Balance Sheet

Financial Highlights
3/31/2017
3/31/2018
6/30/2018
12/31/2018
Assets ($000)
Total Equity Instruments 28,470 75,552 81,102 79,219
Total Fixed Maturities 496,124 787,145 848,882 862,345
Total Securities 526,163 864,300 932,227 943,323
Investments 541,106 892,444 973,995 1,023,277
Cash and Cash Equivalents 124,219 216,703 208,675 112,679
Cash and Investments 665,325 1,109,147 1,182,670 1,135,956
Accrued Investment Income 3,645 5,488 6,181 6,017
Reinsurance Assets 128,533 624,507 765,470 843,883
Premiums Receivable 37,674 79,296 116,894 95,816
VOBA and Acquired Insurance Portfolios NA NA NA NA
Deferred Policy Acquisition Costs 63,806 108,093 109,601 105,582
Deferred Acquisition Costs 63,806 108,093 109,601 105,582
Total Intangible Assets 14,254 108,491 107,126 104,396
Memo: Consolidated VIE Assets NA NA NA NA
Fixed Assets 17,453 17,557 17,742 17,137
Total Other Assets 20,195 13,814 11,978 12,641
Separate Account Assets 0 0 0 0
Total Assets 950,885 2,066,393 2,317,662 2,321,428
Liabilities ($000)
P&C Loss and LAE Reserves 141,102 544,249 432,431 661,203
L&H Policy Reserves 0 0 0 0
Medical Claim Liabilities 0 0 0 0
Unearned Premiums Reserve 359,000 556,540 651,561 627,313
Other Policy Reserves 0 0 0 0
Total Policy Reserves 500,102 1,100,789 1,083,992 1,288,516
Total Reinsurance Liabilities 56,960 86,079 374,499 175,272
Premiums Payable NA NA NA NA
Repurchase Agreements 0 0 0 0
Other Senior Debt 53,822 161,009 160,718 160,118
Senior Debt 53,822 161,009 160,718 160,118
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 53,822 161,009 160,718 160,118
Memo: Consolidated VIE Liabilities NA NA NA NA
Total Other Liabilities 92,894 183,436 153,719 157,153
Separate Account Liabilities 0 0 0 0
Total Liabilities 703,778 1,531,313 1,772,928 1,781,059
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 ($000)
TARP Preferred Equity 0 0 0 0
Other Preferred Equity 0 0 0 0
Total Preferred Equity 0 0 0 0
Common Equity 247,107 535,080 544,734 520,230
Equity Attributable to Parent Company 247,107 535,080 544,734 520,230
Noncontrolling Interests 0 0 0 20,139
Total Equity 247,107 535,080 544,734 540,369
Net Unrealized Gain 3,362 (8,451) (11,493) (9,030)
Cumulative Foreign Currency Translation 0 0 0 0
Minimum Pension Fund Liability 0 0 0 0
Fair Value of Effective Hedges 0 0 0 0
Tot Acc Other Comprehensive Inc 3,362 (8,451) (11,493) (9,030)
Total Equity, excl AOCI 243,745 543,531 556,227 549,399
Equity before Unrealized Gains 243,745 543,531 556,227 549,399
Basic Book Value per Share($) 11.37 12.52 12.72 12.10
Book Value per Share before Unrealized Gains($) 11.22 12.72 12.99 12.31
Book Value, excl AOCI($) 11.22 12.72 12.99 12.31
Shares Issued(actual) 21,938,691 42,958,020 43,034,270 43,029,845
Treasury Shares(actual) 212,083 212,083 212,083 212,083
Common Shares Outstanding(actual) 21,726,608 42,745,937 42,822,187 42,984,578
Balance Sheet Ratios (%)
Equity Securities/ Assets 2.99 3.66 3.50 3.41
Fixed Maturities/ Cash & Investments 74.57 70.97 71.78 75.91
Equity Securities/ Cash & Investments 4.28 6.81 6.86 6.97
Cash and Investments/ Assets 69.97 53.68 51.03 48.93
Total Equity/ Total Assets 25.99 25.89 23.50 23.28
Tangible Equity/ Tangible Assets 24.86 21.79 19.80 19.66
DAC/ Equity before Unrealized Gains 26.18 19.89 19.70 19.22
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 23.13 22.78 22.86
Reserves/ Equity(x) 2.02 2.06 1.99 2.38
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.