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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flow from operating activities:      
Net income $ 40,440 $ 37,199 $ 12,727
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Net realized investment gains (3,616) (4,426) (2,881)
Amortization of investment premium or discount, net 5,645 4,165 1,761
Depreciation and amortization 624 149 263
Share-based compensation 4,527 2,140 461
Changes in operating assets and liabilities:      
Prepaid reinsurance premiums (66,269) (46,911) (546)
Premiums receivable, net (11,319) (4,860) (14,391)
Reinsurance recoverable, net (180) (9,793) 761
Deferred acquisition costs (1,937) 3,098 (8,229)
Income taxes receivable, net (2,445) (4,189) 2,418
Loss and loss adjustment expense reserves 19,010 17,315 11,108
Unearned premiums 61,535 64,081 69,336
Deferred income taxes, net of other comprehensive income 6,741 765 2,020
Other, net 135 4,411 4,905
Net cash provided by operating activities 52,891 63,144 79,713
Cash flow from investing activities:      
Sales, maturities and redemptions of investment securities 169,979 87,151 106,173
Purchases of investment securities (231,884) (194,087) (192,627)
Purchases of property and equipment (1,736) (969) (629)
Net cash used in investing activities (63,641) (107,905) (87,083)
Cash flow from financing activities:      
Noncontrolling interest equity investment 18,743 0 0
Issuance of debt in consolidated variable interest entity 5,000 0 0
Tax benefit related to share-based compensation 1,564 480 169
Issuance of common stock in public offering 0 43,109 27,879
Issuance of common stock for share-based awards 171 1,555 858
Dividends paid (1,847) (1,672) (1,233)
Net cash provided by financing activities 23,631 43,472 27,673
Net increase (decrease) in cash and cash equivalents 12,881 (1,289) 20,303
Cash and cash equivalents at beginning of period 40,157 41,446 21,143
Cash and cash equivalents at end of period 53,038 40,157 41,446
Cash paid during the period for:      
Income taxes 16,262 19,185 1,870
Non-cash investing and finance activities:      
Accrued dividends payable $ 0 $ 564 $ 330