XML 19 R70.htm IDEA: XBRL DOCUMENT v2.4.0.8
SCHEDULE II CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Investments other than subsidiaries:                        
Fixed maturities $ 431,550       $ 445,669       $ 431,550 $ 445,669    
Limited partnerships 68,988       59,954       68,988 59,954    
Total Investments 651,257       617,406       651,257 617,406    
Cash and cash equivalents 59,297       71,549       59,297 71,549 89,726  
Accounts receivable 100,830       83,400       100,830 83,400    
Other assets 19,051       9,818       19,051 9,818    
Total Assets 1,072,270       983,024       1,072,270 983,024    
Liabilities:                        
Total Liabilities 690,546       636,312       690,546 636,312    
Shareholders' equity:                        
Additional paid-in capital 50,594       50,275       50,594 50,275    
Unrealized net gains on investments 49,089       35,467       49,089 35,467    
Foreign exchange adjustment 1,401       1,976       1,401 1,976    
Retained earnings 280,003       258,358       280,003 258,358 241,325 284,346
Shareholders' equity 381,724       346,712       381,724 346,712 319,061 368,735
Total liabilities and shareholders' equity 1,072,270       983,024       1,072,270 983,024    
Revenue:                        
Commissions and service fees                 5,944 5,722 6,098  
Net investment income 2,183 2,192 1,985 2,410 2,734 2,343 2,431 2,422 8,770 9,930 10,729  
Net realized gains (losses) on investments                 23,515 9,011 (17,803)  
Total revenue                 290,972 262,124 243,594  
Expenses:                        
Other                 85,361 77,430 73,328  
Total expenses                 236,062 215,518 288,883  
Income before federal income taxes and equity in undistributed income of subsidiaries                 54,910 46,606 (45,289)  
Federal income tax (benefit)                 18,322 14,687 (17,114)  
Equity in undistributed income (loss) of subsidiaries                 7,995 7,052 (21,890)  
Net income (loss) 8,967 7,771 4,907 14,943 4,676 11,687 4,050 11,506 36,588 31,919 (28,175)  
Condensed Statements of Cash Flows                        
Net cash provided by operating activities                 35,907 55,794 54,284  
Investing activities:                        
Distributions from limited partnerships                 2,528 3,957 757  
Net cash provided by (used in) investing activities                 (32,641) (59,302) 17,295  
Financing activities:                        
Dividends paid to shareholders                 (14,943) (14,886) (14,846)  
Net cash used in financing activities                 (14,943) (14,886) (19,846)  
Increase (decrease) in cash and cash equivalents                 (12,252) (18,177) 51,503  
Cash and cash equivalents at beginning of period       71,549       89,726 71,549 89,726 38,223  
Cash and cash equivalents at end of period 59,297       71,549       59,297 71,549 89,726  
Class A [Member]
                       
Shareholders' equity:                        
Common stock 112       112       112 112    
Class B [Member]
                       
Shareholders' equity:                        
Common stock 525       524       525 524    
Parent Company [Member]
                       
Assets                        
Investment in subsidiaries 398,008       362,450       398,008 362,450    
Due from affiliates 2,465       2,719       2,465 2,719    
Investments other than subsidiaries:                        
Fixed maturities 11,093       11,073       11,093 11,073    
Limited partnerships 248       255       248 255    
Total Investments 11,341       11,328       11,341 11,328    
Cash and cash equivalents 9,848       12,143       9,848 12,143 5,690  
Accounts receivable 7,075       8,033       7,075 8,033    
Other assets 13,453       7,216       13,453 7,216    
Total Assets 442,190       403,889       442,190 403,889    
Liabilities:                        
Premiums payable 30,004       29,652       30,004 29,652    
Deposits from insureds 16,307       15,489       16,307 15,489    
Notes payable to bank 10,000       10,000       10,000 10,000    
Other liabilities 4,155       2,036       4,155 2,036    
Total Liabilities 60,466       57,177       60,466 57,177    
Shareholders' equity:                        
Additional paid-in capital 50,594       50,275       50,594 50,275    
Unrealized net gains on investments 49,089       35,467       49,089 35,467    
Foreign exchange adjustment 1,401       1,976       1,401 1,976    
Retained earnings 280,003       258,358       280,003 258,358    
Shareholders' equity 381,724       346,712       381,724 346,712    
Total liabilities and shareholders' equity 442,190       403,889       442,190 403,889    
Revenue:                        
Commissions and service fees                 21,597 20,753 20,974  
Dividends from subsidiaries                 15,000 14,000 14,000  
Net investment income                 54 48 100  
Net realized gains (losses) on investments                 (11) (49) 67  
Other                 41 24 98  
Total revenue                 36,681 34,776 35,239  
Expenses:                        
Salary and related items                 15,965 15,410 12,281  
Other                 6,633 7,098 5,550  
Total expenses                 22,598 22,508 17,831  
Income before federal income taxes and equity in undistributed income of subsidiaries                 14,083 12,268 17,408  
Federal income tax (benefit)                 (348) (629) 1,004  
Income (loss)                 14,431 12,897 16,404  
Equity in undistributed income (loss) of subsidiaries                 22,157 19,022 (44,579)  
Net income (loss)                 36,588 31,919 (28,175)  
Condensed Statements of Cash Flows                        
Net cash provided by operating activities                 15,125 20,735 13,255  
Investing activities:                        
Purchases of long-term investments                 (10,322) (8,944) (10,025)  
Sales or maturities of long-term investments                 9,982 8,902 9,704  
Decrease in notes receivable from employees                 0 1,252 106  
Distributions from limited partnerships                 0 0 444  
Net disposals (purchases) of property and equipment                 (1,775) (834) (622)  
Other                 (362) 228 128  
Net cash provided by (used in) investing activities                 (2,477) 604 (265)  
Financing activities:                        
Dividends paid to shareholders                 (14,943) (14,886) (14,846)  
Repayment on line of credit                 0 0 (5,000)  
Net cash used in financing activities                 (14,943) (14,886) (19,846)  
Increase (decrease) in cash and cash equivalents                 (2,295) 6,453 (6,856)  
Cash and cash equivalents at beginning of period       12,143       5,690 12,143 5,690 12,546  
Cash and cash equivalents at end of period 9,848       12,143       9,848 12,143 5,690  
Parent Company [Member] | Class A [Member]
                       
Shareholders' equity:                        
Common stock 112       112       112 112    
Parent Company [Member] | Class B [Member]
                       
Shareholders' equity:                        
Common stock $ 525       $ 524       $ 525 $ 524