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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (95,058) $ (505,902)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 54,154 64,647
Net realized investment losses 60,772 581,237
Net (gains) losses on sales of fixed assets (5,857) 85
Increase in premiums receivable (53,643) (25,202)
(Increase) decrease in reinsurance recoverables (551) 19,691
Changes in current and deferred income taxes (43,396) (147,595)
Increase in deferred policy acquisition costs (30,097) (21,467)
Increase in loss and loss adjustment expense reserves 138,866 206,304
Increase in unearned premiums 202,915 115,660
Increase (decrease) in accounts payable and accrued expenses 16,088 (11,708)
Other, net (16,540) 9,121
Net cash provided by operating activities 227,653 284,871
Fixed maturity securities available for sale in nature:    
Purchases (459,389) (1,299,431)
Sales 160,115 621,519
Calls or maturities 184,038 388,421
Equity securities available for sale in nature:    
Purchases (970,935) (755,838)
Sales 987,078 843,283
Changes in securities payable and receivable (12,844) (11,303)
(Increase) decrease in short-term investments (81,991) 39,634
Purchases of fixed assets (26,985) (25,589)
Sales of fixed assets 29,873 3
Other, net 6,143 3,808
Net cash used in investing activities (184,897) (195,493)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (52,741) (87,902)
Payments on finance lease obligations (855) (1,147)
Proceeds from bank borrowing 175,000 0
Net cash provided by (used in) financing activities 121,404 (89,049)
Net increase in cash 164,160 329
Cash:    
Beginning of the year 289,776 335,557
End of period 453,936 335,886
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 19,534 16,612
Income taxes (refunded) paid, net $ (64) $ 179