XML 22 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
OPERATING ACTIVITIES    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 11,362 $ (16,856)
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 16,192 24,206
Bond amortization and accretion 3,822 3,663
Net realized gains (losses) 674 554
Unrealized Gain (Loss) on Investments (5,046) 0
Provision for uncollectable premiums/over and short 112 205
Deferred income taxes, net 3,232 380
Stock based compensation 1,675 1,931
Changes in operating assets and liabilities:    
Accrued investment income (194) (183)
Premiums receivable (3,254) 98
Reinsurance recoverable on paid and unpaid losses (37,780) (445,090)
Prepaid reinsurance premiums (118,012) (130,013)
Deferred policy acquisition costs, net (1,882) (35,841)
Other assets (1,473) (12,354)
Unpaid losses and loss adjustment expenses 46,610 480,777
Unearned premiums 87,667 76,758
Reinsurance payable 148,056 119,471
Payments outstanding 0 165
Accounts Payable 5,506 10,492
Other liabilities (44,715) 5,974
Net cash provided by operating activities 112,552 84,337
INVESTING ACTIVITIES    
Proceeds from sales and maturities of investments available for sale 176,019 106,150
Purchases of investments available for sale (276,483) (136,319)
Cash Acquired from Acquisition 0 95,284
Cost of property, equipment and capitalized software acquired (2,675) (4,243)
Net cash provided by (used in) investing activities (103,139) 60,872
FINANCING ACTIVITIES    
Investment in Subsidiary - NCI 20,000 0
Payments of Debt Issuance Costs (62) 0
Repayments of borrowings (849) (1,142)
Payments of Dividends (7,699) (6,426)
Net Cash Provided by (Used in) Financing Activities 20,393 (15,629)
Cash, Cash Equivalents, Restricted Cash Increase (decrease) 29,806 129,580
Cash, Cash Equivalents, Restricted Cash at beginning of period 276,275 150,688
Cash, Cash Equivalents, Restricted Cash at end of period 306,081 280,268
Supplemental Cash Flows Information    
Interest paid 4,990 2,001
Income taxes paid 4,673 4,206
Stock Issued $ 0 $ 274,384