v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Investment portfolio:    
Fixed income available-for-sale $ 5,701,058 $ 5,791,231
Equity securities, at fair value (cost 2026 - $16,360; 2025 - $16,286) 15,274 15,322
Other invested assets, at cost 1,109 1,109
Total investment portfolio 5,717,441 5,807,662
Cash and cash equivalents 207,277 368,989
Restricted cash and cash equivalents 7,819 6,525
Accrued investment income 57,594 58,009
Reinsurance recoverable on loss reserves 76,144 65,055
Reinsurance recoverable on paid losses 5,437 4,386
Premiums receivable 69,694 58,184
Home office and equipment, net 31,604 32,454
Deferred insurance policy acquisition costs 7,473 8,377
Deferred income taxes, net 131,243 18,512
Other assets 215,256 211,333
Total Assets 6,526,982 6,639,486
Liabilities:    
Loss reserves 492,001 474,884
Unearned premiums 84,511 93,026
Senior notes 646,874 646,138
Federal tax credits payable 162,624 135,344
Other liabilities 127,613 142,543
Total Liabilities 1,513,623 1,491,935
Contingencies
Shareholders’ equity:    
Common stock 206,603 219,367
Paid-in capital 1,801,258 1,812,463
Accumulated other comprehensive income (loss), net of tax (168,823) (134,394)
Retained earnings 3,174,321 3,250,115
Total Shareholders’ Equity 5,013,359 5,147,551
Total Liabilities and Shareholders’ Equity 6,526,982 6,639,486
Fixed income    
Investment portfolio:    
Fixed income available-for-sale 5,436,128 5,489,945
Short-Term Investments    
Investment portfolio:    
Fixed income available-for-sale $ 264,930 $ 301,286