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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 19,855,000 $ 48,386,000
Adjustments to reconcile net income to net cash used in operating activities:    
Net realized investment losses 25,050,000 66,508,000
Net realized and unrealized gains (losses) on other investments (18,211,000) 27,177,000
Amortization of fixed maturities 12,498,000 19,100,000
Interest in loss of equity method investments 5,766,000 0
Other amortization and depreciation 6,467,000 5,294,000
Share-based compensation expense, net of cash payments (24,758,000) (1,357,000)
Non-cash foreign exchange losses 24,149,000 0
Changes in:    
Accrued interest receivable 5,596,000 2,616,000
Reinsurance recoverable balances 348,942,000 (6,668,000)
Deferred acquisition costs (171,493,000) (175,038,000)
Prepaid reinsurance premiums (86,534,000) (37,732,000)
Reserve for loss and loss expenses (237,773,000) 50,132,000
Unearned premiums 654,475,000 820,947,000
Insurance and reinsurance balances, net (559,456,000) (737,185,000)
Other items (40,834,000) (96,430,000)
Net cash used in operating activities (36,261,000) (14,250,000)
Cash flows from investing activities:    
Fixed maturities (2,670,518,000) (2,556,709,000)
Equity securities (98,559,000) (102,963,000)
Mortgage loans 0 (61,263,000)
Other investments (63,742,000) (117,622,000)
Equity method investments (1,000,000) 0
Short-term investments (2,320,000) (13,931,000)
Proceeds from the sale of:    
Fixed maturities 2,429,084,000 2,473,167,000
Equity securities 70,575,000 85,254,000
Other investments 131,777,000 47,562,000
Short-term investments 7,087,000 16,331,000
Proceeds from redemption of fixed maturities 521,716,000 246,147,000
Proceeds from redemption of short-term investments 111,931,000 2,282,000
Proceeds from the repayment of mortgage loans 10,233,000 0
Purchase of other assets (4,427,000) (44,721,000)
Change in restricted cash and cash equivalents (84,294,000) 11,627,000
Net cash provided by (used in) investing activities 357,543,000 (14,839,000)
Cash flows from financing activities:    
Repurchase of common shares (143,809,000) (136,011,000)
Dividends paid - common shares (38,541,000) (36,636,000)
Dividends paid - preferred shares (14,841,000) (10,003,000)
Repurchase of preferred shares 0 (2,843,000)
Proceeds from issuance of common shares 0 1,783,000
Net cash used in financing activities (197,191,000) (183,710,000)
Effect of exchange rate changes on foreign currency cash and cash equivalents 1,678,000 1,986,000
Increase (decrease) in cash and cash equivalents 125,769,000 (210,813,000)
Cash and cash equivalents - beginning of period 1,039,494,000 988,133,000
Cash and cash equivalents - end of period $ 1,165,263,000 $ 777,320,000