Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| Operating Activities: |
|
|
| Net earnings |
$ 20,083
|
$ 10,510
|
| Adjustments: |
|
|
| Depreciation |
3,696
|
4,177
|
| Amortization |
4,840
|
5,327
|
| Net realized gains on investments |
2,832
|
(509)
|
| Loss on disposal of property and equipment |
10
|
(2)
|
| Share-based compensation expense |
1,731
|
1,384
|
| Activity related to rabbi trust |
(13)
|
69
|
| Change in accrued investment income |
2,980
|
246
|
| Change in agents’ balances and premium receivable |
(49,243)
|
(17,118)
|
| Change in reinsurance receivables |
8,216
|
917
|
| Change in deferred policy acquisition costs |
(10,372)
|
(2,957)
|
| Change in other assets |
(804)
|
(4,505)
|
| Change in unpaid losses and loss adjustment expenses |
(14,092)
|
(6,508)
|
| Change in unearned premium |
63,889
|
26,943
|
| Change in other liabilities |
(9,815)
|
5,565
|
| Net cash provided by operating activities |
23,939
|
23,538
|
| Investing Activities: |
|
|
| Purchases of fixed maturities |
(403,516)
|
(120,831)
|
| Purchases of equity securities |
0
|
(1,900)
|
| Purchases of property and equipment |
(313)
|
(889)
|
| Maturities and redemptions of fixed maturities |
32,497
|
43,319
|
| Proceeds from sale of fixed maturities |
328,064
|
37,671
|
| Proceeds from sale of equity securities |
5,013
|
2,002
|
| Proceeds from sale of short-term investments |
2,528
|
2,400
|
| Proceeds from sale of property and equipment |
0
|
19
|
| Net cash used in investing activities |
(35,727)
|
(38,209)
|
| Financing Activities: |
|
|
| Proceeds from stock options exercised and employee stock purchases |
70
|
65
|
| Principal payments under capital lease obligations |
(138)
|
(135)
|
| Acquisition of treasury stock |
(594)
|
(2,296)
|
| Dividends paid to shareholders |
(6,346)
|
(6,402)
|
| Net cash used in financing activities |
(7,009)
|
(8,768)
|
| Net increase (decrease) in cash and cash equivalents |
(18,796)
|
(23,438)
|
| Cash and cash equivalents at beginning of period |
107,589
|
92,800
|
| Cash and cash equivalents at end of period |
$ 88,793
|
$ 69,361
|