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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 106,995 $ (139,204)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,580 16,026
Net realized investment (gains) losses (41,691) 251,320
Increase in premiums receivable (26,941) (20,312)
(Increase) decrease in reinsurance recoverables (5,824) 8,397
Changes in current and deferred income taxes 25,427 (41,501)
Decrease (increase) in deferred policy acquisition costs 3,257 (1,477)
Increase (decrease) in loss and loss adjustment expense reserves 49,796 (23,310)
Increase in unearned premiums 34,561 29,256
(Decrease) increase in accounts payable and accrued expenses (2,423) 9,640
Share-based compensation 35 35
Other, net 13,747 8,276
Net cash provided by operating activities 174,519 97,146
Fixed maturity securities available for sale in nature:    
Purchases (230,038) (334,517)
Sales 41,041 23,503
Calls or maturities 103,010 41,643
Equity securities available for sale in nature:    
Purchases (194,929) (361,942)
Sales 240,657 269,320
Changes in securities payable and receivable 43,436 8,864
(Increase) decrease in short-term investments (145,159) 254,811
Purchases of fixed assets (7,929) (10,305)
Other, net 543 4,790
Net cash used in investing activities (149,368) (103,833)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (35,022) (34,875)
Proceeds from stock options exercised 215 0
Payments on finance lease obligations (393) 0
Net cash used in financing activities (35,200) (34,875)
Net decrease in cash (10,049) (41,562)
Cash:    
Beginning of the year 348,479 294,398
End of period 338,430 252,836
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 8,275 8,269
Income taxes paid, net $ 0 $ 0