Consolidated Statements of Cash Flows $ in Thousands	6 Months Ended
	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)
Operating activities:
Net income	$ 39,122	$ 45,113
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation & amortization	2,816	2,424
Deferred income taxes	(3,076)	2,268
Net realized (gains) losses	(3,557)	(9,935)
Net other-than-temporary impairments recognized in earnings	150	423
Changes in assets and liabilities:
Reinsurance recoverable on paid and unpaid losses and loss adjustment expenses	(15,187)	(1,891)
Reserves for losses and loss adjustment expenses	66,119	(28,478)
Prepaid reinsurance premiums	10,174	(22,159)
Unearned premiums	83,831	90,901
Premiums receivable	(86,727)	(64,643)
Deferred policy acquisition costs	(21,411)	(5,453)
Accrued investment income	(176)	219
Reinsurance balances payable	20,330	2,888
Current income tax payable, net	2,480	(1,781)
Other	19,660	(7,210)
Net cash provided by (used in) operating activities	114,548	2,686
Fixed maturities
Redemptions and maturities	127,952	78,127
Sales	225,363	252,250
Purchases	(515,752)	(303,725)
Equity securities
Sales	28,189	64,046
Purchases	(37,898)	(79,870)
Change in payable for securities	47,062	7,824
Net change in short-term investments	73,431	(22,214)
Purchase of property and equipment	(3,422)	(1,233)
Net cash provided by (used in) investing activities	(55,075)	(4,795)
Financing activities:
Proceeds of stock issued from employee stock purchase plan	867	608
Net cash provided by (used in) financing activities	867	608
Effect of exchange rate on cash	(8,373)
Change in cash	51,967	(1,501)
Cash at beginning of year	69,901	90,751
Cash at end of period	121,868	89,250
Supplemental information:
Income taxes paid, net	14,950	26,585
Interest paid	7,619	7,619
Issuance of stock to directors	633	$ 563
Dividends declared	$ 1,309