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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 330,773 $ 183,982
Adjustments to reconcile net income to net cash provided by operating activities:    
Net investment (gains) losses 44,558 267,771
Net realized and unrealized (gains) losses on other investments 5,236 (39,419)
Amortization of fixed maturities (5,916) 19,883
Interest in income (loss) of equity method investments 105 (12,600)
Other amortization and depreciation 31,182 31,057
Share-based compensation expense, net of cash payments 24,640 21,726
Changes in:    
Accrued interest receivable (6,565) (9,615)
Reinsurance recoverable on unpaid losses and loss expenses (34,416) 4,487
Reinsurance recoverable on paid losses and loss expenses (32,700) 131,422
Deferred acquisition costs (114,124) (113,313)
Prepaid reinsurance premiums (215,019) (278,853)
Reserve for losses and loss expenses 253,575 (244,488)
Unearned premiums 778,063 880,348
Insurance and reinsurance balances, net (381,824) (256,531)
Other items (76,489) (72,091)
Net cash provided by operating activities 601,079 513,766
Purchases of:    
Fixed maturities, available for sale (3,230,430) (3,947,249)
Fixed maturities, held to maturity (25,000) (198,904)
Equity securities (84,272) (49,924)
Mortgage loans (20,686) (101,264)
Other investments (57,124) (103,729)
Short-term investments (76,052) (90,430)
Proceeds from the sale of:    
Fixed maturities, available for sale 2,694,067 3,419,822
Equity securities 14,220 55,287
Other investments 80,227 102,257
Short-term investments 58,875 37,798
Proceeds from redemption of fixed maturities, available for sale 423,836 670,456
Proceeds from redemption of fixed maturities, held to maturity 6,059 3,500
Proceeds from redemption of short-term investments 42,570 18,030
Proceeds from the repayment of mortgage loans 35,412 39,596
Proceeds from the (purchase) sale of other assets, net (7,584) (17,047)
Net cash used in investing activities (145,882) (161,801)
Cash flows from financing activities:    
Repurchase of common shares - open market 0 (34,987)
Taxes paid on withholding shares (17,051) (13,346)
Dividends paid - common shares (78,022) (76,447)
Dividends paid - preferred shares (15,125) (15,125)
Federal Home Loan Bank advances, net 5,250 0
Net cash used in financing activities (104,948) (139,905)
Effect of exchange rate changes on foreign currency cash, cash equivalents and restricted cash (6,632) (31,822)
Increase in cash, cash equivalents and restricted cash 343,617 180,238
Cash, cash equivalents and restricted cash - beginning of period 1,174,653 1,317,690
Cash, cash equivalents and restricted cash - end of period 1,518,270 1,497,928
Supplemental disclosures of cash flow information:    
Income taxes paid 31,547 12,865
Interest paid $ 31,600 $ 29,700