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Consolidated Statements Of Cash Flows (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES  
Net income$ 111,695$ 175,845
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization30,59629,672
Net realized investment losses (gains)14,465(80,770)
Bond amortization (accretion), net4,071(428)
Excess tax benefit from exercise of stock options(40)(60)
Increase in premiums receivables(17,204)(13,934)
Decrease in current and deferred income taxes22,20940,611
Increase in deferred policy acquisition costs(4,054)(556)
Decrease in unpaid losses and loss adjustment expenses(55,480)(68,185)
Increase in unearned premiums32,82912,406
Increase in accounts payable and accrued expenses1,96726,097
Share-based compensation606804
Increase (decrease) in other payables24,659(21,105)
Other, net4,433(973)
Net cash provided by operating activities170,75299,424
CASH FLOWS FROM INVESTING ACTIVITIES  
Fixed maturities available-for-sale in nature: Purchases(265,648)(355,207)
Sales195,551145,838
Calls or maturities294,230232,274
Equity securities available-for-sale in nature:  
Purchases(292,972)(172,788)
Sales268,783151,440
Calls04,826
Net (decrease) increase in payable for securities(5,122)4,188
Net increase in short-term investments(109,175)(6,085)
Purchase of fixed assets(12,613)(22,143)
Sale and write-off of fixed assets(1,730)170
Other, net9,1493,582
Net cash provided by (used in) investing activities80,453(13,905)
CASH FLOWS FROM FINANCING ACTIVITIES  
Dividends paid to shareholders(98,680)(96,981)
Excess tax benefit from exercise of stock options4060
Proceeds from stock options exercised810691
Payment to retire senior notes(125,000)0
Net cash used in financing activities(222,830)(96,230)
Net increase in cash28,375(10,711)
Cash:  
Beginning of the year181,388185,505
End of period209,763174,794
SUPPLEMENTAL CASH FLOW DISCLOSURE  
Interest paid5,2865,457
Income taxes paid50316,031
Net realized gains from sale of investments$ 7,528$ 4,931