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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income (loss) $ 20,078 $ (12,337)
Adjustments to reconcile net income to net cash used for operating activities:    
Investment amortization, net (41) (69)
Fixed asset depreciation, net 2,260 1,686
Stock based compensation 1,440 1,255
Credit for deferred income taxes (1,072) (697)
Net realized gains on investments (492) (733)
Credit loss expense 142 922
Earnings from partnership investments (226) (2,166)
Change in net unrealized gains on equity securities (7,665) (770)
Changes in assets and liabilities:    
Accounts receivable, net (12,804) (13,018)
Accrued investment income (751) 496
Receivable from reinsurers (11,111) (542)
Ceded unearned premiums (1,683) (465)
Deferred policy acquisition costs (1,794) (1,337)
Taxes recoverable/payable 1,403 (6,564)
Other assets (2,112) 434
Loss and loss adjustment expense reserves 715 20,541
Unearned premium reserves 15,925 11,615
Accounts payable and accrued liabilities (3,285) (20,123)
Payable to reinsurers (3,445) (1,549)
Other liabilities (16,617) 10,529
Net cash used for operating activities (21,135) (12,892)
Cash flows from investing activities:    
Fixed maturities purchased (30,825) (22,528)
Short term investments purchased   (79)
Equity securities purchased (13,720) (12,282)
Other invested assets purchased (5,654) (8,482)
Proceeds from sales and paydowns of fixed maturities 25,500 36,818
Proceeds from maturities, redemptions, and calls of fixed maturities 11,147 3,132
Proceed from sales of equity securities 43,435 8,310
Proceeds from other invested assets redeemed 1,583 2,301
Acquisition, net of cash received (1,000)  
Fixed assets purchased (3,067) (535)
Net cash provided by investing activities 27,399 6,655
Cash flows from financing activities:    
Proceeds from FHLB loan   10,000
Dividends paid to shareholders (13,615) (13,747)
Net cash used for financing activities (13,615) (3,747)
Net increase (decrease) in cash and cash equivalents (7,351) (9,984)
Cash and cash equivalents at beginning of year 38,152 25,300
Cash and cash equivalents at end of period $ 30,801 $ 15,316