v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
ASSETS    
Available-for-sale, at fair value (amortized cost of $3,892,806 and allowance for credit losses of $522 at 9/30/26) (amortized cost of $3,642,362 and allowance for credit losses of $828 at 12/31/25) $ 3,600,969 $ 3,533,336
Equity securities, at fair value (cost - $523,206 at 9/30/26 and $534,311 at 12/31/25) 948,319 898,876
Short-term investments, at cost which approximates fair value 254,273 120,562
Other invested assets 57,608 59,281
Cash 46,212 51,565
Total investments and cash 4,907,381 4,663,620
Accrued investment income 32,205 30,026
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $21,629 at 9/30/26 and $23,673 at 12/31/25 231,730 212,226
Ceded unearned premium 124,169 124,669
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $10,643 at 9/30/26 and $11,107 at 12/31/25 727,036 746,798
Deferred policy acquisition costs 191,393 172,648
Property and equipment, at cost, net of accumulated depreciation of $90,456 at 9/30/26 and $84,459 at 12/31/25 41,032 40,733
Investment in unconsolidated investees 54,455 53,521
Goodwill and intangibles 53,562 53,562
Income taxes-deferred 9,508  
Other assets 73,088 63,683
TOTAL ASSETS 6,445,559 6,161,486
Liabilities    
Unpaid losses and settlement expenses 2,997,555 2,886,819
Unearned premiums 1,069,378 991,636
Reinsurance balances payable 30,535 40,580
Funds held 140,441 127,242
Income taxes-current 1,842 29,724
Income taxes-deferred   21,769
Short-term debt   100,000
Long-term debt 297,044  
Accrued expenses 110,054 128,597
Other liabilities 102,537 56,923
TOTAL LIABILITIES 4,749,386 4,383,290
Shareholders' Equity    
Common stock ($0.01 par value) (Shares authorized - 400,000,000) (137,931,006 shares issued, 91,732,032 shares outstanding at 9/30/26) (137,739,079 shares issued, 91,878,651 shares outstanding at 12/31/25) 1,379 1,377
Paid-in capital 386,585 376,679
Accumulated other comprehensive earnings (loss) (233,563) (88,074)
Retained earnings 1,953,087 1,881,213
Deferred compensation 13,358 14,082
Less: Treasury shares, at cost (46,198,974 shares at 9/30/26 and 45,860,428 shares at 12/31/25) (424,673) (407,081)
TOTAL SHAREHOLDERS' EQUITY 1,696,173 1,778,196
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 6,445,559 $ 6,161,486