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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net cash provided by (used in) operating activities $ 116,675 $ 153,029
Cash flows from investing activities    
Fixed-maturities available for sale 128,072 154,423
Trading securities 0 7,952
Equity securities 4,535 1,839
Fixed-maturities available for sale 223,937 295,707
Trading securities 25,547 8,965
Fixed-maturities available for sale (514,582) (481,051)
Equity securities (5,382) (38,110)
Short-term investments, net 70,153 (32,311)
Other assets and other invested assets, net 0 2,721
Purchases of property and equipment (4,075) (2,073)
Net cash provided by (used in) investing activities (71,795) (81,938)
Cash flows from financing activities    
Dividends and dividend equivalents paid (35,354) (24,095)
Issuance of common stock 331 340
Repurchases of common stock (18,988) (8,637)
Credit facility commitment fees paid (189) (234)
Change in secured borrowings, net (with terms three months or less) (7,796) 16,152
Proceeds from secured borrowings (with terms greater than three months) 3,000 3,000
Repayments of secured borrowings (with terms greater than three months) (5,000) (28,000)
Net cash provided by (used in) financing activities (63,996) (41,474)
Increase (decrease) in cash and restricted cash (19,116) 29,617
Cash and restricted cash, beginning of period 152,620 94,146
Cash and restricted cash, end of period $ 133,504 $ 123,763