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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows - operating activities    
Premiums collected $ 197,695 $ 179,456
Policyholder benefits paid (101,583) (131,090)
Policy acquisition and other operating expenses paid (77,035) (72,592)
Income taxes recovered 125 690
Investment income collected 89,984 93,426
Interest expense paid (399) (256)
Other 16,016 2,492
Net cash provided by operating activities 124,803 72,126
Fixed maturity securities    
Purchases (307,451) (308,450)
Sales 59,724 89,894
Maturities, paydowns, calls and redemptions 136,141 151,722
Equity securities    
Purchases (3,569) (2,208)
Sales and repayments 15,489 2,048
Limited partnership interests    
Purchases (8,842) (13,016)
Sales 9,858 3,996
Change in short-term and other investments, net (29,341) 42,310
Acquisition of business, net of cash acquired (18,198) 0
Net cash used in investing activities (146,189) (33,704)
Cash flows - financing activities    
Dividends paid to shareholders (11,790) (11,638)
Acquisition of treasury stock 0 (6)
Proceeds from exercise of stock options 583 1,136
Withholding tax payments on RSUs tendered (3,311) (2,061)
Annuity contracts: variable, fixed and FHLB funding agreements    
Deposits 157,305 98,837
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets (109,246) (112,272)
Life policy accounts    
Deposits 2,714 1,111
Withdrawals and surrenders (904) (1,329)
Change in book overdrafts (18,590) 4,124
Net cash provided by (used in) financing activities 16,761 (22,098)
Net increase (decrease) in cash (4,625) 16,324
Cash at beginning of period 11,906 7,627
Cash at end of period $ 7,281 $ 23,951