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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities        
Net income (loss) $ 9,212 $ (15,413) $ 30,073 $ (52,049)
Less: net loss from discontinued operations 0 19,389 0 22,123
Adjustments to reconcile net income (loss) to net cash flows from operating activities:        
Depreciation, amortization and share-based compensation     4,004 4,388
Net realized gains on investment (8,875) (24,086) (19,913) (12,985)
Total other-than-temporary impairment losses 0 0 1,506 0
Foreign exchange and other gains     (5,902) (6,186)
Changes in assets – (increase) decrease:        
Reinsurance balances receivable, net     (10,196) (1,191)
Reinsurance recoverable on unpaid losses     4,294 (242)
Accrued investment income     6,413 5,526
Deferred commission and other acquisition expenses     13,662 136,686
Funds withheld receivable     (13,416) (81,649)
Other assets     (9,316) (7,910)
Changes in liabilities – increase (decrease):        
Reserve for loss and loss adjustment expenses     (361,082) (833)
Unearned premiums     (37,634) (459,179)
Accrued expenses and other liabilities     (21,645) (48,251)
Net cash used in continuing operations     (419,152) (501,752)
Net cash used in discontinued operations     0 (1,905)
Net cash used in operating activities     (419,152) (503,657)
Cash flows from investing activities:        
Purchases of fixed maturities     (245,331) (395,640)
Purchases of other investments     (4,475) (5,290)
Proceeds from sales of fixed maturities 181,030 625,254 405,501 709,615
Proceeds from maturities, paydowns and calls of fixed maturities     292,780 324,480
Proceeds from sale and redemption of other investments     92 580
Other, net     (598) 3,276
Net cash provided by investing activities for continuing operations     447,969 637,021
Net cash used in investing activities for discontinued operations     0 (6,113)
Net cash provided by investing activities     447,969 630,908
Cash flows from financing activities:        
Repurchase of common shares     (1) (13)
Net cash used in financing activities     (1) (13)
Effect of exchange rate changes on foreign currency cash, restricted cash and equivalents     1,359 (177)
Net increase in cash, restricted cash and cash equivalents     30,175 127,061
Cash, restricted cash and cash equivalents, beginning of period     107,278 337,102
Cash, restricted cash and cash equivalents, end of period 137,453 464,163 137,453 464,163
Reconciliation of cash and restricted cash reported within Condensed Consolidated Balance Sheets:        
Cash and cash equivalents, end of period 56,583 82,465 56,583 82,465
Restricted cash and cash equivalents 80,870 381,698 80,870 381,698
Total cash, restricted cash and cash equivalents, end of period $ 137,453 $ 464,163 137,453 464,163
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
Discontinued Operations        
Non-cash investing activities        
Investments transferred out     $ 0 $ 65,400