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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net (loss) income $ (54.8) $ 94.9
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Amortization and depreciation 24.7 20.4
Share-based payments expense 7.7 11.7
Deferred income tax benefit, net (23.2) (2.2)
Net realized investment losses (gains) 21.7 (58.3)
Undistributed earnings (loss) from alternative investment portfolio 1.6 (19.4)
Loss on disposals of long-lived assets, net 0.4 0.0
Change in:    
Accrued investment income 3.5 (0.5)
Receivables (65.1) (282.6)
Deferred acquisition costs (11.7) 7.5
Ceded unearned premiums (120.5) (147.1)
Reserves for losses and loss adjustment expenses 267.6 194.9
Unearned premiums 176.8 197.7
Ceded reinsurance payable and funds held (102.2) 204.8
Income taxes (12.8) 7.9
Accrued underwriting expenses and other liabilities (7.4) 8.5
Other, net (4.9) (42.5)
Cash provided by operating activities 101.4 195.7
Cash flows from investing activities:    
Sales of fixed maturity investments 977.5 1,046.3
Maturities and mandatory calls of fixed maturity investments 410.3 292.2
Sales of equity securities 18.2 66.3
Sales of other investments 95.5 67.7
Purchases of fixed maturity investments (1,659.3) (1,535.0)
Purchases of equity securities (68.3) (49.9)
Purchases of other investments (24.5) (54.6)
Change in foreign regulatory deposits and voluntary pools (0.5) 2.3
Change in short-term investments 297.8 0.0
Settlements of foreign currency exchange forward contracts 9.1 (1.2)
Proceeds from sale of Trident assets 38.0 0.0
Purchases of fixed assets (15.8) (22.9)
Other, net 2.7 29.6
Cash provided by (used in) investing activities 80.7 (159.2)
Cash flows from financing activities:    
Payment of long-term debt (125.0) (0.6)
Issuance of preferred shares, net of issuance costs 144.0 0.0
Activity under stock incentive plans 1.4 1.4
Payment of cash dividends to preferred shareholders (2.0) 0.0
Payment of cash dividends to common shareholders (32.2) (32.5)
Cash used in financing activities (13.8) (31.7)
Effect of exchange rate changes on cash (5.7) 1.1
Change in cash 162.6 5.9
Cash, beginning of year 137.8 139.2
Cash, end of period $ 300.4 $ 145.1