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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net (loss) income after noncontrolling interests $ (9,078) $ 8,065
Net income attributable to noncontrolling interests 3,327 2,610
Net (loss) income (5,751) 10,675
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 8,579 6,497
Net (accretion of discount) amortization of premiums on investments in fixed-maturity securities (189) 144
Depreciation and amortization 3,495 2,928
Deferred income tax benefit (4,080) (3,732)
Net realized investment losses (gains) 320 (3,720)
Net unrealized investment losses (gains) 7,810 (1,220)
Credit loss expense - reinsurance recoverable (28) (28)
Net (income) loss from unconsolidated joint venture (495) 50
Net income from limited partnership interests (1,799) (2,359)
Distributions received from limited partnership interests 2,046 1,792
Foreign currency remeasurement loss 50 75
Other non-cash items (405) 21
Changes in operating assets and liabilities:    
Accrued interest and dividends receivable (1,068) 258
Income taxes 2,295 7,106
Premiums receivable, net 15,855 (739)
Prepaid reinsurance premiums (54,668) 35,614
Reinsurance recoverable 23,196 23,181
Deferred policy acquisition costs 9,390 (569)
Funds withheld for assumed business (8,752) (43,395)
Other assets (12,707) 9,773
Losses and loss adjustment expenses 1,659 (8,384)
Unearned premiums 3,396 40,443
Advance premiums 11,657 9,855
Reinsurance payable on paid losses and loss adjustment expenses 285 7,398
Ceded reinsurance premiums payable 5,323 9,206
Accrued expenses and other liabilities 16,215 (5,223)
Net cash provided by operating activities 21,629 95,647
Cash flows from investing activities:    
Investments in limited partnership interests (1,144) (700)
Distributions received from limited partnership interests 2,335 2,653
Purchase of property and equipment (4,229) (1,275)
Purchase of real estate investments (111) (331)
Purchase of intangible assets (3,800) 0
Purchase of fixed-maturity securities (377,638) (6,338)
Purchase of equity securities (16,383) (45,040)
Purchase of short-term and other investments 0 (1,058)
Proceeds from sales of real estate investments 667 0
Proceeds from sales of fixed-maturity securities 11,494 14,680
Proceeds from calls, repayments and maturities of fixed-maturity securities 4,020 16,677
Proceeds from sales of equity securities 24,427 56,511
Proceeds from sales, redemptions and maturities of short-term and other investments 267 2,026
Net cash (used in) provided by investing activities (360,095) 37,805
Cash flows from financing activities:    
Cash dividends paid (8,168) (6,605)
Cash dividends received under share repurchase forward contract 77 153
Net repayment under revolving credit facility (15,000) (23,750)
Proceeds from issuance of redeemable noncontrolling interest and warrants 0 100,000
Issuance costs - redeemable noncontrolling interest 0 (6,262)
Cash dividends paid to redeemable noncontrolling interest (2,508) 0
Proceeds from issuance of long-term debt 172,500 0
Repayment of long-term debt (501) (480)
Repurchases of common stock (68,103) (1,308)
Repurchases of common stock under share repurchase plan (1,884) 0
Purchase of noncontrolling interests (389) (58)
Debt issuance costs (5,757) (152)
Net cash provided by financing activities 70,267 61,538
Effect of exchange rate changes on cash (56) (45)
Net (decrease) increase in cash, cash equivalents, and restricted cash (268,255) 194,945
Cash, cash equivalents, and restricted cash at beginning of period 631,343 433,741
Cash, cash equivalents, and restricted cash at end of period 363,088 628,686
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 55 1,150
Cash paid for interest 943 3,492
Non-cash investing and financing activities:    
Unrealized loss on investments in available-for-sale securities, net of tax (4,413) (500)
Receivable from sales of equity securities 1,051 3,455
Payable on purchases of equity securities 1,050 32
Warrants issued in Centerbridge transaction 0 9,217
Acquisition of intangibles:    
Common stock issued 0 5,410
Contingent consideration payable $ 1,069 $ 2,419