7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-12-31 2011-09-30 2011-06-30 2011-03-31 2010-12-31 2010-09-30 2010-06-30 2010-03-31 
      
    		                                                         
      cash flows from operating activities:
    		                                                         
      net cash from operating activities
    		62,421,000 106,223,000 186,769,000 -101,339,000 82,916,000 340,000 69,231,000 51,657,000 -50,257,000 101,358,000 -2,267,000 252,505,000 -27,081,000 -39,602,000 16,860,000 195,855,000 61,265,000 -144,197,000 -17,302,000 145,204,000 45,643,000 28,009,000 601,000 24,537,000 31,451,000 5,651,000 66,373,000 105,755,000 52,326,000 -41,185,000 145,230,000     -21,911,000 33,635,000 -10,558,000 35,708,000 68,339,000 29,857,000 -30,646,000 -5,579,000 42,773,000 150,411,000 -2,898,000 13,105,000 36,516,000 95,274,000 -65,845,000 -39,255,000 85,130,000 130,099,000 -141,101,446 34,887,107 40,925,825 56,052,966 
      capex
    		-1,157,000 -977,000 -1,227,000 -891,000 -3,298,000 -1,150,000 -1,007,000 -1,172,000 -690,000 -511,000 -595,000 -1,608,000 -2,185,000 -2,346,000 -1,856,000 -1,813,000 -1,211,000 -2,636,000 -4,367,000 -5,508,000 -4,705,000 -1,591,000 -1,693,000 -1,662,000 -6,368,000 -590,000 -2,117,000 -2,710,000 -1,314,000 -963,000 -898,000     -1,559,000 -2,896,000 0 0 -357,000 -751,000 -264,000 -238,000 -439,000 -409,000 0 -138,000 0 -1,542,000 0 -590,000 0 0 0 0 0 0 
      free cash flows
    		61,264,000 105,246,000 185,542,000 -102,230,000 79,618,000 -810,000 68,224,000 50,485,000 -50,947,000 100,847,000 -2,862,000 250,897,000 -29,266,000 -41,948,000 15,004,000 194,042,000 60,054,000 -146,833,000 -21,669,000 139,696,000 40,938,000 26,418,000 -1,092,000 22,875,000 25,083,000 5,061,000 64,256,000 103,045,000 51,012,000 -42,148,000 144,332,000     -23,470,000 30,739,000 -10,558,000 35,708,000 67,982,000 29,106,000 -30,910,000 -5,817,000 42,334,000 150,002,000 -2,898,000 12,967,000 36,516,000 93,732,000 -65,845,000 -39,845,000 85,130,000 130,099,000 -141,101,446 34,887,107 40,925,825 56,052,966 
      cash flows from investing activities:
    		                                                         
