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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows From Operating Activities    
Net income $ 285.3 $ 156.0
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized and unrealized investment losses 20.6 29.2
Net amortization and depreciation (2.1) 1.6
Stock-based compensation expense 17.8 14.8
Amortization of defined benefit plan costs 3.3 3.4
Deferred income tax benefit (2.5) (5.2)
Change in deferred acquisition costs (11.7) (13.9)
Change in premiums receivable, net of reinsurance premiums payable (81.7) (113.2)
Change in loss, loss adjustment expense and unearned premium reserves 225.6 220.1
Change in reinsurance recoverable 15.6 18.6
Change in expenses and taxes payable (150.2) (59.9)
Other, net (74.5) (53.3)
Net cash provided by operating activities 245.5 198.2
Cash Flows From Investing Activities    
Proceeds from disposals and maturities of fixed maturities 1,476.4 1,100.2
Proceeds from disposals of equity securities and other investments 57.8 34.5
Purchase of fixed maturities (1,818.9) (1,204.3)
Purchase of equity securities and other investments (46.2) (34.4)
Capital expenditures (3.5) (4.8)
Net cash used in investing activities (334.4) (108.8)
Cash Flows From Financing Activities    
Proceeds from exercise of employee stock options 12.2 6.9
Dividends paid to shareholders (64.7) (61.1)
Repurchases of common stock (38.6) 0.0
Other financing activities (11.7) (9.8)
Net cash used in financing activities (102.8) (64.0)
Net change in cash and cash equivalents (191.7) 25.4
Net change in cash related to discontinued operations 0.3 (3.9)
Cash and cash equivalents, beginning of period 435.5 316.1
Cash and cash equivalents, end of period $ 244.1 $ 337.6