XML 13 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Investments:    
Fixed maturity securities, available-for-sale, at fair value (amortized cost of $1,239,724 and $1,047,713, respectively) $ 1,200,273 $ 1,017,651
Fixed maturity securities, held-to-maturity, at amortized cost (net of allowance for credit losses of $225 and $329, respectively) 39,962 42,986
Equity securities, at fair value 112,823 118,249
Mortgage loans, at fair value 43,670 50,070
Equity method investments 101,903 110,653
Other long-term investments 2,665 3,852
Short-term investments, at fair value 215,041 270,226
Total investments 1,716,337 1,613,687
Cash and cash equivalents 72,989 65,891
Restricted cash 35,278 34,445
Premiums receivable, net 377,333 179,235
Reinsurance recoverables, net 667,837 596,334
Ceded unearned premium 255,138 186,121
Deferred policy acquisition costs 116,499 91,955
Deferred income taxes 25,107 21,991
Goodwill and intangible assets, net 87,868 88,435
Other assets 81,108 75,341
Total assets 3,435,494 2,953,435
Liabilities:    
Reserves for losses and loss adjustment expenses 1,470,106 1,314,501
Unearned premiums 711,854 552,532
Deferred ceding commission 47,948 37,057
Reinsurance and premium payables 207,638 150,156
Funds held for others 95,596 58,588
Accounts payable and accrued liabilities 59,796 50,880
Notes payable 100,000 50,000
Subordinated debt, net of debt issuance costs 18,936 78,690
Total liabilities 2,711,874 2,292,404
Stockholders’ equity    
Common stock, $0.01 par value, 500,000,000 shares authorized, 40,096,132 and 39,863,756 shares issued and outstanding, respectively 401 399
Additional paid-in capital 713,542 710,855
Stock notes receivable (5,233) (5,562)
Accumulated other comprehensive loss (31,136) (22,953)
Retained earnings (accumulated deficit) 46,046 (21,708)
Total stockholders’ equity 723,620 661,031
Total liabilities and stockholders’ equity $ 3,435,494 $ 2,953,435