      proceeds from sale of property and equipment
    		11,000 3,000 9,000 11,000 50,000 8,000 10,000 15,000 9,000 32,000 64,000 0 1,000 130,000 4,000 12,000 16,000 41,000 119,000 11,000 11,000 11,000 9,000 10,000 8,000 5,000 13,000 5,000 12,000 6,000 2,000 5,000    31,000 4,000 54,000 0 13,000 17,000 3,000 0   10,000 0           
      purchases of property and equipment
    		-1,157,000 -977,000 -1,227,000 -891,000 -3,298,000 -1,150,000 -1,007,000 -1,172,000 -690,000 -511,000 -595,000 -1,608,000 -2,185,000 -2,346,000 -1,856,000 -1,813,000 -1,211,000 -2,636,000 -4,367,000 -5,508,000 -4,705,000 -1,591,000 -1,693,000 -1,662,000 -6,368,000 -590,000 -2,117,000 -2,710,000 -1,314,000 -963,000 -898,000 -2,182,000 -2,404,000 -1,909,000 -1,728,000 -1,559,000 -2,896,000          -138,000           
      purchases of equity securities
    		-10,528,000 -16,425,000 -2,006,000 -1,060,000 -977,000 -897,000 -7,738,000 -15,464,000 -9,356,000 -8,896,000 -12,460,000 -25,940,000 -29,333,000 -8,915,000 -32,340,000 -6,017,000 -8,175,000 -105,120,000 -1,000,000 0 -10,145,000 -260,000 -201,000 -193,000 -697,000 -2,235,000 -4,462,000 -9,249,000 -9,857,000 -42,232,000 -33,795,000 -20,274,000 -11,147,000 -15,089,000 -20,178,000  -10,146,000                     
      purchases of available-for-sale debt securities
    		-109,148,000 -135,043,000 -75,009,000 -34,817,000 -109,615,000 -42,864,000 -30,862,000 -46,462,000 -26,236,000 -21,223,000 -43,889,000 -77,736,000 -57,163,000 -95,476,000 -117,554,000 -58,525,000 -178,828,000 -339,203,000 -643,981,000 -29,663,000 -61,782,000 -27,419,000 -50,500,000 -88,626,000 -55,102,000  -143,879,000 -83,742,000 -121,996,000                             
      proceeds from sales of equity securities
    		9,066,000   1,278,000 2,910,000 2,265,000 5,597,000 34,444,000 2,789,000 7,511,000 8,975,000 2,760,000 14,932,000 31,452,000 48,486,000 3,589,000 1,576,000     543,000 0 11,976,000 17,161,000 0 4,158,000 3,082,000 1,045,000 2,613,000 18,056,000 13,739,000 3,053,000 30,556,000 13,210,000  0                     
      proceeds from sales of available-for-sale debt securities
    		41,309,000 20,866,000 4,610,000 18,000 3,700,000 15,237,000 290,000 394,000 3,301,000 4,584,000 5,321,000 6,994,000 12,540,000 20,450,000 15,538,000 33,523,000 27,455,000 250,624,000 729,344,000 18,489,000 9,979,000 4,749,000 29,836,000 28,655,000 14,550,000 1,790,000 13,579,000 19,758,000 99,464,000                             
      proceeds from sale of private equity limited partnership
    		0                                                         
      maturities of available-for-sale debt securities
    		61,758,000 57,703,000 32,075,000 17,359,000 32,849,000 31,406,000 34,644,000 15,478,000 27,554,000 9,679,000 25,608,000 20,917,000 12,766,000 19,446,000 16,782,000 28,135,000 25,178,000 24,439,000 44,329,000 38,680,000 32,534,000 45,172,000 31,779,000 31,890,000 36,635,000 28,159,000 18,708,000 39,117,000 25,363,000                             
      net cash from investing activities
    		-8,689,000 -58,964,000 -41,548,000 -20,866,000 -74,381,000 -789,000 934,000 -12,767,000 -2,629,000 -8,830,000 -16,976,000 -74,613,000 -48,442,000 -34,819,000 -62,091,000 -1,096,000 -131,398,000 -90,297,000 124,438,000 22,009,000 -34,108,000 21,205,000 9,230,000 -7,562,000 5,453,000 -61,711,000 -118,284,000 -23,974,000 -8,317,000 -90,825,000 -15,213,000 -27,422,000 -29,450,000 -49,989,000 -67,450,000 44,148,000 -37,976,000 -46,116,000 -52,842,000 25,792,000 -4,022,000 15,507,000 -27,067,000 -326,717,000 -14,406,000 -351,000 -138,000 -685,000 -1,524,000 -783,000 -590,000 -559,000 -399,000 -124,772 -275,994 451,219 -24,683,731 
      cash flows from financing activities:
    		                                                         
