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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net income $ 133,614 $ 77,744
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 28,327 21,771
Stock-based compensation expense 11,654 9,636
Undistributed gains of equity method investments (4,934) (1,628)
Distributions in excess of current year income of equity method investments 2,157 1,450
Loss on disposal of fixed assets 0 29
Net realized and unrealized (gains) losses (17,478) 12,201
Changes in assets and liabilities:    
Increase in reserve for loss and loss expense, net of reinsurance recoverable 105,082 82,978
Increase in unearned premiums, net of prepaid reinsurance 99,152 83,143
Decrease in net federal income taxes 1,698 9,887
Increase in premiums receivable (107,190) (74,144)
Increase in deferred policy acquisition costs (20,516) (13,412)
(Increase) decrease in interest and dividends due or accrued (1,399) 2
Decrease in accrued salaries and benefits (29,124) (46,478)
Increase in other assets (22,320) (6,550)
Decrease in other liabilities (13,583) (64,372)
Net cash provided by operating activities 165,140 92,257
Investing Activities    
Purchase of fixed income securities, held-to-maturity 0 (3,650)
Purchase of fixed income securities, available-for-sale (891,241) (1,331,607)
Purchase of equity securities (24,699) (46,402)
Purchase of other investments (25,822) (26,032)
Purchase of short-term investments (3,258,852) (1,462,238)
Sale of fixed income securities, available-for-sale 372,159 938,276
Sale of short-term investments 3,291,878 1,463,726
Redemption and maturities of fixed income securities, held-to-maturity 4,643 3,654
Redemption and maturities of fixed income securities, available-for-sale 236,705 311,590
Sale of equity securities 30,094 43,590
Sale of other investments 12,609 3,497
Distributions from other investments 14,489 15,927
Purchase of property and equipment (16,985) (6,733)
Net cash used in investing activities (255,022) (96,402)
Financing Activities    
Dividends to stockholders (22,940) (20,437)
Acquisition of treasury stock (6,715) (6,245)
Net proceeds from stock purchase and compensation plans 5,100 3,930
Proceeds from borrowings 340,757 130,000
Repayments of borrowings (235,000) (130,000)
Repayments of finance lease obligations (596) (1,333)
Net cash provided by (used in) financing activities 80,606 (24,085)
Net decrease in cash and restricted cash (9,276) (28,230)
Cash and restricted cash, beginning of year 16,919 44,710
Cash and restricted cash, end of period $ 7,643 $ 16,480