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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 324,227 $ 230,812
Adjustments to reconcile net income to net cash used in operating activities:    
Net investment (gains) losses (48,522) 71,799
Net realized and unrealized gains on other investments (49,271) (41,924)
Amortization of fixed maturities 13,616 20,547
Interest in income of equity method investments (5,645) (3,557)
Amortization of value of business acquired 24,666 149,535
Other amortization and depreciation 56,964 32,934
Share-based compensation expense, net of cash payments 21,160 26,145
Changes in:    
Accrued interest receivable (1,291) 1,085
Reinsurance recoverable balances on unpaid and paid losses (165,247) (419,226)
Deferred acquisition costs (20,249) (214,500)
Prepaid reinsurance premiums (228,973) (311,498)
Reserve for losses and loss expenses 216,086 179,018
Unearned premiums 517,798 632,912
Insurance and reinsurance balances, net (377,826) (290,728)
Other items (35,978) 67,813
Net cash provided by operating activities 241,515 131,167
Cash flows from investing activities:    
Fixed maturities (7,705,671) (6,707,576)
Equity securities (45,086) (59,040)
Mortgage loans (129,711) (78,079)
Other investments (166,728) (79,319)
Short-term investments (126,960) (285,103)
Proceeds from the sale of:    
Fixed maturities 6,022,475 5,956,644
Equity securities 32,682 223,098
Other investments 222,982 211,395
Short-term investments 243,293 153,687
Proceeds from redemption of fixed maturities 885,128 982,010
Proceeds from redemption of short-term investments 15,794 37,831
Proceeds from the repayment of mortgage loans 20,759 70,481
Purchase of other assets (41,800) (16,918)
Net cash provided by (used in) investing activities (772,843) 409,111
Cash flows from financing activities:    
Taxes paid on withholding shares (9,445) (8,699)
Dividends paid - common shares (103,526) (100,770)
Dividends paid - preferred shares (31,969) (31,969)
Net proceeds from issuance of senior notes 296,334 0
Redemption of senior notes (250,000) 0
Net cash used in financing activities (98,606) (141,438)
Effect of exchange rate changes on foreign currency cash, cash equivalents, and restricted cash 8,465 (10,228)
Increase (decrease) in cash, cash equivalents, and restricted cash (621,469) 388,612
Cash, cash equivalents, and restricted cash - beginning of period 1,830,020 1,363,786
Cash, cash equivalents, and restricted cash - end of period 1,208,551 1,752,398
Supplemental disclosures of cash flow information:    
Income taxes paid 12,149 12,108
Interest paid $ 37,875 $ 42,856