• Filing Date: 2018-03-07
  • Form Type: 10-K
  • Description: Annual report
v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Assets    
Fixed-maturity securities, available for sale, at fair value (amortized cost: $235,830 and $167,231, respectively) $ 237,484 $ 166,248
Equity securities, available for sale, at fair value (cost: $53,132 and $47,750, respectively) 58,911 53,035
Equity securities, trading, at fair value (cost: $953 and $0, respectively) 1,045 0
Limited partnership investments, at equity 23,184 29,263
Investment in unconsolidated joint venture, at equity 1,304 2,102
Real estate investments (Note 4 - Consolidated Variable Interest Entity) 58,358 48,086
Total investments 380,286 298,734
Cash and cash equivalents (Note 4 - Consolidated Variable Interest Entity) 255,884 280,531
Accrued interest and dividends receivable 1,983 1,654
Income taxes receivable 16,192 2,811
Premiums receivable 17,807 17,276
Prepaid reinsurance premiums 22,286 24,554
Reinsurance recoverable:    
Paid losses and loss adjustment expenses 2,344  
Unpaid losses and loss adjustment expenses 100,760  
Deferred policy acquisition costs 16,712 16,639
Property and equipment, net 12,465 11,374
Intangible assets, net 4,995 4,899
Deferred income taxes, net   250
Other assets (Note 4 - Consolidated Variable Interest Entity) 10,550 11,342
Total assets 842,264 670,064
Liabilities and Stockholders' Equity    
Losses and loss adjustment expenses 198,578 70,492
Unearned premiums 164,896 175,803
Advance premiums 4,948 4,651
Assumed reinsurance balances payable 15 3,294
Accrued expenses (Note 4 - Consolidated Variable Interest Entity) 6,035 6,513
Reinsurance recovered in advance on unpaid losses 13,885  
Deferred income taxes, net 1,890  
Long-term debt 237,835 138,863
Other liabilities (Note 4 - Consolidated Variable Interest Entity) 20,207 26,702
Total liabilities 648,289 426,318
Commitments and contingencies (Note 22)
Stockholders' equity:    
Preferred stock
Common stock (no par value, 40,000,000 shares authorized, 8,762,416 and 9,662,761 shares issued and outstanding in 2017 and 2016, respectively) 0 0
Additional paid-in capital   8,139
Retained income 189,409 232,964
Accumulated other comprehensive income, net of taxes 4,566 2,643
Total stockholders' equity 193,975 243,746
Total liabilities and stockholders' equity (or members' capital) 842,264 670,064
7% Series A Cumulative Convertible Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock