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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operations:    
Net income (loss) $ 226.4 $ 180.6
Adjustments to reconcile net income to net cash provided from (used for) operations:    
Net realized and unrealized investment (gains) losses (167.3) (166.6)
Change in fair value of Ark’s contingent consideration 38.1 13.3
Deferred income tax expense (benefit) (2.8) (0.4)
Amortization of restricted share awards 8.7 7.5
Amortization (accretion) and depreciation 0.3 (4.8)
Other operating items:    
Net change in reinsurance recoverables (455.1) (421.8)
Net change in insurance premiums, commissions and fees receivable (670.8) (605.8)
Net change in deferred acquisition costs (183.4) (101.6)
Net change in loss and loss adjustment expense reserves 174.1 296.2
Net change in unearned insurance premiums 966.4 816.0
Net change in reinsurance payable 314.3 286.2
Net change in premiums and commissions payable 5.8 29.6
Net change in accrued incentive compensation from Other Operations (39.0) (29.2)
Contributions to Kudu’s Participation Contracts (68.2) (0.2)
Proceeds from Kudu’s Participation Contracts sold 0.0 9.4
Net other operating activities 4.8 (55.0)
Net cash provided from (used for) operations 137.3 253.3
Cash flows from investing activities:    
Net change in short-term investments (235.2) 317.3
Sales of fixed maturity investments 263.5 262.2
Maturities, calls and paydowns of fixed maturity investments 163.7 228.3
Sales of common equity securities and investment in MediaAlpha 251.0 162.4
Distributions and redemptions of other long-term investments 34.7 116.1
Purchases of consolidated subsidiaries, net of cash acquired of $0.8 and $44.9 (70.7) (231.8)
Purchases of fixed maturity investments (509.4) (732.6)
Purchases of common equity securities and investment in MediaAlpha 0.0 (121.1)
Purchases of other long-term investments (54.2) (109.9)
Net other investing activities 0.1 14.9
Net cash provided from (used for) investing activities (156.5) (94.2)
Cash flows from financing activities:    
Draw down of debt and revolving lines of credit 131.5 0.0
Repayment of debt and revolving lines of credit (2.3) (34.1)
Cash dividends paid to common shareholders (2.6) (2.5)
Repurchases and retirements of common shares (9.9) (8.1)
BAM member surplus contributions prior to deconsolidation 0.0 26.0
Contributions from other noncontrolling interests 0.7 1.0
Distributions to other noncontrolling interests (57.9) (11.1)
Net other financing activities 31.1 2.5
Net cash provided from (used for) financing activities 90.6 (26.3)
Net change in cash during the period 71.4 132.8
Cash balance at beginning of period (includes restricted cash balances of $73.6 and $0.7) 266.4 122.4
Cash balance at end of period (includes restricted cash balances of $99.5 and $64.1) 337.8 255.2
Supplemental cash flows information:    
Interest paid (32.4) (31.4)
Net income tax payments (17.6) (14.4)
Investments, Excluding MediaAlpha and Bamboo    
Adjustments to reconcile net income to net cash provided from (used for) operations:    
Net realized and unrealized investment (gains) losses (173.4) (95.2)
MediaAlpha    
Adjustments to reconcile net income to net cash provided from (used for) operations:    
Net realized and unrealized investment (gains) losses 6.1 (71.5)
HG Global | Operating Segments    
Adjustments to reconcile net income to net cash provided from (used for) operations:    
Interest income from BAM Surplus Notes subsequent to deconsolidation $ (15.0) $ 0.0