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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities:    
Net income $ 45,113 $ 44,829
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation & amortization 2,424 2,482
Deferred income taxes 2,268 49
Net realized (gains) losses (9,935) (5,306)
Net other-than-temporary impairments recognized in earnings 423  
Changes in assets and liabilities:    
Reinsurance recoverable on paid and unpaid losses and loss adjustment expenses (1,891) (23,233)
Reserves for losses and loss adjustment expenses (28,478) 92,731
Prepaid reinsurance premiums (22,159) 1,518
Unearned premiums 90,901 87,547
Premiums receivable (64,643) (92,097)
Deferred policy acquisition costs (5,453) (9,968)
Accrued investment income 219 (713)
Reinsurance balances payable 2,888 (7,991)
Current income tax payable, net (1,781) 2,437
Accounts payable (21,145) (6,594)
Other 13,935 (7,543)
Net cash provided by (used in) operating activities 2,686 78,148
Fixed maturities    
Redemptions and maturities 78,127 103,838
Sales 252,250 200,325
Purchases (303,725) (445,533)
Equity securities    
Sales 64,046 10,832
Purchases (79,870) (38,007)
Change in payable for securities 7,824 10,991
Net change in short-term investments (22,214) 69,881
Purchase of property and equipment (1,233) (4,986)
Net cash provided by (used in) investing activities (4,795) (92,659)
Financing activities:    
Proceeds of stock issued from employee stock purchase plan 608 453
Proceeds of stock issued from exercise of stock options   153
Net cash provided by (used in) financing activities 608 606
Change in cash (1,501) (13,905)
Cash at beginning of year 90,751 86,509
Cash at end of period 89,250 72,604
Supplemental cash information:    
Income taxes paid, net 26,585 18,918
Interest paid 7,619 8,084
Issuance of stock to directors $ 563 $ 438