Condensed Consolidated Statements of Cash Flows | ||||||||||||
(Dollar amounts in thousands, except per share data) | ||||||||||||
For the Six Months Ended | ||||||||||||
June 30, | ||||||||||||
Unaudited2010 | Historical2009 | |||||||||||
| Net cash provided by operating activities | $ | 31,594 | $ | 49,128 | ||||||||
| Cash flows from investing activities: | ||||||||||||
| Proceeds from investments sold or matured: | ||||||||||||
| Securities available for sale: | ||||||||||||
| Fixed maturities sold | 43,443 | 114,876 | ||||||||||
| Fixed maturities matured/called | 58,312 | 123,995 | ||||||||||
| Equity securities | 14,685 | 1,629 | ||||||||||
| Securities held to maturity: | ||||||||||||
| Fixed maturities matured/called | 1,276 | 2,915 | ||||||||||
| Acquisition of investments: | ||||||||||||
| Securities available for sale: | ||||||||||||
| Fixed maturities | (143,742) | (250,641) | ||||||||||
| Equity securities | (17,285) | (2,286) | ||||||||||
| Fixed maturity securities held to maturity | (250) | - | ||||||||||
| Net outflows for policy loans | (114) | (70) | ||||||||||
| Net capital expenditures | (10,197) | (8,876) | ||||||||||
| Net cash used in investing activities | (53,872) | (18,458) | ||||||||||
| Cash flows from financing activities: | ||||||||||||
| Change in outstanding checks in excess of bank balances | (2,483) | (10,143) | ||||||||||
| Change in short-term borrowings | 17,695 | - | ||||||||||
| Repayments of long-term borrowings | (820) | (820) | ||||||||||
| Repurchase and retirement of common stock | - | (22,034) | ||||||||||
| Proceeds from policyholder deposits | 5,772 | 2,547 | ||||||||||
| Surrenders of policyholder deposits | (3,959) | (3,616) | ||||||||||
| Net cash provided by (used in) financing activities | 16,205 | (34,066) | ||||||||||
| Net decrease in cash and cash equivalents | (6,073) | (3,396) | ||||||||||
| Cash and cash equivalents, beginning of period | 40,376 | 46,095 | ||||||||||
| Cash and cash equivalents, end of period | $ | 34,303 | $ | 42,699 | ||||||||
