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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Fixed maturities    
Available-for-sale, at fair value (amortized cost $1,671,758 in 2022 and $1,656,797 in 2021) $ 1,651,468 $ 1,719,790
Equity securities at fair value (cost $80,260 in 2022 and $84,605 in 2021) 194,230 213,401
Mortgage loans 47,042 47,201
Less: allowance for mortgage loan losses 66 71
Mortgage loans, net 46,976 47,130
Other long-term investments 84,007 84,090
Short-term investments 275 275
Total investments 1,976,956 2,064,686
Cash and cash equivalents 109,522 132,104
Accrued investment income 13,935 13,396
Premiums receivable (net of allowance for doubtful accounts of $559 in 2022 and $781 in 2021) 334,890 316,771
Deferred policy acquisition costs 95,762 91,446
Property and equipment (primarily land and buildings, at cost, less accumulated depreciation of $61,633 in 2022 and $60,142 in 2021) 138,721 137,702
Reinsurance receivables and recoverables (net of allowance for credit losses of $83 in 2022 and $102 in 2021) 134,988 127,815
Prepaid reinsurance premiums 8,864 9,328
Intangible assets 5,856 6,034
Income taxes receivable 14,674 32,378
Other assets 95,829 81,061
TOTAL ASSETS 2,929,997 3,012,721
Liabilities    
Losses and loss settlement expenses 1,487,991 1,514,265
Unearned premiums 446,051 439,733
Accrued expenses and other liabilities 103,077 102,849
Long term debt 50,000 50,000
Deferred tax liability 7,253 26,753
TOTAL LIABILITIES 2,094,372 2,133,600
Stockholders’ Equity    
Common stock, $0.001 par value; authorized 75,000,000 shares; 25,119,244 and 25,082,104 shares issued and outstanding in 2022 and 2021, respectively 25 25
Additional paid-in capital 204,006 203,375
Retained earnings 645,966 621,384
Accumulated other comprehensive income, net of tax (14,372) 54,337
TOTAL STOCKHOLDERS’ EQUITY 835,625 879,121
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 2,929,997 $ 3,012,721