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Balance Sheet

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Financial Highlights
3/31/2017
12/31/2017
3/31/2018
6/30/2018
Assets ($000)
Total Equity Instruments 28,470 61,593 75,552 81,102
Total Fixed Maturities 496,124 762,855 787,145 848,882
Total Securities 526,163 826,150 864,300 932,227
Investments 541,106 901,250 892,444 973,995
Cash and Cash Equivalents 124,219 229,556 216,703 208,675
Cash and Investments 665,325 1,130,806 1,109,147 1,182,670
Accrued Investment Income 3,645 5,577 5,488 6,181
Reinsurance Assets 128,533 597,678 624,507 765,470
Premiums Receivable 37,674 75,275 79,296 116,894
VOBA and Acquired Insurance Portfolios NA NA NA NA
Deferred Policy Acquisition Costs 63,806 103,882 108,093 109,601
Deferred Acquisition Costs 63,806 103,882 108,093 109,601
Total Intangible Assets 14,254 118,316 108,491 107,126
Memo: Consolidated VIE Assets NA NA NA NA
Fixed Assets 17,453 17,291 17,557 17,742
Total Other Assets 20,195 11,096 13,814 11,978
Separate Account Assets 0 0 0 0
Total Assets 950,885 2,059,921 2,066,393 2,317,662
Liabilities ($000)
P&C Loss and LAE Reserves 141,102 482,232 544,249 432,431
L&H Policy Reserves 0 0 0 0
Medical Claim Liabilities 0 0 0 0
Unearned Premiums Reserve 359,000 555,873 556,540 651,561
Other Policy Reserves 0 0 0 0
Total Policy Reserves 500,102 1,038,105 1,100,789 1,083,992
Total Reinsurance Liabilities 56,960 149,117 86,079 374,499
Premiums Payable NA NA NA NA
Repurchase Agreements 0 0 0 0
Other Senior Debt 53,822 161,364 161,009 160,718
Senior Debt 53,822 161,364 161,009 160,718
Trust Preferred (FAS 150) 0 0 0 0
Other Subordinated Debt 0 0 0 0
Total Subordinated Debt 0 0 0 0
Redeemable Financial Instruments (FAS 150) 0 0 0 0
Total Debt 53,822 161,364 161,009 160,718
Memo: Consolidated VIE Liabilities NA NA NA NA
Total Other Liabilities 92,894 174,210 183,436 153,719
Separate Account Liabilities 0 0 0 0
Total Liabilities 703,778 1,522,796 1,531,313 1,772,928
Mezzanine ($000)
Redeemable Preferred 0 0 0 0
Trust Preferred Securities 0 0 0 0
Total Minority Interest 0 0 0 0
Other Mezzanine Items 0 0 0 0
Total Mezzanine Level Items 0 0 0 0
Equity ($000)
TARP Preferred Equity 0 0 0 0
Other Preferred Equity 0 0 0 0
Total Preferred Equity 0 0 0 0
Common Equity 247,107 537,125 535,080 544,734
Equity Attributable to Parent Company 247,107 537,125 535,080 544,734
Noncontrolling Interests 0 0 0 0
Total Equity 247,107 537,125 535,080 544,734
Net Unrealized Gain 3,362 9,221 (8,451) (11,493)
Cumulative Foreign Currency Translation 0 0 0 0
Minimum Pension Fund Liability 0 0 0 0
Fair Value of Effective Hedges 0 0 0 0
Tot Acc Other Comprehensive Inc 3,362 9,221 (8,451) (11,493)
Total Equity, excl AOCI 243,745 527,904 543,531 556,227
Equity before Unrealized Gains 243,745 527,904 543,531 556,227
Basic Book Value per Share($) 11.37 12.56 12.52 12.72
Book Value per Share before Unrealized Gains($) 11.22 12.35 12.72 12.99
Book Value, excl AOCI($) 11.22 12.35 12.72 12.99
Shares Issued(actual) 21,938,691 42,965,137 42,958,020 43,034,270
Treasury Shares(actual) 212,083 212,083 212,083 212,083
Common Shares Outstanding(actual) 21,726,608 42,753,054 42,745,937 42,822,187
Balance Sheet Ratios (%)
Equity Securities/ Assets 2.99 2.99 3.66 3.50
Fixed Maturities/ Cash & Investments 74.57 67.46 70.97 71.78
Equity Securities/ Cash & Investments 4.28 5.45 6.81 6.86
Cash and Investments/ Assets 69.97 54.90 53.68 51.03
Total Equity/ Total Assets 25.99 26.08 25.89 23.50
Tangible Equity/ Tangible Assets 24.86 21.57 21.79 19.80
DAC/ Equity before Unrealized Gains 26.18 19.68 19.89 19.70
Debt plus Rdm Pfd/ Equity(x) 0.22 0.30 0.30 0.30
Total Debt/ Total Equity(x) 0.22 0.30 0.30 0.30
Debt/ Book Capitalization 17.89 23.10 23.13 22.78
Reserves/ Equity(x) 2.02 1.93 2.06 1.99
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.