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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Fixed maturities    
Total Available-for-Sale Fixed Maturities $ 1,589,248 $ 1,686,502
Total Equity Securities 0 55,019
Mortgage loans 41,426 45,421
Less: allowance for mortgage loan losses 46 55
Mortgage loans, net 41,380 45,366
Other long-term investments 99,020 99,507
Short-term investments 100 100
Total investments 1,729,748 1,886,494
Cash and cash equivalents 217,785 102,046
Accrued investment income 16,325 15,934
Premiums receivable (net of allowance for doubtful accounts of $1,942 in 2024 and $1,794 in 2023) 518,245 464,791
Deferred policy acquisition costs 135,210 126,532
Property and equipment (primarily land and buildings, at cost, less accumulated depreciation of $70,615 in 2024 and $68,242 in 2023) 134,354 134,247
Reinsurance receivables and recoverables (net of allowance for credit losses of $102 in 2024 and $97 in 2023) 239,971 223,269
Prepaid reinsurance premiums 24,608 27,682
Intangible assets 4,438 4,615
Deferred tax asset 22,735 13,621
Income taxes receivable 11,524 21,463
Other assets 189,692 123,496
TOTAL ASSETS 3,244,635 3,144,190
Liabilities    
Losses and loss settlement expenses 1,690,885 1,638,755
Unearned premiums 586,742 549,384
Accrued expenses and other liabilities 180,242 172,306
Long term debt 50,000 50,000
TOTAL LIABILITIES 2,507,869 2,410,445
Stockholders' Equity    
Common stock, $0.001 par value; authorized 75,000,000 shares; 25,293,156 and 25,269,842 shares issued and outstanding in 2024 and 2023, respectively 25 25
Additional paid-in capital 210,886 209,986
Retained earnings 584,147 574,691
Accumulated other comprehensive income, net of tax (58,292) (50,957)
TOTAL STOCKHOLDERS' EQUITY 736,766 733,745
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 3,244,635 $ 3,144,190