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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities    
Net income $ 16,169 $ 13,524
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 222 266
Net amortization of investments 3,151 3,769
Deferred income taxes 264 (13)
Net realized losses on investments 31 181
Net unrealized losses on equity securities 390  
Net realized losses on disposal of assets   2
Share-based compensation 18 416
Changes in operating assets and liabilities:    
Premiums receivable, net (12,564) (8,271)
Accrued interest receivable (697) (547)
Deferred policy acquisition costs (1,036) (566)
Amounts held by others (7,855)  
Other assets 2,438 (1,148)
Reserves for loss and loss adjustment expenses 5,453 6,720
Unearned premiums 7,702 1,775
Reinsurance balances (4,040) 741
Amounts held for others and policyholder deposits 402 414
Accounts payable and other liabilities 2,618 6,531
Net cash provided by operating activities 12,666 23,794
Investing activities    
Purchases of investments held-to-maturity (17,925) (53,640)
Purchases of investments available-for-sale (28,510) (34,081)
Purchases of short-term investments (28,688) (4,907)
Proceeds from maturities of investments held-to-maturity 19,127 19,752
Proceeds from sales and maturities of investments available-for-sale 25,004 29,851
Proceeds from sales and maturities of short-term investments 4,000 1,630
Proceeds from redemptions of other investments   2,000
Purchases of property and equipment (868) (73)
Net cash used in investing activities (27,860) (39,468)
Financing activities    
Proceeds from stock option exercises 68  
Dividends to shareholders (4,361) (3,909)
Net cash used in financing activities (4,293) (3,909)
Change in cash and cash equivalents (19,487) (19,583)
Cash and cash equivalents at beginning of period 55,559 58,936
Cash and cash equivalents at end of period $ 36,072 $ 39,353