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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 125,106 $ 112,384  
Adjustments to reconcile net income to cash provided by (used in) operating activities:      
Change in future policy benefits and other policy liabilities (9,799) (161,385)  
Deferral of policy acquisition costs (126,640) (130,881)  
Amortization of deferred policy acquisition costs 67,358 63,223  
Change in income taxes 18,713 14,171  
Investment (gains) losses 4,608 (751)  
Accretion and amortization of investments (309) 1,356  
Depreciation and amortization 8,547 8,688  
Change in reinsurance recoverables 47,766 248,511  
Change in agent balances, due premiums and other receivables (5,486) 2,245  
Change in renewal commissions receivable 5,634 18,576  
Trading securities sold, matured, or called (acquired), net (14,808) 11,273  
Share-based compensation 12,129 12,437  
Change in other operating assets and liabilities, net 43,127 14,452  
Net cash provided by (used in) operating activities 175,946 214,299  
Available-for-sale investments sold, matured or called:      
Fixed-maturity securities — sold 5,179 1,227  
Fixed-maturity securities — matured or called 80,251 96,336  
Short-term investments — matured or called   41,550  
Equity securities — sold 5    
Equity securities — matured or called   3,000  
Available-for-sale investments acquired:      
Fixed-maturity securities (108,713) (250,932)  
Equity securities — acquired (47) (44)  
Purchases of property and equipment and other investing activities, net (7,861) (7,676)  
Cash collateral received (returned) on loaned securities, net (26,486) (1,358)  
Sales (purchases) of short-term investments using securities lending collateral, net 26,486 1,358  
Purchase of business, net of cash acquired   3,867  
Net cash provided by (used in) investing activities (31,186) (112,672)  
Cash flows from financing activities:      
Dividends paid (23,910) (21,645)  
Common stock repurchased (85,275) (99,010)  
Payment on note issued to seller of business   (9,000)  
Tax withholdings on share-based compensation (9,739) (4,852)  
Finance leases (68) (64)  
Net cash provided by (used in) financing activities (118,992) (134,571)  
Effect of foreign exchange rate changes on cash 82 222  
Change in cash and cash equivalents 25,850 (32,722)  
Cash and cash equivalents, beginning of period 489,240 392,501 $ 392,501
Cash and cash equivalents, end of period $ 515,090 $ 359,779 $ 489,240