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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net income (loss) $ 377,715 $ 981,343
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Net realized (gains) losses (194,776) (262,935)
Equity in net income or loss of investment funds accounted for using the equity method and other income or loss 125,384 (45,720)
Amortization of intangible assets 33,120 40,211
Share-based compensation 41,912 41,537
Changes in:    
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable 1,158,446 154,396
Unearned premiums, net of ceded unearned premiums 395,759 137,564
Premiums receivable (463,638) (302,050)
Deferred acquisition costs (92,437) (24,790)
Reinsurance balances payable 132,161 139,415
Other items, net (192,066) (146,447)
Net cash provided by (used for) operating activities 1,321,580 712,524
Investing Activities    
Purchases of fixed maturity investments (25,410,849) (16,332,646)
Purchases of equity securities (1,025,149) (431,939)
Purchases of other investments (501,692) (677,063)
Proceeds from sales of fixed maturity investments 24,833,030 15,632,482
Proceeds from sales of equity securities 580,346 176,701
Proceeds from sales, redemptions and maturities of other investments 472,188 534,698
Proceeds from redemptions and maturities of fixed maturity investments 369,240 244,949
Net settlements of derivative instruments 150,471 87,701
Net (purchases) sales of short-term investments (1,323,363) 201,520
Change in cash collateral related to securities lending 54,596 7,590
Purchases of fixed assets (17,687) (16,359)
Other 8,679 (174,578)
Net cash provided by (used for) investing activities (1,810,190) (746,944)
Financing Activities    
Purchases of common shares under share repurchase program (75,486) (2,871)
Proceeds from common shares issued, net (9,661) (557)
Proceeds from borrowings 1,004,918 62,800
Repayments of borrowings (165,000) (27,538)
Change in cash collateral related to securities lending (54,596) (7,590)
Third party investment in non-redeemable noncontrolling interests (2,867) 0
Dividends paid to redeemable noncontrolling interests (2,540) (8,994)
Other (2,625) (3,529)
Preferred dividends paid (20,806) (20,806)
Net cash provided by (used for) financing activities 671,337 (9,085)
Effects of exchange rate changes on foreign currency cash and restricted cash (21,742) 1,937
Increase (decrease) in cash and restricted cash 160,985 (41,568)
Cash and restricted cash, beginning of year 903,698 724,643
Cash and restricted cash, end of period $ 1,064,683 $ 683,075