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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income (loss) $ (88,674) $ 495,498
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Net realized (gains) losses 362,964 (144,091)
Equity in net income or loss of investment funds accounted for using the equity method and other income or loss 29,034 (29,752)
Amortization of intangible assets 16,631 20,417
Share-based compensation 28,549 25,891
Changes in:    
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable 506,057 (6,005)
Unearned premiums, net of ceded unearned premiums 392,802 156,393
Premiums receivable (418,457) (285,137)
Deferred acquisition costs (75,135) (23,168)
Reinsurance balances payable 79,807 62,605
Other items, net (223,124) (37,253)
Net cash provided by (used for) operating activities 610,454 235,398
Investing Activities    
Purchases of fixed maturity investments (11,965,995) (7,444,470)
Purchases of equity securities (760,683) (203,810)
Purchases of other investments (228,471) (324,593)
Proceeds from sales of fixed maturity investments 11,723,123 7,076,590
Proceeds from sales of equity securities 266,301 95,017
Proceeds from sales, redemptions and maturities of other investments 216,131 216,483
Proceeds from redemptions and maturities of fixed maturity investments 198,356 100,424
Net settlements of derivative instruments 195,488 29,737
Net (purchases) sales of short-term investments (11,777) 292,601
Change in cash collateral related to securities lending 55,001 (29,618)
Purchases of fixed assets (8,470) (9,423)
Other 42,500 (93,731)
Net cash provided by (used for) investing activities (278,496) (294,793)
Financing Activities    
Purchases of common shares under share repurchase program (75,486) (2,871)
Proceeds from common shares issued, net (4,527) (1,901)
Proceeds from borrowings 16,300 59,000
Repayments of borrowings 0 (26,038)
Change in cash collateral related to securities lending (55,001) 29,618
Third party investment in non-redeemable noncontrolling interests (2,867) 0
Dividends paid to redeemable noncontrolling interests (1,181) (4,497)
Other (1,331) (1,389)
Preferred dividends paid (10,403) (10,403)
Net cash provided by (used for) financing activities (134,496) 41,519
Effects of exchange rate changes on foreign currency cash and restricted cash (30,723) 3,449
Increase (decrease) in cash and restricted cash 166,739 (14,427)
Cash and restricted cash, beginning of year 903,698 724,643
Cash and restricted cash, end of period $ 1,070,437 $ 710,216