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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net income $ 70,462 $ 53,666 $ 43,637
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 1,348 1,298 1,300
Net amortization of investments 16,424 15,243 13,350
Deferred income taxes 1,446 (1,412) (207)
Net realized (gains) losses on investments 2,494 (697) 1,211
Net realized losses on disposal of assets 664   2
Share-based compensation 1,223 1,519 1,409
Changes in operating assets and liabilities:      
Premiums receivable, net (6,447) (7,338) (29,629)
Accrued interest receivable (48) (395) (850)
Deferred policy acquisition costs (763) (478) (752)
Amounts held by others (27,847) (1,082) (5)
Other assets (1,042) (4,306) 1,566
Reserves for loss and loss adjustment expenses 30,431 73,045 44,107
Unearned premiums (593) 4,280 23,768
Reinsurance balances (5,878) (10,326) 26,177
Amounts held for others and policyholder deposits 6,621 11,190 238
Accounts payable and other liabilities 4,364 6,477 3,837
Net cash provided by operating activities 92,859 140,684 129,159
Investing activities      
Purchases of investments held-to-maturity (178,010) (223,028) (78,144)
Purchases of investments available-for-sale (135,915) (149,956) (135,798)
Purchases of short-term investments (12,246) (79,957) (131,981)
Purchases of other invested assets     (10,000)
Proceeds from maturities of investments held-to-maturity 160,834 112,100 117,770
Proceeds from sales and maturities of investments available-for-sale 78,637 72,535 29,099
Proceeds from sales and maturities of short-term investments 37,833 128,043 112,978
Purchases of property and equipment (953) (989) (1,140)
Net cash (used in)/provided by investing activities (49,820) (141,252) (97,216)
Financing activities      
Proceeds from stock option exercises 1,844 2,674 2,344
Tax benefit from share-based payments 2,203 2,841 2,024
Dividends to shareholders (68,561) (37,068) (5,910)
Net cash used in financing activities (64,514) (31,553) (1,542)
Change in cash and cash equivalents (21,475) (32,121) 30,401
Cash and cash equivalents at beginning of year 90,956 123,077 92,676
Cash and cash equivalents at end of year 69,481 90,956 123,077
Supplemental disclosure of cash flow information      
Income taxes paid $ 23,851 $ 19,926 $ 12,512