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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 450,549 $ 791,817
Adjustments to reconcile net income to net cash provided by operating activities:    
Decrease (increase) in premiums receivable (357,162) (219,637)
Decrease (increase) in funds held by reinsureds, net (53,878) (17,961)
Decrease (increase) in reinsurance receivables (172,454) (42,891)
Decrease (increase) in income taxes 184,311 168,360
Decrease (increase) in prepaid reinsurance premiums (7,963) (145,846)
Increase (decrease) in reserve for losses and loss adjustment expenses 1,665,982 553,668
Increase (decrease) in future policy benefit reserve (2,218) (2,502)
Increase (decrease) in unearned premiums 392,904 388,597
Increase (decrease) in other net payable to reinsurers 68,784 160,306
Increase (decrease) in losses in course of payment 132,208 (6,438)
Change in equity adjustments in limited partnerships (12,475) (104,987)
Distribution of limited partnership income 55,576 62,359
Change in other assets and liabilities, net (131,224) (37,449)
Non-cash compensation expense 29,337 25,386
Amortization of bond premium (accrual of bond discount) 32,594 23,642
Net realized capital (gains) losses (84,263) (109,561)
Net cash provided by (used in) operating activities 2,190,608 1,486,863
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from fixed maturities matured/called - available for sale, at market value 1,781,821 1,631,298
Proceeds from fixed maturities sold - available for sale, at market value 1,390,747 2,589,232
Proceeds from fixed maturities sold - available for sale, at fair value 2,054 2,706
Proceeds from equity securities sold, at fair value 329,750 185,157
Distributions from other invested assets 210,527 215,800
Cost of fixed maturities acquired - available for sale, at market value (3,874,890) (5,039,728)
Cost of equity securities acquired, at fair value (460,953) (269,969)
Cost of other invested assets acquired (392,650) (299,480)
Net change in short-term investments (804,744) (213,048)
Net change in unsettled securities transactions 89,064 (13,770)
Net cash provided by (used in) investing activities (1,729,274) (1,211,802)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Common shares issued during the period for share-based compensation, net of expense (13,617) (7,836)
Purchase of treasury shares (200,020) (24,604)
Dividends paid to shareholders (187,110) (171,131)
Cost of debt repurchase (10,647)
FHLB advances (repayments) 90,000
Cost of shares withheld on settlements of share-based compensation awards (15,298) (12,473)
Net cash provided by (used in) financing activities (336,691) (216,044)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 6,203 2,060
Net increase (decrease) in cash 130,845 61,077
Cash, beginning of period 808,036 656,095
Cash, end of period 938,881 717,172
SUPPLEMENTAL CASH FLOW INFORMATION:    
Income taxes paid (recovered) (169,149) (80,544)
Interest paid $ 16,731 $ 19,078