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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Operating Activities          
Net income (loss) $ 12,200 $ (149,979) $ 111,984 $ (190,032)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Goodwill impairment 0 161,115 0 161,115 $ 161,115
Gain on bargain purchase 0 0 (74,408) 0  
Depreciation and amortization, net of accretion 10,246 6,345 26,566 16,168  
(Increase) decrease in cash surrender value of BOLI     (393) (1,281)  
Net realized investment (gains) losses (530) (8,838) (20,212) (150)  
Share-based compensation     3,318 3,052  
Deferred income tax expense (benefit) (3,962) (9,173) (5,775) (22,000)  
Policy acquisition costs, net of amortization (net deferral)     (10,733) 2,529  
Equity in (earnings) loss of unconsolidated subsidiaries (15,244) (4,853) (33,959) 22,065  
Distributed earnings from unconsolidated subsidiaries     20,921 29,844  
Other     (194) 2,605  
Other changes in assets and liabilities:          
Premiums receivable     23,482 6,486  
Reinsurance related assets and liabilities     (4,791) (11,079)  
Other assets     21,358 (13,297)  
Reserve for losses and loss adjustment expenses     33,062 60,962  
Unearned premiums     (30,630) 2,098  
Other liabilities     9,767 4,088  
Net cash provided (used) by operating activities     69,363 73,173  
Purchases of:          
Fixed maturities, available-for-sale (404,100) (317,500) (1,169,582) (689,429)  
Equity investments     (140,550) (63,386)  
Other investments     (61,104) (26,432)  
Investment in unconsolidated subsidiaries     (15,316) (32,768)  
Proceeds from sales or maturities of:          
Fixed maturities, available-for-sale     777,783 635,392  
Equity investments     425,039 174,130  
Other investments     35,087 27,279  
Net sales or (purchases) of fixed maturities, trading     2,935 (4,893)  
Return of invested capital from unconsolidated subsidiaries     47,963 26,831  
Net sales or maturities (purchases) of short-term investments     247,085 (37,549)  
Unsettled security transactions, net change     49,905 21,498  
Purchases of capital assets     (3,200) (6,665)  
Purchases of intangible assets     0 (1,198)  
Cash paid for acquisitions, net of cash acquired     (221,576) 0  
Other     0 (811)  
Net cash provided (used) by investing activities     (25,531) 21,999  
Financing Activities          
Repayments of Mortgage Loans     (36,113) (1,127)  
Dividends to shareholders     (8,067) (35,978)  
Capital contribution received from (return of capital to) external segregated portfolio cell participants     (9,114) (581)  
Purchase of non-controlling interest     (3,089) 0  
Other     (278) (907)  
Net cash provided (used) by financing activities     (56,661) (38,593)  
Increase (decrease) in cash and cash equivalents     (12,829) 56,579  
Cash and cash equivalents at beginning of period     215,782 175,369 175,369
Cash and cash equivalents at end of period 202,953 231,948 202,953 231,948 215,782
Significant Non-Cash Transactions          
Dividends declared and not yet paid 2,700 2,694 2,700 2,694 2,694
Operating ROU assets obtained in exchange for operating lease liabilities     5,275 478  
Fair value of Contribution Certificates issued in NORCAL acquisition     174,999 0  
Fair value of contingent consideration in NORCAL acquisition $ 24,000 $ 0 $ 24,000 $ 0 $ 0