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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 73,462 $ (45,288)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,337 17,411
Net realized investment gains (38,192) (49,008)
Net losses on sales of fixed assets 0 1,784
(Increase) decrease in premiums receivable (74,948) 3,085
Decrease (increase) in reinsurance recoverables 1,983 (6,831)
Changes in current and deferred income taxes 12,355 (16,791)
(Increase) decrease in deferred policy acquisition costs (14,094) 84
Increase in loss and loss adjustment expense reserves 73,518 92,651
Increase in unearned premiums 118,524 5,690
Increase in accounts payable and accrued expenses 3,615 442
Other, net 19,066 14,944
Net cash provided by operating activities 192,626 18,173
Fixed maturity securities available for sale in nature:    
Purchases (419,763) (175,292)
Sales 116,837 97,702
Calls or maturities 114,300 52,898
Equity securities available for sale in nature:    
Purchases (399,522) (297,805)
Sales 365,377 320,113
Calls 7,185 0
Changes in securities payable and receivable 10,783 (37,650)
Decrease (increase) in short-term investments 16,151 (23,435)
Purchases of fixed assets (10,271) (8,685)
Sales of fixed assets 0 1,008
Other, net 4,044 1,646
Net cash used in investing activities (194,879) (69,500)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (17,580) (17,580)
Payments on finance lease obligations (985) (489)
Proceeds from bank borrowing 0 50,000
Net cash (used in) provided by financing activities (18,565) 31,931
Net decrease in cash (20,818) (19,396)
Cash:    
Beginning of the year 550,903 289,776
End of period 530,085 270,380
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 11,741 8,315
Income taxes paid, net $ 3,404 $ 0