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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows From Operating Activities  
Net income (loss)$ (16,880)$ 35,967
Adjustments to reconcile net income to net cash provided by operating activities  
Net accretion of bond premium7,7103,500
Depreciation and amortization2,5592,163
Stock-based compensation expense1,3841,295
Realized investment (gains) losses(4,996)(6,394)
Net cash flows from trading investments(1,604)(835)
Deferred income tax expense (benefit)(11,901)2,424
Changes in:  
Accrued investment income899(824)
Premiums receivable(25,706)(10,202)
Deferred policy acquisition costs(2,239)(2,572)
Reinsurance receivables(7,527)(12,061)
Prepaid reinsurance premiums574(4)
Income taxes receivable(6,471)7,772
Other assets(1,162)3,729
Future policy benefits and losses, claims and loss settlement expenses68,13931,014
Unearned premiums27,70110,552
Accrued expenses and other liabilities21,795(6,174)
Deferred income taxes158(3,119)
Other, net2,153110
Total adjustments71,46620,374
Net cash provided by operating activities54,58656,341
Cash Flows From Investing Activities  
Proceeds from sale of available-for-sale investments21,8713,402
Proceeds from call and maturity of held-to-maturity investments1,0502,553
Proceeds from call and maturity of available-for-sale investments438,472323,859
Proceeds from short term and other investments4,5834,385
Purchase of available-for-sale investments(432,892)(439,755)
Purchase of short-term and other investments(2,907)(4,708)
Change in securities lending collateral0(77,845)
Net purchases and sales of property and equipment(6,766)(1,509)
Acquisition of property and casualty company, net of cash acquired(171,394)0
Net cash used in investing activities(147,983)(189,618)
Cash Flows From Financing Activities  
Deposits to investment and universal life contracts128,257111,621
Withdrawals from investment and universal life contracts(86,507)(81,936)
Borrowings of short-term debt79,9000
Repayment of short-term debt(29,900)0
Change in securities lending payable077,845
Payment of cash dividends(11,682)(11,845)
Repurchase of common stock(12,396)(5,507)
Issuance of common stock13954
Tax benefit from issuance of common stock65
Net cash provided by financing activities67,81790,237
Net Change in Cash and Cash Equivalents(25,580)(43,040)
Cash and Cash Equivalents at Beginning of Period180,057190,852
Cash and Cash Equivalents at End of Period$ 154,477$ 147,812