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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 18,417 $ 9,662
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization expense 2,346 2,822
Deferred federal income taxes (1,311) (182)
Net realized (gains) losses (3,688) 122
Share-based payments expense 526 87
Change in ceded unearned premiums (10,739) (17,001)
Change in premiums receivable (15,874) (11,315)
Change in accounts receivable 900 (372)
Change in deferred policy acquisition costs (364) 1,921
Change in unpaid losses and loss adjustment expenses 36,248 32,112
Change in unearned premiums 21,764 19,881
Change in reinsurance recoverable (6,623) (28,619)
Change in reinsurance balances payable 6,429 12,049
Change in current federal income tax payable (446) (1,407)
Change in all other liabilities (3,599) 941
Change in all other assets (885) 1,009
Net cash provided by operating activities 43,101 21,710
Cash flows from investing activities:    
Purchases of property and equipment (2,569) (809)
Net transfers from restricted cash (6,611) (4,692)
Purchases of investment securities (167,677) (108,753)
Maturities, sales and redemptions of investment securities 98,344 113,758
Net cash used in investing activities (78,513) (496)
Cash flows from financing activities:    
Activity under revolving credit facility, net   (1,473)
Payment of contingent consideration (1,216)  
Proceeds from exercise of employee stock options 602 15
Purchase of treasury shares (1,910) (1,395)
Net cash used in financing activities (2,524) (2,853)
(Decrease) increase in cash and cash equivalents (37,936) 18,361
Cash and cash equivalents at beginning of period 130,985 141,666
Cash and cash equivalents at end of period 93,049 160,027
Supplemental cash flow information:    
Interest paid 3,043 3,435
Income taxes paid 10,139 5,109
Supplemental schedule of non-cash investing activities:    
Change in receivable for securities related to investment disposals that settled after the balance sheet date 1,422 1,505
Change in payable for securities related to investment purchases that settled after the balance sheet date $ (2,948) $ (9,880)