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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Net income $ 71,632 $ 46,231 $ 77,865
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 996 984 1,181
Net amortization of investments 10,787 14,015 16,247
Deferred income taxes (1,462) 12,800 (2,249)
Net realized losses on investments 1,536 647 509
Net unrealized losses on equity securities 2,088    
Net realized losses on disposal of assets   2 1
Share-based compensation 2,065 2,018 1,603
Changes in operating assets and liabilities:      
Premiums receivable, net 11,756 8,771 2,359
Accrued interest receivable 438 725 325
Deferred policy acquisition costs 517 (951) 1,112
Amounts held by others (7,855) 27,848 1,016
Other assets 1,873 (1,882) 1,631
Reserves for loss and loss adjustment expenses 26,564 29,069 24,743
Unearned premiums (7,974) (4,758) (5,955)
Reinsurance balances (21,873) (6,495) 7,285
Amounts held for others and policyholder deposits 2,911 4,168 (17,066)
Accounts payable and other liabilities 4,269 (2,382) 3,605
Net cash provided by operating activities 98,268 130,810 114,212
Investing activities      
Purchases of investments held-to-maturity (99,330) (222,104) (102,830)
Purchases of investments available-for-sale (124,128) (108,517) (216,466)
Purchases of equity securities (11,459) (8,503)  
Purchases of short-term investments (133,355) (62,687) (35,295)
Proceeds from maturities of investments held-to-maturity 99,984 152,995 177,159
Proceeds from sales and maturities of investments available-for-sale 100,357 112,179 115,552
Proceeds from sales of equity securities 3 1  
Proceeds from sales and maturities of short-term investments 139,865 72,400 13,040
Proceeds from redemptions of other investments 130 13,172  
Purchases of property and equipment (1,126) (478) (1,638)
Net cash used in investing activities (29,059) (51,542) (50,478)
Financing activities      
Proceeds from stock option exercises 67 837
Tax benefit from share-based payments     995
Dividends to shareholders (84,491) (82,645) (76,111)
Net cash used in financing activities (84,424) (82,645) (74,279)
Change in cash and cash equivalents (15,215) (3,377) (10,545)
Cash and cash equivalents at beginning of year 55,559 58,936 69,481
Cash and cash equivalents at end of year 40,344 55,559 58,936
Supplemental disclosure of cash flow information      
Income taxes paid $ 11,235 $ 28,255 $ 31,500