• Filing Date: 2013-03-14
  • Form Type: 10-K
  • Description: Annual report
v2.4.0.6
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Assets    
Fixed-maturity securities, available-for-sale, at fair value $ 35,953 $ 35,788
Equity securities, available-for-sale, at fair value 8,876 4,061
Time deposits   12,427
Other investments 16,087 6,483
Total investments 60,916 58,759
Cash and cash equivalents 230,214 100,355
Accrued interest and dividends receivable 375 408
Premiums and reinsurance receivable 10,642 13,909
Prepaid reinsurance premiums 9,112 14,169
Deferred policy acquisition costs 10,032 12,321
Property and equipment, net 10,853 10,499
Goodwill   161
Deferred income taxes 3,848 2,368
Other assets 2,296 1,869
Total assets 338,288 214,818
Liabilities and Stockholders' Equity    
Losses and loss adjustment expenses 41,168 27,424
Unearned premiums 154,249 108,677
Advance premiums 4,029 2,132
Assumed reinsurance balances payable 1,377  
Accrued expenses 3,041 3,478
Dividends payable 42 218
Income taxes payable 8,813 4,956
Other liabilities 4,316 4,103
Total liabilities 217,035 150,988
Stockholders' equity:    
Preferred stock      
Common stock, (no par value, 40,000,000 shares authorized, 10,877,537 and 6,202,485 shares issued and outstanding in 2012 and 2011, respectively)      
Additional paid-in capital 63,875 29,636
Retained income 55,758 33,986
Accumulated other comprehensive income 1,620 208
Total stockholders' equity 121,253 63,830
Total liabilities and stockholders' equity 338,288 214,818
7% Series A Cumulative Convertible Preferred Stock
   
Stockholders' equity:    
Preferred stock