| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Operating activities: | ||||||
Net Income (Loss) Attributable to Parent | ||||||
63,316 | 33,787 | 24,901 | 26,167 | 22,273 | 12,973 | - |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Change in fair value of equity securities | ||||||
12,389 | -6,555 | 0 | 0 | - | - | - |
Net investment gains | ||||||
359 | 281 | 151 | 176 | 59 | 201 | - |
Deferred tax (benefit) expense | ||||||
-125 | -3,230 | 1,065 | 561 | -879 | -2,231 | - |
Depreciation and amortization | ||||||
682 | 631 | 515 | 636 | 642 | 570 | - |
Stock compensation expense | ||||||
2,742 | 1,597 | 652 | 492 | 65 | 58 | - |
Change in operating assets and liabilities: | ||||||
Investment income due and accrued | ||||||
960 | 706 | 784 | 449 | 447 | 331 | - |
Premiums receivable, net | ||||||
10,230 | 4,466 | 2,803 | 1,434 | 1,324 | 957 | - |
Reserves for unpaid loss and loss adjustment expenses | ||||||
90,906 | 53,435 | 50,916 | 45,172 | 57,418 | 65,846 | - |
Unearned premiums | ||||||
59,124 | 25,140 | 13,766 | 7,631 | 6,460 | 12,235 | - |
Reinsurance balances, net | ||||||
13,246 | 8,070 | -28,081 | -54,788 | 29,501 | 42,379 | - |
Funds held for reinsurers | ||||||
0 | 0 | 36,497 | 50,709 | -23,274 | -28,156 | - |
Increase (Decrease) in Deferred Policy Acquisition Costs | ||||||
8,763 | 3,026 | 1,625 | - | - | - | - |
Deferred policy acquisition costs | ||||||
- | - | - | -11,846 | -2,067 | 2,974 | - |
Income taxes payable | ||||||
1,221 | 18 | -922 | -482 | -1,393 | 259 | - |
Accounts payable and accrued expenses | ||||||
2,972 | 464 | -2,299 | 1,342 | 2,506 | 1,637 | - |
Other | ||||||
-3,466 | -2,132 | -2,583 | -2,048 | -1,734 | -1,459 | - |
Net cash provided by operating activities | ||||||
178,357 | 103,980 | 77,398 | 73,741 | 78,702 | 80,068 | 61,797 |
Investing Activities: | ||||||
Investing Activities | ||||||
Purchase of property and equipment | ||||||
19,622 | 1,273 | 179 | 565 | 231 | 1,059 | 215 |
Change in short-term investments, net | ||||||
- | - | - | -2,299 | -1,957 | 258 | 3,999 |
Purchases – fixed-maturity securities | ||||||
306,203 | 194,989 | 111,580 | 149,572 | 128,204 | 93,930 | 78,938 |
Purchases - equity securities | ||||||
29,887 | 12,656 | 31,608 | 2,442 | 372 | 5,298 | 1,210 |
Sales – fixed-maturity securities | ||||||
35,526 | 10,427 | 12,040 | 13,541 | 14,328 | 4,796 | 3,252 |
Sales - equity securities | ||||||
21,459 | 2,429 | 0 | 0 | - | - | - |
Maturities and calls – fixed-maturity securities | ||||||
67,934 | 89,522 | 88,895 | 48,595 | 32,475 | 13,179 | 11,827 |
Net cash used in investing activities | ||||||
-230,793 | -106,540 | -42,432 | -88,144 | -80,047 | -82,570 | -73,944 |
Financing Activities | ||||||
Proceeds from Issuance of Common Stock | ||||||
65,879 | 0 | 0 | - | 90 | 100 | 0 |
Proceeds from credit facility | ||||||
17,300 | 0 | 0 | - | - | - | - |
Proceeds from note payable | ||||||
- | - | - | - | 2,000 | 10,500 | - |
Repayment of note payable | ||||||
- | - | - | 30,000 | 0 | 0 | 4,000 |
Debt issuance costs | ||||||
628 | 0 | 0 | - | 30 | 233 | - |
Payroll taxes withheld and remitted on share-based payments | ||||||
617 | 0 | 0 | - | - | - | - |
Common stock issued, net of transaction costs | ||||||
- | - | - | 72,841 | 0 | 0 | - |
Proceeds from stock options exercised | ||||||
2,750 | 1,808 | 1,077 | 0 | 0 | - | - |
Dividends paid | ||||||
6,929 | 5,906 | 5,039 | 2,097 | 0 | 0 | - |
Payments on capital lease | ||||||
0 | 0 | 9 | 133 | 129 | 125 | 290 |
Net cash provided by (used in) financing activities | ||||||
77,755 | -4,098 | -3,971 | 40,611 | 1,931 | 10,242 | 12,644 |
Net change in cash and cash equivalents | ||||||
25,319 | -6,658 | 30,995 | 26,208 | 586 | 7,740 | 497 |