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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net income $ 33,125 $ 29,005
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 488 529
Net amortization of investments 5,979 7,394
Deferred income taxes 831 302
Net realized losses on investments 1,142 569
Net unrealized losses on equity securities 314  
Net realized losses on disposal of assets   2
Share-based compensation 782 937
Changes in operating assets and liabilities:    
Premiums receivable, net (15,658) (7,641)
Accrued interest receivable 177 153
Deferred policy acquisition costs (1,350) (1,582)
Amounts held by others (7,855)  
Other assets 942 (1,900)
Reserves for loss and loss adjustment expenses 11,756 6,983
Unearned premiums 10,040 3,867
Reinsurance balances (8,828) (509)
Amounts held for others and policyholder deposits 1,787 1,882
Accounts payable and other liabilities 3,312 807
Net cash provided by operating activities 36,984 40,798
Investing activities    
Purchases of investments held-to-maturity (38,129) (96,697)
Purchases of investments available-for-sale (56,550) (50,193)
Purchases of short-term investments (100,059) (30,800)
Proceeds from maturities of investments held-to-maturity 52,584 66,276
Proceeds from sales and maturities of investments available-for-sale 66,762 54,062
Proceeds from sales and maturities of short-term investments 13,465 13,610
Proceeds from redemptions of other investments 130 6,000
Purchases of property and equipment (1,004) (240)
Net cash used in investing activities (62,801) (37,982)
Financing activities    
Proceeds from stock option exercises 67  
Dividends to shareholders (8,633) (7,785)
Net cash used in financing activities (8,566) (7,785)
Change in cash and cash equivalents (34,383) (4,969)
Cash and cash equivalents at beginning of period 55,559 58,936
Cash and cash equivalents at end of period $ 21,176 $ 53,967