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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income $ 58,101 $ 58,676
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 738 684
Net amortization of investments 6,206 6,520
Change in investment related allowance for credit losses (13)  
Deferred income taxes (1,398) (203)
Net realized (gains) losses on investments (1,464) 27
Net unrealized (gains) losses on equity securities 2,349 (3,165)
Net realized losses on disposal of assets 29 2
Share-based compensation 2,594 882
Changes in operating assets and liabilities:    
Premiums receivable, net (13,175) (8,171)
Accrued interest receivable 235 (207)
Deferred policy acquisition costs (189) (607)
Amounts held by others 7,855  
Other assets (387) (949)
Reserves for loss and loss adjustment expenses (12,975) (7,597)
Unearned premiums 2,355 5,339
Reinsurance balances (2,485) 9,140
Amounts held for others and policyholder deposits 2,054 2,416
Federal income taxes payable 1,565 (1,863)
Accounts payable and other liabilities (1,127) 1,554
Net cash provided by operating activities 50,868 62,478
Investing activities    
Purchases of investments held-to-maturity (62,190) (115,712)
Purchases of investments available-for-sale (61,023) (46,104)
Purchases of equity securities (10,267) (4,120)
Purchases of short-term investments (96,484) (79,224)
Proceeds from maturities of investments held-to-maturity 86,153 120,498
Proceeds from sales and maturities of investments available-for-sale 91,493 90,244
Proceeds from sales and maturities of short-term investments 62,387 73,039
Purchases of property and equipment (663) (858)
Net cash provided by investing activities 9,406 37,763
Financing activities    
Proceeds from stock option exercises   20
Finance lease purchases (37) (35)
Dividends to shareholders (15,882) (14,700)
Net cash used in financing activities (15,919) (14,715)
Change in cash and cash equivalents 44,355 85,526
Cash and cash equivalents at beginning of period 43,813 40,344
Cash and cash equivalents at end of period $ 88,168 $ 125,870