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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ 2,494 $ (14,773)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:    
Amortization and depreciation 1,687 1,605
Amortization of debt issuance costs 0 35
Restricted stock and stock option expense 1,080 860
Deferred federal income taxes 573 (3,413)
Amortization of bond premium and discount, net (547) 1,461
Net realized investment losses 1,520 25,385
Loss from equity method investments, net of distributions 82 483
Changes in:    
Premium receivables, net 14,119 (5,834)
Reinsurance receivables, net (1,051) 186
Funds held by ceding insurers 1,598 1,455
Unpaid losses and loss adjustment expenses 25,116 10,428
Unearned premiums (27,408) 9,784
Ceded balances payable (11,244) (22,093)
Other assets and liabilities (7,386) (8,559)
Contingent commissions (5,044) (2,945)
Deferred acquisition costs 6,540 (5,002)
Prepaid reinsurance premiums 3,197 875
Net cash provided by (used for) operating activities 5,326 (10,062)
Cash flows from investing activities:    
Proceeds from sale of fixed maturities 44,381 140,150
Proceeds from sale of equity securities 0 86,173
Proceeds from maturity of fixed maturities 17,515 16,312
Proceeds from maturity of preferred stock 270 0
Proceeds from other invested assets 425 4,679
Amounts received in connection with derivatives 0 2,567
Purchases of fixed maturities (60,426) (145,955)
Purchases of equity securities (19) (10,362)
Net cash provided by investing activities 2,146 93,564
Cash flows from financing activities:    
Distributions paid to common shareholders (3,919) (3,654)
Distributions paid to preferred shareholders (110) (110)
Purchases of class A common shares (6,552) (120)
Net cash used for financing activities (10,581) (3,884)
Net change in cash and cash equivalents (3,109) 79,618
Cash and cash equivalents at beginning of period 38,846 78,278
Cash and cash equivalents at end of period $ 35,737 $ 157,896