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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ (18,460) $ (12,516)
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 3,207 2,510
Bond amortization and accretion 2,290 1,564
Net realized gains (losses) (503) 68
Unrealized Gain (Loss) on Investments (2,564) 26,456
Provision for uncollectable premiums/over and short 83 10
Reinsurance Recoverable Change in Credit Loss Allowance 125 0
Financing Receivable, Change in Credit Loss Allowance 147 0
Deferred income taxes, net (7,580) (3,461)
Stock based compensation 260 700
Proceeds from contractual commitment (5,007) 0
Gain (Loss) on Disposition of Assets 15 0
Changes in operating assets and liabilities:    
Accrued investment income 405 423
Premiums receivable 8,542 (3,854)
Reinsurance recoverable on paid and unpaid losses (134,777) 35,395
Ceded unearned premiums 88,470 90,521
Deferred policy acquisition costs, net 2,667 (310)
Other assets 3,937 (6,999)
Unpaid losses and loss adjustment expenses 127,825 (49,315)
Unearned premiums (45,025) (9,436)
Reinsurance payable (90,526) (53,741)
Payments outstanding (1,542) (12,526)
Accounts Payable (11,496) (8,086)
Change in Operating Lease Liability (145) 2,097
Other liabilities 13,544 17,998
Net cash provided by operating activities (66,652) 17,498
INVESTING ACTIVITIES    
Proceeds from sales and maturities of fixed maturities 80,563 63,743
Proceeds from Sale of Available-for-sale Securities, Equity 117 1,233
Proceeds from Sale and Maturity of Other Investments 13,483 212
Payments to Acquire Fixed Maturities, Available-for-sale (39,836) (58,266)
Purchases of Equity securities (5,012) (21,116)
Payments to Acquire Other Investments (7,478) (1,481)
Cost of property, equipment and capitalized software acquired (857) (3,515)
Net cash provided by (used in) investing activities 40,980 (19,190)
FINANCING ACTIVITIES    
Repayments of borrowings (675) (381)
Payments of Dividends (2,595) (2,571)
Net Cash Provided by (Used in) Financing Activities (3,270) (2,952)
Cash, Cash Equivalents, Restricted Cash at beginning of period 301,498 287,057
Cash, Cash Equivalents, Restricted Cash at end of period 272,556 282,413
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect (28,942) (4,644)
Supplemental Cash Flows Information    
Interest Paid 43 70
Income taxes refunded $ (2,506) $ 0