Balance Sheet

Financial Highlights
2019 FQ3 YTD
9/30/2019
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 104,629 80,978 61,593 26,891 49,454
Total Fixed Maturities 921,212 862,345 762,855 494,516 396,698
Total Securities 1,025,841 943,323 826,150 522,914 447,504
Investments 1,110,714 1,023,277 901,250 528,647 452,714
Cash and Cash Equivalents 270,563 112,679 229,556 150,688 84,786
Cash and Investments 1,381,277 1,135,956 1,130,806 679,335 537,500
Accrued Investment Income 6,037 6,017 5,577 3,735 2,915
Reinsurance Assets 1,015,922 843,883 597,678 156,592 82,360
Premiums Receivable 86,365 95,816 75,275 38,883 41,170
VOBA and Acquired Insurance Portfolios NA NA NA NA NA
Deferred Policy Acquisition Costs 115,158 105,582 103,882 65,473 46,732
Deferred Acquisition Costs 115,158 105,582 103,882 65,473 46,732
Total Intangible Assets 100,448 104,396 118,316 26,625 3,413
Memo: Consolidated VIE Assets NA NA NA NA NA
Fixed Assets 30,447 17,137 17,291 17,860 17,135
Total Other Assets 19,017 12,641 11,096 11,183 8,796
Separate Account Assets 0 0 0 0 0
Total Assets 2,754,671 2,321,428 2,059,921 999,686 740,021
Liabilities ($000)
P&C Loss and LAE Reserves 824,147 661,203 482,232 140,855 76,792
L&H Policy Reserves 0 0 0 0 0
Medical Claim Liabilities 0 0 0 0 0
Unearned Premiums Reserve 726,297 627,313 555,873 372,223 304,653
Other Policy Reserves 0 0 0 0 0
Total Policy Reserves 1,550,444 1,288,516 1,038,105 513,078 381,445
Total Reinsurance Liabilities 321,994 175,272 149,117 99,891 64,542
Premiums Payable NA NA NA NA NA
Repurchase Agreements 0 0 0 0 0
Other Senior Debt 160,267 160,118 161,364 54,175 12,353
Senior Debt 160,267 160,118 161,364 54,175 12,353
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 160,267 160,118 161,364 54,175 12,353
Memo: Consolidated VIE Liabilities NA NA NA NA NA
Total Other Liabilities 185,448 157,153 174,210 91,215 42,470
Separate Account Liabilities 0 0 0 0 0
Total Liabilities 2,218,153 1,781,059 1,522,796 758,359 500,810
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 ($000)
TARP Preferred Equity 0 0 0 0 0
Other Preferred Equity 0 0 0 0 0
Total Preferred Equity 0 0 0 0 0
Common Equity 515,842 520,230 537,125 241,327 239,211
Equity Attributable to Parent Company 515,842 520,230 537,125 241,327 239,211
Noncontrolling Interests 20,676 20,139 0 0 0
Total Equity 536,518 540,369 537,125 241,327 239,211
Net Unrealized Gain 13,714 (9,030) 9,221 822 1,620
Cumulative Foreign Currency Translation 0 0 0 0 0
Minimum Pension Fund Liability 0 0 0 0 0
Fair Value of Effective Hedges 0 0 0 0 0
Tot Acc Other Comprehensive Inc 13,714 (9,030) 9,221 822 1,620
Total Equity, excl AOCI 522,804 549,399 527,904 240,505 237,591
Equity before Unrealized Gains 522,804 549,399 527,904 240,505 237,591
Basic Book Value per Share($) 11.93 12.10 12.56 11.15 11.11
Book Value per Share before Unrealized Gains($) 11.61 12.31 12.35 11.11 11.04
Book Value, excl AOCI($) 11.61 12.31 12.35 11.11 11.04
Shares Issued(actual) 43,056,310 43,029,845 42,965,137 21,858,697 21,736,431
Treasury Shares(actual) 212,083 212,083 212,083 212,083 212,083
Common Shares Outstanding(actual) 43,234,488 42,984,578 42,753,054 21,646,614 21,524,348
Balance Sheet Ratios (%)
Equity Securities/ Assets 3.80 3.49 2.99 2.69 6.68
Fixed Maturities/ Cash & Investments 66.69 75.91 67.46 72.79 73.80
Equity Securities/ Cash & Investments 7.57 7.13 5.45 3.96 9.20
Cash and Investments/ Assets 50.14 48.93 54.90 67.95 72.63
Total Equity/ Total Assets 19.48 23.28 26.08 24.14 32.32
Tangible Equity/ Tangible Assets 16.43 19.66 21.57 22.06 32.01
DAC/ Equity before Unrealized Gains 22.03 19.22 19.68 27.22 19.67
Debt plus Rdm Pfd/ Equity(x) 0.30 0.30 0.30 0.22 0.05
Total Debt/ Total Equity(x) 0.30 0.30 0.30 0.22 0.05
Debt/ Book Capitalization 23 22.86 23.10 18.33 4.91
Reserves/ Equity(x) 2.89 2.38 1.93 2.13 1.59
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.