v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows From Operating Activities    
Net income (loss) $ 40,647 $ 10,767
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Net accretion of bond premium 799 3,061
Depreciation and amortization 4,992 5,835
Stock-based compensation expense 3,699 2,711
Net investment (gains) losses 1,900 2,672
Net cash flows from equity and trading investments 0 56,381
Deferred income tax expense (benefit) (6,370) (9,729)
Changes in:    
Accrued investment income (523) (609)
Premiums receivable (61,859) (119,730)
Deferred policy acquisition costs (14,752) (17,512)
Reinsurance receivables (16,993) (20,719)
Prepaid reinsurance premiums 5,155 (5,217)
Income taxes receivable 8,193 1,863
Other assets 14,422 12,121
Losses and loss settlement expenses 63,349 116,984
Unearned premium 78,227 84,264
Accrued expenses and other liabilities (34,598) 1,996
Other, net 2,776 2,368
Net cash provided by (used in) operating activities 89,064 127,507
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 24,318 233,999
Proceeds from call and maturity of available-for-sale investments 111,233 67,124
Proceeds from sale of other investments 6,085 6,097
Purchase of available-for-sale investments (186,832) (432,768)
Purchase of other investments (29,076) (3,216)
Net purchases and sales of property and equipment (4,233) (5,840)
Net cash provided by (used in) investing activities (78,505) (134,604)
Cash Flows From Financing Activities    
Debt note issuance 0 70,000
Debt note issuance costs 0 (3,050)
Issuance of common stock (1,218) (370)
Payment of cash dividends (8,141) (8,099)
Net cash provided by (used in) financing activities (9,359) 58,481
Net Change in Cash and Cash Equivalents 1,200 51,384
Cash and Cash Equivalents at Beginning of Period 200,949 102,046
Cash and Cash Equivalents at End of Period 202,149 153,430
Supplemental Disclosures of Cash Flow Information    
Income taxes paid 16,200 9,612
Interest paid $ 4,967 $ 2,319