CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 528,445	$ 673,906
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	29,004	42,826
Deferred tax expense (benefit)	(3,172)	1,900
Equity compensation	23,089	17,674
Loss on debt extinguishment	0	40,130
Net (gains) losses on investments and other financial instruments	13,380	8,776
Change in certain assets and liabilities:
Accrued investment income	(3,321)	(965)
Reinsurance recoverable on loss reserves	(12,694)	20,521
Reinsurance recoverable on paid losses	17,816	36,061
Premium receivable	394	(1,114)
Deferred insurance policy acquisition costs	3,157	1,696
Profit commission receivable	10,337	(1,497)
Loss reserves	(32,460)	(280,152)
Unearned premiums	(30,196)	(33,755)
Return premium accrual	(5,900)	(9,200)
Current income taxes	(2,130)	3,140
Other, net	(9,033)	(36,154)
Net cash provided by (used in) operating activities	526,716	483,793
Cash flows from investing activities:
Purchases of investments	(1,220,219)	(544,224)
Proceeds from sales of investments	294,202	391,394
Proceeds from maturity of fixed income securities	686,552	536,194
Proceeds from sale of equipment	166	0
Additions to property and equipment	(1,455)	(2,402)
Net cash provided by (used in) investing activities	(240,754)	380,962
Cash flows from financing activities:
Conversion/purchase of 9% convertible junior debentures	(28,637)	(88,908)
Redemption of 5.75% senior notes	0	(242,296)
Repayment of FHLB Advance	0	(155,000)
Cash portion of loss on debt extinguishment	0	(39,445)
Repurchase of common stock	(216,693)	(303,060)
Dividends paid	(91,174)	(81,288)
Payment of withholding taxes related to share-based compensation net share settlement	(7,246)	(9,958)
Net cash provided by (used in) financing activities	(343,750)	(919,955)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents	(57,788)	(55,200)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	332,913	304,958
Cash and cash equivalents and restricted cash and cash equivalents at end of period	$ 275,125	$ 249,758