v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Operating Activities          
Net income (loss) $ 16,441 $ (49,434) $ 36,575 $ (44,981)  
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:          
Goodwill impairment 0 44,110 0 44,110 $ 44,110
Depreciation and amortization, net of accretion 3,880 6,454 13,645 20,085  
(Increase) decrease in cash surrender value of BOLI     (2,087) 4,244  
Net investment (gains) losses (2,252) 2,702 (5,146) (3,156)  
Share-based compensation     3,993 3,817  
Deferred income tax expense (benefit) 3,776 (3,427) 6,869 (3,448)  
Policy acquisition costs, net of amortization (net deferral)     (3,491) (9,109)  
Equity in (earnings) loss of unconsolidated subsidiaries (4,767) 61 (16,383) (5,450)  
Distributed earnings from unconsolidated subsidiaries     12,760 7,048  
Other, net     588 884  
Change in:          
Premiums receivable     (29,412) (33,037)  
Reinsurance related assets and liabilities     2,394 (3,449)  
Other assets     (5,727) 5,320  
Reserve for losses and loss adjustment expenses     (61,598) (75,496)  
Unearned premiums     44,179 70,000  
Other liabilities     (7,636) (24,023)  
Net cash provided (used) by operating activities     (10,477) (46,641)  
Purchases of:          
Fixed maturities, available-for-sale (186,500) (127,300) (650,626) (261,485)  
Equity investments     (1,537) (1,354)  
Other investments     (18,543) (31,845)  
Investment in unconsolidated subsidiaries     (17,167) (17,674)  
Proceeds from sales or maturities of:          
Fixed maturities, available-for-sale     551,239 354,605  
Equity investments     22,049 2,633  
Other investments     78,283 67,411  
Net sales or (purchases) of fixed maturities, trading     (3,267) (2,586)  
Return of invested capital from unconsolidated subsidiaries     26,056 23,971  
Net sales or maturities (purchases) of short-term investments     9,788 31  
Unsettled security transactions, net change     4,656 4,312  
Purchases of capital assets     (6,655) (3,345)  
Other     0 2,661  
Net cash provided (used) by investing activities     (5,724) 137,335  
Financing Activities          
Borrowings (repayments) under Revolving Credit Agreement     (3,125) 0  
Repurchase of common stock     0 (50,488)  
Dividends to shareholders     0 (5,379)  
Capital contribution received from (return of capital to) external segregated portfolio cell participants     0 50  
Other     (1,274) (2,726)  
Net cash provided (used) by financing activities     (4,399) (58,543)  
Increase (decrease) in cash and cash equivalents     (20,600) 32,151  
Cash and cash equivalents at beginning of period     65,898 29,959 29,959
Cash and cash equivalents at end of period $ 45,298 $ 62,110 45,298 62,110 $ 65,898
Significant Non-Cash Transactions          
Operating lease liabilities arising from obtaining ROU assets     2,176 0  
Increase (decrease) in fair value of contingent consideration issued in NORCAL acquisition     $ (6,500) $ (5,500)