Balance Sheet

Financial Highlights
2020 FQ2 YTD
6/30/2020
2019 FY
12/31/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
Assets ($000)
Total Equity Instruments 131,003 116,610 80,978 61,593 26,891
Total Fixed Maturities 1,015,291 884,861 862,345 762,855 494,516
Total Securities 1,146,294 1,001,471 943,323 826,150 522,914
Investments 1,210,243 1,083,311 1,023,277 901,250 528,647
Cash and Cash Equivalents 229,631 215,469 112,679 229,556 150,688
Cash and Investments 1,439,874 1,298,780 1,135,956 1,130,806 679,335
Accrued Investment Income 5,815 5,901 6,017 5,577 3,735
Reinsurance Assets 985,643 820,170 843,883 597,678 156,592
Premiums Receivable 113,288 86,568 95,816 75,275 38,883
VOBA and Acquired Insurance Portfolios NA NA NA NA NA
Deferred Policy Acquisition Costs NA NA NA 103,882 65,473
Deferred Acquisition Costs 120,182 104,572 105,582 103,882 65,473
Total Intangible Assets 96,943 99,124 104,396 118,316 26,625
Memo: Consolidated VIE Assets NA NA NA NA NA
Fixed Assets 37,949 34,326 17,137 17,291 17,860
Total Other Assets 30,738 17,777 12,641 11,096 11,183
Separate Account Assets 0 0 0 0 0
Total Assets 2,830,432 2,467,218 2,321,428 2,059,921 999,686
Liabilities ($000)
P&C Loss and LAE Reserves 683,471 760,357 661,203 482,232 140,855
L&H Policy Reserves 0 0 0 0 0
Medical Claim Liabilities 0 0 0 0 0
Unearned Premiums Reserve 760,131 674,055 627,313 555,873 372,223
Other Policy Reserves 0 0 0 0 0
Total Policy Reserves 1,443,602 1,434,412 1,288,516 1,038,105 513,078
Total Reinsurance Liabilities 460,807 166,131 175,272 149,117 99,891
Premiums Payable NA NA NA NA NA
Repurchase Agreements 0 0 0 0 0
Other Senior Debt 160,709 159,290 160,118 161,364 54,175
Senior Debt 160,709 159,290 160,118 161,364 54,175
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 160,709 159,290 160,118 161,364 54,175
Memo: Consolidated VIE Liabilities NA NA NA NA NA
Total Other Liabilities 215,797 183,520 157,153 174,210 91,215
Separate Account Liabilities 0 0 0 0 0
Total Liabilities 2,280,915 1,943,353 1,781,059 1,522,796 758,359
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 ($000)
TARP Preferred Equity 0 0 0 0 0
Other Preferred Equity 0 0 0 0 0
Total Preferred Equity 0 0 0 0 0
Common Equity 528,267 503,138 520,230 537,125 241,327
Equity Attributable to Parent Company 528,267 503,138 520,230 537,125 241,327
Noncontrolling Interests 21,250 20,727 20,139 0 0
Total Equity 549,517 523,865 540,369 537,125 241,327
Net Unrealized Gain 29,527 11,319 (9,030) 9,221 822
Cumulative Foreign Currency Translation 0 0 0 0 0
Minimum Pension Fund Liability 0 0 0 0 0
Fair Value of Effective Hedges 0 0 0 0 0
Tot Acc Other Comprehensive Inc 29,527 11,319 (9,030) 9,221 822
Total Equity, excl AOCI 519,990 512,546 549,399 527,904 240,505
Equity before Unrealized Gains 519,990 512,546 549,399 527,904 240,505
Basic Book Value per Share($) 12.27 11.69 12.10 12.56 11.15
Book Value per Share before Unrealized Gains($) 11.58 11.43 12.31 12.35 11.11
Book Value, excl AOCI($) 11.58 11.43 12.31 12.35 11.11
Shares Issued(actual) 43,216,919 43,056,310 43,029,845 42,965,137 21,858,697
Treasury Shares(actual) 212,083 212,083 212,083 212,083 212,083
Common Shares Outstanding(actual) 43,068,379 43,028,074 42,984,578 42,753,054 21,646,614
Balance Sheet Ratios (%)
Equity Securities/ Assets 4.63 4.73 3.49 2.99 2.69
Fixed Maturities/ Cash & Investments 70.51 68.13 75.91 67.46 72.79
Equity Securities/ Cash & Investments 9.10 8.98 7.13 5.45 3.96
Cash and Investments/ Assets 50.87 52.64 48.93 54.90 67.95
Total Equity/ Total Assets 19.41 21.23 23.28 26.08 24.14
Tangible Equity/ Tangible Assets 16.56 17.94 19.66 21.57 22.06
DAC/ Equity before Unrealized Gains 23.11 20.40 19.22 19.68 27.22
Debt plus Rdm Pfd/ Equity(x) 0.29 0.30 0.30 0.30 0.22
Total Debt/ Total Equity(x) 0.29 0.30 0.30 0.30 0.22
Debt/ Book Capitalization 22.63 23.32 22.86 23.10 18.33
Reserves/ Equity(x) 2.63 2.74 2.38 1.93 2.13
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.