XML 18 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 82.7 $ 58.6
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization and depreciation 15.9 17.8
Share-based payments expense 7.6 5.6
Deferred income tax (benefit) provision, net (4.7) 6.1
Net realized investment and other (gains) losses (19.1) 4.9
Undistributed earnings from alternative investment portfolio (32.9) (10.9)
Loss on disposals of fixed assets, net 1.7 0.1
Change in:    
Accrued investment income (2.1) 0.9
Receivables (103.9) (185.3)
Deferred acquisition costs (13.8) (11.8)
Ceded unearned premiums (41.0) (60.3)
Reserves for losses and loss adjustment expenses 85.4 51.0
Unearned premiums 53.3 66.5
Ceded reinsurance payable and funds held 57.0 138.5
Income taxes 5.9 9.1
Accrued underwriting expenses (21.7) (23.6)
Other, net (33.0) (35.6)
Cash provided by operating activities 37.3 31.6
Cash flows from investing activities:    
Sales of fixed maturity investments 785.8 532.0
Maturities and mandatory calls of fixed maturity investments 335.1 673.3
Sales of equity securities 107.5 93.0
Sales of other investments 65.1 5.5
Purchases of fixed maturity investments (1,381.7) (1,119.0)
Purchases of equity securities (67.5) (59.6)
Purchases of other investments (16.8) (77.1)
Change in foreign regulatory deposits and voluntary pools (9.5) 2.7
Change in short-term investments 309.9 (13.7)
Settlements of foreign currency exchange forward contracts 0.5 6.8
Acquisition of subsidiaries, net of cash acquired (105.2) 0.0
Purchases of fixed assets (10.0) (22.7)
Other, net (27.7) (0.9)
Cash (used in) provided by investing activities (14.5) 20.3
Cash flows from financing activities:    
Additional long-term borrowings 125.0 0.0
Activity under stock incentive plans 0.5 0.2
Repurchase of Company's common shares (2.8) (40.0)
Payment of cash dividends to common shareholders (16.6) (13.1)
Cash provided by (used in) financing activities 106.1 (52.9)
Effect of exchange rate changes on cash (0.4) (0.1)
Change in cash 128.5 (1.1)
Cash, beginning of year 86.0 [1] 121.7
Cash, end of period $ 214.5 $ 120.6
[1] Derived from audited consolidated financial statements.