Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Fixed maturity securities (amortized cost $3,229,887; $2,973,276)	$ 3,299,873	$ 3,093,275
Equity securities (cost $729,588; $648,282)	619,684	724,751
Short-term investments (cost $242,081; $494,060)	237,520	494,135
Total investments	4,157,077	4,312,161
Cash	252,836	294,398
Receivables:
Premiums	633,328	606,316
Allowance for credit losses on premiums receivable	10,000	1,445
Premiums receivable, net of allowance for credit losses	623,328	604,871
Accrued investment income	43,101	40,107
Other	7,831	6,464
Total receivables	674,260	651,442
Reinsurance recoverables	70,366	78,774
Allowance for credit losses on reinsurance recoverables	148	0
Reinsurance recoverables, net of allowance for credit losses	70,218	78,774
Deferred policy acquisition costs	234,642	233,166
Fixed assets (net of accumulated depreciation $318,274; $312,060)	169,287	168,986
Operating lease right-of-use assets	45,126	44,909
Current income taxes	0	7,642
Deferred income taxes	26,689	0
Goodwill	42,796	42,796
Other intangible assets, net	10,400	10,636
Other assets	33,567	44,247
Total assets	5,716,898	5,889,157
Liabilities
Loss and loss adjustment expense reserves	1,897,945	1,921,255
Unearned premiums	1,384,803	1,355,547
Notes payable	372,233	372,133
Accounts payable and accrued expenses	150,307	143,318
Operating lease liabilities	48,238	47,996
Current income taxes	5,510	0
Deferred income taxes	0	27,964
Other liabilities	234,418	221,442
Total liabilities	4,093,454	4,089,655
Commitments and contingencies
Shareholders’ equity:
Common stock without par value or stated value: Authorized 70,000 shares; issued and outstanding 55,358; 55,358	98,863	98,828
Retained earnings	1,524,581	1,700,674
Total shareholders’ equity	1,623,444	1,799,502
Total liabilities and shareholders’ equity	$ 5,716,898	$ 5,889,157