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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net income (loss) from continuing operations $ 45,494 $ 53,729 $ (6,904)
Net (loss) income from discontinued operations (6,604) 814 (37,089)
Net (loss) income from discontinued operations (6,604) 814 (37,089)
Net income (loss) 38,890 54,543 (43,993)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Provision for deferred taxes 12,322 14,242 37,369
Realized investment (gains) losses, net (770) 1,557 (4,204)
Net limited partnerships (gains) (3,101) (1,081) (3,240)
Net accretion from bonds and commercial loans (2,622) (6,083) (2,364)
Depreciation and amortization 8,737 7,351 7,615
Stock based compensation 8,578 916 1,089
Changes in:      
Premiums and other receivables 10,343 (16,013) (15,956)
Receivable from reinsurers on paid losses and reinsurance receivable from unpaid losses 290 20,653 (12,849)
Ceded reinsurance payable 4,487 (5,167) 15,632
Accrued investment income (1,331) (2,870) (4,056)
Deferred policy acquisition costs (5,199) (32,854) 15,813
Prepaid reinsurance premiums 1,765 78,324 (92,054)
Unpaid losses and loss adjustment expenses 124,836 138,575 91,618
Reserve for unearned premiums 47,290 40,501 40,603
Funds withheld related to sale of affiliate (56) 7,376 (26,988)
Funds held under reinsurance agreements (4,310) (49,095) 91,671
Other assets 23,938 (15,092) (8,992)
Other liabilities (17,036) (2,377) 48,463
Total adjustments 208,161 178,863 179,170
Net cash provided by operating activities - continuing operations 253,655 232,592 172,266
Net cash used in operating activities - discontinued operations (359) (900) (98,396)
Net cash provided by operating activities 253,296 231,692 73,870
Investing activities      
Purchases of available-for-sale fixed income securities (570,726) (509,970) (1,236,581)
Sales of available-for-sale fixed income securities 145,053 173,768 719,916
Redemptions of available-for-sale fixed income securities 157,860 81,417 257,102
Purchases of commercial levered loans   (7,101) (3,150)
Redemptions of commercial levered loans 2,815 14,698 8,858
Purchases of limited partnerships (15,407) (33,580) (45,251)
Distributions and redemptions from limited partnerships 5,280 22,832 40,270
Purchases of short-term investments (358,296) (172,787) (180,400)
Sales of short-term investments 351,761 140,623 238,291
Acquisition of fixed assets and capitalized software (6,535) (8,489) (11,884)
Net cash used in investing activities - continuing operations (288,195) (298,589) (212,829)
Net cash (used in) provided by investing activities - discontinued operations (421) 637 52,356
Net cash used in investing activities (288,616) (297,952) (160,473)
Financing activities      
Proceeds from notes payable   18,000  
Repayment of notes payable (18,000)    
Tax withholding on stock compensation awards (740)    
Proceeds from shares issued 50,878   32
Capital contributions     49,968
Net cash provided by financing activities 32,138 18,000 50,000
Net change in cash and cash equivalents (3,182) (48,260) (36,603)
Cash, cash equivalents and restricted cash at beginning of year - continuing operations 29,900 77,872 75,211
Cash, cash equivalents and restricted cash at beginning of year - discontinued operations 1,034 1,322 40,586
Less: cash, cash equivalents and restricted cash at end of year - discontinued operations (255) (1,034) (1,322)
Cash, cash equivalents and restricted cash at end of year $ 27,497 $ 29,900 $ 77,872