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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income $ 447,308 $ 107,150 $ 1,068,113
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of net premium on investments 96,402 93,754 107,047
Amortization of intangible assets 25,919 26,593 27,486
Net realized and unrealized investment (gains) losses (26,266) 297,479 (371,796)
Changes in:      
Reinsurance balances, net (95,737) (122,866) (142,268)
Reinsurance recoverable on paid and unpaid losses, net of ceded premiums payable (46,235) 55,172 46,857
Funds held by reinsured companies and funds held–directly managed (59,069) 131,713 188,902
Deferred acquisition costs 2,000 (5,784) (55,786)
Net tax assets and liabilities (135,153) (105,635) (10,951)
Non-life and life and health reserves 214,071 (118,976) (168,490)
Unearned premiums (16,126) (39,630) 110,689
Other net changes in operating assets and liabilities 38,195 (158) 52,796
Net cash provided by operating activities 445,309 318,812 852,599
Cash flows from investing activities      
Redemptions of fixed maturities 595,381 743,743 696,301
Sales and redemptions of short-term investments 148,665 178,166 92,956
Purchases of short-term investments (124,079) (200,533) (106,364)
Other, net (749,194) (151,198) (58,840)
Net cash (used in) provided by investing activities (34,055) 295,274 (250,007)
Cash flows from financing activities      
Dividends paid to common and preferred shareholders (491,473) (190,339) (190,960)
Settlement of share-based awards upon change in control (75,531) 0 0
Repurchase of common shares 0 (71,376) (547,120)
Reissuance of treasury shares, net of taxes 10,965 7,996 16,785
Redemption of preferred shares (149,523) 0 0
Distributions to noncontrolling interests 0 (55,820) (14,265)
Issuance of senior notes 824,002 0 0
Redemption of senior notes (271,961) 0 0
Net cash used in financing activities (153,521) (309,539) (735,560)
Effect of foreign exchange rate changes on cash (61,502) (40,918) (50,049)
Increase (decrease) in cash and cash equivalents 196,231 263,629 (183,017)
Cash and cash equivalents—beginning of year 1,577,097 1,313,468 1,496,485
Cash and cash equivalents—end of year 1,773,328 1,577,097 1,313,468
Supplemental cash flow information:      
Taxes paid 188,650 220,336 284,798
Interest paid 46,417 49,259 49,259
Fixed maturities      
Sales of fixed maturities and sales of equities 12,404,085 7,796,537 8,730,831
Purchases of fixed maturities and purchases of equities (12,704,275) (8,608,288) (9,844,660)
Equities      
Sales of fixed maturities and sales of equities 402,481 1,184,380 691,970
Purchases of fixed maturities and purchases of equities $ (7,119) $ (647,533) $ (452,201)