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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows provided by operating activities    
Net income $ 450,032 $ 372,819
Adjustments to reconcile net income to cash provided by operating activities:    
Share compensation expenses 32,465 28,279
Amortization of discount on senior notes 81 81
Loss (income) from investment affiliate 4,249 (5,542)
Net realized gains on investments (6,537) (5,226)
Change in net unrealized gains on investments (84,331) (2,467)
Amortization of intangible assets 4,248 4,248
Loss from operating affiliates 23 2,241
Foreign exchange (gains) losses included in net income (4,585) 16,549
Amortization of premium on fixed maturities 13,381 17,866
Change in:    
Premiums receivable (288,048) (356,734)
Deferred acquisition costs (68,920) (63,960)
Prepaid reinsurance premiums (41,813) (43,331)
Loss reserves recoverable (97,742) (9,111)
Paid losses recoverable (13,165) 16,408
Income taxes recoverable 9,034 (16,088)
Deferred tax asset (4,885) 1,390
Accrued investment income (1,231) 1,059
Other assets (83,068) 41,998
Reserve for losses and loss expenses 66,561 (61,691)
Unearned premiums 393,228 292,090
Reinsurance balances payable 2,726 (38,284)
Deferred tax liability (593) 3,323
Accounts payable and accrued expenses (26,514) (49,057)
Net cash provided by operating activities 254,596 146,860
Cash flows used in investing activities    
Proceeds on sales of fixed maturity investments 2,047,496 2,888,919
Proceeds on maturities of fixed maturity investments 256,082 260,179
Purchases of fixed maturity investments (2,317,674) (3,169,834)
Purchases of short-term investments, net (540,102) (226,316)
Purchases of other investments, net (53,627) (6,065)
Increase in securities lending collateral (5,766) (5,991)
Redemption from operating affiliates 369 0
(Increase) decrease in restricted cash (39,778) 99,001
Net cash used in investing activities (669,307) (179,193)
Cash flows provided by (used in) financing activities    
Net proceeds on issuance of notes payable to AlphaCat investors 296,527 75,607
Net proceeds on issuance of preferred shares 144,852 0
Issuance of common shares, net (7,631) 16,735
Purchases of common shares under share repurchase program (196,015) (203,917)
Dividends paid on preferred shares (2,252) 0
Dividends paid on common shares (87,901) (86,401)
Increase in securities lending payable 5,766 5,991
Third party investment in redeemable noncontrolling interest 381,950 497,700
Third party redemption of redeemable noncontrolling interest (17,284) (86,933)
Third party investment in noncontrolling interest 171,674 9,600
Third party distributions of noncontrolling interest (127,103) (158,175)
Third party subscriptions deployed on AlphaCat Funds and Sidecars (412,736) (161,900)
Net cash provided by (used in) financing activities 149,847 (91,693)
Effect of foreign currency rate changes on cash and cash equivalents (14,253) (13,901)
Net decrease in cash and cash equivalents (279,117) (137,927)
Cash and cash equivalents - beginning of period 723,109 550,401
Cash and cash equivalents - end of period 443,992 412,474
Supplemental disclosure of cash flow information:    
Taxes paid during the period 5,914 14,959
Interest paid during the period 46,072 46,847
Investment affiliate    
Adjustments to reconcile net income to cash provided by operating activities:    
Loss (income) from investment affiliate 4,249 (5,542)
Cash flows used in investing activities    
Investment in investment affiliates, net $ (16,307) $ (19,086)