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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income $ 696,386 $ 831,353 $ 681,783
Adjustments to reconcile net income to net cash provided by operating activities:      
Realized investment losses (gains), net 7,204 13,172 (418)
(Income) loss from other invested assets 11,118 (28,676) (56,386)
Distribution of income from other invested assets 7,440 14,105 25,730
Depreciation and amortization 4,525 3,024 3,379
Stock-based compensation expense 18,446 18,381 20,844
Amortization of premium on investment securities 14,899 18,347 33,739
Deferred income tax provision (benefit) (13,246) 58,168 84,022
Change in:      
Accrued investment income (2,527) (6,616) (6,598)
Accounts receivable (2,070) (11,211) 3,337
Deferred policy acquisition costs 771 2,268 4,827
Prepaid federal income tax (52,186) (57,650) (58,174)
Other assets 62,976 (50,333) (3,948)
Reserve for losses and LAE 29,017 (190,981) 32,504
Unearned premium reserve (22,624) (22,498) (65,051)
Other accrued liabilities 2,872 (2,036) 9,666
Net cash provided by operating activities 763,001 588,817 709,256
Investing Activities      
Net change in short-term investments (655,596) 61,060 413,773
Purchase of investments available for sale (1,116,120) (1,378,231) (2,270,701)
Proceeds from maturities and paydowns of investments available for sale 664,239 247,296 266,930
Proceeds from sales of investments available for sale 707,544 747,883 1,067,882
Purchase of other invested assets (40,038) (74,620) (67,397)
Return of investment from other invested assets 5,165 1,721 8,844
Net cash paid in acquisition (86,761) 0 0
Purchase of property and equipment (4,002) (3,981) (2,498)
Net cash used in investing activities (525,569) (398,872) (583,167)
Financing Activities      
Credit facility borrowings 0 0 225,000
Credit facility repayments 0 0 (125,000)
Treasury stock acquired (70,670) (97,914) (163,855)
Payment of issuance costs for credit facility 0 (154) (5,849)
Dividends paid (106,215) (92,128) (77,724)
Net cash used in financing activities (176,885) (190,196) (147,428)
Net (decrease) increase in cash 60,547 (251) (21,339)
Cash at beginning of year 81,240 81,491 102,830
Cash at end of year 141,787 81,240 81,491
Supplemental Disclosure of Cash Flow Information      
Income tax payments (139,710) (98,006) (55,799)
Interest payments (28,574) (13,595) (6,951)
Noncash Transactions      
Repayment of borrowings with term loan proceeds 0 0 (225,000)
Operating lease liabilities arising from obtaining right-of-use assets $ 23,705 $ 10,035 $ 15