XML 23 R2.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Fixed maturities    
Available-for-sale, at fair value (amortized cost $1,681,117 in 2023 and $1,662,680 in 2022) $ 1,568,382 $ 1,551,336
Equity securities at fair value (cost $59,922 in 2023 and $75,292 in 2022) 129,625 169,106
Mortgage loans 45,756 37,947
Less: allowance for mortgage loan losses 55 49
Mortgage loans, net 45,701 37,898
Other long-term investments 91,663 86,276
Short-term investments 250 275
Total investments 1,835,621 1,844,891
Cash and cash equivalents 79,704 96,650
Accrued investment income 14,738 14,480
Premiums receivable (net of allowance for doubtful accounts of $1,531 in 2023 and $1,575 in 2022) 463,686 365,729
Deferred policy acquisition costs 122,649 104,225
Property and equipment (primarily land and buildings, at cost, less accumulated depreciation of $63,774 in 2023 and $59,566 in 2022) 133,950 133,113
Reinsurance receivables and recoverables (net of allowance for credit losses of $118 in 2023 and $82 in 2022) 194,866 170,953
Prepaid reinsurance premiums 12,970 11,300
Intangible assets 4,970 5,324
Deferred tax asset 22,479 15,531
Income taxes receivable 42,850 31,418
Other assets 89,394 88,672
TOTAL ASSETS 3,017,877 2,882,286
Liabilities    
Losses and loss settlement expenses 1,614,832 1,497,274
Unearned premiums 537,637 474,388
Accrued expenses and other liabilities 139,043 120,510
Long term debt 50,000 50,000
TOTAL LIABILITIES 2,341,512 2,142,172
Stockholders’ Equity    
Common stock, $0.001 par value; authorized 75,000,000 shares; 25,262,949 and 25,210,541 shares issued and outstanding in 2023 and 2022, respectively 25 25
Additional paid-in capital 208,987 207,030
Retained earnings 556,788 620,555
Accumulated other comprehensive income, net of tax (89,435) (87,496)
TOTAL STOCKHOLDERS’ EQUITY 676,365 740,114
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 3,017,877 $ 2,882,286