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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities        
Net income (loss) $ 2,162 $ (58,327) $ 32,235 $ (110,376)
Less: net loss from discontinued operations 0 (75) 0 22,048
Adjustments to reconcile net income (loss) to net cash flows from operating activities:        
Depreciation, amortization and share-based compensation     6,318 5,737
Net realized gains on investment (4,133) (12,700) (24,046) (25,685)
Total other-than-temporary impairment losses 962 165 2,468 165
Foreign exchange and other losses (gains) 6,536 (7,827) 634 (14,013)
Changes in assets – (increase) decrease:        
Reinsurance balances receivable, net     22,200 18,517
Reinsurance recoverable on unpaid losses     (7,334) (439,142)
Accrued investment income     5,899 8,542
Deferred commission and other acquisition expenses     21,507 159,524
Funds withheld receivable     53,205 (82,459)
Other assets     (3,589) (5,843)
Changes in liabilities – increase (decrease):        
Reserve for loss and loss adjustment expenses     (476,655) 87,772
Unearned premiums     (59,250) (518,542)
Accrued expenses and other liabilities     (21,256) (53,686)
Net cash used in continuing operations     (447,664) (947,441)
Net cash used in discontinued operations     0 (1,842)
Net cash used in operating activities     (447,664) (949,283)
Cash flows from investing activities:        
Purchases of fixed maturities      (355,966) (1,917,030)
Purchases of other investments     (45,279) (7,450)
Proceeds from sales of fixed maturities  71,857 136,347 477,358 845,962
Proceeds from maturities, paydowns and calls of fixed maturities     451,380 1,766,914
Proceeds from sale and redemption of other investments     1,786 858
Other, net     (602) 3,253
Net cash provided by investing activities for continuing operations     528,677 692,507
Net cash used in investing activities for discontinued operations     0 (6,113)
Net cash provided by investing activities     528,677 686,394
Cash flows from financing activities:        
Repurchase of common shares     (1) (18)
Net cash used in financing activities     (1) (18)
Effect of exchange rate changes on foreign currency cash, restricted cash and equivalents     1,605 (1,269)
Net increase (decrease) in cash, restricted cash and cash equivalents     82,617 (264,176)
Cash, restricted cash and cash equivalents, beginning of period     107,278 337,102
Cash, restricted cash and cash equivalents, end of period 189,895 72,926 189,895 72,926
Reconciliation of cash and restricted cash reported within Condensed Consolidated Balance Sheets:        
Cash and cash equivalents, end of period 91,721 39,755 91,721 39,755
Restricted cash and cash equivalents 98,174 33,171 98,174 33,171
Total cash, restricted cash and cash equivalents, end of period $ 189,895 $ 72,926 189,895 72,926
Investments transferred out related to Partial Termination Amendment and Commutation        
Non-cash investing activities        
Investments transferred out     0 599,613
Investments transferred out for transactions under remaining AmTrust Quota Share business        
Non-cash investing activities        
Investments transferred out     0 812,068
Discontinued Operations        
Non-cash investing activities        
Investments transferred out     $ 0 $ 68,262