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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net income$ 7,246$ 6,456
Adjustments to reconcile net income to net cash provided by (used in) operating activities:  
Realized gains on sale of investments and other assets(41)(648)
Net deferred policy acquisition costs(8,921)(5,984)
Amortization of cost of customer relationships acquired2,1132,311
Decrease in fair value of warrants(1,454)(380)
Depreciation753787
Amortization of premiums and discounts on fixed maturities and short-term investments3,2082,548
Deferred federal income tax benefit(567)(61)
Change in:  
Accrued investment income(1,032)(951)
Reinsurance recoverable(161)1,176
Due premiums and other receivables7301,736
Future policy benefit reserves39,30830,223
Other policyholders' liabilities1,7475,897
Federal income tax receivable1,5702,120
Commissions payable and other liabilities(269)(4,754)
Other, net(668)(1,021)
Net cash provided by operating activities43,56239,476
Cash flows from investing activities:  
Sale of fixed maturities, available-for-sale07,074
Maturity and calls of fixed maturities, available-for-sale127,342137,506
Maturity and calls of fixed maturities, held-to-maturity52,900150,350
Purchase of fixed maturities, available-for-sale(82,184)(246,238)
Purchase of fixed maturities, held-to-maturity(104,466)(71,452)
Sale of equity securities, available-for-sale0591
Calls of equity securities, available-for-sale682100
Purchase of equity securities, available-for-sale(25,000)(205)
Principal payments on mortgage loans3633
Increase in policy loans(2,464)(2,874)
Sale of other long-term investments542
Purchase of other long-term investments(25)(1,799)
Sale of property and equipment20
Purchase of property and equipment(1,662)0
Maturity of short-term investments02,500
Purchase of short-term investments(2,066)0
Proceeds from assumption reinsurance agreement4,5500
Net cash used in investing activities(32,350)(24,372)
Cash flows from financing activities:  
Warrants exercised1,7910
Annuity deposits4,8184,041
Annuity withdrawals(3,119)(2,404)
Net cash provided by financing activities3,4901,637
Net increase in cash and cash equivalents14,70216,741
Cash and cash equivalents at beginning of year49,72348,625
Cash and cash equivalents at end of period64,42565,366
Supplemental disclosures of operating activities:  
Cash paid during the period for income taxes2,2671,200
Supplemental Disclosures of Non-Cash Investing Activities:  
Real estate parcel sold 102
Mortgage loan issued $ 102