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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES    
Net Income (Loss) $ 19,254 $ 21,348
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 861 1,722
Bond amortization and accretion 137 165
Net realized gains on investments (6) (1,379)
Net unrealized losses (gains) on equity securities (528) 1,963
Provision for uncollectable premiums 0 (7)
Provision for uncollectable reinsurance recoverables 6 21
Deferred income taxes, net (2,721) 2,896
Stock based compensation 1,129 733
Changes in operating assets and liabilities:    
Accrued investment income 60 (6)
Premiums receivable (6,272) (16,746)
Reinsurance recoverable on paid and unpaid losses 16,142 61,001
Ceded unearned premiums 18,975 41,826
Deferred policy acquisition costs, net (2,137) (6,875)
Other assets 11 1,833
Unpaid losses and loss adjustment expenses (38,711) (65,906)
Unearned premiums 8,262 39,087
Reinsurance payable on premiums (24,350) (33,653)
Accounts payable and accrued expenses 4,227 (21,214)
Operating lease liability (58) (25)
Other liabilities (17) (341)
Net cash provided by (used in) operating activities (5,736) 26,443
INVESTING ACTIVITIES    
Proceeds from sales, maturities and repayments of fixed maturities 3,839 10,499
Proceeds from sales, maturities and repayments of equity securities 0 9,998
Proceeds from sales, maturities and repayments of other investments 92 189
Purchases of Fixed maturities (6,330) (12,270)
Purchases of Equity securities (3,981) (2,999)
Purchases of Other investments (79) (117)
Cost of property, equipment and capitalized software acquired (136) (96)
Net cash provided by (used in) investing activities (6,595) 5,204
FINANCING ACTIVITIES    
Treasury stock (5,000) 0
Dividends (36,574) 0
Proceeds from issuance of common stock, including exercise of stock options 0 309
Net cash provided by (used in) financing activities (41,574) 309
Increase (decrease) in cash, cash equivalents and restricted cash, including cash classified as assets held for sale (53,905) 31,956
Cash, cash equivalents and restricted cash at beginning of period 292,854 222,290
Cash, cash equivalents and restricted at end of period 238,949 254,246
Supplemental Cash Flows Information    
Interest paid 0 0
State and Local Jurisdiction | Florida    
Supplemental Cash Flows Information    
State income taxes paid (refunded) (400) (987)
Federal    
Supplemental Cash Flows Information    
Interest paid 0 0
All other state    
Supplemental Cash Flows Information    
State income taxes paid (refunded) $ 4 $ (28)