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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net cash provided by (used in) operating activities $ 282,148 $ 403,304
Cash flows from investing activities    
Fixed-maturities available for sale 395,976 536,387
Trading securities 8,829 7,952
Equity securities 7,645 29,289
Fixed-maturities available for sale 663,255 917,027
Trading securities 78,462 11,703
Fixed-maturities available for sale (1,238,636) (1,413,445)
Equity securities (23,225) (102,956)
Short-term investments, net 168,933 (17,474)
Other assets and other invested assets, net (534) 6,253
Additions to property and equipment (12,149) (8,720)
Net cash provided by (used in) investing activities 48,556 (33,984)
Cash flows from financing activities    
Dividends and dividend equivalents paid (103,721) (78,165)
Issuance of common stock 1,118 1,225
Repurchases of common stock (387,111) (251,482)
Credit facility commitment fees paid (574) (710)
Change in secured borrowings, net (with terms three months or less) 60,204 38,241
Proceeds from secured borrowings (with terms greater than three months) 26,568 32,000
Repayments of secured borrowings (with terms greater than three months) (24,000) (48,000)
Net cash provided by (used in) financing activities (427,516) (306,891)
Increase (decrease) in cash and restricted cash (96,812) 62,429
Cash and restricted cash, beginning of period 152,620 94,146
Cash and restricted cash, end of period $ 55,808 $ 156,575