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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 513,368 $ 641,631 $ 804,564
Adjustments to reconcile net income to net cash provided by operating activities:      
Net realized investment (gains) losses 60,525 138,491 (132,108)
Net realized and unrealized gains on other investments (38,669) (20,148) (57,621)
Amortization of fixed maturities 65,921 97,223 113,879
Interest in loss of equity method investments 2,094 0 0
Other amortization and depreciation 24,573 26,341 24,970
Share-based compensation expense, net of cash payments 52,211 43,052 63,237
Changes in:      
Accrued interest receivable (885) 8,908 13,788
Reinsurance recoverable balances (176,532) (214,992) (16,204)
Deferred acquisition costs 33,212 (4,744) (11,026)
Prepaid reinsurance premiums (158,809) (46,955) (25,185)
Reserve for loss and loss expenses 54,476 151,011 46,903
Unearned premiums 198,938 29,841 58,376
Insurance and reinsurance balances, net (209,895) (74,578) (102,593)
Other items (13,804) 16,119 81,202
Net cash provided by operating activities 406,724 791,200 862,182
Purchases of:      
Fixed maturities (9,176,728) (11,011,979) (12,047,004)
Equity securities (302,554) (356,617) (564,562)
Mortgage loans (148,450) (206,191) 0
Other investments (190,370) (83,561) (75,542)
Equity method investments (107,913) 0 0
Short-term investments (190,747) (80,069) (669,494)
Proceeds from the sale of:      
Fixed maturities 7,905,316 9,432,226 10,799,112
Equity securities 305,642 275,357 740,900
Other investments 215,578 252,418 213,508
Short-term investments 54,165 125,311 526,460
Proceeds from redemption of fixed maturities 1,492,588 1,407,806 1,086,244
Proceeds from redemption of short-term investments 36,546 23,687 80,474
Proceeds from the repayment of mortgage loans 5,040 0 0
Purchase of other assets (27,149) (33,683) (20,857)
Change in restricted cash and cash equivalents (15,395) 29,598 (223,315)
Net cash used in investing activities (144,431) (225,697) (154,076)
Cash flows from financing activities:      
Net proceeds from issuance of preferred shares 531,945 0 0
Repurchase of common shares (509,755) (332,252) (543,202)
Dividends paid - common shares (132,323) (118,652) (117,619)
Repurchase of preferred shares (51,769) 0 0
Dividends paid - preferred shares (39,909) (40,088) (40,088)
Proceeds from issuance of common shares 224 3,986 5,550
Net proceeds from issuance of senior notes 0 0 494,344
Redemption of senior notes 0 0 (500,000)
Sales of shares to noncontrolling interests 0 0 25,000
Return of capital to noncontrolling interests 0 0 (10,000)
Net cash used in financing activities (201,587) (487,006) (686,015)
Effect of exchange rate changes on foreign currency cash and cash equivalents (9,345) (12,194) (23,587)
Increase (decrease) in cash and cash equivalents 51,361 66,303 (1,496)
Cash and cash equivalents - beginning of year 988,133 921,830 923,326
Cash and cash equivalents - end of year 1,039,494 988,133 921,830
Supplemental disclosures of cash flow information:      
Income taxes paid 12,041 12,661 7,654
Interest paid 48,875 $ 48,875 $ 68,850
Consideration transferred reinsurance 170,000    
Transfer from Investments $ 92,000