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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flow from operating activities:    
Net income $ 27,204 $ 8,161
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of investment premium or discount, net 2,909 1,135
Depreciation and amortization of property plant and equipment, net 334 190
Net realized investment gains (4,047) (2,480)
Recovery for uncollectible premiums receivable 0 (34)
Non-cash compensation 72 188
Changes in operating assets and liabilities:    
Premiums receivable (5,698) (12,053)
Prepaid reinsurance premiums (31,610) 5,339
Reinsurance recoverable, net (6,494) 818
Income taxes recoverable (2,130) (829)
Deferred income tax expense, net of other comprehensive income 2,741 3,361
Policy acquisition costs, net of amortization 5,728 (5,881)
Other assets (1,941) 171
Contingent quota-share profit sharing (1,750) 0
Unpaid losses and LAE 12,093 2,042
Unearned premiums 58,295 57,981
Premium deposits and customer credit balances 3,261 1,383
Income taxes payable (2,379) 0
Claims payments outstanding 979 (1,177)
Accounts payable and accrued expenses 1,158 4,785
Net cash provided by operating activities 58,725 63,100
Cash flow used by investing activities:    
Proceeds from sale of investment securities 65,869 93,079
Purchases of investment securities available for sale (162,864) (129,349)
Purchases of property and equipment (1,074) (542)
Net cash used by investing activities (98,069) (36,812)
Cash flow provided (used) by financing activities:    
Exercised stock options 1,433 358
Dividends paid (1,038) (903)
Issuance of common stock 43,116 0
Tax benefit related to non-cash compensation 313 108
Net cash provided (used) by financing activities 43,824 (437)
Net increase in cash and short term investments 4,480 25,851
Cash and short term investments at beginning of period 41,446 21,143
Cash and short term investments at end of period 45,926 46,994
Cash paid during the period for:    
Income taxes 18,185 1,870
Non-cash investing and finance activities:    
Accrued dividends payable $ 350 $ 250