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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net income (loss) $ 7,347 $ (34,075) $ 18,323
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Change in accounts receivable and unearned premium (3,835) (3,904) 2,678
Change in accrued investment income (524) (199) (278)
Change in reinsurance recoverable on paid losses (19,083) 956 (446)
Change in losses and loss expenses reserves, net of reinsurance 100,648 117,027 47,229
Change in other assets, other liabilities and current income taxes 10,140 8,204 49,221
Amortization of net policy acquisition costs 55,802 54,981 47,387
Net policy acquisition costs deferred (57,731) (55,940) (51,824)
Provision for deferred income tax expense (benefit) (51) (18,794) (3,866)
Bond amortization (725) 184 1,865
Loss on sale of property and equipment 0 0 235
Depreciation 6,052 6,102 5,752
Net realized (gains) losses on investments (12,889) 25,691 (19,686)
Compensation expense related to restricted stock 1,529 475 1,154
Net cash provided by operating activities 86,680 100,708 97,744
Investing activities      
Purchases of fixed income securities and equity securities (423,544) (415,326) (436,932)
Purchases of limited partnership interests 0 (450) (1,097)
Distributions from limited partnerships 33,396 6,869 19,230
Proceeds from maturities 84,387 64,035 131,623
Proceeds from sales of fixed income securities 139,310 241,429 148,652
Proceeds from sales of equity securities 21,621 149,195 69,756
Net sales of short-term investments 0 0 500
Purchase of insurance company-owned life insurance 0 (10,000) 0
Purchase of commercial mortgage loans (7,082) (6,672) 0
Proceeds from commercial mortgage loans 1,972 0 0
Purchases of property and equipment (1,953) (5,439) (6,661)
Proceeds from disposals of property and equipment 3 10 582
Net cash provided by (used in) investing activities (151,890) 23,651 (74,347)
Financing activities      
Dividends paid to shareholders (5,857) (16,835) (16,302)
Repurchase of common shares (11,501) (4,596) (1,880)
Net cash used in financing activities (17,358) (21,431) (18,182)
Effect of foreign exchange rates on cash and cash equivalents 645 (830) 522
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents (81,923) 102,098 5,737
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period 170,811 68,713 62,976
Cash, cash equivalents and restricted cash and cash equivalents at end of period 88,888 170,811 68,713
Supplemental Disclosures of Cash Flow Information      
Cash paid (refunds received) for income taxes (1,186) 9,500 0
Cash paid for interest $ 723 $ 504 $ 456