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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 35,804 $ 167,609
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,750 13,394
Net realized investment losses (gains) 49,309 (122,902)
Bond amortization, net 11,348 10,113
Excess tax benefit from exercise of stock options (106) (5)
Increase in premiums receivables (18,761) (18,313)
Change in current and deferred income taxes (24,080) 40,808
Increase in deferred policy acquisition costs (2,103) (4,751)
Increase in unpaid losses and loss adjustment expenses (3,458) (14,046)
Increase in unearned premiums 19,853 39,935
Decrease in accounts payable and accrued expenses (28,778) (5,800)
Share-based compensation 2,396 1,069
Changes in other payables 9,668 (9,146)
Other, net 1,431 2,332
Net cash provided by operating activities 73,189 128,389
CASH FLOWS FROM INVESTING ACTIVITIES    
Fixed maturities available-for-sale in nature: Purchases (519,337) (331,438)
Fixed maturities available-for-sale in nature: Sales 69,834 126,426
Fixed maturities available-for-sale in nature: Calls or maturities 141,144 117,104
Equity securities available-for-sale in nature:    
Purchases (408,862) (510,895)
Sales 481,773 390,438
Calls or maturities 2,378 0
Changes in securities payable and receivable (6,784) (16,330)
Net decrease in short-term investments and purchased options 219,485 86,212
Purchase of fixed assets (11,298) (12,204)
Sale of fixed assets 104 207
Business acquisition, net of cash acquired 7,771 0
Other, net 1,381 1,557
Net cash used in investing activities (22,411) (148,923)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (68,120) (67,624)
Excess tax benefit from exercise of stock options 106 5
Proceeds from stock options exercised 2,111 118
Proceeds from bank loan 0 80,000
Net cash (used in) provided by financing activities (65,903) 12,499
Net decrease in cash (15,125) (8,035)
Cash:    
Beginning of the year 289,907 266,508
End of period 274,782 258,473
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 1,440 1,152
Income taxes paid $ 22,647 $ 30,049