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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net cash provided by operating activities $ 208,061 $ 88,252
Investing activities    
Purchases of property and equipment (64) 0
Capitalized software costs (3,076) (2,848)
Purchases of fixed maturity securities (629,766) (235,549)
Purchases of equity securities (10,261) (202)
Sales and maturities of fixed maturity securities 492,146 187,217
Sales of equity securities 12,956 9,014
Change in securities receivable or payable, net (7,035) 6
Investments in limited partnerships (6,089) (2,641)
Acquisitions, net of cash acquired (61,509) 0
Net cash used in investing activities (212,698) (45,003)
Financing activities    
Net (payments on) proceeds from line of credit 0 (52,600)
Offering costs (related to prior year offering) (131) 0
Proceeds from common stock issued via employee stock purchase plan 526 434
Proceeds from common stock issued via stock option exercises 3,266 3,968
Policy holder contribution to surplus 1,752 1,116
Net cash provided by (used in) financing activities 5,413 (47,082)
Net decrease in cash, cash equivalents and restricted cash 776 (3,833)
Cash, cash equivalents and restricted cash at beginning of period 80,539 51,852
Cash, cash equivalents and restricted cash at end of period 81,315 48,019
Supplementary cash flow information:    
Cash paid for income taxes 24,717 23,728
Cash paid for interest 119 908
Cash and cash equivalents 81,297  
Restricted cash 18  
Cash and cash equivalents and restricted cash $ 81,315 $ 48,019