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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Management fee received $ 802,892 $ 760,565
Administrative services reimbursements received 199,831 221,955
Service agreement revenue received 5,941 6,432
Net investment income received 22,837 19,326
Commissions paid to agents (389,960) (370,528)
Incentive compensation paid to agents (134,249) (79,017)
Salaries and wages paid (76,066) (79,844)
Pension contribution and employee benefits paid (65,201) (60,501)
General operating expenses paid (69,161) (81,938)
Administrative services expenses paid (204,965) (218,352)
Income taxes (paid) recovered (7) 20
Net cash provided by operating activities 91,892 118,118
Purchase of investments:    
Available-for-sale securities (187,180) (131,330)
Equity securities (3,168) (6,946)
Proceeds from investments:    
Available-for-sale securities sales 106,790 34,721
Available-for-sale securities maturities/calls 39,998 34,278
Equity securities 4,239 11,646
Purchase of fixed assets (37,414) (29,674)
Loans to agents and others (14,811) (12,568)
Collections on agent and other loans 2,820 2,113
Net cash used in investing activities (88,726) (97,760)
Cash flows from financing activities    
Dividends paid to shareholders (68,109) (63,569)
Net changes in cash collateral for securities lent (12,315) 5,193
Net cash used in financing activities (80,424) (58,376)
Net decrease in cash, cash equivalents and restricted cash (77,258) (38,018)
Cash, cash equivalents and restricted cash, beginning of period 345,874 298,397
Cash, cash equivalents and restricted cash, end of period 268,616 260,379
Supplemental disclosure of noncash transactions    
Liability incurred to purchase fixed assets 1,549 844
Operating lease assets obtained in exchange for lease liabilities $ 738 $ 1,319