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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net cash provided by (used in) operating activities $ 82,916 $ (50,257)
Cash flows from investing activities:    
Proceeds from sale of property and equipment 50 9
Purchases of property and equipment (3,298) (690)
Purchases of equity securities (977) (9,356)
Purchases of available-for-sale debt securities (109,615) (26,236)
Proceeds from sales of equity securities 2,910 2,789
Proceeds from sales of available-for-sale debt securities 3,700 3,301
Maturities of available-for-sale debt securities 32,849 27,554
Net cash provided by (used in) investing activities (74,381) (2,629)
Cash flows from financing activities:    
Preferred stock dividend (3) (3)
Common stock dividend (4,639) (4,980)
Purchase of treasury stock inclusive of excise taxes paid (4,508) 0
Payments related to tax withholding for share-based compensation 0 (314)
Repayment of debt (368) (368)
Net cash provided by (used in) financing activities (9,518) (5,665)
Cash and cash equivalents and restricted cash and cash equivalents:    
Net increase (decrease) during the period (983) (58,551)
Balance, beginning of period 399,941 391,341
Balance, end of period 398,958 332,790
Cash and cash equivalents, and restricted cash and cash equivalents within the Consolidated Balance Sheets    
Cash and cash equivalents 396,323  
Restricted cash and cash equivalents [1] 2,635  
Total cash and cash equivalents and restricted cash and cash equivalents $ 398,958 $ 332,790
[1] See “—Note 5 (Insurance Operations)” for a discussion of the nature of the restrictions for restricted cash and cash equivalents.