XML 19 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Statement of Cash Flows [Abstract]    
Dividend declared $ 33,000 $ 32,900
Operating Activities    
Net income 60,973 62,399
Adjustments to reconcile income to net cash provided by operating activities:    
Depreciation and amortization, net of accretion 13,949 16,971
(Increase) decrease in cash surrender value of BOLI (897) (899)
Net realized investment (gains) losses (11,061) (2,578)
Share-based compensation 6,092 5,813
Deferred income taxes 22 4,107
Policy acquisition costs, net amortization (net deferral) (3,400) (3,325)
Equity in (earnings) loss of unconsolidated subsidiaries (4,324) 3,259
Other (438) (1,247)
Other changes in assets and liabilities:    
Premiums receivable (11,637) (10,991)
Reinsurance related assets and liabilities (7,291) (10,786)
Other assets (2,613) 16,019
Reserve for losses and loss adjustment expenses (1,563) (12,525)
Unearned premiums 24,932 23,148
Other liabilities (8,730) (3,134)
Net cash provided (used) by operating activities 54,014 86,231
Purchases of:    
Fixed maturities, available for sale (359,080) (373,180)
Equity securities, trading (101,854) (59,336)
Other investments (8,879) (11,382)
Funding of qualified affordable housing tax credit limited partnerships (320) (956)
Investment in unconsolidated subsidiaries (19,787) (28,096)
Proceeds from sales or maturities of:    
Fixed maturities, available for sale 434,075 387,496
Equity securities, trading 85,907 42,227
Other investments 12,689 7,216
Distributions from unconsolidated subsidiaries 34,024 5,180
Net sales or maturities (purchases) of short-term investments 172,250 (87,517)
Unsettled security transactions, net change 12,714 25,720
Purchases of capital assets (6,593) (5,219)
Other (75) 1,573
Net cash provided (used) by investing activities 255,071 (96,274)
Financing Activities    
Repayments under revolving credit agreement (22,000) 0
Repurchase of common stock 0 (2,106)
Dividends to shareholders (282,180) (85,893)
External capital contribution received for segregated portfolio cells 162 4,740
Other (4,951) (2,629)
Net cash provided (used) by financing activities (308,969) (85,888)
Increase (decrease) in Cash and cash equivalents 116 (95,931)
Cash and cash equivalents at beginning of period 117,347 241,100
Cash and cash equivalents at end of period 117,463 145,169
Significant non-cash transactions    
Dividends declared and not yet paid $ 16,524 $ 16,461