XML 16 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Investments (Notes 5 and 6)    
Fixed-maturities available for sale—at fair value (amortized cost of $5,648,303 and $5,599,111) $ 5,176,521 $ 5,188,228
Trading securities—at fair value (amortized cost of $99,005 and $110,484) 91,928 106,423
Equity securities—at fair value (cost of $149,266 and $92,124) 143,314 89,057
Mortgage loans held for sale—at fair value (Note 7) 458,096 32,755
Other invested assets—at fair value 7,422 8,625
Short-term investments—at fair value (includes $98,397 and $149,364 of reinvested cash collateral held under securities lending agreements) 710,868 660,566
Total investments 6,588,149 6,085,654
Cash 13,791 18,999
Restricted cash 1,993 1,066
Accrued investment income 47,607 45,783
Accounts and notes receivable 137,777 123,857
Reinsurance recoverables (includes $174 and $59 for paid losses) 31,064 25,909
Deferred policy acquisition costs 18,566 18,718
Property and equipment, net 56,360 63,822
Prepaid federal income taxes (Note 10) 837,736 750,320
Other assets (Note 9) 396,600 459,805
Total assets 8,129,643 7,593,933
Liabilities    
Unearned premiums 206,094 225,396
Reserve for losses and LAE (Note 11) 357,470 370,148
Senior notes (Note 12) 1,513,782 1,417,781
Secured borrowings (Note 12) 484,665 119,476
Reinsurance funds withheld 135,849 130,564
Net deferred tax liability 656,113 589,564
Other liabilities 293,351 343,199
Total liabilities 3,647,324 3,196,128
Commitments and contingencies (Note 13)
Stockholders’ equity    
Common stock ($0.001 par value; 485,000 shares authorized; 2024: 171,898 and 151,148 shares issued and outstanding, respectively; 2023: 173,247 and 153,179 shares issued and outstanding, respectively) 172 173
Treasury stock, at cost (2024: 20,750 shares; 2023: 20,068 shares) (967,218) (945,870)
Additional paid-in capital 1,356,341 1,430,594
Retained earnings 4,470,335 4,243,759
Accumulated other comprehensive income (loss) (Note 15) (377,311) (330,851)
Total stockholders’ equity 4,482,319 4,397,805
Total liabilities and stockholders’ equity $ 8,129,643 $ 7,593,933