XML 20 R8.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities    
Net income (loss) $ 18,702 $ (72,534)
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Net accretion of bond premium 3,586 3,008
Depreciation and amortization 1,628 1,636
Stock-based compensation expense 1,009 1,634
Net realized investment (gains) losses (24,508) 93,407
Net cash flows from equity and trading investments 38,737 2,156
Deferred income tax benefit 4,002 (21,803)
Changes in:    
Accrued investment income (47) (11)
Premiums receivable (11,097) (5,570)
Deferred policy acquisition costs (861) (43)
Reinsurance receivables (3,001) (26,026)
Prepaid reinsurance premiums (448) (2,139)
Income taxes receivable (14) (15,150)
Other assets (7,109) (7,126)
Losses and loss settlement expenses 34,894 16,651
Unearned premiums (3,315) 15,798
Accrued expenses and other liabilities (26,116) (1,958)
Deferred income taxes 0 4,463
Other, net (6,532) 11,120
Cash from operating activities 808 70,047
Net cash provided by (used in) operating activities 19,510 (2,487)
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 99,682 11,910
Proceeds from call and maturity of available-for-sale investments 72,617 68,976
Proceeds from sale of other investments 621 1,889
Purchase of investments in mortgage loans 0 (2,746)
Purchase of investments available-for-sale (198,331) (57,182)
Purchase of other investments (2,423) (1,469)
Net purchases and sales of property and equipment (3,848) (7,144)
Net cash provided by (used in) investing activities (31,682) 14,234
Cash Flows From Financing Activities    
Issuance of common stock (488) (755)
Repurchase of common stock (7) (2,741)
Payment of cash dividends (3,767) (8,249)
Net cash used in financing activities (4,262) (11,745)
Net Change in Cash and Cash Equivalents (16,434) 2
Cash and Cash Equivalents at Beginning of Period 87,948 120,722
Cash and Cash Equivalents at End of Period $ 71,514 $ 120,724