XML 14 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities    
Net income (loss) $ (3,561) $ (3,738)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 321 193
Amortization of bond premium and discount, net (327) (362)
Net realized investment (gains) losses 118  
Change in fair value of equity securities 153 (682)
Stock-based compensation expenses 70 103
Equity loss (earnings) in Affiliate, net of tax (286) 175
(Increase) decrease in:    
Premiums and agents' balances and other receivables (1,341) (3,961)
Reinsurance recoverables 454 26,971
Prepaid reinsurance premiums 15,414 (8,045)
Deferred policy acquisition costs 1,679 790
Other assets (78) 64
Increase (decrease) in:    
Unpaid losses and loss adjustment expenses 174 (20,535)
Unearned premiums (20,330) 10,581
Funds held under reinsurance agreements (948) (6,086)
Reinsurance premiums payable 1,162 5,879
Premiums payable to other insureds 5,313  
Accounts payable and other liabilities 61 (2,794)
Net cash provided by (used in) operating activities (1,952) (1,447)
Cash Flows From Investing Activities    
Purchase of investments (97,960) (120,578)
Proceeds from maturities and redemptions of investments 4,539 5,651
Proceeds from sales of investments 94,779 108,041
Obligation to SSU   (934)
Net cash provided by (used in) investing activities 1,358 (7,820)
Cash Flows From Financing Activities    
Repurchase of common stock   (3)
Dividends paid to shareholders (334)  
Repayment of long-term debt (500)  
Net cash provided by (used in) financing activities (834) (3)
Net increase (decrease) in cash (1,428) (9,270)
Cash at beginning of period 11,125 28,035
Cash at end of period 9,697 18,765
Supplemental Disclosure of Cash Flow Information:    
Interest paid 1,876 1,506
Income taxes paid (refunded), net $ 0 $ (17)