5,415,717	6,606,749
Cash and cash equivalents	241,982	284,690
Restricted cash and cash equivalents	7,776	20,268
Accrued investment income	52,867	51,902
Reinsurance recoverable on loss reserves	46,384	66,905
Reinsurance recoverable on paid losses	214	36,275
Premiums receivable	57,654	56,540
Home office and equipment, net	44,206	45,614
Deferred insurance policy acquisition costs	19,975	21,671
Deferred income taxes, net	122,228	0
Other assets	145,113	134,394
Total assets	6,154,116	7,325,008
Liabilities:
Loss reserves	603,370	883,522
Unearned premiums	207,935	241,690
Federal Home Loan Bank advance	0	155,000
Senior notes	641,357	881,508
Convertible junior subordinated debentures	21,296	110,204
Other liabilities	140,097	191,702
Total liabilities	1,614,055	2,463,626
Contingencies
Shareholders’ equity:
Common stock (one dollar par value, shares authorized 1,000,000; shares issued 2022 - 371,353; 2021 - 371,353; shares outstanding 2022 - 299,478; 2021 - 320,336)	371,353	371,353
Paid-in capital	1,792,043	1,794,906
Treasury stock at cost (shares 2022 - 71,875; 2021 - 51,017)	(970,870)	(675,265)
Accumulated other comprehensive income (loss), net of tax	(495,525)	119,697
Retained earnings	3,843,060	3,250,691
Total shareholders’ equity	4,540,061	4,861,382
Total liabilities and shareholders’ equity	$ 6,154,116	$ 7,325,008