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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flow from operating activities:    
Net income (loss) $ (19,381) $ 2,133
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Net realized and unrealized investment (gains) losses (92) 2,825
Amortization of investment premium or discount, net 1,256 400
Depreciation and amortization 460 465
Share-based compensation 407 453
Changes in operating assets and liabilities:    
Prepaid reinsurance premiums 61,204 56,194
Premiums receivable, net 10,041 3,085
Reinsurance recoverable, net (51,038) (51,567)
Deferred acquisition costs, net 1,429 (1,579)
Current and deferred income taxes, net (1,291) 1,510
Deferred revenue (278) (86)
Loss and loss adjustment expense reserves (53,654) 51,313
Unearned premiums (4,794) (2,612)
Reinsurance payable and funds withheld liabilities (50,561) (39,416)
Other (3,853) (1,745)
Net cash provided by (used in) operating activities (110,145) 21,373
Cash flow from investing activities:    
Proceeds from sales of equity securities 0 2,056
Proceeds from sales of debt securities 87,007 103,118
Purchases of equity securities 0 (3,428)
Purchases of debt securities (56,148) (134,971)
Maturities and redemptions of debt securities 31,383 10,850
Purchases of property and equipment (174) (1,224)
Net cash provided by (used in) investing activities 62,068 (23,599)
Cash flow from financing activities:    
Purchases of FedNat Holding Company common stock 0 (6,643)
Issuance of common stock 15,403 0
Issuance of common stock for share-based awards 1 0
Dividends paid 0 (1,302)
Net cash provided by (used in) financing activities 15,404 (7,945)
Net increase (decrease) in cash and cash equivalents (32,673) (10,171)
Cash and cash equivalents at beginning-of-period 102,367 133,361
Cash and cash equivalents at end-of-period 69,694 123,190
Supplemental disclosure of cash flow information:    
Cash paid (received) during the period for interest 3,750 3,750
Cash paid (received) during the period for income taxes (3,618) (811)
Significant non-cash investing and financing transactions:    
Right-of-use asset (7,250) (7,938)
Lease liability $ 7,250 $ 7,938