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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income (loss) $ 43,021 $ (368,969) $ 513,368
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Net investment (gains) losses 144,297 (28,226) 60,525
Net realized and unrealized gains on other investments (45,153) (72,763) (38,669)
Amortization of fixed maturities 24,663 43,292 65,921
Interest in income (loss) of equity method investments 495 8,402 2,094
Amortization of value of business acquired 172,332 50,104 0
Other amortization and depreciation 9,795 31,367 24,573
Share-based compensation expense, net of cash payments 34,346 12,667 52,211
Non-cash foreign exchange losses 0 24,149 0
Bargain purchase gain 0 (15,044) 0
Changes in:      
Accrued interest receivable (3,184) (4,353) (885)
Reinsurance recoverable balances on unpaid and paid losses (766,690) (131,160) (176,532)
Deferred acquisition costs (98,329) (35,076) 33,212
Prepaid reinsurance premiums (212,654) (56,377) (158,809)
Reserve for loss and loss expenses 442,839 1,004,578 54,476
Unearned premiums 29,760 (56,603) 198,938
Insurance and reinsurance balances, net 208,783 (81,831) (209,895)
Other items 26,452 (64,928) (13,804)
Net cash provided by operating activities 10,773 259,229 406,724
Purchases of:      
Fixed maturities (8,464,140) (8,714,990) (9,176,728)
Equity securities (73,107) (106,136) (302,554)
Mortgage loans (106,171) (31,077) (148,450)
Other investments (180,126) (153,150) (190,370)
Equity method investments 0 (1,000) (107,913)
Short-term investments (305,670) (41,609) (190,747)
Proceeds from the sale of:      
Fixed maturities 7,586,536 7,004,973 7,905,316
Equity securities 246,196 448,058 305,642
Other investments 361,030 260,943 215,578
Short-term investments 178,983 49,280 54,165
Proceeds from redemption of fixed maturities 1,241,214 2,009,982 1,492,588
Proceeds from redemption of short-term investments 45,831 119,427 36,546
Proceeds from the repayment of mortgage loans 133,081 56,435 5,040
Purchase of other assets (25,103) (42,685) (27,149)
Purchase of subsidiaries, net 0 (466,941) 0
Net cash provided by (used in) investing activities 638,554 391,510 (129,036)
Cash flows from financing activities:      
Net proceeds from issuance of debt 0 346,362 0
Repayment of notes payable 0 (67,242) 0
Net proceeds from issuance of preferred shares 0 0 531,945
Repurchase of common shares - open market 0 (261,180) (495,426)
Taxes paid on withholding shares (10,080) (24,678) (14,329)
Dividends paid - common shares (133,502) (135,032) (132,323)
Repurchase of preferred shares 0 (351,074) (51,769)
Dividends paid - preferred shares (42,625) (52,844) (39,909)
Proceeds from issuance of common shares 0 0 224
Net cash used in financing activities (186,207) (545,688) (201,587)
Effect of exchange rate changes on foreign currency cash, cash equivalents and restricted cash 3,114 17,228 (9,345)
Increase in cash, cash equivalents and restricted cash 466,234 122,279 66,756
Cash, cash equivalents and restricted cash - beginning of year 1,363,786 1,241,507 1,174,751
Cash, cash equivalents and restricted cash - end of year 1,830,020 1,363,786 1,241,507
Supplemental disclosures of cash flow information:      
Income taxes paid 15,698 0 12,041
Interest paid $ 64,822 $ 49,945 $ 48,875