XML 20 R8.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 120.0 $ 66.6
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization and depreciation 13.8 13.8
Share-based payments expense 8.8 11.0
Deferred income tax benefit, net 3.2 (6.9)
Net realized investment (gains) loss (64.5) 5.2
Undistributed earnings from alternative investment portfolio (11.4) (13.9)
Loss on disposals of fixed assets, net 0.1 0.0
Change in:    
Accrued investment income 0.5 (1.2)
Receivables (161.9) (53.3)
Deferred acquisition costs 3.5 (1.5)
Ceded unearned premiums (136.2) (87.4)
Reserves for losses and loss adjustment expenses 83.2 (71.1)
Unearned premiums 103.0 67.0
Ceded reinsurance payable and funds held 80.3 80.2
Income taxes 4.4 14.9
Accrued underwriting expenses and other liabilities 12.8 156.6
Other, net (64.5) (54.1)
Cash (used in) provided by operating activities (4.9) 125.9
Cash flows from investing activities:    
Sales of fixed maturity investments 751.6 882.0
Maturities and mandatory calls of fixed maturity investments 168.8 288.7
Sales of equity securities 32.2 104.9
Sales of other investments 31.1 38.1
Purchases of fixed maturity investments (888.5) (1,237.5)
Purchases of equity securities (32.4) (113.3)
Purchases of other investments (38.2) (23.3)
Change in foreign regulatory deposits and voluntary pools 6.3 13.1
Change in short-term investments 67.7 (80.7)
Settlements of foreign currency exchange forward contracts 9.9 2.3
Cash acquired with acquisition of Ariscom   15.6
Purchases of fixed assets (15.7) (11.0)
Other, net (22.5) (16.7)
Cash provided by (used in) investing activities 70.3 (137.8)
Cash flows from financing activities:    
Activity under stock incentive plans 0.9 0.2
Repurchase of Company's common shares 0.0 (19.4)
Payment of cash dividends to common shareholders (22.7) (18.7)
Cash used in financing activities (21.8) (37.9)
Effect of exchange rate changes on cash (0.5) (0.1)
Change in cash 43.1 (49.9)
Cash, beginning of year 139.2 176.6
Cash, end of period 182.3 126.7
Ariscom [Member]    
Cash flows from investing activities:    
Cash acquired with acquisition of Ariscom $ 0.0 $ 15.6