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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 403,837 $ 246,355 $ 271,623
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 55,109 59,350 55,205
Stock-based compensation expense 15,893 16,227 19,077
Undistributed gains of equity method investments (69,873) (12,408) (12,773)
Distributions in excess of current year income of equity method investments 2,910 3,472 2,807
Net realized and unrealized (gains) losses (17,599) 4,217 (14,422)
Loss on disposal of fixed assets 50 22 42
Changes in assets and liabilities:      
Increase in reserve for loss and loss expense, net of reinsurance recoverable 307,972 181,839 149,232
Increase in unearned premiums, net of prepaid reinsurance 172,460 91,278 82,253
(Increase) decrease in net federal income taxes (542) 7,708 7,721
Increase in premiums receivable (109,173) (13,171) (53,383)
Increase in Deferred Policy Acquisition Costs (38,337) (17,392) (18,574)
Increase in accrued investment income (3,243) (158) (3,226)
Increase (decrease) in accrued salaries and benefits 7,216 (13,264) (3,748)
Increase in other assets (33,379) (27,927) (39,337)
Increase in other liabilities 78,121 27,897 34,998
Net cash provided by operating activities 771,422 554,045 477,495
Investing Activities      
Purchase of fixed income securities, held-to-maturity (16,250) 0 0
Purchase of fixed income securities, available-for-sale (2,165,555) (1,723,818) (1,856,125)
Purchase of commercial mortgage loans (50,204) (46,506) 0
Purchase of other investments (85,044) (79,598) (64,908)
Purchase of short-term investments (4,345,140) (5,762,725) (6,087,909)
Sale of fixed income securities, available-for-sale 502,911 487,087 594,743
Proceeds from commercial mortgage loans 714 201 0
Sale of short-term investments 4,306,684 5,635,463 6,129,885
Redemption and maturities of fixed income securities, held-to-maturity 4,192 3,888 16,149
Redemption and maturities of fixed income securities, available-for-sale 1,217,555 1,019,132 626,686
Sale of equity securities 99,235 1,320 137,294
Sale of other investments 5,428 5,375 17,964
Distributions from other investments 17,497 24,884 19,972
Fixed asset disposals 0 0 9
Purchase of property and equipment (22,163) (22,064) (30,986)
Net cash used in investing activities (618,780) (688,174) (543,623)
Financing Activities      
Dividends to preferred stockholders (9,353) 0 0
Dividends to common stockholders (60,136) (54,486) (47,675)
Acquisition of treasury stock (9,050) (7,053) (8,164)
Net proceeds from stock purchase and compensation plans 7,976 8,411 8,243
Preferred stock issued, net of issuance costs (479) 195,063 0
Proceeds from borrowings 0 587,000 355,757
Repayment of borrowings (50,000) (587,000) (250,000)
Repayment of finance lease obligations (1,768) (550) (977)
Net cash (used in) provided by financing activities (122,810) 141,385 57,184
Net increase (decrease) in cash and restricted cash 29,832 7,256 (8,944)
Cash and restricted cash, beginning of year 15,231 7,975 16,919
Cash and restricted cash, end of year 45,063 15,231 7,975
Payments to Acquire Equity Securities, FV-NI $ (88,640) $ (230,813) $ (46,397)