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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows From Operating Activities      
Net income (loss) $ 61,957 $ (29,700) $ 15,031
Adjustments to reconcile net income to net cash provided by operating activities      
Net accretion of bond premium 4,531 7,092 9,000
Depreciation and amortization 10,904 10,508 7,670
Stock-based compensation expense 5,517 3,246 2,826
Net investment (gains) losses 5,901 (1,547) 15,622
Net cash flows from trading investments 56,381 116,080 29,725
Deferred income tax benefit (8,391) (8,308) (3,930)
Changes in:      
Accrued investment income 139 (1,454) (1,084)
Premiums receivable 13,990 (99,062) (48,958)
Deferred policy acquisition costs (20,692) (22,307) (12,779)
Reinsurance receivables (7,559) (52,316) (43,138)
Prepaid reinsurance premiums (17,210) (16,382) (1,972)
Income taxes receivable 7,282 9,955 960
Other assets (2,277) (34,403) (8,136)
Losses, claims and loss settlement expenses 158,027 141,481 (16,991)
Unearned premiums 72,064 74,996 34,655
Accrued expenses and other liabilities 1,432 70,956 12,972
Deferred income taxes (1) 0 (652)
Other, net (1,691) 2,901 7,928
Net cash provided by (used in) operating activities 340,304 171,736 (1,251)
Cash Flows From Investing Activities      
Proceeds from sale of available-for-sale investments 491,771 77,388 83,559
Proceeds from call and maturity of available-for-sale investments 178,805 80,081 184,210
Proceeds from short-term and other investments 9,381 4,615 12,648
Purchase of available-for-sale investments (872,850) (273,081) (284,054)
Purchase of mortgage loans 0 (8,137) (103)
Purchase of short-term and other investments (87,724) (19,866) (13,294)
Net purchases and sales of property and equipment (11,870) (10,886) (2,137)
Net cash provided by (used in) investing activities (292,487) (149,886) (19,171)
Cash Flows From Financing Activities      
Debt note issuance 70,000 0 0
Debt note issuance costs (3,050) 0 0
Payment of cash dividends (16,212) (16,164) (15,860)
Issuance of common stock 348 (290) 828
Net cash provided by (used in) financing activities 51,086 (16,454) (15,032)
Net Change in Cash and Cash Equivalents 98,903 5,396 (35,454)
Cash and Cash Equivalents at Beginning of Year 102,046 96,650 132,104
Cash and Cash Equivalents at End of Year 200,949 102,046 96,650
Supplemental Cash Flow Information [Abstract]      
Income taxes paid 16,112 1,348 21,548
Interest paid $ 7,172 $ 3,260 $ 3,188