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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 285,828 $ 176,719
Adjustments to reconcile net income to net cash used in operating activities:    
Net investment (gains) losses (33,996) 54,002
Net realized and unrealized gains on other investments (38,128) (26,876)
Amortization of fixed maturities 8,592 15,642
Interest in income of equity method investments (4,853) (1,891)
Amortization of value of business acquired 20,298 110,517
Other amortization and depreciation 41,444 22,680
Share-based compensation expense, net of cash payments 9,100 11,707
Changes in:    
Accrued interest receivable (2,244) (1,839)
Reinsurance recoverable balances on unpaid and paid losses (146,353) (283,733)
Deferred acquisition costs (91,193) (240,320)
Prepaid reinsurance premiums (279,659) (361,482)
Reserve for losses and loss expenses (21,446) 118,803
Unearned premiums 869,640 991,992
Insurance and reinsurance balances, net (580,450) (654,090)
Other items (53,163) 25,718
Net cash used in operating activities (16,583) (42,451)
Cash flows from investing activities:    
Fixed maturities (5,014,725) (4,910,021)
Equity securities (26,971) (49,498)
Mortgage loans (95,906) (60,195)
Other investments (141,525) (57,477)
Short-term investments (100,936) (239,313)
Proceeds from the sale of:    
Fixed maturities 3,796,747 4,452,631
Equity securities 2,456 219,916
Other investments 163,773 91,946
Short-term investments 205,607 101,510
Proceeds from redemption of fixed maturities 569,922 706,487
Proceeds from redemption of short-term investments 7,571 30,572
Proceeds from the repayment of mortgage loans 486 40,741
Purchase of other assets (32,747) (13,043)
Net cash provided by (used in) investing activities (666,248) 314,256
Cash flows from financing activities:    
Taxes paid on withholding shares (9,414) (8,676)
Dividends paid - common shares (69,948) (68,172)
Dividends paid - preferred shares (21,313) (21,313)
Net proceeds from issuance of senior notes 296,334 0
Redemption of senior notes (250,000) 0
Net cash used in financing activities (54,341) (98,161)
Effect of exchange rate changes on foreign currency cash, cash equivalents, and restricted cash 1,866 (10,737)
Increase (decrease) in cash, cash equivalents, and restricted cash (735,306) 162,907
Cash, cash equivalents, and restricted cash - beginning of period 1,830,020 1,363,786
Cash, cash equivalents, and restricted cash - end of period 1,094,714 1,526,693
Supplemental disclosures of cash flow information:    
Income taxes paid 13,405 7,350
Interest paid $ 31,438 $ 32,550