Balance Sheet
Financial Highlights
2019 FQ2 YTD
6/30/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
2015 FY
12/31/2015
Assets ($000)
Total Equity Instruments 74,555 66,422 201,763 119,945 145,498
Total Fixed Maturities 737,148 592,645 521,853 491,904 437,184
Total Securities 811,703 659,067 723,616 611,849 582,682
Investments 873,455 728,598 799,455 689,818 660,360
Cash and Cash Equivalents 80,772 163,996 64,680 62,976 73,538
Cash and Investments 954,227 892,594 864,135 752,794 733,898
Accrued Investment Income NA 4,358 4,159 3,882 3,989
Reinsurance Assets 410,445 398,531 322,909 257,698 219,064
Premiums Receivable 111,573 102,972 87,551 64,984 66,522
VOBA and Acquired Insurance Portfolios 0 0 0 0 0
Deferred Policy Acquisition Costs NA 6,568 5,608 1,172 1,443
Deferred Acquisition Costs NA 6,568 5,608 1,172 1,443
Total Intangible Assets 0 0 3,152 3,152 3,152
Memo: Consolidated VIE Assets NA NA NA NA NA
Fixed Assets NA 46,645 47,317 47,225 46,144
Total Other Assets 94,781 38,463 22,185 23,230 11,559
Separate Account Assets 0 0 0 0 0
Total Assets 1,571,026 1,490,131 1,357,016 1,154,137 1,085,771
Liabilities ($000)
P&C Loss and LAE Reserves 933,463 865,339 680,274 576,330 513,596
L&H Policy Reserves 0 0 0 0 0
Medical Claim Liabilities 0 0 0 0 0
Unearned Premiums Reserve 79,429 71,625 53,085 21,694 25,291
Other Policy Reserves 0 0 0 0 0
Total Policy Reserves 1,012,892 936,964 733,359 598,024 538,887
Total Reinsurance Liabilities 59,313 66,632 62,308 43,150 47,565
Premiums Payable NA NA NA NA NA
Repurchase Agreements 0 0 0 0 0
Other Senior Debt 20,000 20,000 20,000 20,000 20,000
Senior Debt 20,000 20,000 20,000 20,000 20,000
Trust Preferred (FAS 150) 0 0 0 0 0
Other Subordinated Debt 0 0 0 0 0
Total Subordinated Debt 0 0 0 0 0
Redeemable Financial Instruments (FAS 150) 0 0 0 0 0
Total Debt 20,000 20,000 20,000 20,000 20,000
Memo: Consolidated VIE Liabilities NA NA NA NA NA
Total Other Liabilities 111,405 110,453 122,538 88,618 84,821
Separate Account Liabilities 0 0 0 0 0
Total Liabilities 1,203,610 1,134,049 938,205 749,792 691,273
Mezzanine ($000)
Redeemable Preferred 0 0 0 0 0
Trust Preferred Securities 0 0 0 0 0
Total Minority Interest 0 0 0 0 0
Other Mezzanine Items 0 0 0 0 0
Total Mezzanine Level Items 0 0 0 0 0
Equity ($000)
TARP Preferred Equity 0 0 0 0 0
Other Preferred Equity 0 0 0 0 0
Total Preferred Equity 0 0 0 0 0
Common Equity 367,416 356,082 418,811 404,345 394,498
Equity Attributable to Parent Company 367,416 356,082 418,811 404,345 394,498
Noncontrolling Interests 0 0 0 0 0
Total Equity 367,416 356,082 418,811 404,345 394,498
Net Unrealized Gain 8,765 (6,208) 46,700 34,051 38,924
Cumulative Foreign Currency Translation (548) (1,139) (309) (831) (1,066)
Minimum Pension Fund Liability 0 0 0 0 0
Fair Value of Effective Hedges 0 0 0 0 0
Tot Acc Other Comprehensive Inc 8,217 (7,347) 46,391 33,220 37,858
Total Equity, excl AOCI 359,199 363,429 372,420 371,125 356,640
Equity before Unrealized Gains 358,651 362,290 372,111 370,294 355,574
Basic Book Value per Share($) 25.26 23.95 27.83 26.81 26.25
Book Value per Share before Unrealized Gains($) 24.66 24.37 24.73 24.55 23.66
Book Value, excl AOCI($) 24.70 24.44 24.75 24.60 23.73
Shares Issued(actual) NA NA NA NA NA
Treasury Shares(actual) NA NA NA NA NA
Common Shares Outstanding(actual) 14,544,522 14,869,261 15,046,627 15,084,009 15,026,050
Balance Sheet Ratios (%)
Equity Securities/ Assets 4.75 4.46 14.87 10.39 13.40
Fixed Maturities/ Cash & Investments 77.25 66.40 60.39 65.34 59.57
Equity Securities/ Cash & Investments 7.81 7.44 23.35 15.93 19.83
Cash and Investments/ Assets 60.74 59.90 63.68 65.23 67.59
Total Equity/ Total Assets 23.39 23.90 30.86 35.03 36.33
Tangible Equity/ Tangible Assets 23.39 23.90 30.70 34.86 36.15
DAC/ Equity before Unrealized Gains NA 1.81 1.51 0.32 0.41
Debt plus Rdm Pfd/ Equity(x) 0.05 0.06 0.05 0.05 0.05
Total Debt/ Total Equity(x) 0.05 0.06 0.05 0.05 0.05
Debt/ Book Capitalization 5.16 5.32 4.56 4.71 4.83
Reserves/ Equity(x) 2.76 2.63 1.75 1.48 1.37
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.