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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 40,984 $ 16,621
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and depreciation 5,327 5,272
Amortization of debt issuance costs 198 198
Restricted stock and stock option expense 2,513 2,394
Deferred federal income taxes 5,198 (6,270)
Amortization of bond premium and discount, net 3,697 4,650
Net realized investment gains (11,290) (7,833)
Changes in:    
Premiums receivable, net (25,313) (255)
Reinsurance receivables, net 31,406 8,526
Funds held by ceding insurers 786 (7,059)
Unpaid losses and loss adjustment expenses (46,744) (26,057)
Unearned premiums 34,885 12,233
Ceded balances payable 21,437 5,761
Other assets and liabilities, net (9,929) 35,040
Contingent commissions (601) 92
Federal income tax receivable/payable (270) (426)
Deferred acquisition costs, net (9,185) (2,891)
Prepaid reinsurance premiums 2,831 5,875
Net cash provided by operating activities 45,930 45,871
Cash flows from investing activities:    
Proceeds from sale of fixed maturities 642,049 229,362
Proceeds from sale of equity securities 206,212 28,141
Proceeds from maturity of fixed maturities 113,480 43,303
Proceeds from other invested assets 14,201 8,352
Amounts received (paid) in connection with derivatives (12,516) 7,599
Purchases of fixed maturities (701,684) (329,002)
Purchases of equity securities (325,972) (22,931)
Purchases of other invested assets (3,500) (15,800)
Acquisition of business 0 (3,515)
Net cash used for investing activities (67,730) (54,491)
Cash flows from financing activities:    
Net borrowings (repayments) under margin borrowing facility 8,561 (12,825)
Dividends paid to shareholders (7,130) (10,510)
Purchases of A ordinary shares (947) (1,813)
Net cash provided by (used for) financing activities 484 (25,148)
Net change in cash and cash equivalents (21,316) (33,768)
Cash and cash equivalents at beginning of period 99,497 74,414
Cash and cash equivalents at end of period $ 78,181 $ 40,646