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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net income $ 29,005 $ 40,896
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 529 594
Net amortization of investments 7,394 8,163
Deferred income taxes 302 291
Net realized (gains) losses on investments 569 (793)
Net realized losses on disposal of assets 2 1
Share-based compensation 937 744
Changes in operating assets and liabilities:    
Premiums receivable, net (7,641) (22,871)
Accrued interest receivable 153 37
Deferred policy acquisition costs (1,582) (263)
Amounts held by others   1,016
Other assets (1,900) (756)
Reserves for loss and loss adjustment expenses 6,983 7,516
Unearned premiums 3,867 11,817
Reinsurance balances (509) (3,270)
Amounts held for others and policyholder deposits 1,882 4,700
Accounts payable and other liabilities 807 8,539
Net cash provided by operating activities 40,798 56,361
Investing activities    
Purchases of investments held-to-maturity (96,697) (76,920)
Purchases of investments available-for-sale (50,193) (132,699)
Purchases of short-term investments (30,800) (12,132)
Proceeds from maturities of investments held-to-maturity 66,276 103,565
Proceeds from sales and maturities of investments available-for-sale 54,062 66,755
Proceeds from sales and maturities of short-term investments 13,610 2,507
Proceeds from redemption of other invested assets 6,000  
Purchases of property and equipment (240) (850)
Net cash used in investing activities (37,982) (49,774)
Financing activities    
Proceeds from stock option exercises   501
Tax benefit from share-based payments   546
Dividends to shareholders (7,785) (6,960)
Net cash used in financing activities (7,785) (5,913)
Change in cash and cash equivalents (4,969) 674
Cash and cash equivalents at beginning of period 58,936 69,481
Cash and cash equivalents at end of period $ 53,967 $ 70,155