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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ (924) $ 10,188
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 3,467 2,927
Deferred federal income taxes (1,903) 196
Net realized (gains) losses (691) 1,299
Share-based payments expense 97 (21)
Change in ceded unearned premiums (22,488) (16,162)
Change in premiums receivable (11,943) (12,121)
Change in accounts receivable 335 (128)
Change in deferred policy acquisition costs (52) (335)
Change in unpaid losses and loss adjustment expenses 49,932 4,122
Change in unearned premiums 38,233 31,897
Change in reinsurance recoverable (34,140) (19,192)
Change in reinsurance balances payable 10,535 16,062
Change in current federal income tax recoverable 1,918 2,780
Change in all other liabilities (1,495) 468
Change in all other assets 3,448 3,552
Net cash provided by operating activities 34,329 25,532
Cash flows from investing activities:    
Purchases of property and equipment (1,576) (3,658)
Net transfers from (into) restricted cash 3,984 (2,634)
Purchases of investment securities (196,976) (167,062)
Maturities, sales and redemptions of investment securities 175,527 110,407
Net cash used in investing activities (19,041) (62,947)
Cash flows from financing activities:    
Payment of contingent consideration   (1,784)
Proceeds from exercise of employee stock options 158 466
Purchase of treasury shares (5,308) (5,792)
Net cash used in financing activities (5,150) (7,110)
Increase (decrease) in cash and cash equivalents 10,138 (44,525)
Cash and cash equivalents at beginning of period 79,632 114,446
Cash and cash equivalents at end of period 89,770 69,921
Supplemental cash flow information:    
Interest paid 3,505 3,143
Income taxes paid 304 1,488
Supplemental schedule of non-cash investing activities:    
Change in receivable for securities related to investment disposals that settled after the balance sheet date 1,338 9,739
Change in payable for securities related to investment purchases that settled after the balance sheet date $ (6,580) $ 2,858