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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Assets    
Fixed-maturities available for sale—at fair value (amortized cost of $5,655,280 and $5,587,261) $ 5,172,375 $ 5,017,711
Trading securities—at fair value (amortized cost of $112,636 and $122,472) 108,306 115,665
Equity securities—at fair value (cost of $165,165 and $162,899) 155,870 148,965
Mortgage loans held for sale—at fair value 18,843 3,549
Other invested assets—at fair value 5,746 5,511
Short-term investments—at fair value (includes $86,077 and $99,735 of reinvested cash collateral held under securities lending agreements) 376,752 402,090
Total investments 5,837,892 5,693,491
Cash 50,167 56,183
Restricted cash 577 377
Accrued investment income 42,567 40,093
Accounts and notes receivable 129,565 119,834
Reinsurance recoverables (includes $21 and $18 for paid losses) 24,396 25,633
Deferred policy acquisition costs 18,236 18,460
Property and equipment, net 72,111 70,981
Goodwill and other acquired intangible assets, net (Note 7) 13,914 15,285
Prepaid federal income taxes (Note 10) 596,368 596,368
Other assets (Note 9) 418,609 427,024
Total assets 7,204,402 7,063,729
Liabilities    
Unearned premiums 257,735 271,479
Reserve for losses and LAE (Note 11) 405,651 426,843
Senior notes (Note 12) 1,414,549 1,413,504
Other borrowings (Note 12) 121,642 155,822
Reinsurance funds withheld 153,099 152,067
Net deferred tax liability 455,517 391,083
Other liabilities 289,731 333,604
Total liabilities 3,097,924 3,144,402
Commitments and contingencies (Note 13)
Stockholders’ equity    
Common stock ($0.001 par value; 485,000 shares authorized; 2023: 176,032 and 156,547 shares issued and outstanding, respectively; 2022: 176,509 and 157,056 shares issued and outstanding, respectively) 176 176
Treasury stock, at cost (2023: 19,485 shares; 2022: 19,453 shares) (931,313) (930,643)
Additional paid-in capital 1,515,852 1,519,641
Retained earnings 3,908,396 3,786,952
Accumulated other comprehensive income (loss) (Note 15) (386,633) (456,799)
Total stockholders’ equity 4,106,478 3,919,327
Total liabilities and stockholders’ equity $ 7,204,402 $ 7,063,729