CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Investment portfolio:
Fixed income, available-for-sale, at fair value (amortized cost 2023 - $6,130,009; 2022 - $5,926,785)	$ 5,581,537	$ 5,409,698
Equity securities, at fair value (cost 2023 - $15,998; 2022 - $15,924)	13,949	14,140
Other invested assets, at cost	850	850
Total investment portfolio	5,596,336	5,424,688
Cash and cash equivalents	266,543	327,384
Restricted cash and cash equivalents	8,582	5,529
Accrued investment income	58,499	55,178
Reinsurance recoverable on loss reserves	40,934	28,240
Reinsurance recoverable on paid losses	265	18,081
Premiums receivable	57,606	58,000
Home office and equipment, net	39,379	41,419
Deferred insurance policy acquisition costs	15,905	19,062
Deferred income taxes, net	132,030	124,769
Other assets	115,600	111,443
Total assets	6,331,679	6,213,793
Liabilities:
Loss reserves	525,528	557,988
Unearned premiums	165,093	195,289
Senior notes	642,828	641,724
Convertible junior subordinated debentures	0	21,086
Other liabilities	143,525	154,966
Total liabilities	1,476,974	1,571,053
Contingencies
Shareholders’ equity:
Common stock	371,353	371,353
Paid-in capital	1,799,624	1,798,842
Treasury stock at cost	(1,260,422)	(1,050,238)
Accumulated other comprehensive income (loss), net of tax	(496,895)	(481,511)
Retained earnings	4,441,045	4,004,294
Total shareholders’ equity	4,854,705	4,642,740
Total liabilities and shareholders’ equity	$ 6,331,679	$ 6,213,793