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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities    
Net income $ 91,866 $ 80,633
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 25,409 30,155
Stock-based compensation expense 8,372 7,203
Undistributed (gains) losses of equity method investments (3,575) 1,677
Loss on disposal of fixed assets 998 0
Net realized (gains) losses (689) 939
Changes in assets and liabilities:    
Increase in reserve for losses and loss expenses, net of reinsurance recoverable 59,152 41,986
Increase in unearned premiums, net of prepaid reinsurance 83,633 89,109
Decrease in net federal income taxes 7,263 2,380
Increase in premiums receivable (82,729) (91,391)
Increase in deferred policy acquisition costs (12,339) (15,395)
Increase in interest and dividends due or accrued (204) (1,030)
Decrease in accrued salaries and benefits (29,703) (48,603)
Decrease (increase) in other assets 24,953 (3,877)
Decrease in other liabilities (48,684) (34,659)
Net cash provided by operating activities 123,723 59,127
Investing Activities    
Purchase of fixed income securities, held-to-maturity 0 (4,235)
Purchase of fixed income securities, available-for-sale (1,194,142) (411,538)
Purchase of equity securities, available-for-sale (22,115) (16,796)
Purchase of other investments (22,121) (17,734)
Purchase of short-term investments (2,259,305) (691,496)
Sale of fixed income securities, available-for-sale 717,072 22,114
Sale of short-term investments 2,348,892 680,865
Redemption and maturities of fixed income securities, held-to-maturity 28,730 44,615
Redemption and maturities of fixed income securities, available-for-sale 300,430 264,244
Sale of equity securities, available-for-sale 6,289 83,793
Distributions from other investments 9,843 13,380
Purchase of property and equipment (7,047) (8,187)
Net cash used in investing activities (93,474) (40,975)
Financing Activities    
Dividends to stockholders (17,922) (16,569)
Acquisition of treasury stock (5,948) (4,419)
Net proceeds from stock purchase and compensation plans 4,045 4,368
Proceeds from borrowings 64,000 55,000
Repayments of borrowings (64,000) (55,000)
Excess tax benefits from share-based payment arrangements 0 1,761
Repayments of capital lease obligations (2,254) (2,661)
Net cash used in financing activities (22,079) (17,520)
Net increase in cash 8,170 632
Cash, beginning of year 458 898
Cash, end of period $ 8,628 $ 1,530