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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income (loss) $ 2,065 $ (11,174)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation and amortization expense 3,603 4,103
Deferred federal income taxes (2,241) (2,737)
Net realized gains (1,854) (3,177)
Shared-based payments expense 317 584
Change in ceded unearned premiums (2,524) 6,819
Change in premiums receivable (15,669) (10,283)
Change in accounts receivable 586 2,515
Change in deferred policy acquisition costs (3,854) (2,642)
Change in unpaid losses and loss adjustment expenses 18,662 29,344
Change in unearned premiums 21,690 9,493
Change in reinsurance recoverable (7,375) (1,117)
Change in reinsurance payable 2,837 (940)
Change in current federal income tax recoverable 6,915 (2,930)
Change in all other liabilities (1,180) (7,297)
Change in all other assets 6,209 4,447
Net cash provided by operating activities 28,187 15,008
Cash flows from investing activities:    
Purchases of property and equipment (366) (1,799)
Net transfers from restricted cash 1,126 1,097
Payment for acquisition of subsidiaries 0 (13,334)
Purchases of investment securities (103,434) (234,994)
Maturities, sales and redemptions of investment securities 110,772 229,796
Net cash provided by (used in) investing activities 8,098 (19,234)
Cash flows from financing activities:    
Proceeds from exercise of employee stock options 0 99
Purchase of treasury shares 0 (6,401)
Activity under revolving credit facility (2,577) (410)
Payment of contingent consideration (350) 0
Distribution to non-controlling interest (147) (165)
Net cash used in financing activities (3,074) (6,877)
Increase (decrease) in cash and cash equivalents 33,211 (11,103)
Cash and cash equivalents at beginning of period 74,471 60,519
Cash and cash equivalents at end of period 107,682 49,416
Supplemental cash flow information:    
Interest paid 3,464 3,468
Income taxes paid (recovered) (5,951) (3,381)
Supplemental schedule of non-cash investing activities:    
Change in receivable for securities related to investment disposals that settled after the balance sheet date (1,566) 2,204
Change in payable for securities related to investment purchases that settled after the balance sheet date $ 6,546 $ 3,284