XML 33 R6.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest Paid, Excluding Capitalized Interest, Operating Activities $ 9,533 $ 9,730 $ 9,861
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (95,498) (29,485) 394
Net Income (Loss) Attributable to Parent (96,454) (29,872) 290
Property, Plant and Equipment, Transfers and Changes 2,949 0 0
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) 140 (553) (358)
Reinsurance Recoverable, Allowance for Credit Loss, Period Increase (Decrease) 386 0 0
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) 20 0 0
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Reinsurance Recoverable, Allowance for Credit Loss, Period Increase (Decrease) (386) 0 0
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) (20) 0 0
Depreciation and amortization 11,046 11,997 18,482
Accretion (Amortization) of Discounts and Premiums, Investments 6,422 5,323 5,005
Net realized gains (losses) (66,691) (1,228) (1,655)
Unrealized Gain (Loss) on Investments 27,562 (24,761) 9,300
Deferred income taxes, net (9,894) (4,280) (2,470)
Share-based Payment Arrangement, Noncash Expense 1,382 3,007 2,414
Changes in operating assets and liabilities:      
Accrued investment income 1,221 116 (440)
Premiums receivable (496) 8,695 (20,899)
Reinsurance recoverable on paid and unpaid losses (270,890) 75,862 (230,224)
Prepaid reinsurance premiums (114,554) (52,149) (15,981)
Deferred policy acquisition costs, net 30,158 1,010 (1,700)
Other assets (31,917) (6,817) (1,545)
Unpaid losses and loss adjustment expenses 329,609 99,154 178,971
Unearned premiums 49,883 46,742 71,440
Reinsurance payable 75,505 (9,141) 26,155
Payments outstanding 20,357 1,021 14,748
Accounts payable 12,581 7,544 24,454
Change in Operating Lease Liability 1,987 324 0
Other Liabilities 9,353 15,528 (51,048)
Net Cash Provided by (Used in) Operating Activities (10,471) 149,015 25,759
INVESTING ACTIVITIES      
Proceeds from sales and maturities of investments available for sale 695,288 255,197 219,572
Proceeds from Sale of Available-for-sale Securities, Equity 144,990 2,201 9,726
Proceeds from Sale and Maturity of Other Investments 4,586 7,104 1,302
Proceeds from Collection of Policy Loans 0 0 20,000
Purchases of Equity Investments (26,540) (15,373) (34,050)
Payments to Acquire Other Investments (44,048) (6,855) (1,534)
Payments to Acquire Debt Securities, Available-for-sale (726,862) (254,357) (336,590)
Payments to Acquire Property, Plant, and Equipment (10,848) (21,896) (4,068)
Net Cash Provided by (Used in) Investing Activities 36,566 (33,979) (125,642)
FINANCING ACTIVITIES      
Payment, Tax Withholding, Share-based Payment Arrangement (112) (296) (418)
Investment in Subsidiary - NCI 0 0 20,000
Repayments of borrowings (1,229) (1,523) (1,523)
Payments of Debt Issuance Costs 0 0 (63)
Payments of Dividends (10,313) (10,280) (10,268)
Net Cash Provided by (Used in) Financing Activities (11,654) (12,099) 7,728
Cash, Cash Equivalents, and Restricted Cash at beginning of period 287,057 184,120 276,275
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect 14,441 102,937 (92,155)
Cash, Cash Equivalents, and Restricted Cash at end of period 301,498 287,057 184,120
Supplemental Cash Flows Information      
Income taxes paid 1,265 517 4,673
Parent Company      
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (95,498) (29,485) 394
Net Income (Loss) Attributable to Parent (96,454) (29,872) 290
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 2,054 1,131 1,079
Accretion (Amortization) of Discounts and Premiums, Investments 42 66 (6)
Net realized gains (losses) (4,971) (63) 160
Unrealized Gain (Loss) on Investments 2,812 (4,036) 1,223
Deferred income taxes, net 644 (511) (570)
Share-based Payment Arrangement, Noncash Expense 1,382 3,007 2,414
Changes in operating assets and liabilities:      
Accrued investment income 70 113 (192)
Other assets (3,682) 9,976 (908)
Accounts payable 931 (22) (524)
Change in Operating Lease Liability (18) 64 0
Other Liabilities 966 313 0
Net Cash Provided by (Used in) Operating Activities (86,505) (37,913) 76,809
INVESTING ACTIVITIES      
Proceeds from sales and maturities of investments available for sale 32,518 35,036 37,315
Payments to Acquire Property, Plant, and Equipment (688) (4,749) (1,032)
Net Cash Provided by (Used in) Investing Activities 111,945 47,429 (140,477)
FINANCING ACTIVITIES      
Payment, Tax Withholding, Share-based Payment Arrangement (112) (296) (418)
Repayments of borrowings 347 347 347
Payments of Debt Issuance Costs 0 0 63
Payments of Dividends 10,313 10,280 10,268
Net Cash Provided by (Used in) Financing Activities (10,772) (10,923) (11,096)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect $ 14,668 $ (1,407) $ (74,764)