XML 16 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Investments    
Fixed maturities, available-for-sale, at fair value (amortized cost, $3,666,295 and $2,361,575, respectively; allowance for expected credit losses, none as of June 30, 2021 and $552 as of December 31, 2020) $ 3,734,655 $ 2,457,531
Fixed maturities, trading, at fair value (cost, $46,167 and $47,907, respectively) 45,957 48,456
Equity investments, at fair value (cost, $229,055 and $113,709, respectively) 234,211 120,101
Short-term investments 351,885 337,813
Business owned life insurance 80,198 67,847
Investment in unconsolidated subsidiaries 314,892 310,529
Other investments (at fair value, $106,895 and $44,116, respectively, otherwise at cost or amortized cost) 110,052 47,068
Total Investments 4,871,850 3,389,345
Cash and cash equivalents 160,796 215,782
Premiums receivable, net 288,589 201,395
Receivable from reinsurers on paid losses and loss adjustment expenses 16,280 14,370
Receivable from reinsurers on unpaid losses and loss adjustment expenses 484,059 385,087
Prepaid reinsurance premiums 39,261 35,885
Deferred policy acquisition costs 52,102 47,196
Deferred tax asset, net 110,785 57,105
Real estate, net 30,722 30,529
Operating lease ROU assets 21,670 19,013
Intangible assets, net 76,574 65,720
Goodwill 49,610 49,610
Other assets 155,889 143,766
Total Assets 6,358,187 4,654,803
Policy liabilities and accruals    
Reserve for losses and loss adjustment expenses 3,621,831 2,417,179
Unearned premiums 498,653 361,547
Reinsurance premiums payable 45,178 39,998
Total Policy Liabilities 4,165,662 2,818,725
Operating lease liabilities 23,499 20,116
Other liabilities 286,123 182,039
Debt less unamortized debt issuance costs 458,863 284,713
Total Liabilities 4,934,147 3,305,593
Shareholders' Equity    
Common shares (par value $0.01 per share, 100,000,000 shares authorized, 63,306,684 and 63,217,708 shares issued, respectively) 633 632
Additional paid-in capital 390,748 388,150
Accumulated other comprehensive income (loss) (net of deferred tax expense (benefit) of $14,278 and $19,386, respectively) 53,072 75,227
Retained earnings 1,395,549 1,301,163
Treasury shares, at cost (9,325,180 shares as of each respective period end) (415,962) (415,962)
Total Shareholders' Equity 1,424,040 1,349,210
Total Liabilities and Shareholders' Equity $ 6,358,187 $ 4,654,803