      preferred stock dividend
    		-3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -2,000 -3,000 -3,000 -2,000 -2,000 -3,000 -3,000 -2,000 -3,000 -2,000 -3,000 -5,000 -14,000 -5,000 -5,000 -5,000 -23,000 -5,000 -5,000 -254,000 -5,000 -5,000 -5,000 -5,000 -4,988 -4,987 -4,988 -4,987 
      common stock dividend
    		-4,457,000 -4,515,000 -4,841,000 -8,527,000 -4,639,000 -8,600,000 -4,794,000 -4,905,000 -4,980,000 -8,894,000 -4,906,000 -4,945,000 -5,029,000 -9,087,000 -5,003,000 -5,018,000 -5,083,000 -9,031,000 -5,111,000 -5,144,000 -5,261,000 -9,488,000 -5,465,000 -5,533,000 -5,620,000 -10,108,000 -5,579,000 -4,909,000 -4,912,000 -14,198,000 0 -14,364,000 -4,913,000 0 -4,915,000 -13,767,000 -4,283,000 -12,273,000 -3,503,000 -1,000 -3,463,000 -8,149,000 -3,496,000   -11,444,000 -3,213,000   -8,811,000 0   -3,916,726 -3,916,724   
      purchase of treasury stock inclusive of excise taxes paid
    		-8,074,000    -4,508,000                                                     
      payments related to tax withholding for share-based compensation
    		-2,349,000 -23,000 -1,267,000 -1,419,000  -25,000 0 0 -314,000 -209,000 0 0 -209,000 -272,000 0 -289,000 -495,000 -62,000 -183,000 -424,000 -646,000 -631,000 -263,000 -413,000 -2,402,000 -5,163,000 -968,000 -1,790,000 -4,793,000 -5,856,000 0 -546,000 -74,000 -934,000 -3,897,000 -1,946,000 -404,000 -5,251,000 -122,000 -4,174,000 -8,108,000 -433,000 -98,000 -1,558,000 -1,072,000 0 0           
      repayment of debt
    		-368,000 -368,000 -367,000 -368,000 -368,000 -367,000 -368,000 -368,000 -368,000 -368,000 -368,000 -368,000 -367,000 -368,000 -368,000 -367,000 -368,000 -367,000 -368,000 -368,000 -367,000 -368,000 -368,000 -367,000 -368,000 -368,000 -367,000 -368,000 -368,000 -367,000 -368,000 -368,000 -368,000 -332,000 -1,068,000 -367,000 -368,000   -6,367,000 -368,000 -368,000 -368,000    -368,000 -368,000 -367,000  -368,000       
      net cash from financing activities
    		-15,251,000 -12,335,000 -6,478,000 -18,032,000 -9,518,000 -12,630,000 -17,462,000 -11,363,000 -5,665,000 -11,325,000 -7,696,000 -8,848,000 -9,587,000 86,906,000 -6,738,000 -5,676,000 -6,194,000 -11,882,000 -15,550,000 -15,967,000 -12,864,000 -26,743,000 -31,807,000 -20,422,000 -18,271,000 -29,801,000 -6,888,000 -15,366,000 -12,822,000 -20,680,000 -9,336,000 -14,848,000 -6,590,000 -3,664,000 -13,267,000 -26,997,000 -7,215,000   -15,545,000 -20,339,000 -4,872,000 -10,925,000 -18,075,000 -521,000 -15,034,000 -3,617,000 -5,474,000 2,533,000 -18,585,000 11,944,000 -8,945,000 3,828,000 -6,160,345    
      cash and cash equivalents and restricted cash and cash equivalents:
    		                                                         
      net increase during the period
    		38,481,000 34,924,000 138,743,000 -140,237,000 -983,000 -13,079,000 52,703,000 27,527,000 -58,551,000 81,203,000 -26,939,000 169,044,000 -85,110,000 12,485,000 -51,969,000 189,083,000 -76,327,000 -246,376,000 91,586,000 151,246,000 -1,329,000 22,471,000 -21,976,000 -3,447,000 18,633,000 -85,861,000 -58,799,000 66,415,000 31,187,000                             
      balance, beginning of period
    		0 0 262,076,000 0 399,941,000 0 0 0 391,341,000 0 0 0 253,143,000 0 0 0 179,871,000 0 0 0 184,744,000 0 0 0 169,063,000 0 0 0 216,121,000                             
      balance, end of period
    		38,481,000 34,924,000 400,819,000 -140,237,000 398,958,000 -13,079,000 52,703,000 27,527,000 332,790,000 81,203,000 -26,939,000 169,044,000 168,033,000 12,485,000 -51,969,000 189,083,000 103,544,000 -246,376,000 91,586,000 151,246,000 183,415,000 22,471,000 -21,976,000 -3,447,000 187,696,000 -85,861,000 -58,799,000 66,415,000 247,308,000                             
      net income
    		                                   29,152,000 30,298,000 20,972,000 21,341,000 17,126,000 13,549,000 15,582,000 14,407,000 17,029,000 11,959,000 4,406,000 8,256,000 7,777,000 9,873,000 -2,313,000 975,000 7,549,000 13,898,000 4,828,100 14,444,684 9,404,009 8,306,969 
      adjustments to reconcile net income to net cash from operating activities:
    		                                                         
