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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 831,353 $ 681,783 $ 413,041
Adjustments to reconcile net income to net cash provided by operating activities:      
Realized investment losses (gains), net 13,172 (418) (2,697)
(Income) loss from other invested assets (28,676) (56,386) 215
Distribution of income from other invested assets 14,105 25,730 1,277
Depreciation and amortization 3,024 3,379 3,328
Stock-based compensation expense 18,381 20,844 18,462
Amortization of premium on investment securities 18,347 33,739 23,393
Deferred income tax provision 58,168 84,022 38,653
Change in:      
Accrued investment income (6,616) (6,598) (1,413)
Accounts receivable (11,211) 3,337 (8,848)
Deferred policy acquisition costs 2,268 4,827 (1,300)
Prepaid federal income tax (57,650) (58,174) (40,751)
Other assets (50,333) (3,948) (16,840)
Reserve for losses and LAE (190,981) 32,504 305,579
Unearned premium reserve (22,498) (65,051) (28,451)
Other accrued liabilities (2,036) 9,666 24,283
Net cash provided by operating activities 588,817 709,256 727,931
Investing Activities      
Net change in short-term investments 61,060 413,773 (411,498)
Purchase of investments available for sale (1,378,231) (2,270,701) (1,575,082)
Proceeds from maturities and paydowns of investments available for sale 247,296 266,930 262,321
Proceeds from sales of investments available for sale 747,883 1,067,882 577,409
Purchase of other invested assets (74,620) (67,397) (17,012)
Return of investment from other invested assets 1,721 8,844 11,891
Purchase of property and equipment (3,981) (2,498) (2,446)
Net cash used in investing activities (398,872) (583,167) (1,154,417)
Financing Activities      
Issuance of common shares, net of costs 0 0 439,962
Credit facility borrowings 0 225,000 200,000
Credit facility repayments 0 (125,000) (100,000)
Treasury stock acquired (97,914) (163,855) (6,354)
Payment of issuance costs for credit facility (154) (5,849) (6,232)
Dividends paid (92,128) (77,724) (69,410)
Net cash (used in) provided by financing activities (190,196) (147,428) 457,966
Net (decrease) increase in cash (251) (21,339) 31,480
Cash at beginning of year 81,491 102,830 71,350
Cash at end of year 81,240 81,491 102,830
Supplemental Disclosure of Cash Flow Information      
Income tax payments (98,006) (55,799) (38,705)
Interest payments (13,595) (6,951) (8,263)
Noncash Transactions      
Repayment of borrowings with term loan proceeds 0 (225,000) (325,000)
Operating lease liabilities arising from obtaining right-of-use assets $ 10,035 $ 15 $ 805