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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Net income (loss) $ (34,075) $ 18,323 $ 28,945
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Change in accounts receivable and unearned premium (3,904) 2,678 (2,721)
Change in accrued investment income (199) (278) 108
Change in reinsurance recoverable on paid losses 956 (446) 692
Change in losses and loss expenses reserves, net of reinsurance 117,027 47,229 23,568
Change in other assets, other liabilities and current income taxes 8,204 49,221 (8,063)
Amortization of net policy acquisition costs 54,981 47,387 18,085
Net policy acquisition costs deferred (55,940) (51,824) (17,813)
Provision for deferred income tax expense (benefit) (18,794) (3,866) 2,838
Bond amortization 184 1,865 3,030
Loss on sale of property and equipment 0 235 63
Depreciation 6,102 5,752 5,521
Net realized (gains) losses on investments 25,691 (19,686) (23,228)
Compensation expense related to restricted stock 475 1,154 1,343
Net cash provided by operating activities 100,708 97,744 32,368
Investing activities      
Purchases of fixed maturities and equity securities (415,326) (436,932) (400,670)
Purchases of limited partnership interests (450) (1,097) 0
Distributions from limited partnerships 6,869 19,230 1,462
Proceeds from maturities 64,035 131,623 78,691
Proceeds from sales of fixed maturities 241,429 148,652 199,790
Proceeds from sales of equity securities 149,195 69,756 88,773
Net sales of short-term investments 0 500 11,258
Purchase of insurance company-owned life insurance (10,000) 0 0
Purchase of commercial mortgage loans (6,672) 0 0
Purchases of property and equipment (5,439) (6,661) (7,725)
Proceeds from disposals of property and equipment 10 582 1,059
Net cash provided by (used in) investing activities 23,651 (74,347) (27,362)
Financing activities      
Dividends paid to shareholders (16,835) (16,302) (15,803)
Repurchase of common shares (4,596) (1,880) 0
Net cash used in financing activities (21,431) (18,182) (15,803)
Effect of foreign exchange rates on cash and cash equivalents (830) 522 235
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 102,098 5,737 (10,562)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year 68,713 62,976 73,538
Cash, cash equivalents and restricted cash and cash equivalents at end of year 170,811 68,713 62,976
Supplemental Disclosures of Cash Flow Information      
Cash paid for income taxes, net of refunds 9,500 0 10,173
Cash paid for interest $ 504 $ 456 $ 309