      bad debt expense
    		                                   114,000 300,000 169,000 96,000 95,000 71,000 65,000 109,000 130,000 124,000 95,000 121,000   31,000 228,000 230,000 164,000 -351,119 1,036,103 428,293 201,523 
      depreciation and amortization
    		                                   782,000 448,000                     
      amortization of share-based compensation
    		                                   4,820,000 4,973,000 3,576,000 3,556,000 3,525,000 1,685,000                 
      amortization of debt issuance costs
    		                                                         
      benefit from (or reversal of) credit losses on available-for-sale debt securities
    		                                                         
      book overdraft increase
    		                                   -3,728,000 1,003,000 63,000 1,549,000 1,327,000 -11,962,000                 
      net realized (gains) losses on sale of investments
    		                                                         
      net change in unrealized (gains) losses on investments
    		                                         62,000 -15,000               
      amortization of premium/accretion of discount
    		                                   491,000 443,000 576,000 533,000 508,000 499,000 519,000 776,000 245,000 42,000             
      deferred income taxes
    		                                   -346,000 -1,875,000 289,000 435,000 -115,000 509,000 1,635,000 1,564,000 308,000 3,856,000 -2,993,000 5,095,000 -3,871,000 5,582,000 1,129,000 -7,063,000 -4,051,000 442,000 -3,111,642 1,769,454 -1,871,037 1,879,864 
      excess tax (benefit) shortfall from share-based compensation
    		                                                         
      gain on disposal of assets
    		                                          0               
      net change in assets and liabilities relating to operating activities:
    		                                                         
      prepaid reinsurance premiums
    		                                   -1,433,000 -2,501,000 4,817,000 -1,511,000 42,215,000 5,188,000 9,292,000 5,435,000 -3,462,000 -12,558,000 8,978,000 -1,064,000 28,530,000 -33,270,000 8,247,000 2,240,000 -25,187,000 -7,309,000 7,277,467 4,723,213 -12,064,021 -20,728,351 
      reinsurance recoverable
    		                                   13,282,000 2,022,000 1,054,000 21,325,000                   
      income taxes payable
    		                                   -359,000 -808,000 2,340,000 -284,000 -508,000 4,691,000 1,423,000 1,305,000 348,000 -850,000 681,000 -3,002,000 851,000 -12,331,000 -3,443,000 2,898,000 2,586,000 2,612,000 4,817,770 -322,037 3,306,734 110,595 
      premiums receivable
    		                                   5,530,000 2,465,000 3,533,000 263,000 -6,992,000 -1,715,000 5,890,000 4,338,000 -6,142,000 -830,000 5,825,000 214,000 -10,931,000 303,000 4,723,000 1,212,000 -8,833,000 43,000 5,244,771 -200,956 -11,070,214 -1,547,897 
      accrued investment income
    		                                   76,000 -210,000 -72,000 -128,000 2,000 -32,000 178,000 -169,000 -749,000 20,000 51,000 75,000 159,000 40,000  -401,000       
      income taxes recoverable
    		                                   5,544,000 1,985,000 -2,761,000 -90,000 3,375,000 1,953,000 6,346,000 -5,420,000 -7,100,000 616,000 -2,188,000 218,000 446,000 -1,070,000     0 -2 -49,221 3,261,097 
      deferred policy acquisition costs
    		                                   2,984,000 -822,000 2,172,000 245,000 -12,184,000 6,000 1,054,000 288,000 136,000 -95,000 737,000 -275,000 -5,946,000 1,198,000 17,000 -987,000 -1,886,000 -694,000 3,407,170 1,189,041 -1,605,498 -2,971,768 
      other assets
    		                                   338,000 19,000 28,000 -598,000 -520,000 350,000 994,000 -604,000 -922,000 73,000 -31,000 345,000 72,000 -55,000 702,000 508,000 -702,000 -1,234,000 -628,579 274,864 -544,583 119,315 
      unpaid losses and loss adjustment expenses
    		                                   -2,219,000 -11,058,000 -2,562,000 -7,710,000 -5,932,000 -8,665,000 1,848,000 -8,886,000 -16,269,000 -10,712,000 20,567,000 8,049,000 -7,675,000 -14,915,000 24,261,000 7,579,000 -2,875,000 -679,000 22,070,987 7,954,089 -2,832,909 4,538,917 
      unearned premiums
    		                                   -21,285,000 7,769,000 -16,127,000 -834,000 27,948,000 1,273,000 -23,955,000 -13,244,000 22,645,000 9,971,000 -20,643,000 1,762,000 35,911,000 11,199,000 -15,937,000 -4,489,000 43,346,000 8,588,000 -17,969,898 -9,431,253 57,418,688 19,946,466 
      commission payable
    		                                                         
