XML 20 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 66.6 $ 82.7
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization and depreciation 13.8 15.9
Share-based payments expense 11.0 7.6
Deferred income tax benefit, net (6.9) (4.7)
Net realized investment losses (gains) 5.2 (19.1)
Undistributed earnings from alternative investment portfolio (13.9) (32.9)
Loss on disposals of fixed assets, net 0.0 1.7
Change in:    
Accrued investment income (1.2) (2.1)
Receivables (53.3) (103.9)
Deferred acquisition costs (1.5) (13.8)
Ceded unearned premiums (87.4) (41.0)
Reserves for losses and loss adjustment expenses (71.1) 85.4
Unearned premiums 67.0 53.3
Ceded reinsurance payable and funds held 80.2 57.0
Income taxes 14.9 5.9
Accrued underwriting expenses (29.4) (21.7)
Other, net 131.9 (33.0)
Cash provided by (used in) operating activities 125.9 37.3
Cash flows from investing activities:    
Sales of fixed maturity investments 882.0 785.8
Maturities and mandatory calls of fixed maturity investments 288.7 335.1
Sales of equity securities 104.9 107.5
Sales of other investments 38.1 65.1
Purchases of fixed maturity investments (1,237.5) (1,381.7)
Purchases of equity securities (113.3) (67.5)
Purchases of other investments (23.3) (16.8)
Change in foreign regulatory deposits and voluntary pools 13.1 (9.5)
Change in short-term investments (80.7) 309.9
Settlements of foreign currency exchange forward contracts 2.3 0.5
Acquisition of Maybrooke, net of cash acquired   (105.2)
Cash acquired with acquisition of Ariscom 15.6  
Purchases of fixed assets (11.0) (10.0)
Other, net (16.7) (27.7)
Cash used in investing activities (137.8) (14.5)
Cash flows from financing activities:    
Additional long-term borrowings 0.0 125.0
Activity under stock incentive plans 0.2 0.5
Repurchase of Company's common shares (19.4) (2.8)
Payment of cash dividends to common shareholders (18.7) (16.6)
Cash (used in) provided by financing activities (37.9) 106.1
Effect of exchange rate changes on cash (0.1) (0.4)
Change in cash (49.9) 128.5
Cash, beginning of year 176.6 [1] 86.0
Cash, end of period 126.7 214.5
Maybrooke [Member]    
Cash flows from investing activities:    
Acquisition of Maybrooke, net of cash acquired 0.0 (105.2)
Ariscom [Member]    
Cash flows from investing activities:    
Cash acquired with acquisition of Ariscom $ 15.6 $ 0.0
[1] Derived from audited consolidated financial statements.