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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows From Operating Activities    
Net income (loss) $ 32,452 $ (66,574)
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Net accretion of bond premium 7,203 5,501
Depreciation and amortization 3,175 3,318
Stock-based compensation expense 2,115 2,927
Net realized investment (gains) losses (30,512) 77,628
Net cash flows from equity and trading investments 40,983 17,148
Deferred income tax benefit 2,582 (19,229)
Changes in:    
Accrued investment income 789 697
Premiums receivable (16,975) (19,176)
Deferred policy acquisition costs (9,192) (3,274)
Reinsurance receivables 35,755 (55,512)
Prepaid reinsurance premiums 614 (4,956)
Income taxes receivable 3,926 (19,184)
Other assets (10,372) (9,162)
Losses and loss settlement expenses (9,678) 55,935
Unearned premiums 9,326 25,639
Accrued expenses and other liabilities (19,077) (2,098)
Deferred income taxes 0 4,184
Other, net (8,284) 10,420
Cash from operating activities 2,378 70,806
Net cash provided by operating activities 34,830 4,232
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 116,664 16,907
Proceeds from call and maturity of available-for-sale investments 153,567 159,709
Proceeds from sale of other investments 2,214 2,750
Purchase of investments in mortgage loans 0 (5,323)
Purchase of investments available-for-sale (255,489) (117,299)
Purchase of other investments (4,663) (3,577)
Net purchases and sales of property and equipment (7,594) (12,040)
Net cash provided by investing activities 4,699 41,127
Cash Flows From Financing Activities    
Issuance of common stock (412) (562)
Repurchase of common stock (1,007) (2,741)
Payment of cash dividends (7,539) (16,516)
Net cash used in financing activities (8,958) (19,819)
Net Change in Cash and Cash Equivalents 30,571 25,540
Cash and Cash Equivalents at Beginning of Period 87,948 120,722
Cash and Cash Equivalents at End of Period $ 118,519 $ 146,262