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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net income $ 77,865 $ 70,462 $ 53,666
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 1,181 1,348 1,298
Net amortization of investments 16,247 16,424 15,243
Deferred income taxes (2,249) 1,446 (1,412)
Net realized (gains) losses on investments 509 2,494 (697)
Net realized losses on disposal of assets 1 664  
Share-based compensation 1,603 1,223 1,519
Changes in operating assets and liabilities:      
Premiums receivable, net 2,359 (6,447) (7,338)
Accrued interest receivable 325 (48) (395)
Deferred policy acquisition costs 1,112 (763) (478)
Amounts held by others 1,016 (27,847) (1,082)
Other assets 1,631 (1,042) (4,306)
Reserves for loss and loss adjustment expenses 24,743 30,431 73,045
Unearned premiums (5,955) (593) 4,280
Reinsurance balances 7,285 (5,878) (10,326)
Amounts held for others and policyholder deposits (17,066) 6,621 11,190
Accounts payable and other liabilities 3,605 4,364 6,477
Net cash provided by operating activities 114,212 92,859 140,684
Investing activities      
Purchases of investments held-to-maturity (102,830) (178,010) (223,028)
Purchases of investments available-for-sale (216,466) (135,915) (149,956)
Purchases of short-term investments (35,295) (12,246) (79,957)
Proceeds from maturities of investments held-to-maturity 177,159 160,834 112,100
Proceeds from sales and maturities of investments available-for-sale 115,552 78,637 72,535
Proceeds from sales and maturities of short-term investments 13,040 37,833 128,043
Purchases of property and equipment (1,638) (953) (989)
Net cash (used in) provided by investing activities (50,478) (49,820) (141,252)
Financing activities      
Proceeds from stock option exercises 837 1,844 2,674
Tax benefit from share-based payments 995 2,203 2,841
Dividends to shareholders (76,111) (68,561) (37,068)
Net cash used in financing activities (74,279) (64,514) (31,553)
Change in cash and cash equivalents (10,545) (21,475) (32,121)
Cash and cash equivalents at beginning of year 69,481 90,956 123,077
Cash and cash equivalents at end of year 58,936 69,481 90,956
Supplemental disclosure of cash flow information      
Income taxes paid $ 31,500 $ 23,851 $ 19,926