v3.25.2
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Fixed-maturity securities, available for sale, at fair value (amortized cost: $3,991,871, allowance for credit losses: $42 – 2025; $3,663,031 and $27 – 2024) $ 3,918,078 $ 3,537,563
Equity securities, at fair value (cost: $397,586 – 2025; $313,722 – 2024) 513,882 398,359
Real Estate Investments, Net 15,045 15,045
Short-term investments 34,310 3,714
Total investments 4,481,315 3,954,681
Cash and Cash Equivalent 138,101 113,213
Investment income due and accrued 30,936 27,366
Premiums and fees receivable, net of allowance for credit losses of $26,906 – 2025; $26,926 – 2024 168,366 140,027
Reinsurance recoverables, net 387,279 337,891
Ceded unearned premiums 54,421 52,736
Deferred policy acquisition costs, net of ceding commissions 124,070 109,263
Intangible assets 3,538 3,538
Deferred Income Tax Assets, Net 45,097 60,215
Other assets 123,403 87,774
Total assets 5,556,526 4,886,704
Liabilities    
Reserves for unpaid losses and loss adjustment expenses 2,623,653 2,285,668
Unearned premiums 921,136 828,449
Payable to reinsurers 41,620 43,959
Accounts payable and accrued expenses 38,232 55,159
Debt 184,260 184,122
Other liabilities 25,052 5,786
Total liabilities $ 3,833,953 $ 3,403,143
Common stock, shares outstanding (in shares) 23,299,124 23,272,157
Stockholders' Equity    
Common stock, $0.01 par value, 400,000,000 shares authorized, 23,368,407 and 23,299,124 shares issued and outstanding at June 30, 2025; 23,294,783 and 23,272,157 shares issued and outstanding at December 31, 2024 $ 234 $ 233
Additional paid-in capital 364,138 361,398
Retained earnings 1,444,571 1,229,136
Accumulated other comprehensive loss $ (56,371) $ (97,206)
Treasury Stock, Common, Shares 69,283 22,626
Treasury Stock, Value $ (29,999) $ (10,000)
Total stockholders’ equity 1,722,573 1,483,561
Total liabilities and stockholders’ equity $ 5,556,526 $ 4,886,704