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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 89,007 $ 219,117
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,982 31,164
Net realized investment losses (gains) 92,894 (164,403)
Decrease (increase) in premiums receivable 271 (37,693)
Decrease in reinsurance recoverables 28,566 94,517
Changes in current and deferred income taxes (4,338) 49,667
Increase in deferred policy acquisition costs (9,574) (12,036)
Decrease in loss and loss adjustment expense reserves (56,145) (45,488)
Increase in unearned premiums 34,492 78,814
Increase in accounts payable and accrued expenses 48,778 32,560
Share-based compensation 70 52
Other, net 2,580 19,352
Net cash provided by operating activities 259,583 265,623
Fixed maturity securities available for sale in nature:    
Purchases (449,641) (294,561)
Sales 106,986 53,969
Calls or maturities 84,238 138,846
Equity securities available for sale in nature:    
Purchases (680,955) (554,130)
Sales 564,635 508,365
Calls 3,000 0
Changes in securities payable and receivable (2,219) 2,450
Decrease (increase) in short-term investments 159,112 (108,370)
Purchases of fixed assets (19,789) (20,874)
Other, net 12,555 3,580
Net cash used in investing activities (222,078) (270,725)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (69,750) (69,460)
Proceeds from stock options exercised 0 591
Net cash used in financing activities (69,750) (68,869)
Net decrease in cash (32,245) (73,971)
Cash:    
Beginning of the year 294,398 314,291
End of period 262,153 240,320
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 8,298 8,297
Income taxes paid (refunded), net $ 20,091 $ (22)