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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
OPERATING ACTIVITIES    
Net income $ 13,556 $ 29,619
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,093 518
Bond amortization and accretion (286) 1,101
Net realized gains (312) 24
Provision for uncollectable premiums/over and short 314 60
Deferred income taxes, net 3,892 (1,112)
Stock based compensation 1,525 230
Changes in operating assets and liabilities:    
Accrued investment income (326) (95)
Premiums receivable (13,838) (7,929)
Reinsurance recoverable on paid and unpaid losses (736) (1,271)
Prepaid reinsurance premiums (56,830) (41,975)
Deferred policy acquisition costs, net (15,003) (8,578)
Other assets (9,581) 280
Unpaid losses and loss adjustment expenses 15,117 5,962
Unearned premiums 60,286 29,901
Reinsurance payable 72,188 55,977
Other liabilities 11,136 (3,513)
Net cash provided by operating activities 83,195 59,199
INVESTING ACTIVITIES    
Proceeds from sales and maturities of investments available for sale 113,377 145,059
Purchases of investments available for sale (173,336) (204,429)
Cash from acquisition 14,467 0
Cost of property, equipment and capitalized software acquired (8,218) (1,948)
Net cash used in investing activities (53,710) (61,318)
FINANCING ACTIVITIES    
Tax withholding payment related to net settlement of equity awards (181) (110)
Repayments of borrowings (3,128) (882)
Dividends (3,226) (2,500)
Proceeds from issuance of common stock 0 54,041
Net cash provided by (used in) financing activities (6,535) 50,549
Increase in cash 22,950 48,430
Cash and cash equivalents at beginning of period 61,391 34,888
Cash and cash equivalents at end of period 84,341 83,318
Supplemental Cash Flows Information    
Interest paid 230 301
Income taxes paid $ 6,920 $ 21,464