v3.25.2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 58,145 $ 136,030
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 34,946 34,738
Net realized investment gains (46,801) (41,090)
Net (gains) losses on sales of fixed assets (2,691) 71
Loss on property held for sale 0 6,145
Increase in premiums receivable (59,478) (103,766)
(Increase) decrease in reinsurance recoverables (362,103) 2,188
Changes in current and deferred income taxes 9,246 3,810
Increase in deferred policy acquisition costs (13,814) (33,016)
Increase in loss and loss adjustment expense reserves 460,129 190,701
Increase in unearned premiums 145,016 238,474
Increase in accounts payable and accrued expenses 49,695 29,347
Other, net 30,586 7,038
Net cash provided by operating activities 302,876 470,670
Fixed maturity securities available for sale in nature:    
Purchases (932,141) (789,541)
Sales 394,363 145,144
Calls or maturities 437,461 261,280
Equity securities available for sale in nature:    
Purchases (983,126) (768,728)
Sales 1,227,331 721,754
Calls 0 7,185
Changes in securities payable and receivable 1,553 20,607
Decrease in short-term investments 2,061 41,492
Purchases of fixed assets (27,513) (21,857)
Sales of fixed assets 12,733 4
Other, net 2,892 7,007
Net cash provided by (used in) investing activities 135,614 (375,653)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (35,172) (35,160)
Payments on finance lease obligations (1,323) (1,427)
Net cash used in financing activities (36,495) (36,587)
Net increase in cash 401,995 58,430
Cash:    
Beginning of the year 720,257 550,903
End of period 1,122,252 609,333
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 14,125 15,012
Income taxes (refunded) paid, net $ (2,939) $ 24,477