XML 31 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Investments    
Fixed maturities, available-for-sale, at fair value (amortized cost, $3,852,408 and $3,758,720, respectively; allowance for expected credit losses, $1,602 as of June 30, 2024 and $555 as of December 31, 2023) $ 3,583,505 $ 3,493,597
Fixed maturities, trading, at fair value (cost, $51,939 and $48,449, respectively) 51,782 48,324
Equity investments, at fair value (cost, $145,032 and $164,262, respectively) 128,860 151,295
Short-term investments 219,600 235,785
Business owned life insurance 79,191 78,205
Investment in unconsolidated subsidiaries 283,037 276,756
Other investments (at fair value, $2,224 and $62,604, respectively, otherwise at cost or amortized cost) 6,288 65,819
Total Investments 4,352,263 4,349,781
Cash and cash equivalents 36,877 65,898
Premiums receivable, net (allowance for expected credit losses, $8,120 as of June 30, 2024 and $7,809 as of December 31, 2023) 248,372 235,569
Receivable from reinsurers on paid losses and loss adjustment expenses 7,518 21,122
Receivable from reinsurers on unpaid losses and loss adjustment expenses 447,866 445,573
Prepaid reinsurance premiums 33,517 31,149
Deferred policy acquisition costs 61,041 60,336
Deferred tax asset, net 183,164 186,164
Real estate, net 30,016 29,757
Operating lease ROU assets 16,799 16,275
Intangible assets, net 57,131 60,308
Goodwill 5,500 5,500
Other assets 134,900 124,493
Total Assets 5,614,964 5,631,925
Policy liabilities and accruals    
Reserve for losses and loss adjustment expenses 3,367,540 3,401,281
Unearned premiums 437,691 433,715
Reinsurance premiums payable 28,491 24,019
Total Policy Liabilities and Accruals 3,833,722 3,859,015
Operating lease liabilities 17,757 17,179
Other liabilities 204,203 216,618
Debt less unamortized debt issuance costs 426,854 427,133
Total Liabilities 4,482,536 4,519,945
Shareholders' Equity    
Common shares (par value $0.01 per share, 100,000,000 shares authorized, 63,730,374 and 63,576,932 shares issued, respectively) 637 636
Additional paid-in capital 405,415 403,554
Accumulated other comprehensive income (loss) (net of deferred tax expense (benefit) of ($55,905) and ($55,738), respectively) (206,037) (204,489)
Retained earnings 1,402,115 1,381,981
Treasury shares, at cost (12,606,968 shares as of each respective period end) (469,702) (469,702)
Total Shareholders' Equity 1,132,428 1,111,980
Total Liabilities and Shareholders' Equity $ 5,614,964 $ 5,631,925