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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income $ (21,954) $ 31,650
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, net of accretion 4,734 5,036
(Increase) decrease in cash surrender value of BOLI (457) (453)
Net realized investment (gains) losses 28,673 (36,623)
Share-based compensation 1,011 1,228
Deferred income tax expense (benefit) (10,224) 6,618
Policy acquisition costs, net of amortization (net deferral) (599) (2,807)
Equity in (earnings) loss of unconsolidated subsidiaries 1,562 810
Distributed earnings from unconsolidated subsidiaries 1,585 1,938
Other (703) 1,337
Other changes in assets and liabilities:    
Premiums receivable (22,442) (27,660)
Reinsurance related assets and liabilities (4,623) (27,283)
Other assets 14,268 (1,447)
Reserve for losses and loss adjustment expenses (15,478) 39,148
Unearned premiums 30,202 42,396
Other liabilities (17,604) 504
Net cash provided (used) by operating activities (12,049) 34,392
Purchases of:    
Fixed maturities, available-for-sale (227,503) (179,107)
Fixed maturities, trading (407) (4,614)
Equity investments (23,136) (25,016)
Other investments (6,065) (4,602)
Funding of qualified affordable housing project tax credit partnerships (281) (247)
Investment in unconsolidated subsidiaries (17,180) (31,150)
Proceeds from sales or maturities of:    
Fixed maturities, available-for-sale 180,698 119,425
Equity investments 157,652 25,812
Other investments 6,026 4,738
Return of invested capital from unconsolidated subsidiaries 1,481 5,305
Net sales or maturities (purchases) of short-term investments (7,441) 90,698
Unsettled security transactions, net change 12,937 5,440
Purchases of capital assets (2,750) (2,572)
Other (2,206) (242)
Net cash provided (used) by investing activities 71,825 3,868
Financing Activities    
Proceeds (repayments) of Mortgage Loans (376) (362)
Dividends to shareholders (16,714) (43,338)
Capital contribution received from (return of capital to) external segregated portfolio cell participants 204 (562)
Other (1,090) (2,639)
Net cash provided (used) by financing activities (17,976) (46,901)
Increase (decrease) in cash and cash equivalents 41,800 (8,641)
Cash and cash equivalents at beginning of period 175,369 80,471
Cash and cash equivalents at end of period 217,169 71,830
Significant Non-Cash Transactions    
Dividends declared and not yet paid $ 16,691 $ 16,660