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Consolidated Statements of Cashflow (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Operating Activities    
Net income $ 18,093 $ 20,500
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,748 8,001
Stock-based compensation expense 3,329 3,135
Undistributed losses (income) of equity method investments 764 (2,482)
Net realized gains (4,358) (5,760)
Changes in assets and liabilities:    
Increase in reserves for losses and loss expenses, net of reinsurance recoverables 6,311 22,196
Increase in unearned premiums, net of prepaid reinsurance and advance premiums 41,769 11,297
Decrease in net federal income taxes 4,227 5,663
Increase in premiums receivable (25,107) (15,958)
(Increase) decrease in deferred policy acquisition costs (8,570) 996
Decrease in interest and dividends due or accrued 1,108 355
Decrease in accrued salaries and benefits (5,356) (4,976)
Decrease in accrued insurance expenses (13,476) (17,082)
Other-net 7,373 2,105
Net adjustments 17,762 7,490
Net cash provided by operating activities 35,855 27,990
Investing Activities    
Purchase of fixed maturity securities, available-for-sale (226,525) (114,320)
Purchase of equity securities, available-for-sale (39,724) (59,780)
Purchase of other investments (2,990) (5,008)
Purchase of short-term investments (368,210) (316,769)
Purchase of subsidiary 255 0
Sale of subsidiary 287 415
Sale of fixed maturity securities, available-for-sale 14,308 14,907
Sale of short-term investments 410,780 321,487
Redemption and maturities of fixed maturity securities, held-to-maturity 38,879 38,483
Redemption and maturities of fixed maturity securities, available-for-sale 84,124 19,771
Sale of equity securities, available-for-sale 57,513 56,836
Distributions from other investments 5,299 9,122
Sale of other investments 0 16,357
Purchase of property and equipment (2,263) (1,366)
Net cash used in investing activities (28,267) (19,865)
Financing Activities    
Dividends to stockholders (6,713) (6,605)
Acquisition of treasury stock (3,015) (2,496)
Net proceeds from stock purchase and compensation plans 769 1,008
Excess tax benefits from share-based payment arrangements 870 (181)
Net cash used in financing activities (8,089) (8,274)
Net decrease in cash (501) (149)
Cash, beginning of year 762 645
Cash, end of period $ 261 $ 496