v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Investments:    
Fixed maturities, available for sale, at fair value (amortized cost: $1,365,368 and $1,337,235, allowance for expected credit losses of $355 and $0) $ 1,328,594 $ 1,315,548
Equity securities, at fair value (cost: $189,372 and $201,591) 201,956 220,953
Other invested assets 154,036 151,020
Total investments 1,684,586 1,687,521
Cash and cash equivalents 67,918 73,901
Accounts receivable, net of allowance for expected credit losses of $890 and $802 332,530 320,187
Receivable for securities sold 527 4,269
Accrued investment income 11,702 12,169
Taxes recoverable 10,731  
Receivable from reinsurers related to paid loss and loss adjustment expenses 25,074 9,433
Receivable from reinsurers related to unpaid loss and loss adjustment expenses 150,659 149,441
Ceded unearned premiums 43,317 39,674
Deferred policy acquisition costs 112,755 111,791
Deferred income taxes 6,253 4,116
Equity and deposits in pools 5,081 4,197
Operating lease right-of-use-assets 9,773 11,861
Goodwill 17,093 17,093
Intangible assets 6,309 6,783
Other assets 18,976 18,672
Total assets 2,503,284 2,471,108
Liabilities    
Losses and loss adjustment expense reserves 808,264 761,739
Unearned premium reserves 664,746 654,803
Accounts payable and accrued liabilities 70,299 80,461
Payable for securities purchased 5,061 846
Payable to reinsurers 18,487 15,184
Taxes payable   3,903
Long-term debt 50,000 50,000
Operating lease liabilities 9,773 11,861
Total liabilities 1,626,630 1,578,797
Commitments and contingencies (Note 8)
Shareholders' equity    
Common stock: $0.01 par value; 30,000,000 shares authorized; 18,103,084 and 18,051,631 shares issued 181 181
Additional paid-in capital 238,435 235,693
Accumulated other comprehensive loss, net of taxes (28,771) (17,133)
Retained earnings 837,302 844,063
Treasury stock, at cost: 3,419,947 shares (170,493) (170,493)
Total shareholders' equity 876,654 892,311
Total liabilities and shareholders' equity $ 2,503,284 $ 2,471,108