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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operations:    
Net income (loss) $ 650.9 $ (361.9)
Adjustments to reconcile net income to net cash provided from (used for) operations:    
Net realized and unrealized investment (gains) losses 141.9 (91.2)
Net realized and unrealized investment (gains) losses from investment in MediaAlpha 113.3 325.5
Deferred income tax expense 22.1 36.7
Amortization of restricted share awards 10.3 11.1
Amortization and depreciation 7.0 13.6
Net (income) loss from discontinued operation, net of tax - NSM Group (16.4) 23.8
Net gain (loss) from sale of discontinued operations, net of tax (886.8) (18.7)
Other operating items:    
Net change in reinsurance recoverables (102.5) (32.3)
Net change in insurance premiums receivable (282.3) (245.7)
Net change in ceded unearned premiums 7.4 78.1
Net change in loss and loss adjustment expense reserves 434.7 194.9
Net change in unearned insurance premiums 305.8 290.0
Net change in deferred acquisition costs (45.0) (60.0)
Net change in reinsurance payable (111.4) (46.8)
Net change in restricted cash 4.4 4.5
Investments in Kudu Participation Contracts (97.9) (141.6)
Net change in other assets and liabilities, net (37.3) 25.7
Net cash provided from (used for) operations - continuing operations 118.2 5.7
Net cash provided from (used for) operations - NSM Group discontinued operations (Note 19) 38.7 40.3
Net cash provided from (used for) operations 156.9 46.0
Cash flows from investing activities:    
Net change in short-term investments (735.4) (83.7)
Sales of fixed maturity investments 212.4 215.9
Maturities, calls and paydowns of fixed maturity investments 107.3 144.6
Sales of common equity securities and investment in MediaAlpha 0.0 176.8
Distributions and redemptions of other long-term investments 55.0 98.2
Release of cash pre-funded/placed in escrow for Ark Transaction 0.0 646.3
Purchases of consolidated subsidiaries, net of cash acquired of $0.3 and $52.2 (67.9) 10.6
Purchases of other long-term investments (136.9) (206.5)
Purchases of common equity securities (88.0) (119.7)
Purchases of fixed maturity investments (474.1) (996.0)
Other investing activities, net 3.7 (1.3)
Net cash provided from (used for) investing activities - continuing operations 260.4 (114.8)
Net cash provided from (used for) investing activities - NSM Group discontinued operations (Note 19) 7.1 (54.6)
Net cash provided from (used for) investing activities 267.5 (169.4)
Cash flows from financing activities:    
Draw down of debt and revolving line of credit 211.8 368.9
Repayment of debt and revolving line of credit (10.5) (94.8)
Cash dividends paid to the Company’s common shareholders (3.0) (3.1)
Common shares repurchased (610.5) (94.6)
Net distributions from non-controlling interest shareholders (9.2) 1.1
Contributions from discontinued operations 11.6 0.0
Capital contributions from BAM members 62.3 44.8
Acquisition of subsidiary shares by non-controlling interest shareholders 74.6 6.1
Fidus Re premium payment (5.6) (6.9)
Other financing activities, net (2.1) (13.0)
Net cash provided from (used for) financing activities - continuing operations (280.6) 208.5
Net cash provided from (used for) financing activities - NSM Group discontinued operations (Note 19) (17.5) 13.8
Net cash provided from (used for) financing activities (298.1) 222.3
Net change in cash during the period 98.0 99.4
Cash balances at beginning of period (includes restricted cash balances of $4.5 and $0.0 and excludes discontinued operations cash balances of $111.6 and $126.6) 147.7 84.6
Cash balances at end of period (includes restricted cash balances of $8.9 and $4.0 and excludes discontinued operations cash balances of $0.0 and 126.7) 245.7 184.0
Supplemental cash flows information:    
Interest paid (10.9) (5.3)
Net income tax payments (3.2) (2.1)
NSM Insurance Group    
Adjustments to reconcile net income to net cash provided from (used for) operations:    
Net gain (loss) from sale of discontinued operations, net of tax (886.8) 0.0
Cash flows from investing activities:    
Proceeds from the sale of consolidated subsidiaries, net of cash sold 1,364.8 0.0
Other Operations    
Cash flows from investing activities:    
Proceeds from the sale of consolidated subsidiaries, net of cash sold 19.5 0.0
Marketing Technology (MediaAlpha)    
Adjustments to reconcile net income to net cash provided from (used for) operations:    
Net realized and unrealized investment (gains) losses from investment in MediaAlpha $ 113.3 $ 325.5