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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
OPERATING ACTIVITIES    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ (21,434) $ 11,362
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 8,984 16,192
Bond amortization and accretion 3,884 3,822
Net realized gains (losses) (186) 674
Unrealized Gain (Loss) on Investments (15,519) (5,046)
Provision for uncollectable premiums/over and short 186 112
Deferred income taxes, net (4,584) 3,232
Stock based compensation 2,292 1,675
Changes in operating assets and liabilities:    
Accrued investment income (20) (194)
Premiums receivable 9,265 (3,254)
Reinsurance recoverable on paid and unpaid losses (22,374) (37,780)
Ceded unearned premiums (149,665) (118,012)
Deferred policy acquisition costs, net (9,576) (1,882)
Other assets (8,031) (1,473)
Unpaid losses and loss adjustment expenses 162,944 46,610
Unearned premiums 98,984 87,667
Reinsurance payable 146,722 148,056
Payments outstanding 227 9,003
Accounts Payable 8,153 5,506
Change in Operating Lease Liability 356 0
Other liabilities 17,513 (44,715)
Net cash provided by operating activities 228,121 121,555
INVESTING ACTIVITIES    
Proceeds from sales and maturities of fixed maturities 168,342 152,461
Proceeds from Sale of Equity securities 1,978 2,471
Proceeds from Sale and Maturity of Other Investments 5,461 1,087
Proceeds from Collection of Policy Loans   20,000
Payments to Acquire Fixed Maturities, Available-for-sale 200,208 248,652
Purchases of Equity securities (11,011) (26,731)
Payments to Acquire Other Investments 6,395 1,100
Cost of property, equipment and capitalized software acquired (16,437) (2,675)
Net cash provided by (used in) investing activities (58,270) (103,139)
FINANCING ACTIVITIES    
Investment in Subsidiary - NCI 0 20,000
Payments of Debt Issuance Costs 0 (62)
Repayments of borrowings (849) (849)
Payments of Dividends (7,710) (7,699)
Net Cash Provided by (Used in) Financing Activities (8,559) 11,390
Cash, Cash Equivalents, Restricted Cash Increase (decrease) 161,292 29,806
Cash, Cash Equivalents, Restricted Cash at beginning of period 184,120 276,275
Cash, Cash Equivalents, Restricted Cash at end of period 345,412 306,081
Supplemental Cash Flows Information    
Interest Paid 4,930 4,990
Income taxes paid $ 284 $ 4,673