      reinsurance payable
    		                                   -51,842,000 -6,311,000 -36,185,000 -17,844,000 26,441,000 7,422,000 -32,341,000 -16,126,000 29,819,000 19,621,000 -38,674,000 -149,853,000 159,310,000 26,980,000 -41,307,000 -1,307,000 19,025,000 35,533,000 -29,985,847 -18,882,727 -2,393,421 16,103,884 
      other liabilities and accrued expenses
    		                                   -872,000 9,729,000 2,260,000 7,259,000 -966,000 -5,779,000 679,000 6,460,000 923,000 -3,259,000 18,000 4,344,000           
      advance premium
    		                                   -1,216,000 -3,274,000 -3,383,000 -1,369,000 -2,742,000 2,454,000 -733,000 -1,979,000 -1,538,000 12,187,000 -3,446,000 -7,138,000 -5,495,000 11,711,000 -2,249,000 -4,191,000 -4,228,000 10,218,000 -1,117,777 898,564 -3,298,375 6,278,770 
      purchases of other investments
    		                                                         
      purchases of investment real estate
    		             0    -1,000    0 0 -149,000 -734,000 -822,000 -4,284,000 -235,000 -1,034,000 -2,195,000 -1,264,000 -1,096,000 -2,326,000 -53,000 -2,021,000 -332,000 -6,000                     
      debt issuance costs paid
    		         -9,000 0 -31,000 -100,000                                             
      purchase of treasury stock, inclusive of excise taxes paid
    		                                                         
      cash and cash equivalents, and restricted cash and cash equivalents:
    		                                                         
      supplemental cash and non-cash flow disclosures:
    		                                                         
      interest paid
    		                               59,000 59,000 107,000 196,000 196,000 200,000   395,000 433,000  423,000               
      income taxes paid
    		                               5,110,000 22,487,000   13,829,000 18,275,000   10,531,000 2,404,000 70,000 28,731,000               
      income tax refund
    		                               -61,000 0                         
      proceeds from sales of investment real estate
    		             0 0 0 2,591,000     0 0                                   
      proceeds from sale of assets held for sale
    		             440,000                                            
      proceeds from issuance of long-term debt
    		                                                         
      purchase of treasury stock
    		     -3,636,000 -12,297,000   -1,843,000 -2,419,000 -3,502,000 -3,879,000 0 -1,364,000 0 -245,000 -2,420,000 -9,885,000 -10,029,000 -6,587,000 -16,254,000 -25,708,000 -14,107,000 -10,117,000 -14,160,000 0 -8,370,000 -2,746,000 -257,000 -8,965,000 -95,000 -1,488,000 -5,053,000 -1,874,000 -10,984,000 -2,589,000 0 -9,999,000 -5,000,000 -14,737,000 -1,000 -4,288,000               
      net change in unrealized gains of equity securities
    		                                                         
      other
    		                                   18,000 0 -6,000 30,000 7,000 -12,000         4,000 0 -859,000 838,000 -605,857 -5,900 0 -15,035 
      issuance of common stock
    		                                   0 7,000         0 116,000 0 91,000     7,000 0 0 7,000 
      proceeds from the issuance of common stock for stock option exercises
    		                                                         
