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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 224,886 $ 403,837 $ 246,355
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 42,336 55,109 59,350
Stock-based compensation expense 18,428 15,893 16,227
Undistributed gains of equity method investments (12,946) (69,873) (12,408)
Distributions in excess of current year income of equity method investments 43,184 2,910 3,472
Net realized and unrealized losses (gains) 114,808 (17,599) 4,217
Loss on disposal of fixed assets 172 50 22
Changes in assets and liabilities:      
Increase in reserve for loss and loss expense, net of reinsurance recoverable 381,176 307,972 181,839
Increase in unearned premiums, net of prepaid reinsurance 200,210 172,460 91,278
(Increase) decrease in net federal income taxes (25,932) (542) 7,708
Increase in premiums receivable (140,500) (109,173) (13,171)
Increase in deferred policy acquisition costs (41,709) (38,337) (17,392)
Increase in accrued investment income (10,920) (3,243) (158)
(Decrease) increase in accrued salaries and benefits (3,092) 7,216 (13,264)
Increase in other assets (37,561) (33,379) (27,927)
Increase in other liabilities 49,869 78,121 27,897
Net cash provided by operating activities 802,409 771,422 554,045
Investing Activities      
Purchases of fixed income securities, held-to-maturity (6,691) (16,250) 0
Purchases of fixed income securities, available-for-sale (2,648,974) (2,165,555) (1,723,818)
Purchases of commercial mortgage loans (64,008) (50,204) (46,506)
Purchases of equity securities (26,675) (88,640) (230,813)
Purchases of alternative investments and other investments (73,408) (85,044) (79,598)
Purchases of short-term investments (4,506,500) (4,345,140) (5,762,725)
Sales of fixed income securities, available-for-sale 1,211,739 502,911 487,087
Proceeds from commercial mortgage loans 10,498 714 201
Sales of short-term investments 4,513,940 4,306,684 5,635,463
Redemption and maturities of fixed income securities, held-to-maturity 4,351 4,192 3,888
Redemption and maturities of fixed income securities, available-for-sale 669,211 1,217,555 1,019,132
Sales of equity securities 186,144 99,235 1,320
Sales of other investments 3,281 5,428 5,375
Distributions from alternative investments and other investments 18,664 17,497 24,884
Purchases of property and equipment (26,019) (22,163) (22,064)
Net cash used in investing activities (734,447) (618,780) (688,174)
Financing Activities      
Dividends to preferred stockholders (9,200) (9,353) 0
Dividends to common stockholders (66,920) (60,136) (54,486)
Acquisition of treasury stock (18,344) (9,050) (7,053)
Net proceeds from stock purchase and compensation plans 9,086 7,976 8,411
Preferred stock issued, net of issuance costs 0 (479) 195,063
Proceeds from borrowings 60,000 0 587,000
Repayment of borrowings (60,000) (50,000) (587,000)
Repayment of finance lease obligations (2,438) (1,768) (550)
Net cash (used in) provided by financing activities (87,816) (122,810) 141,385
Net (decrease) increase in cash and restricted cash (19,854) 29,832 7,256
Cash and restricted cash, beginning of year 45,063 15,231 7,975
Cash and restricted cash, end of year $ 25,209 $ 45,063 $ 15,231