XML 43 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest Paid, Excluding Capitalized Interest, Operating Activities $ 9,553 $ 9,534 $ 9,533
Proceeds from Income Tax Refunds 2,487 (19,895)  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (469,966) (59,868) (95,498)
Net Income (Loss) Attributable to Parent (469,855) (57,919) (96,454)
Property, Plant and Equipment, Transfers and Changes 2,884 21 2,949
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) 37 (108) 140
Reinsurance Recoverable, Allowance for Credit Loss, Period Increase (Decrease) 40 177 386
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) 0 (20) 20
Net Cash Provided by (Used in) Operating Activities (173,113) (295,391) (10,471)
Net Cash Provided by (Used in) Investing Activities 236,835 251,377 36,566
Investment in Subsidiary - NCI (18,335) 0 0
Net Cash Provided by (Used in) Financing Activities (25,390) (12,206) (11,654)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect 38,332 (56,220) 14,441
Cash, Cash Equivalents, and Restricted Cash 283,610 245,278 301,498
Depreciation and amortization 23,312 11,768 11,046
Accretion (Amortization) of Discounts and Premiums, Investments (5,624) (8,814) (6,422)
Debt and Equity Securities, Gain (Loss) (32,082) 3,567 66,691
Unrealized Gain (Loss) on Investments (6,585) 3,237 (27,562)
Increase (Decrease) in Deferred Income Taxes (24,138) 22,816 9,894
Share-based Payment Arrangement, Noncash Expense 1,388 1,185 1,382
Payment receivable in connection with HCI renewal rights agreement 3,800 (3,800) 0
HCI Stock Issued in Connection with Renewal Rights Agreement 0 (5,007) 0
Increase (Decrease) in Accrued Investment Income Receivable (234) (1,384) (1,221)
Increase (Decrease) in Premiums Receivable 6,833 (8,065) 496
Increase (Decrease) in Reinsurance Recoverable 634,248 175,787 270,890
Increase (Decrease) in Prepaid Reinsurance Premiums (217,603) 46,043 114,554
Increase (Decrease) in Deferred Policy Acquisition Costs (20,413) 35,894 30,158
Increase (Decrease) in Other Operating Assets 3,218 (20,898) 31,917
Unpaid losses and loss adjustment expenses 862,488 (5,516) 329,609
Unearned premiums (99,120) (78,998) 49,883
Reinsurance payable (188,729) 6,989 75,505
Payments outstanding 100,533 36,612 20,357
Accounts payable (1,755) (14,915) 12,581
Change in Operating Lease Liability (245) (377) 1,987
Increase (Decrease) in Other Operating Liabilities (16,292) (7,041) 9,353
Proceeds from sales and maturities of investments available for sale 250,536 442,406 695,288
Proceeds from Sale of Equity Securities, FV-NI 750 12,691 144,990
Proceeds from Sale and Maturity of Other Investments 2,825 72,462 4,586
Payments to Acquire Debt Securities, Available-for-sale 25,545 198,553 726,862
Purchases of Equity Investments 7,648 30,222 26,540
Payments to Acquire Other Investments 2,272 42,136 44,048
Payments to Acquire Property, Plant, and Equipment 3,047 5,271 10,848
Payment, Tax Withholding, Share-based Payment Arrangement 25 39 112
Repayments of Long-term Debt 4,441 1,817 1,229
Payments of Dividends 2,589 10,350 10,313
Income taxes paid     1,265
Gain on sale of building (12,888)    
Proceeds from Sale of Property, Plant, and Equipment 21,236    
Adjustments to reconcile net loss to net cash used in operating activities:      
Reinsurance Recoverable, Allowance for Credit Loss, Period Increase (Decrease) (40) (177) (386)
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) 0 20 (20)
Depreciation and amortization 23,312 11,768 11,046
Accretion (Amortization) of Discounts and Premiums, Investments 5,624 8,814 6,422
Net realized gains (losses) 32,082 (3,567) (66,691)
Unrealized Gain (Loss) on Investments 6,585 (3,237) 27,562
Deferred income taxes, net 24,138 (22,816) (9,894)
Share-based Payment Arrangement, Noncash Expense 1,388 1,185 1,382
Changes in operating assets and liabilities:      
Accrued investment income 234 1,384 1,221
Premiums receivable (6,833) 8,065 (496)
Reinsurance recoverable on paid and unpaid losses (634,248) (175,787) (270,890)
Prepaid reinsurance premiums 217,603 (46,043) (114,554)
Deferred policy acquisition costs, net 20,413 (35,894) (30,158)
Other assets (3,218) 20,898 (31,917)
Unpaid losses and loss adjustment expenses 862,488 (5,516) 329,609
Unearned premiums (99,120) (78,998) 49,883
Reinsurance payable (188,729) 6,989 75,505
Payments outstanding 100,533 36,612 20,357
Accounts payable (1,755) (14,915) 12,581
Change in Operating Lease Liability (245) (377) 1,987
Other Liabilities (16,292) (7,041) 9,353
Net Cash Provided by (Used in) Operating Activities (173,113) (295,391) (10,471)
INVESTING ACTIVITIES      
Proceeds from sales and maturities of investments available for sale 250,536 442,406 695,288
Proceeds from Sale and Maturity of Other Investments 2,825 72,462 4,586
Purchases of Equity Investments (7,648) (30,222) (26,540)
Payments to Acquire Other Investments (2,272) (42,136) (44,048)
Payments to Acquire Debt Securities, Available-for-sale (25,545) (198,553) (726,862)
Payments to Acquire Property, Plant, and Equipment (3,047) (5,271) (10,848)
Net Cash Provided by (Used in) Investing Activities 236,835 251,377 36,566
FINANCING ACTIVITIES      
Payment, Tax Withholding, Share-based Payment Arrangement (25) (39) (112)
Repayments of borrowings (4,441) (1,817) (1,229)
Payments of Dividends (2,589) (10,350) (10,313)
Net Cash Provided by (Used in) Financing Activities (25,390) (12,206) (11,654)
Cash, Cash Equivalents, and Restricted Cash at beginning of period 245,278 301,498 287,057
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect 38,332 (56,220) 14,441
Cash, Cash Equivalents, and Restricted Cash at end of period $ 283,610 $ 245,278 301,498
Supplemental Cash Flows Information      
Income taxes paid     $ 1,265