XML 20 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income (loss) $ 4,626 $ (6,174)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Depreciation and amortization, net of accretion 5,332 7,677
(Increase) decrease in cash surrender value of BOLI (452) (656)
Net investment (gains) losses 268 (2,912)
Share-based compensation 945 1,146
Deferred income tax expense (benefit) 1,253 (2,630)
Policy acquisition costs, net of amortization (net deferral) (3,283) (5,830)
Equity in (earnings) loss of unconsolidated subsidiaries (2,963) 1,121
Distributed earnings from unconsolidated subsidiaries 1,778 3,176
Other, net (962) (35)
Change in:    
Premiums receivable (26,701) (20,537)
Reinsurance related assets and liabilities 10,908 (22,547)
Other assets (2,183) 163
Reserve for losses and loss adjustment expenses (18,769) (1,868)
Unearned premiums 43,226 50,746
Other liabilities (24,672) (30,683)
Net cash provided (used) by operating activities (11,649) (29,843)
Purchases of:    
Fixed maturities, available-for-sale (230,549) (68,755)
Equity investments (80) (170)
Other investments (17,381) (11,749)
Investment in unconsolidated subsidiaries (7,871) (9,381)
Proceeds from sales or maturities of:    
Fixed maturities, available-for-sale 167,762 119,447
Equity investments 14,016 868
Other investments 24,068 18,338
Net sales or (purchases) of fixed maturities, trading (1,553) (1,395)
Return of invested capital from unconsolidated subsidiaries 6,882 12,756
Net sales or maturities (purchases) of short-term investments 54,710 (5,432)
Unsettled security transactions, net change 3,077 3,407
Purchases of capital assets (961) (930)
Other 0 2,659
Net cash provided (used) by investing activities 12,120 59,663
Financing Activities    
Dividends to shareholders 0 (2,688)
Capital contribution received from (return of capital to) external segregated portfolio cell participants 0 (18)
Other (969) (639)
Net cash provided (used) by financing activities (969) (3,345)
Increase (decrease) in cash and cash equivalents (498) 26,475
Cash and cash equivalents at beginning of period 65,898 29,959
Cash and cash equivalents at end of period 65,400 56,434
Significant Non-Cash Transactions    
Dividends declared and not yet paid 0 2,701
Operating lease liabilities arising from obtaining ROU assets 1,988 0
Increase (decrease) in fair value of contingent consideration issued in NORCAL acquisition $ 0 $ (2,000)