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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (5,591) $ (13,203)
Less net loss from discontinued operations, net of income taxes (1,512)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Net investment gains (459) (876)
Deferred income tax benefit (1,452) (491)
Depreciation of property and equipment 344 341
Share-based compensation 724 1,136
Amortization of deferred policy acquisition costs 32,902 36,107
Deferral of policy acquisition costs (32,922) (40,474)
Net amortization of premiums and discounts on investments 174 331
Gain on sale of property and equipment (9) (72)
Changes in operating assets and liabilities:    
Premiums and agents’ balances receivable (32,697) (36,677)
Reinsurance premiums receivable / payable 7,603 (491)
Reinsurance recoverables on losses (38,717) (2,963)
Income tax recoverable / payable (3,382) (8,216)
Accrued investment income (69) (148)
Federal Crop Insurance Corporation receivable / payable 1,891 3,611
Other assets (61) (2,041)
Unpaid losses and loss adjustment expenses 66,242 29,342
Unearned premiums 16,391 31,630
Accrued expenses and other liabilities 5,377 6,658
Net cash flows from operating activities – continuing operations 21,880 16,707
Net cash flows from operating activities – discontinued operations 10,493
Net cash flows from operating activities – loss on sale of discontinued operations 19,251
Total adjustments 21,880 46,451
Net cash flows from operating activities 16,289 34,760
Cash flows from investing activities:    
Proceeds from maturities and sales of fixed income securities 13,714 15,596
Proceeds from sales of equity securities 3,098 3,827
Purchases of fixed income securities (23,641) (32,239)
Purchases of equity securities (3,255) (3,935)
Purchases of property and equipment (182) (630)
Proceeds from sales of property and equipment 20 227
Proceeds from disposition of Westminster 10,500
Net cash flows from investing activities – continuing operations (10,246) (6,654)
Net cash flows from investing activities – discontinued operations 2,878
Net cash flows from investing activities (10,246) (3,776)
Cash flows from financing activities:    
Pooling (payments) receipts (7,058)
Principal repayments of finance leases (53) (48)
Issuance of vested award shares (136) (154)
Net cash flows from financing activities – continuing operations (189) (7,260)
Net cash flows from financing activities – discontinued operations 7,058
Net cash flows from financing activities (189) (202)
Net change in cash and cash equivalents 5,854 30,782
(Increase) decrease in cash and cash equivalents – discontinued operations (20,429)
Net increase (decrease) in cash and cash equivalents – continuing operations 5,854 10,353
Cash and cash equivalents at beginning of period – continuing operations 50,930 41,037
Cash and cash equivalents at end of period – continuing operations 56,784 51,390
Federal and state income taxes paid (net of refunds received) $ 2,975 $ 2,848