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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flow from operating activities:    
Net income (loss) $ (69,750) $ (19,346)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Net realized and unrealized (gains) losses (9,676) (7,558)
Amortization of investment premium or discount, net 2,163 1,092
Depreciation and amortization (40) 1,105
Share-based compensation 745 808
Changes in operating assets and liabilities:    
Prepaid reinsurance premiums 87,239 64,095
Premiums receivable, net 3,343 (8,210)
Reinsurance recoverable, net (76,513) (19,126)
Deferred acquisition costs, net 580 (6,886)
Current and deferred income taxes, net 5,285 (10,184)
Deferred revenue (335) 128
Loss and loss adjustment expense reserves 43,047 63,361
Unearned premiums 13,011 22,869
Reinsurance payable and funds withheld liabilities (84,114) (34,591)
Other 2,350 9,583
Net cash provided by (used in) operating activities (82,665) 57,140
Cash flow from investing activities:    
Proceeds from sales of equity securities 0 5,706
Proceeds from sales of debt securities 132,003 308,760
Purchases of equity securities (2,745) (4,451)
Purchases of debt securities (121,361) (349,807)
Maturities and redemptions of debt securities 47,560 28,339
Purchases of property and equipment (342) (2,161)
Net cash provided by (used in) investing activities 55,115 (13,614)
Proceeds from issuance of long-term debt, net of issuance costs 20,038 0
Cash flow from financing activities:    
Purchases of FedNat Holding Company common stock 0 (10,418)
Issuance of common stock 15,752 0
Issuance of common stock for share-based awards 1 1
Dividends paid 0 (2,560)
Net cash provided by (used in) financing activities 35,791 (12,977)
Net increase (decrease) in cash and cash equivalents 8,241 30,549
Cash and cash equivalents at beginning-of-period 102,367 133,361
Cash and cash equivalents at end-of-period 110,608 163,910
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 (3,603) (923)
Significant non-cash investing and financing transactions:    
Right-of-use asset (7,068) (7,772)
Lease liability $ 7,068 $ 7,772