| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net Income (Loss) Attributable to Parent | ||||||
38,339 | 63,830 | 43,566 | 74,471 | 53,497 | 44,685 | 67,337 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Deferred policy acquisition costs | ||||||
-91,449 | -93,188 | -123,577 | -105,659 | -98,302 | -99,181 | -68,516 |
Amortization of policy acquisition costs | ||||||
83,893 | 111,103 | 116,001 | 101,624 | 97,750 | 85,183 | 71,648 |
Net realized investment losses | ||||||
-2,919 | -5,479 | -1,989 | 7,565 | -4,547 | -1,336 | 12,619 |
Impairment of intangible assets | ||||||
0 | 200 | 0 | 0 | - | - | - |
Distributions from equity method investments | ||||||
2,834 | 7,499 | 7,333 | 3,467 | 2,885 | 3,904 | 2,637 |
Income (Loss) from Equity Method Investments | ||||||
4,598 | 3,540 | 13,209 | 8,743 | 2,468 | 5,163 | 4,620 |
Trading securities purchases, sales, and maturities, net | ||||||
0 | -3,804 | -1,250 | 0 | -2,319 | -9,808 | -1,518 |
Deferred Income Tax Expense (Benefit) | ||||||
-4,925 | -5,859 | -364 | 5,093 | 922 | -3,761 | 2,481 |
Provision for depreciation and amortization | ||||||
4,063 | 4,215 | 2,123 | 2,414 | 2,004 | 2,760 | 3,567 |
Share based compensation expense | ||||||
7,178 | 6,228 | 7,688 | 5,492 | 3,735 | 589 | 647 |
Excess tax benefits from equity incentive plan transactions | ||||||
1,099 | 2,699 | 2,115 | -3,191 | -3,580 | - | - |
Change in operating assets and liabilities: | ||||||
Reserve for losses and loss adjustment expenses | ||||||
384,047 | 369,110 | 348,484 | 158,543 | 69,026 | 69,844 | -63,269 |
Unearned premiums | ||||||
137,904 | -31,641 | 27,551 | 89,459 | 23,525 | 59,047 | -20,523 |
Premiums receivable and agents’ balances | ||||||
61,563 | -44,537 | 87,121 | 88,630 | 14,158 | 26,638 | -114,985 |
Reinsurance balances | ||||||
235,632 | 187,024 | 113,665 | 68,497 | 28,213 | 24,302 | -27,050 |
Funds held | ||||||
-1,199,164 | 0 | 0 | - | - | - | - |
Payable to insurance companies | ||||||
263 | -2,029 | 445 | -950 | 4,170 | -4,090 | -22,126 |
Other | ||||||
-27,684 | -3 | 8,563 | 9,361 | 4,848 | -16,372 | -5,441 |
Net cash (used in) provided by operating activities | ||||||
1,489,022 | 290,028 | 207,816 | 154,349 | 119,971 | 130,393 | 105,638 |
Net cash (used in) provided by operating activities | ||||||
Debt Securities, Available-for-sale [Abstract] | ||||||
Purchases – fixed maturity securities | ||||||
450,793 | 418,011 | 270,014 | 300,135 | 393,168 | 161,951 | 226,292 |
Sales – fixed maturity securities | ||||||
121,245 | 95,793 | 77,781 | 110,124 | 110,122 | 28,101 | 260,182 |
Maturities and calls – fixed maturity securities | ||||||
128,809 | 129,139 | 121,890 | 135,472 | 122,791 | 47,775 | 60,480 |
Purchases – equity securities | ||||||
4,975 | 7,507 | 5,540 | 3,680 | 18,519 | 8,133 | 16,207 |
Sales – equity securities | ||||||
8,656 | 5,578 | 3,522 | 14,850 | 14,068 | 16,612 | 1,127 |
Bank loan participations: | ||||||
Purchases | ||||||
102,794 | 203,328 | 240,799 | 156,638 | 109,107 | 272,902 | 273,249 |
Sales | ||||||
48,415 | 123,114 | 138,214 | 51,077 | 113,391 | 157,863 | 150,724 |
Maturities | ||||||
45,277 | 58,742 | 69,740 | 97,097 | 37,388 | 75,185 | 98,518 |
Other invested assets: | ||||||
Purchases | ||||||
0 | 6,993 | 8,913 | 2,365 | 52,663 | 6,800 | 16,525 |
Return of capital | ||||||
1,877 | 921 | 0 | 226 | 237 | - | 246 |
Disposals | ||||||
- | - | - | - | 1,374 | 9,470 | - |
Redemptions | ||||||
10,998 | 0 | 0 | 6,500 | 30,753 | - | - |
Short-term investments, net | ||||||
74,959 | 45,162 | -14,040 | 31,574 | -112,586 | 60,338 | -8,130 |
Securities receivable or payable, net | ||||||
-5,404 | -2,268 | 2,525 | -1,018 | 2,104 | -1,332 | -330 |
Other | ||||||
519 | 1,326 | 2,137 | 2,736 | 1,312 | 1,091 | 709 |
Net cash used in investing activities | ||||||
-263,359 | -266,772 | -104,741 | -80,764 | -34,163 | -174,877 | 46,755 |
Financing activities | ||||||
Senior debt issuances | ||||||
60,000 | 20,000 | 10,000 | 0 | 10,000 | 30,300 | 43,000 |
Senior debt repayments | ||||||
20,000 | 0 | 0 | - | 10,000 | - | 20,000 |
Dividends paid | ||||||
36,720 | 36,123 | 50,832 | 65,988 | 47,405 | 69,998 | - |
Issuance of common shares under equity incentive plans | ||||||
8,286 | 5,172 | 1,708 | 2,260 | 1,730 | - | - |
Common share repurchases | ||||||
2,899 | 2,239 | 9,448 | 4,907 | 6,461 | - | 110,760 |
Other financing activities | ||||||
-711 | -1,104 | -792 | -1,572 | -649 | -1,039 | -1,294 |
Non-Controlling Interest - Subsidiary common share repurchases (Note 12) | ||||||
- | - | - | - | - | - | 529 |
Net cash provided by (used in) financing activities | ||||||
7,956 | -14,294 | -49,364 | -70,207 | -52,785 | -40,737 | -89,583 |
Change in cash, cash equivalents, and restricted cash equivalents | ||||||
1,233,619 | 8,962 | 53,711 | 3,378 | 33,023 | -85,221 | 62,810 |
Supplemental information | ||||||
U.S. federal income taxes paid, net | ||||||
18,719 | 8,174 | 9,848 | -59 | -2,827 | 7,933 | 5,820 |
Interest paid | ||||||
12,354 | 11,269 | 8,909 | 8,121 | 7,342 | 6,682 | 7,625 |