XML 27 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Investments:    
Fixed maturity securities-held-to-maturity, at amortized cost (fair value $607,512 and $561,179 in 2014 and 2013, respectively) $ 579,145 $ 536,583
Fixed maturity securities-available-for-sale, at fair value (cost $282,240 and $244,409 in 2014 and 2013, respectively) 284,613 237,877
Equity securities-available-for-sale, at fair value (cost $3,446 and $9,482 in 2014 and 2013, respectively) 3,980 9,302
Short-term investments 85,806 84,422
Other investments 11,092 10,591
Total investments 964,636 878,775
Cash and cash equivalents 98,818 123,077
Amounts recoverable from reinsurers 85,512 75,326
Premiums receivable, net of allowance 205,113 171,579
Deferred income taxes 33,542 33,645
Accrued interest receivable 11,234 11,242
Property and equipment, net 7,589 7,549
Deferred policy acquisition costs 21,809 19,171
Other assets 11,464 8,637
Total assets 1,439,717 1,329,001
Liabilities:    
Reserves for loss and loss adjustment expenses 657,276 614,557
Unearned premiums 184,238 164,296
Reinsurance premiums payable 1,000 607
Amounts held for others 39,084 35,739
Policyholder deposits 47,450 44,620
Insurance-related assessments 32,137 25,428
Accounts payable and other liabilities 32,651 26,940
Payable for investments purchased 10,397  
Total liabilities 1,004,233 912,187
Shareholders' equity:    
Common stock: Voting-$0.01 par value authorized shares-50,000,000 in 2014 and 2013; 19,984,575 and 19,855,430 shares issued and 18,726,325 and 18,597,180 shares outstanding in 2014 and 2013, respectively 199 198
Additional paid-in capital 195,436 192,537
Treasury stock at cost (1,258,250 shares in 2014 and 2013) (22,370) (22,370)
Accumulated earnings 260,258 250,744
Accumulated other comprehensive income/(loss), net 1,961 (4,295)
Total shareholders' equity 435,484 416,814
Total liabilities and shareholders' equity $ 1,439,717 $ 1,329,001