      reversal of benefit from credit losses on available-for-sale debt securities
    		                                                         
      net realized (gains) losses sale on investments
    		                                                         
      maturities of short-term investments
    		                             0 0 0 0    24,991,000                     
      issuance of common stock for stock option exercises
    		                     0 0 0 239,000 0 29,000                               
      amortization of original issue discount on debt
    		                                   94,000 92,000 181,000 179,000 230,000 250,000                 
      reinsurance receivable
    		                                   -187,000 550,000 5,067,000 13,817,000        95,136,000 -109,870,000 39,411,000         
      accounts payable
    		                                   -1,204,000 -399,000 -336,000 -352,000 310,000 1,058,000 -422,000 -1,147,000 694,000 -52,000 116,000 -1,090,000 278,000 750,000 28,000 -1,406,000 421,000 1,504,000 271,198 -1,326,619 848,643 801,445 
      purchases of short-term investments
    		                                    4,000                     
      maturities of available-for-sale short-term investments
    		                          0                               
      accretion of deferred credit
    		                                   -94,000 -92,000 -181,000 -179,000 -230,000 -250,000 -252,000 -248,000               
      net realized (gains) losses sale of securities
    		                                                         
      purchases of available -for-sale debt securities
    		                                                         
      sale of treasury stock
    		                               0 0                         
      excess tax benefit (shortfall) from share-based compensation
    		                                                         
      net realized (gains) losses on investments
    		                                   -768,000 -11,000 -274,000 -501,000 -3,950,000 -902,000 -1,242,000 -56,000   -353,000 3,142,000           
      excess tax (benefits) shortfall from share-based compensation
    		                                   -69,000 -424,000 -541,000 -123,000 0 -6,342,000                 
      payments to acquire a business
    		                                   0 0                     
      purchases of fixed maturities
    		                             -66,011,000 -47,076,000 -41,170,000 -37,348,000 -145,724,000 -95,889,000  -71,798,000                   -78,713,575 -50,426,894 
      proceeds from sales of fixed maturities
    		                             6,536,000 13,136,000 7,052,000 5,059,000 57,755,000 16,152,000  12,014,000                   90,915,664 25,322,048 
      proceeds from sales of short-term investments
    		                                  12,500,000  0                     
      maturities of fixed maturities
    		                             21,421,000 36,626,000 16,504,000 15,632,000 11,975,000 10,504,000  9,857,000                     
      purchase of preferred stock
    		                                   1,000 0                     
      excess tax benefits (shortfall) from share-based compensation
    		                               409,000 255,000 -308,000 -1,510,000 69,000 424,000 541,000 123,000 0 6,342,000                 
      borrowings under promissory note
    		                                    0                     
      net increase in cash and cash equivalents
    		                             -152,690,000 120,681,000 -99,511,000 -10,042,000 55,249,000 -36,980,000 -4,760,000 -11,556,000   78,586,000 5,496,000 -20,011,000 -43,571,000 -302,019,000 135,484,000 -18,283,000 9,350,000 30,357,000 96,283,000 -85,213,000 -27,901,000 75,626,000 133,528,000 -147,386,563 32,527,259 33,903,454 35,617,023 
      cash and cash equivalents at beginning of period
    		                             0 0 0 0 0 197,014,000 0 0   0 117,275,000 0 0 0 347,392,000 0 0 0 229,685,000 -13,940,000 0 0 147,585,000 0 0 0 192,924,291 
      cash and cash equivalents at end of period
    		                             -152,690,000 120,681,000 -99,511,000 -10,042,000 55,249,000 160,034,000 -4,760,000 -11,556,000   78,586,000 122,771,000 -20,011,000 -43,571,000 -302,019,000 482,876,000 -18,283,000 9,350,000 30,357,000 325,968,000 -99,153,000 -27,901,000 75,626,000 281,113,000 -147,386,563 32,527,259 33,903,454 228,541,314 
      restricted cash and cash equivalents
    		                                     3,962,000 -3,962,000 0 -35,000 0 53,000 0 30,356,000 62,127,000 -20,861,000 -26,096,000 30,134,000         
      other receivables
    		                                   486,000 -676,000 462,000 271,000 -85,000 -636,000 666,000 896,000 -1,158,000 -273,000 1,126,000 357,000 -1,586,000 463,000 758,000 1,053,000 -1,454,000 -228,000 774,984 -483,125 1,654,063 864,550 
      proceeds received from issuance of contingently redeemable common stock
    		                                                         
