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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net income $ 271,623 $ 178,939 $ 168,826
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 55,205 44,874 52,100
Stock-based compensation expense 19,077 14,507 12,089
Undistributed gains of equity method investments (12,773) (8,341) (5,362)
Distributions in excess of current year income of equity method investments 2,807 2,924 552
Net realized and unrealized (gains) losses (14,422) 54,923 (6,359)
Loss on disposal of fixed assets 42 63 998
Changes in assets and liabilities:      
Increase in reserves for loss and loss expense, net of reinsurance recoverables 149,232 168,288 106,226
Increase in unearned premiums, net of prepaid reinsurance 82,253 78,058 79,614
Decrease in net federal income taxes 7,721 2,428 30,918
Increase in premiums receivable (53,383) (23,489) (65,418)
Increase (Decrease) Deferred Policy Acquisition Costs (18,574) (17,557) (12,491)
Increase in interest and dividends due or accrued (3,226) (540) (1,088)
Decrease in accrued salaries and benefits (3,748) (26,418) (5,714)
Increase in other assets (39,337) (372) (2,643)
Increase (decrease) in other liabilities 34,998 (13,343) 27,297
Net cash provided by operating activities 477,495 454,944 379,545
Investing Activities      
Purchase of fixed income securities, held-to-maturity 0 (7,150) 0
Purchase of fixed income securities, available-for-sale (1,856,125) (2,918,203) (2,130,362)
Purchase of equity securities (46,397) (94,344) (61,931)
Purchase of other investments (64,908) (68,578) (55,830)
Purchase of short-term investments (6,087,909) (4,259,734) (4,280,553)
Sale of fixed income securities, available-for-sale 594,743 2,030,664 1,197,920
Sale of short-term investments 6,129,885 4,101,530 4,338,318
Redemption and maturities of fixed income securities, held-to-maturity 16,149 12,106 58,832
Redemption and maturities of fixed income securities, available-for-sale 626,686 638,916 555,216
Sale of equity securities 137,294 113,339 37,960
Sale of other investments 17,964 3,497 0
Distributions from other investments 19,972 28,379 21,843
Fixed asset disposals 9 0 0
Purchase of property and equipment (30,986) (16,110) (14,071)
Net cash used in investing activities (543,623) (435,688) (332,658)
Financing Activities      
Dividends to stockholders (47,675) (42,097) (37,045)
Acquisition of treasury stock (8,164) (6,556) (6,015)
Net proceeds from stock purchase and compensation plans 8,243 7,252 7,599
Proceeds from borrowings 355,757 130,000 84,000
Repayment of borrowings (250,000) (130,000) (84,000)
Repayment of finance lease obligations (977) (5,646) (4,121)
Net cash provided by (used in) financing activities 57,184 (47,047) (39,582)
Net (decrease) increase in cash and restricted cash (8,944) (27,791) 7,305
Cash and restricted cash, beginning of year 16,919 44,710 37,405
Cash and restricted cash, end of year $ 7,975 $ 16,919 $ 44,710