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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 175,433 $ 181,719
Adjustments to reconcile net income to net cash provided by operating activities:    
Realized investment losses, net 181 1,140
(Income) loss from other invested assets (7,408) 1,915
Distribution of income from other invested assets 2,081 1,806
Depreciation and amortization 1,373 1,390
Stock-based compensation expense 8,992 6,820
Amortization of premium on investment securities 3,999 4,544
Deferred income tax provision 11,050 9,324
Change in:    
Accrued investment income 1,436 (128)
Accounts receivable 2,436 (695)
Deferred policy acquisition costs (10) 159
Prepaid federal income tax 2,244 3,463
Other assets (3,698) (3,882)
Reserve for losses and LAE 27,787 7,229
Unearned premium reserve (7,577) (7,050)
Other accrued liabilities 3,248 9,181
Net cash provided by operating activities 221,567 216,935
Investing Activities    
Net change in short-term investments 227,073 (268,106)
Purchase of investments available for sale (349,690) (63,092)
Proceeds from maturity and paydowns of investments available for sale 188,747 113,323
Proceeds from sales of investments available for sale 2,255 77,182
Purchase of other invested assets (12,701) (6,348)
Return of investment from other invested assets 70 227
Purchase of property and equipment (221) (4,484)
Net cash provided by (used in) investing activities 55,533 (151,298)
Financing Activities    
Treasury stock acquired (168,850) (13,552)
Dividends paid (31,664) (29,617)
Net cash used in financing activities (200,514) (43,169)
Net increase in cash 76,586 22,468
Cash at beginning of year 131,480 141,787
Cash at end of period 208,066 164,255
Supplemental Disclosure of Cash Flow Information    
Income tax payments (4,593) 621
Interest payments (15,625) (7,610)
Noncash Transactions    
Lease liabilities arising from obtaining right-of-use assets $ 3,497 $ 0