      cash flows from operating activities
    		                                25,998,000 108,902,000 43,737,000                       
      purchase of trading securities
    		                                         0 0 0 -26,009,000             
      proceeds from sales of trading securities
    		                                         0 0 21,991,000 80,670,000             
      purchases of equity securities, available for sale
    		                                         -7,508,000 -18,515,000             -44,850,634 -35,879,591 
      purchases of fixed maturities, available for sale
    		                                         839,000 -13,180,000 -283,001,000 -9,988,000             
      purchases of short-term investments, available for sale
    		                                                         
      proceeds from sales of equity securities, available for sale
    		                                         15,152,000 376,000             34,233,754 36,447,190 
      proceeds from sales of fixed maturities, available for sale
    		                                                         
      proceeds from sales of short-term investments, available for sale
    		                                                         
      maturities of fixed maturities, available for sale
    		                                                         
      maturities of short-term investments, available for sale
    		                                                         
      proceeds from borrowings
    		                                         0 0               
      non-cash transfer of investments from trading to available for sale portfolio
    		                                         0 0               
      net foreign currency (gains) losses on investments
    		                                             0 0           
      purchase of property and equipment
    		                                       -357,000 -751,000 -264,000 -238,000 -439,000 -409,000             
      proceeds received from issuance of common and contingently redeemable common stock
    		                                                         
      depreciation
    		                                      294,000 271,000 280,000 267,000 248,000 248,000 249,000 215,000 215,000 211,000 199,000 260,000 80,000 117,000 182,000 99,342 433,792 151,213 146,812 
      purchases of available for sale equity securities
    		                                       -8,469,000 -4,782,000                 
      purchases of available for sale fixed maturities
    		                                       -28,755,000 -20,475,000                 
      proceeds from sales of available for sale equity securities
    		                                       58,346,000 10,071,000                 
      proceeds from sales of available for sale fixed maturities
    		                                       1,000 4,370,000                 
      maturities of available for sale fixed maturities
    		                                       5,013,000 7,528,000                 
      supplemental cash flow and non-cash disclosures:
    		                                                         
      reinsurance recoverables
    		                                        31,750,000 -32,947,000 4,251,000 8,080,000 1,960,000 -8,391,000 34,659,000 -38,410,000 8,657,000 -8,161,000 -342,000 1,923,000 426,000 -12,215,642 -4,100,723 1,800,204 26,780,719 
      reinsurance receivables
    		                                        -6,801,000 24,065,000 274,000 -20,062,000 19,854,000             
      amortization of stock-based compensation
    		                                         1,778,000 1,711,000 1,760,000 1,168,000 1,271,000 867,000 680,000 1,012,000         
      excess tax (benefits) shortfall from stock-based compensation
    		                                         -307,000 -48,000 -155,000 151,000 -5,000 1,694,000 -71,000 142,000         
      maturities of fixed maturity securities, available for sale
    		                                         7,285,000 5,021,000               
      excess tax benefits (shortfall) from stock-based compensation
    		                                         308,000 47,000 155,000 -151,000 5,000 -1,694,000 71,000 -142,000         
      interest
    		                                            87,000 87,000 86,000 136,000 105,000 112,000 180,000       
      amortization of original issue discount
    		                                          248,000               
      bank overdraft increase
    		                                          -2,717,000 -2,143,000 1,075,000             
      net realized
    		                                            16,037,000             
      net change in unrealized
    		                                            -7,874,000             
      transfer of investments to available for sale portfolio
    		                                            4,009,000             
      transfer of investments from trading securities portfolio
    		                                            -4,009,000             
      repayments of debt
    		                                            -368,000             
      supplemental cash flow disclosures:
    		                                                         
