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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net income (loss) $ (44,981) $ (14,344)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Goodwill impairment 44,110 0
Depreciation and amortization, net of accretion 20,085 30,046
(Increase) decrease in cash surrender value of BOLI 4,244 528
Net investment (gains) losses (3,156) 45,652
Share-based compensation 3,817 3,681
Deferred income tax expense (benefit) (3,448) (8,034)
Policy acquisition costs, net of amortization (net deferral) (9,109) (6,077)
Equity in (earnings) loss of unconsolidated subsidiaries (5,450) (5,948)
Distributed earnings from unconsolidated subsidiaries 7,048 28,500
Other, net 884 (534)
Change in:    
Premiums receivable (33,037) (30,822)
Reinsurance related assets and liabilities (3,449) (6,533)
Other assets 5,320 16,506
Reserve for losses and loss adjustment expenses (75,496) (35,012)
Unearned premiums 70,000 42,309
Other liabilities (24,023) (53,245)
Net cash provided (used) by operating activities (46,641) 6,673
Purchases of:    
Fixed maturities, available-for-sale (261,485) (486,130)
Equity investments (1,354) (34,815)
Other investments (31,845) (27,576)
Investment in unconsolidated subsidiaries (17,674) (25,445)
Proceeds from sales or maturities of:    
Fixed maturities, available-for-sale 354,605 433,423
Equity investments 2,633 77,952
Other investments 67,411 22,333
Net sales or (purchases) of fixed maturities, trading (2,586) (756)
Return of invested capital from unconsolidated subsidiaries 23,971 33,284
Net sales or maturities (purchases) of short-term investments 31 (72,495)
Unsettled security transactions, net change 4,312 (5,588)
Purchases of capital assets (3,345) (3,484)
Other 2,661 (2,452)
Net cash provided (used) by investing activities 137,335 (91,749)
Financing Activities    
Repurchase of common stock (50,488) (3,252)
Dividends to shareholders (5,379) (8,080)
Capital contribution received from (return of capital to) external segregated portfolio cell participants 50 (6,978)
Other (2,726) 1,156
Net cash provided (used) by financing activities (58,543) (17,154)
Increase (decrease) in cash and cash equivalents 32,151 (102,230)
Cash and cash equivalents at beginning of period 29,959 143,602
Cash and cash equivalents at end of period 62,110 41,372
Significant Non-Cash Transactions    
Dividends declared and not yet paid 0 2,698
Operating ROU assets obtained in exchange for operating lease liabilities 0 3,133
Increase (decrease) in fair value of contingent consideration issued in NORCAL acquisition $ (5,500) $ 0