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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities    
Net income $ 40,279 $ 60,973
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, net of accretion 11,036 13,949
(Increase) decrease in cash surrender value of BOLI (904) (897)
Net realized investment (gains) losses 9,722 (11,061)
Share-based compensation 2,517 6,092
Deferred income taxes (1,230) 22
Policy acquisition costs, net of amortization (net deferral) (1,932) (3,400)
Equity in (earnings) loss of unconsolidated subsidiaries (7,019) (4,324)
Distributed earnings from unconsolidated subsidiaries 4,595 12,894
Other 796 (438)
Other changes in assets and liabilities:    
Premiums receivable (41,560) (11,637)
Reinsurance related assets and liabilities 11,980 (7,291)
Other assets 969 (2,613)
Reserve for losses and loss adjustment expenses 30,436 (1,563)
Unearned premiums 22,181 24,932
Other liabilities (16,300) (8,730)
Net cash provided (used) by operating activities 65,566 66,908
Purchases of:    
Fixed maturities, available for sale (552,451) (359,080)
Fixed maturities, trading (29,999) 0
Equity investments (91,054) (101,854)
Other investments (15,228) (8,879)
Funding of qualified affordable housing project tax credit partnerships (74) (320)
Investment in unconsolidated subsidiaries (27,734) (19,787)
Proceeds from sales or maturities of:    
Fixed maturities, available for sale 658,337 434,075
Equity investments 75,376 85,907
Other investments 14,725 12,689
Return of invested capital from unconsolidated subsidiaries 36,154 21,130
Net sales or maturities (purchases) of short-term investments 219,053 172,250
Unsettled security transactions, net change (3,044) 12,714
Purchases of capital assets (5,113) (6,593)
Repayments (advances) under Syndicate Credit Agreement 1,050 1,026
Other 0 951
Net cash provided (used) by investing activities 277,898 242,177
Financing Activities    
Borrowings (repayments) under Revolving Credit Agreement (123,000) (22,000)
Repayments of Mortgage Loans (698) 0
Dividends to shareholders (283,313) (282,180)
Capital contribution received from (return of capital to) external segregated portfolio cell owners (329) 162
Other (3,904) (4,951)
Net cash provided (used) by financing activities (411,244) (308,969)
Increase (decrease) in cash and cash equivalents (67,780) 116
Cash and cash equivalents at beginning of period 134,495 117,347
Cash and cash equivalents at end of period 66,715 117,463
Significant Non-Cash Transactions    
Dividends declared and not yet paid $ 17,630 $ 16,524