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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
OPERATING ACTIVITIES    
Net Income (loss) $ 8,369 $ 3,899
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 10,658 1,997
Bond amortization and accretion 1,396 1,042
Net realized gains (losses) (211) 351
Unrealized Gain (Loss) on Investments 2,444 0
Provision for uncollectable premiums/over and short (199) 80
Deferred income taxes, net (4,031) (2,703)
Stock based compensation 487 642
Changes in operating assets and liabilities:    
Accrued investment income 89 90
Premiums receivable (3,822) 1,129
Reinsurance recoverable on paid and unpaid losses (100,845) (11,760)
Prepaid reinsurance premiums 74,016 39,819
Deferred policy acquisition costs, net (4,211) 1,667
Other assets (2,718) 3,166
Unpaid losses and loss adjustment expenses 62,017 247
Unearned premiums 667 (13,223)
Reinsurance payable (63,038) (42,931)
Payments outstanding 280 (8)
Accounts Payable 4,810 (1,956)
Other liabilities (1,926) 13,521
Net cash provided by operating activities (15,768) (4,931)
INVESTING ACTIVITIES    
Proceeds from sales and maturities of investments available for sale 43,144 40,710
Purchases of investments available for sale (95,982) (50,480)
Cost of property, equipment and capitalized software acquired (1,010) (208)
Net cash provided by (used in) investing activities (53,848) (9,978)
FINANCING ACTIVITIES    
Repayments of borrowings (444) (381)
Payments of Dividends (2,565) (1,301)
Proceeds from (Repayments of) Bank Overdrafts 13,053 (9,878)
Net Cash Provided by (Used in) Financing Activities 10,044 (11,560)
Increase in cash (59,572) (26,469)
Cash and cash equivalents at beginning of period 276,275 150,688
Cash and cash equivalents at end of period 216,703 124,219
Supplemental Cash Flows Information    
Interest paid 99 743
Income taxes paid $ 1,551 $ 814