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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (123,167) $ 324,227
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Net investment gains (45,777) (48,522)
Net realized and unrealized (gains) losses on other investments 14,574 (49,271)
Amortization of fixed maturities 24,398 13,616
Interest in (income) loss of equity method investments 13,579 (5,645)
Amortization of value of business acquired 4,111 24,666
Other amortization and depreciation 46,734 56,964
Share-based compensation expense, net of cash payments 17,650 21,160
Changes in:    
Accrued interest receivable 7,792 (1,291)
Reinsurance recoverable balances on unpaid and paid losses (506,705) (165,247)
Deferred acquisition costs (29,126) (20,249)
Prepaid reinsurance premiums (177,624) (228,973)
Reserve for losses and loss expenses 910,106 216,086
Unearned premiums 448,035 517,798
Insurance and reinsurance balances, net (166,708) (377,826)
Other items (89,093) (35,978)
Net cash provided by operating activities 348,779 241,515
Purchases of:    
Fixed maturities (8,543,641) (7,705,671)
Equity securities (40,027) (45,086)
Mortgage loans (115,290) (129,711)
Other investments (93,044) (166,728)
Short-term investments (206,400) (126,960)
Proceeds from the sale of:    
Fixed maturities 7,856,524 6,022,475
Equity securities 95,960 32,682
Other investments 133,536 222,982
Short-term investments 117,097 243,293
Proceeds from redemption of fixed maturities 1,155,648 885,128
Proceeds from redemption of short-term investments 57,948 15,794
Proceeds from the repayment of mortgage loans 4,245 20,759
Purchase of other assets (36,582) (41,800)
Net cash provided by (used in) investing activities 385,974 (772,843)
Cash flows from financing activities:    
Taxes paid on withholding shares (8,685) (9,445)
Dividends paid - common shares (106,595) (103,526)
Repurchase of preferred shares (225,000) 0
Dividends paid - preferred shares (24,269) (31,969)
Net proceeds from issuance of senior notes 0 296,334
Redemption of senior notes (500,000) (250,000)
Net cash used in financing activities (864,549) (98,606)
Effect of exchange rate changes on foreign currency cash, cash equivalents and restricted cash (5,845) 8,465
Decrease in cash, cash equivalents and restricted cash (135,641) (621,469)
Cash, cash equivalents and restricted cash - beginning of period 1,576,457 1,830,020
Cash, cash equivalents and restricted cash - end of period 1,440,816 1,208,551
Supplemental disclosures of cash flow information:    
Income taxes paid (refund) (5,309) 12,149
Interest paid $ 47,108 $ 37,875