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Condensed Consolidated Statements of Cash Flows(Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 15,556 $ 16,311
Adjustments to reconcile net income to net cash provided by operating activities 91,651 29,571
Net cash provided by operating activities 107,207 45,882
Cash flows from investing activities:    
Purchase of fixed maturity securities, available-for-sale (72,466) (23,370)
Purchase of illiquid investments (286) (2,376)
Purchase of equity securities (12,889) (25,221)
Proceeds from (investment in) direct and indirect loans 14,665 (8,019)
Purchase of property and equipment (614) (431)
Sales and maturities of investment securities 34,980 33,935
Distributions from equity method investments 355 1,326
Change in short-term investments (166,193) (38,631)
Receivable for securities sold 3,984 5,671
Cash provided by deposit accounting 5,038 1,518
Other, net 0 2
Net cash used in investment activities (193,426) (55,596)
Cash flows from financing activities:    
Repayment of stock notes receivable 193 186
Draw on revolving line of credit 50,000 0
Repayment of term loan (50,000) 0
Proceeds from initial public offering 66,262 0
Net cash provided by financing activities 66,455 186
Net decrease in cash and cash equivalents and restricted cash (19,764) (9,528)
Cash and cash equivalents and restricted cash at beginning of period 125,011 107,274
Cash and cash equivalents and restricted cash at end of period 105,247 97,746
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 3,145 $ 1,124