v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Available-for-sale, at fair value (amortized cost of $3,760,876 and allowance for credit losses of $463 at 6/30/26) (amortized cost of $3,642,362 and allowance for credit losses of $828 at 12/31/25) $ 3,617,942 $ 3,533,336
Equity securities, at fair value (cost - $530,730 at 6/30/26 and $534,311 at 12/31/25) 959,377 898,876
Short-term investments, at cost which approximates fair value 206,119 120,562
Other invested assets 58,661 59,281
Cash 32,101 51,565
Total investments and cash 4,874,200 4,663,620
Accrued investment income 32,117 30,026
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $21,044 at 6/30/26 and $23,673 at 12/31/25 267,018 212,226
Ceded unearned premium 122,327 124,669
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $10,953 at 6/30/26 and $11,107 at 12/31/25 718,487 746,798
Deferred policy acquisition costs 188,857 172,648
Property and equipment, at cost, net of accumulated depreciation of $88,555 at 6/30/26 and $84,459 at 12/31/25 40,712 40,733
Investment in unconsolidated investees 57,872 53,521
Goodwill and intangibles 53,562 53,562
Other assets 57,853 63,683
TOTAL ASSETS 6,413,005 6,161,486
Liabilities    
Unpaid losses and settlement expenses 2,937,211 2,886,819
Unearned premiums 1,063,167 991,636
Reinsurance balances payable 25,013 40,580
Funds held 131,881 127,242
Income taxes-current 1,648 29,724
Income taxes-deferred 25,795 21,769
Short-term debt   100,000
Long-term debt 296,968  
Accrued expenses 92,466 128,597
Other liabilities 86,741 56,923
TOTAL LIABILITIES 4,660,890 4,383,290
Shareholders' Equity    
Common stock ($0.01 par value) (Shares authorized - 400,000,000) (137,868,035 shares issued, 91,772,634 shares outstanding at 6/30/26) (137,739,079 shares issued, 91,878,651 shares outstanding at 12/31/25) 1,378 1,377
Paid-in capital 382,909 376,679
Accumulated other comprehensive earnings (loss) (115,754) (88,074)
Retained earnings 1,888,627 1,881,213
Deferred compensation 13,152 14,082
Less: Treasury shares, at cost (46,095,401 shares at 6/30/26 and 45,860,428 shares at 12/31/25) (418,197) (407,081)
TOTAL SHAREHOLDERS' EQUITY 1,752,115 1,778,196
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 6,413,005 $ 6,161,486