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Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 3,094 $ 1,980
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 19 68
Net amortization of premiums (discounts) on investments in fixed maturity securities 61 (39)
Depreciation and amortization 158 57
Deferred income taxes (benefit) 2,026 (136)
Realized gains on sales of investments (293) (505)
Gain on bargain purchase (936)  
Changes in operating assets and liabilities:    
Premiums receivable (4,441) (5,130)
Assumed reinsurance balances receivable 26 19,525
Advance premiums 5,786 5,948
Prepaid reinsurance premiums 8,921 (488)
Accrued interest and dividends receivable (6) 10
Income taxes receivable (3,033)  
Other assets (476) (463)
Assumed reinsurance balances payable 51 658
Deferred policy acquisition costs (655) 542
Losses and loss adjustment expenses 2,827 3,939
Unearned premiums 5,496 (2,369)
Income taxes payable (310) 457
Accrued expenses and other liabilities 4,568 3,664
Net cash provided by operating activities 22,883 27,718
Cash flows from investing activities:    
Cash consideration paid for acquired business (5,110)  
Purchase of property and equipment, net (1,843) (7,298)
Purchase of fixed maturity securities (14,165) (4,546)
Purchase of equity securities (5,330)  
Proceeds from sales of fixed maturity securities 19,614 12,242
Proceeds from sales of equity securities 1,106  
Increase in time deposits, net (273) (256)
Decrease in short-term investments, net   7,443
Net cash (used in) provided by investing activities (6,001) 7,585
Cash flows from financing activities:    
Net proceeds from the issuance of preferred stock 11,307  
Proceeds from the exercise of common stock options 363 100
Cash dividends paid (1,382)  
Repurchases of common stock (1,887) (2,595)
Excess tax benefit from common stock options exercised 124 39
Net cash provided by (used in) financing activities 8,525 (2,456)
Net increase in cash and cash equivalents 25,407 32,847
Cash and cash equivalents at beginning of period 54,849 43,453
Cash and cash equivalents at end of period 80,256 76,300
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 3,176 600
Cash paid for interest    
Non-cash investing activities:    
Unrealized (loss) gain on investments in available for sale securities, net of tax (16) 832
Fair value of net assets acquired in connection with business acquisition $ 5,685