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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 216,176 $ 89,007
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 36,842 32,982
Net realized investment (gains) losses (100,496) 92,894
(Increase) decrease in premiums receivable (26,634) 271
(Increase) decrease in reinsurance recoverables (4,217) 28,566
Changes in current and deferred income taxes 435 (4,338)
Increase in deferred policy acquisition costs (3,829) (9,574)
Increase (decrease) in loss and loss adjustment expense reserves 99,711 (56,145)
Increase in unearned premiums 65,251 34,492
Increase in accounts payable and accrued expenses 375 48,778
Share-based compensation 70 70
Other, net 33,557 2,580
Net cash provided by operating activities 317,241 259,583
Fixed maturity securities available for sale in nature:    
Purchases (574,598) (449,641)
Sales 86,022 106,986
Calls or maturities 225,650 84,238
Equity securities available for sale in nature:    
Purchases (434,406) (680,955)
Sales 466,292 564,635
Calls 0 3,000
Changes in securities payable and receivable 32,107 (2,219)
(Increase) decrease in short-term investments (1,126) 159,112
Purchases of fixed assets (17,802) (19,789)
Other, net 973 12,555
Net cash used in investing activities (216,888) (222,078)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (70,044) (69,750)
Proceeds from stock options exercised 215 0
Payments on finance lease obligations (388) 0
Net cash used in financing activities (70,217) (69,750)
Net increase (decrease) in cash 30,136 (32,245)
Cash:    
Beginning of the year 348,479 294,398
End of period 378,615 262,153
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 8,303 8,298
Income taxes paid, net $ 51,209 $ 20,091