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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Management fee received $ 760,565 $ 664,288
Administrative services reimbursements received 221,955 209,846
Service agreement revenue received 6,432 6,514
Net investment income received 19,326 15,950
Commissions paid to agents (370,528) (315,059)
Incentive compensation paid to agents (79,017) (72,413)
Salaries and wages paid (79,844) (82,203)
Pension contribution and employee benefits paid (60,501) (54,376)
General operating expenses paid (81,938) (80,064)
Administrative services expenses paid (218,352) (208,432)
Income taxes recovered 20 3,142
Net cash provided by operating activities 118,118 87,193
Purchase of investments:    
Available-for-sale securities (131,330) (77,530)
Equity securities (6,946) (7,137)
Proceeds from investments:    
Available-for-sale securities sales 34,721 25,922
Available-for-sale securities maturities/calls 34,278 46,926
Equity securities 11,646 6,927
Purchase of fixed assets (29,674) (22,446)
Loans to agents and others (12,568) (2,507)
Collections on agent and other loans 2,113 2,846
Net cash used in investing activities (97,760) (26,999)
Cash flows from financing activities    
Dividends paid to shareholders (63,569) (59,377)
Net changes in cash collateral for securities lent 5,193 0
Net cash used in financing activities (58,376) (59,377)
Net (decrease) increase in cash, cash equivalents and restricted cash (38,018) 817
Cash, cash equivalents and restricted cash, beginning of period 298,397 144,055
Cash, cash equivalents and restricted cash, end of period 260,379 144,872
Supplemental disclosure of noncash transactions    
Liability incurred to purchase fixed assets 844 16,382
Operating lease assets obtained in exchange for lease liabilities $ 1,319 $ 2,872