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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income $ 92,574 $ 56,330
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 8,957 12,807
Stock-based compensation expense 7,719 7,031
Undistributed gains of equity method investments (6,693) (9,406)
Distributions in excess of current year income of equity method investments 1,876 11,626
Net realized and unrealized (gains) losses (3,344) 40,352
Loss on disposal of fixed assets 0 2
Changes in assets and liabilities:    
Increase in reserve for loss and loss expense, net of reinsurance recoverable 70,397 86,197
Increase in unearned premiums, net of prepaid reinsurance 97,432 77,515
Decrease in net federal income taxes 20,522 13,656
Increase in premiums receivable (68,478) (66,346)
Increase in deferred policy acquisition costs (19,320) (14,774)
Decrease (increase) in accrued investment income 1,456 (185)
Decrease in accrued salaries and benefits (26,406) (30,473)
Increase in other assets (4,083) (10,789)
Decrease in other liabilities (36,840) (80,864)
Net Cash Provided by (used in) Operating Activities 135,769 92,679
Investing Activities    
Purchases of fixed income securities, held-to-maturity 0 (5,000)
Purchases of fixed income securities, available-for-sale (1,003,617) (874,665)
Purchases of commercial mortgage loans (8,447) (20,399)
Purchases of equity securities (3,229) (13,952)
Purchases of alternative investments and other investments (7,736) (15,555)
Purchases of short-term investments (1,361,774) (910,191)
Sales of fixed income securities, available-for-sale 639,365 425,234
Proceeds from commercial mortgage loans 469 301
Sale of short-term investments 1,499,963 1,101,725
Redemption and maturities of fixed income securities, held-to-maturity 6,507 756
Redemption and maturities of fixed income securities, available-for-sale 109,999 216,024
Sales of Equity Securities 32,918 2,626
Sales of other investments 0 525
Distributions from alternative investments and other investments 2,854 4,342
Purchases of property and equipment (5,510) (7,677)
Net Cash Used in Investing Activities (98,238) (95,906)
Financing Activities    
Dividends to preferred stockholders (2,300) (2,300)
Dividends to common stockholders (17,690) (16,447)
Acquisition of treasury stock (7,443) (5,592)
Net proceeds from stock purchase and compensation plans 973 999
Repayments of finance lease obligations (615) (612)
Net Cash provided by (used in) Financing Activities (27,075) (23,952)
Net increase (decrease) in cash and restricted cash 10,456 (27,179)
Cash and restricted cash, beginning of period 25,209 45,063
Cash and restricted cash, end of period $ 35,665 $ 17,884