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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net earnings $ 126,255 $ 103,346 $ 126,598
Adjustments to reconcile net earnings to net cash provided by operating activities      
Net realized investment gains (22,036) (25,372) (17,036)
Depreciation 3,765 3,145 3,177
Other items, net 13,104 7,732 (9,144)
Change in:      
Accrued investment income (1,307) (538) 2,577
Premiums and reinsurance balances receivable (net of direct write-offs and commutations) (13,154) (14,859) 14,303
Reinsurance balances payable 3,375 (6,902) 27,010
Funds held 5,023 (53,922) 78,483
Ceded unearned premium 12,785 (11,563) 2,025
Reinsurance balances recoverable on unpaid losses 4,960 (6,079) 358
Deferred policy acquisition costs (9,164) (239) (1,041)
Accrued expenses 9,663 (8,950) (17,619)
Unpaid losses and settlement expenses (29,050) 7,769 (95,616)
Unearned premiums 22,735 28,079 8,593
Income taxes      
Current 5,966 14,536 (1,440)
Deferred 6,065 3,781 7,464
Stock option excess tax benefit (6,310) (1,471) (4,210)
Changes in investment in unconsolidated investees:      
Undistributed earnings (10,915) (8,853) (6,497)
Dividends received 13,200 6,600  
Net proceeds from trading portfolio activity 6   6
Net cash provided by operating activities 134,966 36,240 117,991
Purchase of:      
Fixed income, held-to-maturity   (25,078) (209,300)
Fixed income, available-for-sale (545,899) (632,955) (450,813)
Equity securities, available-for-sale (31,010) (34,113) (87,346)
Short-term investments, net   (6,597)  
Property and equipment (25,407) (18,521) (5,382)
Acquisition of CBIC, net of cash acquired     (120,767)
Acquisition of Rockbridge Underwriting Agency   (15,500)  
Other   (400)  
Proceeds from sale of:      
Fixed income, available-for-sale 173,694 181,338 383,664
Equity securities, available-for-sale 73,982 78,315 40,092
Short-term investments, net 7,230   15,922
Property and equipment 9,368 3,913 1,424
Other 400    
Proceeds from call or maturity of:      
Fixed income, held-to-maturity 11,090 273,816 258,493
Fixed income, available-for-sale 224,620 248,134 261,654
Net cash provided by (used in) investing activities (101,932) 52,352 87,641
Cash flows from financing activities:      
Stock option excess tax benefit 6,310 1,471 4,210
Proceeds from stock option exercises 318 6,104 8,821
Proceeds from issuance of senior notes 149,571    
Payment on senior notes (99,504)    
Debt issue costs paid (1,437)    
Treasury shares purchased     (6,624)
Cash dividends paid (93,137) (133,037) (130,855)
Net cash used in financing activities (37,879) (125,462) (124,448)
Net increase (decrease) in cash (4,845) (36,870) 81,184
Cash at beginning of year 44,314 81,184  
Cash at end of year $ 39,469 $ 44,314 $ 81,184