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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows From Operating Activities    
Net income (loss) $ (12,104) $ 33,044
Adjustments to reconcile net income to net cash provided by operating activities    
Net accretion of bond premium 3,768 1,891
Depreciation and amortization 1,708 1,455
Stock-based compensation expense 939 878
Realized investment (gains) losses (3,777) (5,072)
Net cash flows from trading investments (2,104) 2,379
Deferred income tax expense (benefit) (7,571) 2,976
Changes in:    
Accrued investment income 507 (761)
Premiums receivable (29,226) (16,915)
Deferred policy acquisition costs (6,373) (4,614)
Reinsurance receivables (5,883) (7,374)
Prepaid reinsurance premiums (602) (86)
Income taxes receivable (4,029) 11,464
Other assets (806) 1,859
Future policy benefits and losses, claims and loss settlement expenses 52,813 12,659
Unearned premiums 29,542 16,881
Accrued expenses and other liabilities 25,493 (4,377)
Deferred income taxes (1,019) (2,325)
Other, net (486) (494)
Total adjustments 52,894 10,424
Net cash provided by operating activities 40,790 43,468
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 21,367 3,402
Proceeds from call and maturity of held-to-maturity investments 709 1,603
Proceeds from call and maturity of available-for-sale investments 316,235 192,888
Proceeds from short term and other investments 1,554 3,200
Purchase of available-for-sale investments (292,808) (277,962)
Purchase of short-term and other investments (1,706) (3,308)
Change in securities lending collateral 0 (75,013)
Net purchases and sales of property and equipment 3,486 (960)
Acquisition of property and casualty company, net of cash acquired (172,619) 0
Net cash used in investing activities (123,782) (156,150)
Cash Flows From Financing Activities    
Deposits to investment and universal life contracts 71,489 70,669
Withdrawals from investment and universal life contracts (57,263) (55,437)
Borrowings of short-term debt 79,900 0
Change in securities lending payable 0 75,013
Payment of cash dividends (7,840) (7,910)
Repurchase of common stock (6,082) (3,689)
Issuance of common stock 139 23
Tax benefit from issuance of common stock 6 1
Net cash provided by financing activities 80,349 78,670
Net Change in Cash and Cash Equivalents (2,643) (34,012)
Cash and Cash Equivalents at Beginning of Period 180,057 190,852
Cash and Cash Equivalents at End of Period $ 177,414 $ 156,840