• Filing Date: 2020-03-06
  • Form Type: 10-K
  • Description: Annual report
v3.19.3.a.u2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Assets    
Fixed-maturity securities, available for sale, at fair value (amortized cost: $199,954 and $184,670, respectively) $ 202,839 $ 182,723
Equity securities, at fair value (cost: $31,863 and $45,671, respectively) 35,285 41,143
Short-term investments 491 66,479
Limited partnership investments, at equity 28,346 32,293
Investment in unconsolidated joint venture, at equity 762 845
Assets held for sale   9,810
Real estate investments 73,763 54,490
Total investments 341,486 387,783
Cash and cash equivalents 229,218 239,458
Restricted cash 700 700
Accrued interest and dividends receivable 1,616 1,792
Income taxes receivable 1,040 971
Premiums receivable 20,255 16,667
Prepaid reinsurance premiums 17,983 17,932
Reinsurance recoverable:    
Paid losses and loss adjustment expenses 16,155 11,151
Unpaid losses and loss adjustment expenses 116,523 112,760
Deferred policy acquisition costs 21,663 16,507
Property and equipment, net 14,698 13,338
Intangible assets, net 4,192 4,800
Other assets 17,080 9,004
Total assets 802,609 832,863
Liabilities and Stockholders’ Equity    
Losses and loss adjustment expenses 214,697 207,586
Unearned premiums 181,163 157,729
Advance premiums 5,589 6,192
Assumed reinsurance balances payable 76 14
Accrued expenses 10,059 6,483
Deferred income taxes, net 4,008 1,068
Revolving credit facility 9,750  
Long-term debt 163,695 250,150
Other liabilities 28,029 22,200
Total liabilities 617,066 651,422
Commitments and contingencies (Note 23)
Stockholders’ equity:    
Preferred stock
Common stock (no par value, 40,000,000 shares authorized, 7,764,564 and 8,356,730 shares issued and outstanding in 2019 and 2018, respectively)
Additional paid-in capital
Retained income 183,365 182,894
Accumulated other comprehensive income (loss) , net of taxes 2,178 (1,453)
Total stockholders’ equity 185,543 181,441
Total liabilities and stockholders’ equity 802,609 832,863
7% Series A Cumulative Convertible Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock
Series B Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock