CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Investment portfolio:
Fixed income, available-for-sale, at fair value (amortized cost 2023 - $5,979,045; 2022 - $5,926,785)	$ 5,564,053	$ 5,409,698
Equity securities, at fair value (cost 2023 - $15,946; 2022 - $15,924)	14,523	14,140
Other invested assets, at cost	850	850
Total investment portfolio	5,579,426	5,424,688
Cash and cash equivalents	358,214	327,384
Restricted cash and cash equivalents	8,358	5,529
Accrued investment income	54,550	55,178
Reinsurance recoverable on loss reserves	32,761	28,240
Reinsurance recoverable on paid losses	145	18,081
Premiums receivable	57,375	58,000
Home office and equipment, net	40,580	41,419
Deferred insurance policy acquisition costs	18,097	19,062
Deferred income taxes, net	100,174	124,769
Other assets	102,608	111,443
Total assets	6,352,288	6,213,793
Liabilities:
Loss reserves	558,515	557,988
Unearned premiums	183,467	195,289
Senior notes	642,092	641,724
Convertible junior subordinated debentures	21,086	21,086
Other liabilities	169,484	154,966
Total liabilities	1,574,644	1,571,053
Contingencies
Shareholders’ equity:
Common stock	371,353	371,353
Paid-in capital	1,791,609	1,798,842
Treasury stock at cost	(1,119,048)	(1,050,238)
Accumulated other comprehensive income (loss), net of tax	(395,499)	(481,511)
Retained earnings	4,129,229	4,004,294
Total shareholders’ equity	4,777,644	4,642,740
Total liabilities and shareholders’ equity	$ 6,352,288	$ 6,213,793