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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income (loss) $ 201,700 $ (61,833) $ 3,070
Adjustments to reconcile net income (loss) to net cash (used in) operating activities:      
Amortization of premium or discount on fixed maturity securities 227 574 1,663
Net realized (gain) on sale of investments (24) (324) (436)
Unrealized loss on trading securities 41 463 774
Unrealized (gain) loss on derivative embedded conversion feature (201,499) 54,621  
Equity-based compensation 658 1,129 807
Changes in assets and liabilities:      
Accrued investment income 48 241 634
Other assets 212 157 586
Cash equivalents held in trust 1,511 7,435 21,971
Restricted cash (1,907) (568,993) (2,332)
Losses and loss adjustment reserves (4,252) (13,884) (25,367)
Losses payable (352) (291) (1,821)
Unearned premiums (491) (333) (300)
Accrued ceding commission expense (11) (11) (58)
Accrued interest on notes payable (33) (102) (805)
Loss contract reserve change (3,978) (2,926) (33,770)
Other liabilities (294) 904 1,803
Total adjustments (210,144) (521,340) (36,651)
Net cash (used in) operating activities (8,444) (583,173) (33,581)
Cash flows from investing activities:      
Purchase of investments (180,439) (269,694) (511,103)
Proceeds from sales and maturities of investments 202,419 230,567 667,262
Net cash provided by (used in) investing activities 21,980 (39,127) 156,159
Cash flows from financing activities:      
Proceeds from issuance of preferred stock   600,000 22,572
Fees incurred and paid relating to preferred stock issuance   (19,310) (3,348)
Redeemable convertible series B preferred stock dividends (18,000) (16,998)  
Deferred offering costs     (1,497)
Notes payable – principal repayments (2,969) (10,395) (78,890)
Notes payable – principal issued   918 4,608
Net cash (used in) provided by financing activities (20,969) 554,215 (56,555)
(Decrease) increase in cash and cash equivalents (7,433) (68,085) 66,023
Cash and cash equivalents, beginning of period 9,924 78,009 11,986
Cash and cash equivalents, end of period 2,491 9,924 78,009
Supplementary disclosure of cash flow information:      
Cash paid during the period, Interest $ 2,647 2,887 18,272
Supplementary disclosure of non-cash investing and financing activities:      
Embedded derivative on preferred stock issuance   66,227  
Notes payable issued in lieu of cash interest payments   918 4,608
Redeemable convertible series B preferred stock 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