CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Investments:
Debt securities, available-for-sale, at fair value (amortized cost of $438,720 and $433,664, respectively)	$ 451,124	$ 428,641
Debt securities, held-to-maturity, at amortized cost	4,499	5,126
Equity securities, at fair value	22,112	17,758
Total investments	477,735	451,525
Cash and cash equivalents	133,787	64,423
Prepaid reinsurance premiums	82,781	108,577
Premiums receivable, net of allowance of $82 and $77, respectively	31,239	29,791
Reinsurance recoverable, net	199,313	211,424
Deferred acquisition costs, net	45,539	39,436
Income taxes, net	2,369	5,220
Other assets	23,520	14,975
Total assets	996,283	925,371
LIABILITIES AND SHAREHOLDERS’ EQUITY
Loss and loss adjustment expense reserves	268,735	296,230
Unearned premiums	303,808	281,992
Reinsurance payable	52,760	63,599
Long-term debt, net of deferred financing costs of $1,558 and $596, respectively	98,442	44,404
Deferred revenue	5,122	4,585
Other liabilities	36,631	19,302
Total liabilities	765,498	710,112
Commitments and contingencies (see Note 10)
Shareholders' Equity
Preferred stock, $0.01 par value: 1,000,000 shares authorized	0	0
Common stock, $0.01 par value: 25,000,000 shares authorized; 12,849,319 and 12,784,444 shares issued and outstanding, respectively	128	128
Additional paid-in capital	142,486	141,128
Accumulated other comprehensive income (loss)	9,260	(3,750)
Retained earnings	78,911	77,753
Total shareholders’ equity	230,785	215,259
Total liabilities and shareholders' equity	$ 996,283	$ 925,371