XML 29 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash Flows from Operating Activities      
Net income (loss) $ (17) $ (6,939) $ 280
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization of property and equipment, and intangibles 398 371 268
Amortization of bond premium and discount, net 629 527 480
Gains on investments (285) (417) (299)
Other gains (104) 0 (3,714)
Incentive awards expenses - vesting of RSU 303 0 0
Deferred income taxes 0 (302) 4
Other (53) 14 0
Changes in operating assets and liabilities:      
Premiums and agents' balances receivable (3,765) (2,174) (5,147)
Reinsurance recoverables (1,905) (745) 3,584
Ceded unearned premiums 6,027 (8,106) (1,175)
Deferred policy acquisition costs (6,423) 68 (2,981)
Other assets (904) (526) 146
Unpaid losses and loss adjustment expenses 3,891 2,623 (1,955)
Unearned premiums 4,535 16,876 11,231
Reinsurance premiums payable (6,000) 6,080 786
Accounts payable and accrued expenses 1,015 172 663
Other liabilities (478) (1,217) 371
Net cash (used in) provided by operating activities (3,136) 6,305 2,542
Cash Flows From Investing Activities      
Fixed maturity securities (33,271) (44,632) (22,747)
Equity securities (1,507) (1,392) (658)
Short-term investments (83,842) (84,369) (44,030)
Proceeds from maturities and redemptions of investments:      
Fixed maturity securities 1,400 4,892 175
Proceeds from sales of investments:      
Fixed maturity securities 7,885 1,345 17,037
Equity securities 1,331 0 677
Short-term investments 94,200 76,900 44,662
Cash received from acquisitions, net of cash paid 0 0 8,832
Purchases of property and equipment (167) (444) (283)
Deconsolidation of affiliate (1,323) 0 0
Net cash used in investing activities (15,294) (47,700) 3,665
Cash Flows From Financing Activities      
Proceeds received from issuance of shares of common stock 36,066 28,475 0
Issuance of shares of common stock to noncontrolling interest 0 0 50
Proceeds from issuance of shares of preferred stock 0 6,060 0
Repurchase of preferred stock (6,275) 0 0
Borrowings under debt arrangements 4,400 18,500 1,350
Repayment of borrowings under debt arrangements (19,212) (4,075) (250)
Dividends paid to preferred shareholders (384) (191) 0
Payout of contingent consideration (113) (182) 0
Payment of offering costs (1,837) 0 0
Net cash provided by financing activities 12,645 48,587 1,150
Net (decrease) increase in cash (5,785) 7,192 7,357
Cash at beginning of period 18,488 11,296 3,939
Cash at end of period 12,703 18,488 11,296
Supplemental Disclosure of Cash Flow Information:      
Interest paid 844 510 364
Net income taxes paid $ 0 $ 0 $ 0