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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income (loss) $ 25,882 $ 201,700 $ (61,833)
Adjustments to reconcile net income (loss) to net cash (used in) operating activities:      
Amortization of premium or discount on fixed maturity securities 116 227 574
Net realized loss (gain) on sale of investments 68 (24) (324)
Unrealized (gain) on trading securities (61) 41 463
(Gain) loss on derivative embedded conversion feature (28,242) (201,499) 54,621
Equity-based compensation 517 658 1,129
Changes in assets and liabilities:      
Accrued investment income 128 48 241
Other assets (51) 212 157
Cash equivalents held in trust (2,023) 1,511 7,435
Losses and loss adjustment reserves (337) (4,252) (13,884)
Losses payable (53) (352) (291)
Unearned premiums (231) (491) (333)
Accrued ceding commission expense (22) (11) (11)
Accrued interest on notes payable (203) (33) (102)
Loss contract reserve (5,645) (3,978) (2,926)
Other liabilities 3,740 (294) 904
Total adjustments (32,299) (208,237) 47,653
Net cash used in operating activities (6,417) (6,537) (14,180)
Cash flows from investing activities:      
Purchase of investments (19,974) (180,439) (269,694)
Proceeds from sales and maturities of investments 93,022 202,419 230,567
Net cash provided by (used in) investing activities 73,048 21,980 (39,127)
Cash flows from financing activities:      
Proceeds from issuance of preferred stock     600,000
Fees incurred and paid relating to preferred stock issuance     (19,310)
Redeemable convertible series B preferred stock dividends (18,050) (18,000) (16,998)
Notes payable – principal repayments (18,774) (2,969) (10,395)
Notes payable – principal issued     918
Net cash (used in) provided by financing activities (36,824) (20,969) 554,215
Increase (decrease) in cash and cash equivalents 29,807 (5,526) 500,908
Cash, cash equivalents and restricted cash, beginning of period 575,838 581,364 80,456
Cash, cash equivalents and restricted cash, end of period 605,645 575,838 581,364
Supplementary disclosure of cash flow information:      
Cash paid during the period, Interest 1,991 $ 2,647 2,887
Supplementary disclosure of non-cash investing and financing activities:      
Reclassification of derivative asset 108,893   66,227
Notes payable issued in lieu of cash interest payments     918
Redeemable convertible series B preferred stock dividends accrued     750
Accrued fees relating to series B preferred stock issuance $ (1,500)   $ 12,250