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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income $ 561,503 $ 521,019
Adjustments to reconcile net income to net cash provided by operating activities:    
Realized investment losses, net 2,236 2,312
Income (loss) from other invested assets (486) 10,697
Distribution of income from other invested assets 6,404 3,797
Depreciation and amortization 4,352 3,183
Stock-based compensation expense 20,568 13,939
Amortization of premium on investment securities 14,955 10,442
Deferred income tax provision 29,942 (19,583)
Change in:    
Accrued investment income (4,764) (3,489)
Accounts receivable 8,659 (6,664)
Deferred policy acquisition costs (352) 535
Prepaid federal income tax (23,710) (42,926)
Other assets (1,185) 66,599
Reserve for losses and LAE 28,221 10,256
Unearned premium reserve (19,346) (15,197)
Other accrued liabilities 7,830 (7,372)
Net cash provided by operating activities 634,827 547,548
Investing Activities    
Net change in short-term investments (101,900) (482,796)
Purchase of investments available for sale (1,094,973) (858,678)
Proceeds from maturity of investments available for sale 328,950 591,403
Proceeds from sales of investments available for sale 298,571 468,537
Purchase of other invested assets (27,590) (28,987)
Return of investment from other invested assets 3,966 2,783
Net cash paid for acquisitions 0 (86,761)
Purchase of property and equipment (6,045) (1,843)
Net cash used in investing activities (599,021) (396,342)
Financing Activities    
Issuance of senior notes 498,160 0
Credit facility repayments (425,000) 0
Treasury stock acquired (45,197) (55,870)
Payment of debt issuance costs (7,594) 0
Dividends paid (88,656) (79,797)
Net cash used in financing activities (68,287) (135,667)
Net increase (decrease) in cash (32,481) 15,539
Cash at beginning of year 141,787 81,240
Cash at end of period 109,306 96,779
Supplemental Disclosure of Cash Flow Information    
Income tax payments (72,338) (53,337)
Interest payments (17,196) (21,229)
Noncash Transactions    
Lease liabilities arising from obtaining right-of-use assets $ 0 $ 25,117