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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income (loss) $ 20,861 $ (36,636)
Less: net loss from discontinued operations 0 2,734
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation, amortization and share-based compensation 1,761 2,062
Net realized (gains) losses on investment (11,038) 11,101
Total other-than-temporary impairment losses 1,506 0
Foreign exchange and other gains (8,181) (4,964)
Changes in assets – (increase) decrease:    
Reinsurance balances receivable, net (15,205) (7,198)
Reinsurance recoverable on unpaid losses 2,256 (36)
Accrued investment income (1,659) 2
Deferred commission and other acquisition expenses 7,438 88,388
Funds withheld receivable 1,261 (53,741)
Other assets (8,464) (3,462)
Changes in liabilities – increase (decrease):    
Reserve for loss and loss adjustment expenses (174,835) (67,641)
Unearned premiums (20,479) (326,214)
Accrued expenses and other liabilities (13,703) 63,880
Net cash used in continuing operations (218,481) (331,725)
Net cash used in discontinued operations 0 (205)
Net cash used in operating activities (218,481) (331,930)
Cash flows from investing activities:    
Purchases of fixed maturities (133,353) (159,790)
Purchases of other investments (2,325) (1,528)
Proceeds from sales of fixed maturities 224,471 84,361
Proceeds from maturities, paydowns and calls of fixed maturities 200,242 206,811
Proceeds from sale and redemption of other investments 92 406
Other, net (597) 2,870
Net cash provided by investing activities for continuing operations 288,530 133,130
Net cash used in investing activities for discontinued operations 0 (3,349)
Net cash provided by investing activities 288,530 129,781
Effect of exchange rate changes on foreign currency cash, restricted cash and equivalents 635 (334)
Net increase (decrease) in cash, restricted cash and cash equivalents 70,684 (202,483)
Cash, restricted cash and cash equivalents, beginning of period 107,278 337,102
Cash, restricted cash and cash equivalents, end of period 177,962 134,619
Less: cash, restricted cash and equivalents of discontinued operations, end of period 0 (2,764)
Cash, restricted cash and cash equivalents of continuing operations, end of period 177,962 131,855
Reconciliation of cash and restricted cash reported within Condensed Consolidated Balance Sheets:    
Cash and cash equivalents, end of period 60,059 89,521
Restricted cash and cash equivalents 117,903 42,334
AmTrust Quota Shares Reinsurance Agreement, Partial Termination Amendment    
Non-cash investing activities    
Investments transferred out 0 280,670
Funds Withheld Arrangement    
Non-cash investing activities    
Investments transferred out $ 0 $ 571,396