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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net cash provided by operating activities $ 121,929 $ 91,322
Investing Activities    
Purchase of property and equipment (703) (1,282)
Change in short-term investments, net (840) 0
Purchases – fixed-maturity securities (226,496) (105,010)
Purchases - equity securities (487) (3,282)
Sales – fixed-maturity securities 54,238 30,797
Sales – equity securities 1,625 0
Maturities and calls – fixed-maturity securities 36,953 45,053
Net cash used in investing activities (135,710) (33,724)
Financing Activities    
Payroll taxes withheld and remitted on share-based payments (516) 0
Proceeds from stock options exercised 378 339
Dividends paid (2,963) (2,495)
Net cash used in financing activities (3,101) (2,156)
Net change in cash and cash equivalents (16,882) 55,442
Cash and cash equivalents at beginning of period 121,040 77,093
Cash and cash equivalents at end of period $ 104,158 $ 132,535