|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
| Operating Activities |
|
|
| Net income attributable to Atlas |
$ 17,702 |
$ 6,180 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
| Amortization of fixed assets |
856 |
795 |
| Share-based compensation expense |
1,469 |
247 |
| Amortization of deferred gain on sale of headquarters building |
(43) |
(43) |
| Deferred income taxes |
(8,776) |
(1,072) |
| Net realized gains |
(382) |
(433) |
| (Gain) loss in equity of investee |
(632) |
28 |
| Amortization of bond premiums and discounts |
756 |
1,092 |
| Net changes in operating assets and liabilities: |
|
|
| Accounts receivable and other assets, net |
(11,826) |
(7,490) |
| Due from reinsurers and other insurers |
(2,925) |
(6,872) |
| Deferred policy acquisition costs |
(1,492) |
(1,676) |
| Other assets and accrued investment income |
34 |
(14) |
| Claims liabilities |
1,045 |
(4,891) |
| Unearned premiums |
14,718 |
9,174 |
| Due to reinsurers and other insurers |
(157) |
(1,476) |
| Accounts payable and accrued liabilities |
3,369 |
531 |
| Net cash flows provided by (used in) operating activities |
13,716 |
(5,920) |
| Investing activities: |
|
|
| Purchase of Gateway (net of cash acquired) |
0 |
11,081 |
| Fixed income securities |
(31,671) |
(69,328) |
| Equity securities |
(1,969) |
0 |
| Other investments |
(12,500) |
0 |
| Property, equipment and other |
(1,177) |
(1,245) |
| Fixed income securities |
35,332 |
55,328 |
| Equity securities |
12 |
1,388 |
| Property, equipment and other |
10 |
0 |
| Net cash flows used in investing activities |
(11,963) |
(2,776) |
| Financing activities: |
|
|
| Repurchase of preferred shares |
0 |
(16,200) |
| Proceeds from initial public offering, net of offering costs |
0 |
9,756 |
| Issuance of common shares |
25,021 |
0 |
| Warrants exercised |
0 |
7,181 |
| Dividends paid |
0 |
(2,145) |
| Options exercised |
1 |
3 |
| Net cash flows provided by financing activities |
25,022 |
(1,405) |
| Cash and Cash Equivalents, Period Increase (Decrease) [Abstract] |
|
|
| Net change in cash and cash equivalents |
26,775 |
(10,101) |
| Cash and cash equivalents, beginning of period |
9,811 |
19,912 |
| Cash and cash equivalents, end of period |
36,586 |
9,811 |
| Supplemental disclosure of cash information (in '000's): |
|
|
| Cash paid for interest |
3,308 |
1,430 |
| Cash paid for income taxes |
$ 0 |
$ 129 |