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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES    
Net income $ 5,473 $ 20,979
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,254 327
Bond amortization and accretion (832) 726
Net realized gains 11 (45)
Provision for uncollectible premiums/over and short 212 48
Deferred income taxes, net 3,902 263
Stock based compensation 985 121
Changes in operating assets and liabilities:    
Accrued investment income (345) (73)
Premiums receivable (12,570) (8,498)
Reinsurance recoverable on paid and unpaid losses (6,490) (580)
Prepaid reinsurance premiums (97,230) (76,628)
Deferred policy acquisition costs, net (11,238) (8,395)
Other assets (4,958) 356
Unpaid losses and loss adjustment expenses 10,812 3,497
Unearned premiums 33,034 25,687
Reinsurance payable 118,718 93,830
Other liabilities 12,616 (3,596)
Net cash provided by operating activities 53,354 48,019
INVESTING ACTIVITIES    
Proceeds from sales and maturities of investments available for sale 65,751 89,956
Purchases of investments available for sale (79,357) (143,507)
Cash from acquisition 14,467 0
Cost of property, equipment and capitalized software acquired (4,705) (1,295)
Net cash used in investing activities (3,844) (54,846)
FINANCING ACTIVITIES    
Tax withholding payment related to net settlement of equity awards (165) (110)
Repayments of borrowings (2,834) (588)
Dividends (2,150) (1,666)
Proceeds from issuance of common stock 0 54,041
Net cash provided by (used in) financing activities (5,149) 51,677
Increase in cash 44,361 44,850
Cash and cash equivalents at beginning of period 61,391 34,888
Cash and cash equivalents at end of period 105,752 79,738
Supplemental Cash Flows Information    
Interest paid 153 209
Income taxes paid $ 4,491 $ 19,221