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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 320,087 $ (5,728) $ 144,877
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 64,730 58,791 55,343
Net realized investment (gains) losses (222,793) 133,520 (83,650)
Increase in premiums receivable (49,832) (80,979) (14,908)
Decrease (increase) in reinsurance recoverables 142,314 (164,739) (43,043)
Gain on sale of fixed assets 0 0 (3,078)
Changes in current and deferred income taxes 72,545 (13,898) (3,010)
(Increase) decrease in deferred policy acquisition costs (18,035) (16,980) 2,675
Increase in loss and loss adjustment expense reserves 91,843 318,799 220,365
Increase in unearned premiums 119,366 134,254 27,490
Increase (decrease) in accounts payable and accrued expenses 26,493 6,586 (4,178)
Share-based compensation 123 145 60
Other, net (27,163) 13,663 42,462
Net cash provided by operating activities 519,678 383,434 341,405
Fixed maturity securities available for sale in nature:      
Purchases (491,795) (706,224) (734,397)
Sales 136,560 189,306 100,709
Calls or maturities 316,860 334,626 575,735
Equity securities available for sale in nature      
Purchases (1,174,759) (1,026,827) (831,310)
Sales 1,088,701 954,755 679,571
Calls 0 0 7,100
Changes in securities payable and receivable (2,536) 4,035 (44,740)
(Increase) decrease in short-term investments (240,391) 45,747 73,005
Purchase of fixed assets (40,088) (27,959) (19,443)
Sale of fixed assets 0 0 6,239
Other, net 6,247 10,105 1,934
Net cash used in investing activities (401,201) (222,436) (185,597)
CASH FLOWS FROM FINANCING ACTIVITIES      
Dividends paid to shareholders (139,071) (138,478) (137,886)
Proceeds from stock options exercised 701 358 2,162
Net proceeds from issuance of senior notes 0 0 371,011
Payoff of principal on loan and credit facilities 0 0 (320,000)
Net cash used in financing activities (138,370) (138,120) (84,713)
Net (decrease) increase in cash (19,893) 22,878 71,095
Cash:      
Beginning of year 314,291 291,413 220,318
End of year 294,398 314,291 291,413
SUPPLEMENTAL CASH FLOW DISCLOSURE      
Interest paid 16,586 16,586 9,863
Income taxes (refunded) paid, net $ (14,564) $ (10,989) $ 25,218