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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net income $ 138,375 $ 304,858
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 34,350 40,706
Stock-based compensation expense 15,123 13,431
Undistributed gains of equity method investments (12,971) (65,215)
Distributions in excess of current year income of equity method investments 33,365 2,750
Net realized and unrealized losses (gains) 108,913 (15,353)
Loss on disposal of fixed assets 0 50
Changes in assets and liabilities:    
Increase in reserve for loss and loss expense, net of reinsurance recoverable 271,311 251,260
Increase in unearned premiums, net of prepaid reinsurance 223,332 211,564
Increase in net federal income taxes (31,607) (17,866)
Increase in premiums receivable (168,286) (148,817)
Increase in deferred policy acquisition costs (44,010) (45,417)
Increase in accrued investment income (5,936) (1,249)
Decrease in accrued salaries and benefits (8,830) (1,160)
Increase in other assets (31,241) (22,045)
(Decrease) increase in other liabilities (36,444) 35,806
Net Cash Provided by Operating Activities 485,444 543,303
Investing Activities    
Purchases of fixed income securities, held-to-maturity (6,692) (11,250)
Purchases of fixed income securities, available-for-sale (2,183,013) (1,660,798)
Purchases of commercial mortgage loans (57,289) (38,129)
Purchases of equity securities (21,044) (82,223)
Purchases of other investments (45,495) (63,661)
Purchases of short-term investments (3,123,086) (3,443,597)
Sales of fixed income securities, available-for-sale 986,367 384,586
Proceeds from commercial mortgage loans 7,875 442
Sale of short-term investments 3,302,140 3,497,243
Redemption and maturities of fixed income securities, held-to-maturity 2,508 2,735
Redemption and maturities of fixed income securities, available-for-sale 539,680 910,741
Sales of Equity Securities 155,670 85,373
Sales of other investments 2,156 5,377
Distributions from other investments 11,114 10,524
Purchases of property and equipment (21,758) (15,123)
Net Cash Used in Investing Activities (450,867) (417,760)
Financing Activities    
Dividends to preferred stockholders (6,900) (7,053)
Dividends to common stockholders (49,307) (43,756)
Acquisition of treasury stock (18,081) (8,974)
Net proceeds from stock purchase and compensation plans 5,500 4,575
Preferred stock issued, net of issuance costs 0 (479)
Proceeds from borrowings 35,000 0
Repayments of borrowings (35,000) (50,000)
Repayments of finance lease obligations (1,819) (298)
Net Cash used in Financing Activities (70,607) (105,985)
Net (decrease) increase in cash and restricted cash (36,030) 19,558
Cash and restricted cash, beginning of period 45,063 15,231
Cash and restricted cash, end of period $ 9,033 $ 34,789