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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operations:    
Net income (loss) $ 187.2 $ (8.4)
Adjustments to reconcile net income to net cash provided from (used for) operations:    
Net realized and unrealized investment (gains) losses (112.9) 8.4
Net realized and unrealized investment (gains) losses from investment in MediaAlpha (85.2) (18.8)
Deferred income tax expense (benefit) (3.6) 5.7
Amortization of restricted share awards 3.1 2.9
Amortization (accretion) and depreciation (2.4) 4.3
Net (income) loss from discontinued operation, net of tax - NSM Group 0.0 (3.7)
Other operating items:    
Net change in reinsurance recoverables 24.7 16.0
Net change in insurance premiums receivable (365.3) (343.6)
Net change in deferred acquisition costs (82.2) (71.6)
Net change in loss and loss adjustment expense reserves 49.1 104.9
Net change in unearned insurance premiums 501.8 388.2
Net change in reinsurance payable (58.1) (75.2)
Net change in restricted cash 0.8 0.0
Proceeds from Kudu’s Participation Contracts sold 62.9 0.0
Contributions to Kudu’s Participation Contracts (30.9) 0.0
Net change in other assets and liabilities (3.4) (55.0)
Net cash provided from (used for) operations - continuing operations 85.6 (45.9)
Net cash provided from (used for) operations - NSM Group discontinued operations (Note 19) 0.0 4.4
Net cash provided from (used for) operations 85.6 (41.5)
Cash flows from investing activities:    
Net change in short-term investments 47.6 136.7
Sales of fixed maturity investments 54.6 86.5
Maturities, calls and paydowns of fixed maturity investments 66.8 39.0
Distributions and redemptions of other long-term investments 2.0 39.8
Purchases of fixed maturity investments (127.6) (115.0)
Purchases of common equity securities 0.0 (38.0)
Purchases of other long-term investments (146.1) (21.4)
Net other investing activities (11.2) 4.9
Net cash provided from (used for) investing activities - continuing operations (96.6) 132.5
Net cash provided from (used for) investing activities - NSM Group discontinued operations (Note 19) 0.0 7.3
Net cash provided from (used for) investing activities (96.6) 139.8
Cash flows from financing activities:    
Draw down of debt and revolving line of credit 0.0 2.0
Repayment of debt and revolving line of credit (20.0) (1.3)
Cash dividends paid to common shareholders (2.6) (3.0)
Common shares repurchased (25.3) (39.0)
Net contributions from (distributions to) other noncontrolling interests (1.7) 0.4
Net (contributions to) distributions from discontinued operations 0.0 9.7
BAM member surplus contributions 11.8 12.3
Fidus Re premium payments (3.5) (1.9)
Net cash provided from (used for) financing activities - continuing operations (41.3) (20.8)
Net cash provided from (used for) financing activities - NSM Group discontinued operations (Note 19) 0.0 (10.3)
Net cash provided from (used for) financing activities (41.3) (31.1)
Net change in cash during the period (52.3) 65.8
Cash balances at beginning of period (includes restricted cash balances of $12.2 and $4.5 and excludes discontinued operations cash balances of $0.0 and $111.6) 255.0 147.7
Cash balances at end of period (includes restricted cash balances of $13.0 and $4.5 and excludes discontinued operations cash balances of $0.0 and $113.6) 202.7 213.5
Supplemental cash flows information:    
Interest paid (5.8) (5.5)
Net income tax payments (17.8) (0.3)
Other Operations    
Cash flows from investing activities:    
Proceeds from the sale of Other Businesses, net of cash sold of $0.8 and $0.0 17.3 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 $ (85.2) $ (18.8)