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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net (loss) income $ (67,982) $ 13,942
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Amortization of premium or discount on fixed maturity securities 323 958
Net realized (gain) loss on sale of investments (267) (415)
Unrealized (gain) loss on trading securities 273 368
Unrealized (gain) loss on derivative liability - embedded conversion feature 75,198  
Equity-based compensation expense 779 373
Changes in assets and liabilities:    
Accrued investment income 181 190
Other assets (123) 401
Change in cash equivalents held in trust 4,161 26,478
Change in restricted cash (580,240) (79,755)
Losses and loss adjustment reserves (11,639) (20,652)
Losses payable (265) (1,717)
Unearned premiums (177) (167)
Accrued ceding commission expense (2) (51)
Accrued interest on notes payable (22) 30
Loss contract fair market value reserve (2,783) (30,287)
Other liabilities 314 (761)
Total adjustments (514,289) (105,007)
Net cash (used in) operating activities: (582,271) (91,065)
Cash flows from investing activities:    
Purchase of investments (130,252) (341,313)
Proceeds from sales and maturities of investments 83,220 412,163
Net cash (used in) provided by investing activities: (47,032) 70,850
Cash flows from financing activities:    
Proceeds from issuance of preferred stock and warrants to purchase common stock 600,000 22,572
Fees incurred and paid relating to preferred stock and warrant issuance (19,310) (3,234)
Series B preferred stock dividends paid in cash (7,998)  
Deferred offering costs   (12,048)
Notes payable – principal repayments (2,965)  
Notes payable – principal issued 918 2,763
Net cash provided by financing activities: 570,645 10,053
(Decrease) in cash and cash equivalents (58,658) (10,162)
Cash and cash equivalents, beginning of period 78,009 11,986
Cash and cash equivalents, end of period 19,351 1,824
Cash paid during the period:    
Interest 1,009 4,157
Supplementary disclosure of non-cash investing and financing activities:    
Embedded derivatives on preferred stock issuances 66,227  
Notes payable issued in lieu of cash interest payments 918 2,763
Non-cash preferred series B dividends accrued 750  
Accrued fees relating to series B preferred stock issuance $ 12,250  
Preferred deemed dividend recorded due to beneficial conversion feature   $ 9,455