v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Fixed maturity securities (amortized cost $5,802,102; $5,449,726) $ 5,788,544 $ 5,430,251
Equity securities (cost $860,929; $728,460) 974,212 812,787
Short-term investments (cost $368,338; $336,978) 368,357 336,992
Total investments 7,131,113 6,580,030
Cash 1,700,830 1,315,574
Receivables:    
Premiums 828,516 751,554
Allowance for credit losses on premiums receivable (5,800) (6,000)
Premiums receivable, net of allowance for credit losses 822,716 745,554
Accrued investment income 74,730 73,004
Other 78,067 86,508
Total receivables 975,513 905,066
Reinsurance recoverables (net of allowance for credit losses $1; $39) 44,249 109,672
Deferred policy acquisition costs 378,014 359,724
Fixed assets (net of accumulated depreciation $376,010; $345,930) 151,109 146,880
Operating lease right-of-use assets 18,977 12,125
Deferred income taxes 23,861 30,637
Goodwill 42,796 42,796
Other intangible assets, net 6,399 6,827
Other assets 69,504 51,338
Total assets 10,542,365 9,560,669
Liabilities    
Loss and loss adjustment expense reserves 3,674,700 3,633,338
Unearned premiums 2,414,836 2,255,935
Notes payable 943,752 574,527
Accounts payable and accrued expenses 422,764 448,703
Operating lease liabilities 18,376 12,328
Current income taxes 2,947 30,770
Other liabilities 228,965 187,793
Total liabilities 7,706,340 7,143,394
Commitments and contingencies
Shareholders’ equity:    
Common stock without par value or stated value: Authorized 70,000 shares; issued and outstanding 55,389; 55,389 99,699 99,699
Retained earnings 2,736,326 2,317,576
Total shareholders’ equity 2,836,025 2,417,275
Total liabilities and shareholders’ equity $ 10,542,365 $ 9,560,669