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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash Flows From Operating Activities    
Net income (loss) $ 42,630 $ (16,880)
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Net accretion of bond premium 10,909 7,710
Depreciation and amortization 5,989 2,559
Stock-based compensation expense 1,318 1,384
Net realized investment gains (4,658) (4,996)
Net cash flows from trading investments (337) (1,604)
Deferred income tax expense (benefit) 7,143 (11,901)
Changes in:    
Accrued investment income 990 899
Premiums receivable (31,244) (25,706)
Deferred policy acquisition costs (4,345) (2,239)
Reinsurance receivables (19,051) (7,527)
Prepaid reinsurance premiums 3,029 574
Income taxes receivable 10,959 (6,471)
Other assets 4,575 (1,162)
Future policy benefits and losses, claims and loss settlement expenses 50,429 68,139
Unearned premiums 35,347 27,701
Accrued expenses and other liabilities 17,856 21,795
Deferred income taxes (2,820) 158
Other, net (3,373) 2,153
Total adjustments 82,716 71,466
Net cash provided by operating activities 125,346 54,586
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 12,003 21,871
Proceeds from call and maturity of held-to-maturity investments 2,316 1,050
Proceeds from call and maturity of available-for-sale investments 433,619 438,472
Proceeds from short term and other investments 3,791 4,583
Purchase of available-for-sale investments (557,257) (432,892)
Purchase of short-term and other investments (9,000) (2,907)
Net purchases and sales of property and equipment (1,391) (6,766)
Acquisition of property and casualty company, net of cash acquired 0 (171,394)
Net cash used in investing activities (115,919) (147,983)
Cash Flows From Financing Activities    
Deposits to investment and universal life contracts 109,900 128,257
Withdrawals from investment and universal life contracts (106,978) (86,507)
Borrowings of short-term debt 0 79,900
Repayment of short-term debt (45,000) (29,900)
Repayment of trust preferred securities (15,626) 0
Payment of cash dividends (11,455) (11,682)
Repurchase of common stock (2,900) (12,396)
Issuance of common stock 760 139
Tax impact from issuance of common stock (89) 6
Net cash (used in) provided by financing activities (71,388) 67,817
Net Change in Cash and Cash Equivalents (61,961) (25,580)
Cash and Cash Equivalents at Beginning of Period 144,527 180,057
Cash and Cash Equivalents at End of Period $ 82,566 $ 154,477