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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net income $ 58,676,000 $ 52,826,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 684,000 748,000
Net amortization of investments 6,520,000 8,414,000
Deferred income taxes (203,000) 1,388,000
Net realized losses on investments 27,000 1,471,000
Net unrealized gains on equity securities (3,165,000) (259,000)
Net realized losses on disposal of assets 2,000  
Share-based compensation 882,000 1,074,000
Changes in operating assets and liabilities:    
Premiums receivable, net (8,171,000) (4,391,000)
Accrued interest receivable (207,000) (141,000)
Deferred policy acquisition costs (607,000) (1,075,000)
Amounts held by others   (7,855,000)
Other assets (949,000) 2,692,000
Reserves for loss and loss adjustment expenses (7,597,000) 19,284,000
Unearned premiums 5,339,000 7,897,000
Reinsurance balances 9,140,000 (19,136,000)
Amounts held for others and policyholder deposits 2,416,000 2,621,000
Accounts payable and other liabilities (309,000) 5,185,000
Net cash provided by operating activities 62,478,000 70,743,000
Investing activities    
Purchases of investments held-to-maturity (115,712,000) (71,872,000)
Purchases of investments available-for-sale (46,104,000) (82,519,000)
Purchases of equity securities (4,120,000) (5,251,000)
Purchases of short-term investments (79,224,000) (133,355,000)
Proceeds from maturities of investments held-to-maturity 120,498,000 85,322,000
Proceeds from sales and maturities of investments available-for-sale 90,244,000 79,539,000
Proceeds from sales and maturities of short-term investments 73,039,000 48,965,000
Proceeds from redemptions of other investments   130,000
Purchases of property and equipment (858,000) (1,083,000)
Net cash provided by (used in) investing activities 37,763,000 (80,124,000)
Financing activities    
Proceeds from stock option exercises 19,800 66,900
Finance lease purchases (35,000)  
Dividends to shareholders (14,700,000) (12,921,000)
Net cash used in financing activities (14,715,000) (12,854,000)
Change in cash and cash equivalents 85,526,000 (22,235,000)
Cash and cash equivalents at beginning of period 40,344,000 55,559,000
Cash and cash equivalents at end of period $ 125,870,000 $ 33,324,000