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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 11,926 $ 6,781
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 4,746 4,649
Bond amortization and accretion 3,016 2,467
Net realized gains (losses) 9 (168)
Unrealized Gain (Loss) on Investments 5,904 (12,910)
Provision for uncollectable premiums/over and short 213 62
Deferred income taxes, net 7,147 3,785
Stock based compensation 781 1,578
Changes in operating assets and liabilities:    
Accrued investment income 86 (163)
Premiums receivable (26,798) (31,076)
Reinsurance recoverable on paid and unpaid losses 63,075 117,203
Ceded unearned premiums (228,804) (242,262)
Deferred policy acquisition costs, net (15,610) (19,080)
Other assets (11,504) (2,690)
Unpaid losses and loss adjustment expenses (76,886) (83,854)
Unearned premiums 86,076 126,483
Reinsurance payable 294,676 287,571
Payments outstanding (12,003) 12,150
Accounts Payable 9,469 (9,523)
Change in Operating Lease Liability 2,045 397
Other liabilities 21,756 17,878
Net cash provided by operating activities 139,320 179,278
INVESTING ACTIVITIES    
Proceeds from sales and maturities of fixed maturities 99,195 132,029
Proceeds from Sale of Available-for-sale Securities, Equity 7,341 1,690
Proceeds from Sale and Maturity of Other Investments 1,262 2,675
Payments to Acquire Fixed Maturities, Available-for-sale 208,091 112,031
Purchases of Equity securities (26,463) (6,514)
Payments to Acquire Other Investments 4,524 5,966
Cost of property, equipment and capitalized software acquired (7,616) (6,231)
Net cash provided by (used in) investing activities (138,896) 5,652
FINANCING ACTIVITIES    
Repayments of borrowings (762) (762)
Payments of Dividends (5,149) (5,139)
Net Cash Provided by (Used in) Financing Activities (5,911) (5,901)
Cash, Cash Equivalents, Restricted Cash at beginning of period 287,057 184,120
Cash, Cash Equivalents, Restricted Cash at end of period 281,570 363,149
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect (5,487) 179,029
Supplemental Cash Flows Information    
Interest Paid 4,793 4,888
Income taxes paid $ 878 $ 164