XML 18 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 3,986 $ 4,074
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization expense 1,100 948
Deferred federal income taxes (183) 280
Net realized losses (gains) (2,060) 227
Share-based payments expense 27 139
Change in ceded unearned premiums (876) (1,840)
Change in premiums receivable (4,781) (6,868)
Change in accounts receivable 561 (397)
Change in deferred policy acquisition costs 99 (371)
Change in unpaid losses and loss adjustment expenses 5,404 (1,749)
Change in unearned premiums 173 5,139
Change in reinsurance recoverable (767) (5,874)
Change in reinsurance balances payable 5,250 4,188
Change in current federal income tax payable (recoverable) 1,996 1,451
Change in all other liabilities (173) 277
Change in all other assets (917) (935)
Net cash provided by operating activities 8,839 (1,311)
Cash flows from investing activities:    
Purchases of property and equipment (712) (225)
Net transfers from (into) restricted cash 4,475 (211)
Purchases of investment securities (48,523) (58,384)
Maturities, sales and redemptions of investment securities 39,772 34,455
Net cash used in investing activities (4,988) (24,365)
Cash flows from financing activities:    
Proceeds from exercise of employee stock options 33  
Purchase of treasury shares (563) (1,293)
Net cash used in financing activities (530) (1,293)
Increase (decrease) in cash and cash equivalents 3,321 (26,969)
Cash and cash equivalents at beginning of period 79,632 114,446
Cash and cash equivalents at end of period 82,953 87,477
Supplemental cash flow information:    
Interest paid 1,151 1,131
Income taxes paid 39 184
Supplemental schedule of non-cash investing activities:    
Change in receivable for securities related to investment disposals that settled after the balance sheet date 1,793 9,486
Change in payable for securities related to investment purchases that settled after the balance sheet date $ (5,179) $ 1,813