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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net income $ (55,688) $ 17,892
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Net accretion of bond premium 3,491 5,101
Depreciation and amortization 5,182 3,411
Stock-based compensation expense 2,175 1,762
Net investment (gains) losses 312 21,397
Net cash flows from equity and trading investments 39,553 29,161
Deferred income tax expense (benefit) (6,433) (6,602)
Changes in:    
Accrued investment income (258) (683)
Premiums receivable (97,957) (56,235)
Deferred policy acquisition costs (18,424) (12,644)
Reinsurance receivables (23,913) (7,712)
Prepaid reinsurance premiums (1,670) (1,295)
Income taxes receivable (11,432) (1,270)
Other assets (248) (2,444)
Losses and loss settlement expenses 117,558 (54,437)
Unearned premiums 63,249 37,880
Accrued expenses and other liabilities 16,997 6,808
Other, net 5,370 4,036
Cash from operating activities 93,552 (33,766)
Net cash provided by (used in) operating activities 37,864 (15,874)
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 43,809 65,010
Proceeds from call and maturity of available-for-sale investments 28,036 104,349
Proceeds from sale of other investments 2,111 2,382
Purchase of investments in mortgage loans (8,137) (103)
Purchase of investments available-for-sale (94,204) (186,520)
Purchase of other investments (12,511) (3,344)
Net purchases and sales of property and equipment (5,617) 697
Net cash provided by (used in) investing activities (46,513) (17,529)
Cash Flows From Financing Activities    
Issuance of common stock (218) 1,028
Payment of cash dividends (8,079) (7,795)
Net cash provided by (used in) financing activities (8,297) (6,767)
Net Change in Cash and Cash Equivalents (16,946) (40,170)
Cash and Cash Equivalents at Beginning of Period 96,650 132,104
Cash and Cash Equivalents at End of Period 79,704 91,934
Supplemental Disclosures of Cash Flow Information    
Income taxes paid 1,324 21,525
Interest paid $ 1,594 $ 1,594