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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash Flows From Operating Activities    
Net income $ 19,184 $ 5,810
Adjustments to reconcile net income to net cash provided by operating activities    
Net accretion of bond premium 3,520 1,705
Depreciation and amortization 2,285 706
Stock-based compensation expense 396 489
Net realized investment gains (2,794) (2,653)
Net cash flows from trading investments (1,343) (205)
Deferred income tax expense 5,011 117
Changes in:    
Accrued investment income (344) 400
Premiums receivable (14,560) (8,447)
Deferred policy acquisition costs 1,526 (1,719)
Reinsurance receivables (23,199) 830
Prepaid reinsurance premiums 2,650 (135)
Income taxes receivable 3,926 1,018
Other assets 2,691 6,355
Future policy benefits and losses, claims and loss settlement expenses 20,596 7,146
Unearned premiums 15,228 9,090
Accrued expenses and other liabilities 5,721 11,507
Deferred income taxes (3,409) 2
Other, net (1,200) (747)
Total adjustments 16,701 25,459
Net cash provided by operating activities 35,885 31,269
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 3,000 4,847
Proceeds from call and maturity of held-to-maturity investments 75 486
Proceeds from call and maturity of available-for-sale investments 149,285 197,447
Proceeds from short-term and other investments 2,590 1,548
Purchase of available-for-sale investments (252,345) (154,923)
Purchase of short-term and other investments (2,950) (454)
Net purchases and sales of property and equipment (893) (100)
Acquisition of property and casualty company, net of cash acquired 0 (172,620)
Net cash used in investing activities (101,238) (123,769)
Cash Flows From Financing Activities    
Deposits to investment and universal life contracts 40,390 31,242
Withdrawals from investment and universal life contracts (33,743) (28,984)
Borrowings of short-term debt 0 79,900
Repayment of Trust Preferred Securities (8,047) 0
Payment of cash dividends (3,826) (3,929)
Issuance of common stock 43 0
Tax impact from issuance of common stock 9 (14)
Net cash provided by (used in) financing activities (5,174) 78,215
Net Change in Cash and Cash Equivalents (70,527) (14,285)
Cash and Cash Equivalents at Beginning of Period 144,527 180,057
Cash and Cash Equivalents at End of Period $ 74,000 $ 165,772