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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income $ 343,060 $ 505,936
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss on the sale of investments, net 2,077 7,823
Loss (income) from other invested assets 7,554 (26,658)
Distribution of income from other invested assets 1,715 9,711
Depreciation and amortization 1,439 1,490
Stock-based compensation expense 9,460 9,005
Amortization of premium on investment securities 6,707 10,451
Deferred income tax provision (32,850) 34,853
Change in:    
Accrued investment income (2,937) (170)
Accounts receivable (5,308) (4,428)
Deferred policy acquisition costs 450 1,369
Prepaid federal income tax (28,000) (31,100)
Other assets 68,514 (52,672)
Reserve for losses and LAE 479 (197,472)
Unearned premium reserve (8,966) (17,268)
Other accrued liabilities (10,894) (6,972)
Net cash provided by operating activities 352,500 243,898
Investing Activities    
Net change in short-term investments (331,513) (42,538)
Purchase of investments available for sale (849,582) (733,213)
Proceeds from maturity of investments available for sale 533,563 126,164
Proceeds from sales of investments available for sale 404,708 575,977
Purchase of other invested assets (19,158) (31,708)
Return of investment from other invested assets 1,272 1,370
Purchase of property and equipment (797) (1,649)
Net cash used in investing activities (261,507) (105,597)
Financing Activities    
Treasury stock acquired (50,831) (97,752)
Payment of issuance costs for credit facility 0 (154)
Dividends paid (53,301) (44,034)
Net cash used in financing activities (104,132) (141,940)
Net decrease in cash (13,139) (3,639)
Cash at beginning of year 81,240 81,491
Cash at end of period 68,101 77,852
Supplemental Disclosure of Cash Flow Information    
Income tax payments (34,671) (49,695)
Interest payments (13,520) (4,291)
Noncash Transactions    
Lease liabilities arising from obtaining right-of-use assets $ 17,293 $ 10,096