CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investment portfolio:
Equity securities, at fair value (cost, 2023 - $16,025; 2022 - $15,924)	$ 14,771	$ 14,140
Other invested assets, at cost	850	850
Total investment portfolio	5,738,734	5,424,688
Cash and cash equivalents	363,666	327,384
Restricted cash and cash equivalents	6,978	5,529
Accrued investment income	58,774	55,178
Reinsurance recoverable on loss reserves	33,302	28,240
Reinsurance recoverable on paid losses	9,896	18,081
Premiums receivable	58,499	58,000
Home office and equipment, net	38,755	41,419
Deferred insurance policy acquisition costs	14,591	19,062
Deferred income taxes, net	79,782	124,769
Other assets	135,403	111,443
Total assets	6,538,380	6,213,793
Liabilities:
Loss reserves	505,379	557,988
Unearned premiums	157,779	195,289
Senior notes	643,196	641,724
Convertible junior subordinated debentures	0	21,086
Other liabilities	160,009	154,966
Total liabilities	1,466,363	1,571,053
Contingencies
Shareholders' equity:
Common stock	371,353	371,353
Paid-in capital	1,808,113	1,798,842
Treasury stock, at cost	(1,384,293)	(1,050,238)
Accumulated other comprehensive income (loss), net of tax	(316,281)	(481,511)
Retained earnings	4,593,125	4,004,294
Total shareholders' equity	5,072,017	4,642,740
Total liabilities and shareholders' equity	6,538,380	6,213,793
Fixed income
Investment portfolio:
Fixed income, available-for-sale	5,601,540	5,342,667
Short-Term Investments
Investment portfolio:
Fixed income, available-for-sale	$ 121,573	$ 67,031