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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash provided by (used in) operating activities    
Net income (loss) $ (38,150) $ 26,360
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 34,086 (51,770)
Loss (income) from investment accounted for under the equity method (870) (267)
Net change in unrealized gains and losses on investments and notes receivable (19,153) (14,362)
Net realized (gains) losses on investments 15,000 14,150
Foreign exchange (gains) losses on investments 232 (160)
Current expected credit losses recognized on notes receivable and reinsurance assets 250 0
Share-based compensation expense 1,391 2,896
Amortization and interest expense, net of change in accruals 702 751
Depreciation expense 21 21
Net change in    
Reinsurance balances receivable (33,932) 26,981
Loss and loss adjustment expenses recoverable 7,535 2,170
Deferred acquisition costs (2,031) (678)
Unearned premiums ceded 901 17,242
Other assets, excluding depreciation (1,121) (561)
Loss and loss adjustment expense reserves 11,182 (3,227)
Unearned premium reserves 24,395 (15,211)
Reinsurance balances payable (42,301) (9,259)
Funds withheld 274 (6,465)
Other liabilities (3,069) 2,709
Net cash provided by (used in) operating activities (44,658) (8,680)
Investing activities    
Proceeds from redemptions from related party investment fund 69,108 107,162
Contributions to related party investment fund (48,094) (11,306)
Purchases of investments (944) (4,702)
Change in due to related party investment fund 0 (9,642)
Notes receivable collected (issued) 741 (1,016)
Non-controlling interest contribution into (withdrawal from) related party joint venture, net 0 (1,278)
Net cash provided by (used in) investing activities 20,811 79,218
Financing activities    
Repurchase of Class A ordinary shares (12,671) 0
Net cash provided by (used in) financing activities (12,671) 0
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (122) 237
Net increase (decrease) in cash, cash equivalents and restricted cash (36,640) 70,775
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) 731,266 774,006
Supplementary information    
Interest paid in cash 4,000 3,933
Income tax paid in cash 0 0
Non-cash transfer of investments (Note 3) 0 36,673
Non-cash addition of right-of-use asset $ 0 $ 323