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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income $ 55.8 $ 143.8 $ 200.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Share compensation 11.4 6.6 7.0
Net interest expense on deposit liabilities 3.7 0.9 5.9
Net realized and unrealized (gain) loss on investments and derivatives 3.0 (62.5) (2.5)
Net realized and unrealized gain on investment in related party investment funds (304.0) (195.0) (249.6)
Other revenues (100.1) 0.0 0.0
Gain from sale of consolidated subsidiary (5.8) 0.0 0.0
Amortization of premium and accretion of discount, net 9.5 (3.8) (1.4)
Amortization of intangible assets 5.9 0.0 0.0
Depreciation and other amortization 6.1 0.0 0.0
Other items, net (26.3) 5.2 3.6
Changes in assets and liabilities:      
Insurance and reinsurance balances receivable, net (48.3) 38.6 20.4
Deferred acquisition costs and value of business acquired, net (2.3) 23.6 24.8
Unearned premiums ceded (33.3) (17.3) (1.5)
Loss and loss adjustment expenses recoverable, net (390.2) (8.9) (3.5)
Deferred tax asset/liability (44.8) 7.9 0.7
Other assets 34.8 (4.6) (0.8)
Interest and dividends receivable 0.6 1.3 (0.9)
Loss and loss adjustment expense reserves 614.8 190.3 157.8
Unearned premium reserves 13.6 (51.3) (41.6)
Reinsurance balances payable 223.0 1.8 11.5
Accounts payable, accrued expenses and other liabilities (25.5) (3.3) 10.6
Net cash provided by operating activities 1.6 73.3 141.1
Investing activities      
Proceeds from redemptions from related party investment funds 200.0 0.0 760.0
Contributions to related party investment funds 0.0 0.0 (87.0)
Change in participation agreement with related party investment funds 0.0 0.0 (2.3)
Purchases of investments (3,398.7) (444.1) (331.4)
Proceeds from sales and maturities of investments 2,687.9 532.2 446.2
Purchases of investments to cover short sales (20.6) (2.8) 0.0
Proceeds from short sales of investments 9.7 15.7 0.0
Change in due to/from brokers, net 77.9 (95.0) 1.4
Acquisition of Sirius Group, net (cash and restricted cash acquired of $740.3) 631.9 0.0 0.0
Proceeds from sale of consolidated subsidiary, net of cash sold 20.5 0.0 0.0
Net cash provided by investing activities 208.6 6.0 786.9
Financing activities      
Proceeds from issuance of SiriusPoint common shares, net of costs 50.8 0.0 1.9
Taxes paid on withholding shares (0.5) (0.3) (0.1)
Cash dividends paid to preference shareholders (12.2) 0.0 0.0
Net proceeds (payments) on deposit liability contracts (14.0) (20.2) 10.8
Change in total noncontrolling interests, net 0.2 1.1 0.0
Net cash provided by (used in) financing activities 24.3 (19.4) 12.6
Net increase in cash, cash equivalents and restricted cash 234.5 59.9 940.6
Cash, cash equivalents and restricted cash at beginning of year 1,713.9 1,654.0 713.4
Cash, cash equivalents and restricted cash at end of year 1,948.4 1,713.9 1,654.0
Supplementary information      
Interest paid in cash 39.3 8.3 8.1
Income taxes paid in cash $ 14.7 $ 0.1 $ 0.0