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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows - operating activities      
Premiums collected $ 760,367 $ 739,503 $ 710,646
Policyholder benefits paid (590,479) (528,501) (511,017)
Policy acquisition and other operating expenses paid (305,000) (283,351) (277,076)
Income taxes paid (8,679) (16,259) (27,847)
Investment income collected 373,568 363,283 344,778
Interest expense paid (12,532) (11,555) (11,754)
Other (16,357) (6,534) (16,297)
Net cash provided by operating activities 200,888 256,586 211,433
Fixed maturity securities      
Purchases (1,428,889) (1,569,220) (1,566,047)
Sales 625,527 500,760 429,251
Maturities, paydowns, calls and redemptions 737,535 927,665 799,653
Equity securities      
Purchases (13,430) (32,312) (60,135)
Sales and repayments 25,498 53,100 21,210
Limited partnership interests      
Purchases (93,545) (103,200) (70,177)
Sales 16,997 20,234 12,418
Change in short-term and other investments, net (56,192) (25,691) 108,467
Net cash used in investing activities (186,499) (228,664) (325,360)
Cash flows - financing activities      
Dividends paid to shareholders (46,689) (46,114) (44,310)
FHLB borrowings 0 50,000 0
Acquisition of treasury stock (5,088) (1,660) (21,513)
Proceeds from exercise of stock options 3,627 4,190 3,329
Withholding tax payments on RSUs tendered (3,165) (3,245) (4,015)
Annuity contracts: variable, fixed and FHLB funding agreements      
Deposits 489,097 453,146 520,211
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets (473,003) (411,061) (349,915)
Transfer of Company 401(k) to a third-party provider 0 (77,898) 0
Life policy accounts      
Deposits 8,149 4,883 4,018
Withdrawals and surrenders (4,910) (4,458) (3,965)
Change in book overdrafts 21,872 (4,748) 11,248
Net cash provided by (used in) financing activities (10,110) (36,965) 115,088
Net increase (decrease) in cash 4,279 (9,043) 1,161
Cash at beginning of period 7,627 16,670 15,509
Cash at end of period $ 11,906 $ 7,627 $ 16,670