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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 729,403 $ 696,386 $ 831,353
Adjustments to reconcile net income to net cash provided by operating activities:      
Realized investment losses (gains), net 2,350 7,204 13,172
(Income) loss from other invested assets (7,375) 11,118 (28,676)
Distribution of income from other invested assets 13,843 7,440 14,105
Depreciation and amortization 5,783 4,525 3,024
Stock-based compensation expense 24,778 18,446 18,381
Amortization of premium on investment securities 20,231 14,899 18,347
Deferred income tax provision (benefit) 32,174 (13,246) 58,168
Change in:      
Accrued investment income (8,043) (2,527) (6,616)
Accounts receivable 7,466 (2,070) (11,211)
Deferred policy acquisition costs (515) 771 2,268
Prepaid federal income tax (18,954) (52,186) (57,650)
Other assets (18,653) 62,976 (50,333)
Reserve for losses and LAE 68,772 29,017 (190,981)
Unearned premium reserve (24,302) (22,624) (22,498)
Other accrued liabilities 34,574 2,872 (2,036)
Net cash provided by operating activities 861,532 763,001 588,817
Investing Activities      
Net change in short-term investments 164,707 (655,596) 61,060
Purchase of investments available for sale (1,648,433) (1,116,120) (1,378,231)
Proceeds from maturities and paydowns of investments available for sale 411,635 664,239 247,296
Proceeds from sales of investments available for sale 415,074 707,544 747,883
Purchase of other invested assets (39,062) (40,038) (74,620)
Return of investment from other invested assets 5,919 5,165 1,721
Net cash paid in acquisition 0 (86,761) 0
Purchase of intangible assets (10,000) 0 0
Purchase of property and equipment (6,766) (4,002) (3,981)
Net cash used in investing activities (706,926) (525,569) (398,872)
Financing Activities      
Issuance of senior notes 498,160 0 0
Credit facility repayments (425,000) 0 0
Treasury stock acquired (111,543) (70,670) (97,914)
Payment of debt issuance costs (8,488) 0 (154)
Dividends paid (118,042) (106,215) (92,128)
Net cash used in financing activities (164,913) (176,885) (190,196)
Net (decrease) increase in cash (10,307) 60,547 (251)
Cash at beginning of year 141,787 81,240 81,491
Cash at end of year 131,480 141,787 81,240
Supplemental Disclosure of Cash Flow Information      
Income tax payments (92,517) (139,710) (98,006)
Interest payments (17,196) (28,574) (13,595)
Noncash Transactions      
Operating lease liabilities arising from obtaining right-of-use assets $ 2,066 $ 23,705 $ 10,035