Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities:
Net income	$ 21,110	$ 22,932
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation & amortization	1,184	1,459
Share-based compensation	4,467	4,926
Deferred income taxes	(8,598)	191
Net realized gains	(1,049)	(1,597)
Net other-than-temporary impairments recognized in earnings	1,093	0
Changes in assets and liabilities:
Reinsurance recoverable on paid and unpaid losses and loss adjustment expenses	(9,593)	9,640
Reserves for losses and loss adjustment expenses	41,664	9,204
Prepaid reinsurance premiums	(11,186)	11,891
Unearned premiums	62,139	43,571
Premiums receivable	(74,566)	(72,300)
Deferred policy acquisition costs	(6,539)	(13,376)
Accrued investment income	(792)	(450)
Reinsurance balances payable	9,187	15,753
Current income tax payable, net	19,098	9,291
Other	(10,276)	1,717
Net cash provided by operating activities	37,343	42,852
Fixed maturities
Redemptions and maturities	86,049	44,996
Sales	34,973	98,680
Purchases	(175,679)	(177,719)
Equity securities
Sales	13,316	10,724
Purchases	(11,492)	(15,601)
Change in payable for securities	6,757	(1,472)
Net change in short-term investments	18,093	6,146
Purchase of property and equipment	(956)	(2,452)
Net cash used in investing activities	(28,939)	(36,698)
Financing activities:
Proceeds of stock issued from employee stock purchase plan	1,147	867
Payment of employee tax withholding on stock compensation	(10,295)	(4,304)
Dividends paid	(1,324)	0
Net cash used in financing activities	(10,472)	(3,437)
Effect of exchange rate on cash	887
Change in cash	(1,181)	2,717
Cash at beginning of year	64,643	69,901
Cash at end of period	63,462	72,618
Supplemental information:
Income taxes paid, net	136	40
Interest paid	0	0
Issuance of stock to directors	$ 578	$ 633