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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income/(loss) $ (42.5) $ 81.2
Adjustments to reconcile net income after tax to net cash provided by operating activities:    
Share compensation expense 1.3 3.1
Accretion, amortization and depreciation (5.8) (1.6)
Net realized and unrealized (gain)/loss on investments (5.9) 9.0
Deferred tax benefit (16.3) 0.0
Net changes in assets and liabilities:    
Accrued investment income 9.0 4.4
Premiums and other receivables (601.3) (645.8)
Amounts due from The Fidelis Partnership (17.8) (49.8)
Deferred reinsurance premiums (301.1) (407.8)
Reinsurance balances recoverable on paid losses (13.4) (12.9)
Reinsurance balances recoverable on reserves for losses and loss adjustment expenses (228.3) (36.3)
Deferred policy acquisition costs (215.7) (173.3)
Other assets (4.3) (12.0)
Reserves for losses and loss adjustment expenses (43.8) 111.7
Unearned premiums 724.0 696.7
Reinsurance balances payable 264.8 357.0
Amounts due to The Fidelis Partnership 56.1 1.3
Other liabilities 7.9 39.8
Net cash used in operating activities (433.1) (35.3)
Investing activities    
Purchase of available-for-sale securities (368.8) (428.7)
Proceeds from maturities of available-for-sale securities 171.8 211.2
Proceeds from sales of available-for-sale securities 642.0 201.2
Purchase of fixed assets (0.3) (0.3)
Net cash provided by/(used in) investing activities 444.7 (16.6)
Financing activities    
Dividends on common shares (11.1) (11.8)
Repurchase of common shares (22.1) (5.0)
Net cash used in financing activities (33.2) (16.8)
Effect of exchange rate changes on foreign currency cash 2.7 (3.2)
Net decrease in cash, restricted cash, and cash equivalents (18.9) (71.9)
Cash, restricted cash, and cash equivalents, beginning of period 946.6 964.1
Cash, restricted cash, and cash equivalents, end of period 927.7 892.2
Cash, restricted cash, and cash equivalents comprise the following:    
Cash and cash equivalents 733.4 671.7
Restricted cash and cash equivalents 194.3 220.5
Total cash, cash equivalents and restricted cash $ 927.7 $ 892.2