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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash provided by (used in) operating activities    
Net income (loss) $ (40,333) $ 21,220
Adjustments to reconcile net income or loss to net cash provided by (used in) operating activities    
Loss (income) from investments in related party investment fund 40,517 (45,161)
Loss (income) from equity accounted investment (790) (450)
Net change in unrealized gains and losses on investments and notes receivable (19,106) (14,350)
Net realized (gains) losses on investments 15,000 14,150
Foreign exchange (gains) losses on investments 276 60
Current expected credit losses recognized on notes receivable and reinsurance assets 250 0
Share-based compensation expense 1,712 2,231
Amortization and interest expense, net of accruals 1,123 1,172
Depreciation expense 14 14
Net change in    
Reinsurance balances receivable (20,868) 12,512
Loss and loss adjustment expenses recoverable 7,259 2,918
Deferred acquisition costs 438 (6,825)
Unearned premiums ceded 736 (743)
Other assets 629 (77)
Loss and loss adjustment expense reserves (2,933) (12,596)
Unearned premium reserves 5,918 25,310
Reinsurance balances payable (28,448) (2,746)
Funds withheld (314) (3,510)
Other liabilities (3,804) 1,096
Net cash provided by (used in) operating activities (42,724) (5,775)
Investing activities    
Proceeds from redemptions from related party investment fund 58,120 79,422
Contributions to related party investment fund (36,239) (748)
Purchases of investments (919) (4,347)
Change in due to related party investment fund 0 (9,642)
Net change in notes receivable 360 59
Non-controlling interest contribution into (withdrawal from) related party joint venture, net 0 (1,278)
Net cash provided by (used in) investing activities 21,322 63,466
Financing activities    
Repurchase of Class A ordinary shares (7,772) 0
Net cash provided by (used in) financing activities (7,772) 0
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (122) (80)
Net increase (decrease) in cash, cash equivalents and restricted cash (29,296) 57,611
Cash, cash equivalents and restricted cash at beginning of the period (see Note 2) 767,906 703,231
Cash, cash equivalents and restricted cash at end of the period (see Note 2) 738,610 760,842
Supplementary information    
Interest paid in cash 2,000 1,933
Non-cash transfer of investments (Note 3) 0 36,673
Non-cash addition of right-of-use asset $ 0 $ 323