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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income $ 235.5 $ 1,904.2
Adjustments to reconcile net income after tax to net cash provided by operating activities:    
Revaluation of The Fidelis Partnership 0.0 (1,707.1)
Share compensation expense 6.8 24.8
Accretion, amortization and depreciation (9.0) 0.1
Net realized and unrealized loss on investments 16.5 3.1
Net changes in assets and liabilities:    
Accrued investment income (0.2) (10.4)
Premiums and other receivables (584.4) (262.7)
Amounts due from The Fidelis Partnership (74.3) (224.8)
Deferred reinsurance premiums (344.1) (330.3)
Reinsurance balances recoverable on paid losses (9.6) (9.4)
Reinsurance balances recoverable on reserves for losses and loss adjustment expenses (54.0) (94.6)
Deferred policy acquisition costs (139.7) (255.9)
Other assets 4.7 (49.5)
Reserves for losses and loss adjustment expenses 347.3 274.7
Unearned premiums 639.8 583.3
Reinsurance balances payable 316.5 132.3
Amounts due to The Fidelis Partnership 75.6 244.3
Other liabilities 64.7 75.7
Net cash provided by operating activities 492.1 297.8
Investing activities    
Purchase of available-for-sale securities (1,544.0) (1,976.1)
Proceeds from maturities of available-for-sale securities 639.2 1,137.0
Proceeds from sales of available-for-sale securities 612.5 0.0
Proceeds from sale of other investments 0.6 75.2
Purchase of fixed assets (3.9) (1.8)
Net cash used in investing activities (295.6) (765.7)
Financing activities    
Dividends on common shares (35.0) 0.0
Repurchase of common shares (105.5) 0.0
Proceeds from issuance of common stock, net of issuance costs 0.0 89.4
Non-controlling interest share transactions 0.0 (6.1)
Net cash used in disposal of subsidiary 0.0 (105.5)
Cumulative dividends on warrants 0.0 (34.1)
Tax paid on withheld shares (2.2) (50.6)
Net cash used in financing activities (142.7) (106.9)
Effect of exchange rate changes on foreign currency cash 1.2 (2.6)
Net increase/(decrease) in cash, restricted cash, and cash equivalents 55.0 (577.4)
Cash, restricted cash, and cash equivalents, beginning of period 964.1 1,407.9
Cash, restricted cash, and cash equivalents, end of period 1,019.1 830.5
Cash, restricted cash, and cash equivalents comprise the following:    
Cash and cash equivalents 806.8 569.0
Restricted cash and cash equivalents 212.3 261.5
Total cash, cash equivalents and restricted cash $ 1,019.1 $ 830.5