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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 217,464 $ 207,864
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 56,864 50,617
Net realized investment (gains) losses (56,953) 28,458
Increase in premiums receivable (58,529) (18,075)
(Increase) decrease in reinsurance recoverables (1,437) 37,241
Changes in current and deferred income taxes (22,454) 6,075
Increase in deferred policy acquisition costs (16,280) (18,296)
Increase in loss and loss adjustment expense reserves 150,817 20,731
Increase in unearned premiums 139,424 77,002
(Decrease) increase in accounts payable and accrued expenses (12,958) 38,879
Share-based compensation 106 106
Other, net 31,965 12,650
Net cash provided by operating activities 428,029 443,252
Fixed maturity securities available for sale in nature:    
Purchases (1,044,819) (686,541)
Sales 117,754 127,336
Calls or maturities 397,524 154,180
Equity securities available for sale in nature:    
Purchases (695,393) (1,001,624)
Sales 689,484 849,964
Calls 0 3,880
Changes in securities payable and receivable 20,267 11,923
Decrease in short-term investments 213,553 240,673
Purchases of fixed assets (29,498) (29,764)
Other, net 1,842 19,078
Net cash used in investing activities (329,286) (310,895)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (105,066) (104,626)
Proceeds from stock options exercised 215 0
Payments on finance lease obligations (765) 0
Net cash used in financing activities (105,616) (104,626)
Net (decrease) increase in cash (6,873) 27,731
Cash:    
Beginning of the year 348,479 294,398
End of period 341,606 322,129
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 16,584 16,573
Income taxes paid, net $ 69,432 $ 37,453