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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net income (loss) $ 7,735 $ (21,954)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization, net of accretion 6,722 4,734
(Increase) decrease in cash surrender value of BOLI 915 (457)
Net realized investment (gains) losses (8,849) 28,673
Share-based compensation 1,031 1,011
Deferred income tax expense (benefit) (2,272) (10,224)
Policy acquisition costs, net of amortization (net deferral) (420) (599)
Equity in (earnings) loss of unconsolidated subsidiaries (6,788) 1,562
Distributed earnings from unconsolidated subsidiaries 5,658 1,585
Other (661) (703)
Other changes in assets and liabilities:    
Premiums receivable (9,165) (22,442)
Reinsurance related assets and liabilities (12,290) (4,623)
Other assets 13,151 14,268
Reserve for losses and loss adjustment expenses 21,071 (15,478)
Unearned premiums 13,699 30,202
Other liabilities (837) (17,604)
Net cash provided (used) by operating activities 28,700 (12,049)
Purchases of:    
Fixed maturities, available-for-sale (342,197) (227,503)
Equity investments (38,232) (23,136)
Other investments (33,252) (6,065)
Investment in unconsolidated subsidiaries (5,319) (17,180)
Proceeds from sales or maturities of:    
Fixed maturities, available-for-sale 195,266 180,698
Equity investments 82,048 157,652
Other investments 12,026 6,026
Net sales or (purchases) of fixed maturities, trading 3,163 (407)
Return of invested capital from unconsolidated subsidiaries 17,618 1,481
Net sales or maturities (purchases) of short-term investments 56,836 (7,441)
Unsettled security transactions, net change 27,025 12,656
Purchases of capital assets (1,243) (2,750)
Other 0 (2,206)
Net cash provided (used) by investing activities (26,261) 71,825
Financing Activities    
Repayments of Mortgage Loans (390) (376)
Dividends to shareholders (2,686) (16,714)
Capital contribution received from (return of capital to) external segregated portfolio cell participants (53) 204
Other (257) (1,090)
Net cash provided (used) by financing activities (3,386) (17,976)
Increase (decrease) in cash and cash equivalents (947) 41,800
Cash and cash equivalents at beginning of period 215,782 175,369
Cash and cash equivalents at end of period 214,835 217,169
Significant Non-Cash Transactions    
Dividends declared and not yet paid $ 2,699 $ 16,691