      income taxes
    		                                            4,313,000 5,698,000 500,000 7,783,000 14,170,000 5,568,000 430,000 7,033,000 6,050,000     
      purchases of fixed maturities, available-for-sale
    		                                                     0    
      proceeds from sales of fixed maturities, available-for-sale
    		                                                     0    
      net unrealized (gains) losses on investments
    		                                              -8,091,000 5,788,000 -9,187,000         
      amortization of premium / accretion of discount
    		                                              -26,000 18,000 3,000  15,000 13,000 157,000 140,015 133,812 164,010 107,000 
      proceeds from sale of trading securities
    		                                              93,642,000 97,615,000 119,686,000  207,543,000       
      purchases of trading securities
    		                                              -53,686,000 -93,271,000 -107,313,000  -245,016,000       
      bank overdraft
    		                                              1,547,000 -1,039,000 3,205,000  12,317,000 -4,266,000 3,833,000 -1,748,415 2,205,502 -2,887,074 5,163,241 
      supplemental cash flow disclosures
    		                                                         
      bad debt (recovery) expense
    		                                                -80,000         
      net realized losses (gains) on investments
    		                                                7,449,000         
      net foreign currency (gains) on investments
    		                                                -23,000         
      other accrued expenses
    		                                                -1,274,000 2,458,000 2,300,000 -3,447,000 319,000 477,815 3,816,453 -613,582 -1,281,469 
      proceeds from sale of property, plant and equipment
    		                                                18,000  0       
      purchases of property, plant and equipment
    		                                                -1,542,000  -590,000       
      supplemental cash flow disclosure
    		                                                         
      dividends accrued
    		                                                4,012,000       -783,202 4,699,926 
      net realized gains on investments
    		                                                 10,146,000 -5,884,000 -2,960,000 -3,652,000     
      net unrealized losses (gains) on investments
    		                                                 -4,627,000        
      net foreign currency gains on investments
    		                                                   0 -71,000     
      excess tax benefits from stock-based compensation
    		                                                     438,945 2   
      tax withholding payments related to stock-based compensation
    		                                                         
      supplemental cashflow disclosures:
    		                                                         
      amortization of cost of stock options
    		                                                  501,000 202,000 254,000 342,356 313,343 975,225 477,781 
      amortization of non-vested shares
    		                                                  468,000       
      net foreign currency losses (gains) on investments
    		                                                         
      purchase of treasury shares
    		                                                         
      net unrealized losses on investments
    		                                                         
      other-than-temporary impairment of investments
    		                                                         
      amortization of restricted stock grants
    		                                                    144,000 162,320 234,267 231,723 224,382 
      net unrealized gains on investments
    		                                                    -2,588,000     
      proceeds from sales of debt securities, trading
    		                                                    73,240,000     
      purchases of equity securities, trading
    		                                                    -48,350,000     
      proceeds from sales of equity securities, trading
    		                                                    46,342,000     
      capital expenditures and building improvements
    		                                                    -399,000  -387,449 -38,222 -146,484 
      treasury shares on option exercise
    		                                                     -568,513 0 0 -3,723,972 
      tax benefit on exercise of stock options
    		                                                        -3,174,153 
      repayments of loans payable
    		                                                     -367,648 -367,647 -367,647 -367,647 
      foreign currency gains on investments
    		                                                     -308,529 7,846 -158,642 -683,733 
      deferred ceding commission
    		                                                         
      purchase of fixed maturities, trading
    		                                                         
      proceeds from sales of fixed maturities, trading
    		                                                     70,663,953    
      purchase of equity securities, trading
    		                                                         
      proceeds from sale of equity securities, trading
    		                                                     83,353,876    
      proceeds from sale of property
    		                                                     0 17,500   
      purchase of property, plant and equipment
    		                                                         
      purchases of fixed maturities, held-to-maturity
    		                                                         
      repurchase of treasury stock
    		                                                         
      realized gains on investments
    		                                                      -3,841,335 -4,457,307 -3,694,717 
      unrealized gains on investments
    		                                                         
      purchases of fixed maturities, trading
    		                                                         
      purchase of real estate
    		                                                      0   
      purchases of equity securities, available-for-sale
    		                                                         
      proceeds from sales of equity securities, available-for-sale
    		                                                         
      non cash items:
    		                                                         
      building improvements
    		                                                         
      net cash from in financing activities
    		                                                       -7,473,590 4,247,788 
      allowance for doubtful accounts
    		                                                         
      non cash items
    		                                                         
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.