v2.3.0.15
Consolidated Statements Of Cash Flows (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net income (loss)$ (16,021)$ 63,175
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:  
Amortization of trust preferred securities issuance costs5962
Amortization and depreciation1,5561,825
Restricted stock expense(1,177)2,713
Deferred federal income taxes(341)3,560
Amortization of bond premium and discount, net4,2342,579
Net realized investment gains(21,671)(21,619)
Equity in net (income) loss of partnerships(53)29
Changes in:  
Premiums receivable, net(3,611)1,111
Reinsurance receivables118,89480,240
Unpaid losses and loss adjustment expenses(81,521)(137,278)
Unearned premiums(6)14,151
Ceded balances payable(3,837)(10,834)
Other assets and liabilities, net(3,370)(8,464)
Contingent commissions(3,567)(4,449)
Federal income taxes payable1,939(4,264)
Deferred acquisition costs6,591(2,911)
Prepaid reinsurance premiums3,3424,482
Net cash provided by (used for) operating activities1,440(15,892)
Cash flows from investing activities:  
Proceeds from sale of fixed maturities604,606560,306
Proceeds from sale of stocks78,49130,442
Proceeds from maturity of fixed maturities37,90036,245
Proceeds from sale of other invested assets1,34868
Purchases of fixed maturities(621,350)(595,832)
Purchases of stocks(100,505)(91,417)
Purchases of other invested assets(10,050) 
Acquisition of business, net of cash acquired (14,970)
Net cash used for investing activities(9,560)(75,158)
Cash flows from financing activities:  
Tax expense associated with share-based compensation plans(106)(221)
Purchases of Class A ordinary shares(167)(163)
Principal payments of term debt(18,214)(213)
Net cash used for financing activities(18,487)(597)
Effect of exchange rates on cash and cash equivalents (43)
Net change in cash and cash equivalents(26,607)(91,690)
Cash and cash equivalents at beginning of period119,888186,087
Cash and cash equivalents at end of period$ 93,281$ 94,397