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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash provided by (used in) operating activities    
Net income (loss) $ 9,061 $ 7,127
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 (15,953) (2,018)
Net change in unrealized gains and losses on investments and notes receivable (9,183) (5,224)
Net realized (gains) losses on investments and notes receivable 0 (14,210)
Foreign exchange (gains) losses 5,402 (1)
Share-based compensation expense 2,103 1,590
Amortization and interest expense, net of change in accruals 321 1,106
Depreciation expense 0 16
Net change in    
Reinsurance balances receivable (55,718) (61,922)
Loss and loss adjustment expenses recoverable 1,674 2,519
Deferred acquisition costs (7,317) (9,766)
Unearned premiums ceded (9,252) 0
Other assets, excluding depreciation 778 (861)
Loss and loss adjustment expense reserves 12,361 20,463
Unearned premium reserves 40,670 43,508
Reinsurance balances payable 4,150 (3,434)
Funds withheld 8,730 617
Other liabilities (1,841) 655
Net cash provided by (used in) operating activities (14,014) (19,835)
Investing activities    
Proceeds from redemptions from related party investment fund 60,288 42,221
Contributions to related party investment fund (50,000) (48,604)
Purchases of investments (9,652) (3,320)
Proceeds from sales of investments 0 20,755
Change in notes receivable 0 6,101
Net cash provided by (used in) investing activities 636 17,153
Financing activities    
Repurchase of Class A ordinary shares 0 (6,748)
Net cash provided by (used in) financing activities 0 (6,748)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (120) 0
Net increase (decrease) in cash, cash equivalents and restricted cash (13,498) (9,430)
Cash, cash equivalents and restricted cash at beginning of the period 711,101 754,306
Cash, cash equivalents and restricted cash at end of the period 697,603 744,876
Supplementary information    
Interest paid in cash 2,000 2,000
Income tax paid in cash $ 0 $ 3,700