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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income (loss) $ 197,432 $ 475,708
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Net realized (gains) losses 289,213 (161,007)
Equity in net (income) or loss of investment funds accounted for using the equity method and other income or loss (11,420) (135,939)
Amortization of intangible assets 27,167 14,402
Share-based compensation 45,379 40,812
Changes in:    
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable 275,954 560,153
Unearned premiums, net of ceded unearned premiums 513,507 560,035
Premiums receivable (600,691) (608,250)
Deferred acquisition costs (96,999) (126,701)
Reinsurance balances payable (74,022) 240,206
Other items, net (13,957) (96,574)
Net cash provided by (used for) operating activities 551,563 762,845
Investing Activities    
Purchases of fixed maturity investments (6,727,665) (11,530,968)
Purchases of equity securities (408,615) (309,419)
Purchases of other investments (616,659) (430,961)
Proceeds from sales of fixed maturity investments 6,053,352 10,917,134
Proceeds from sales of equity securities 1,100,256 284,986
Proceeds from sales, redemptions and maturities of other investments 570,341 323,591
Proceeds from redemptions and maturities of fixed maturity investments 240,753 421,042
Net settlements of derivative instruments (2,510) 47,660
Net (purchases) sales of short-term investments (510,752) 589,175
Purchase of operating affiliate 0 (546,349)
Purchases of fixed assets (11,770) (12,490)
Other 550 (246,590)
Net cash provided by (used for) investing activities (312,719) (493,189)
Financing Activities    
Purchases of common shares under share repurchase program (254,988) (179,266)
Proceeds from common shares issued, net (17,260) (10,008)
Third party investment in non-redeemable noncontrolling interests 0 15,971
Dividends paid to redeemable noncontrolling interests 0 (948)
Other 48,859 (1,948)
Preferred dividends paid (10,184) (10,403)
Net cash provided by (used for) financing activities (233,573) (186,602)
Effects of exchange rate changes on foreign currency cash and restricted cash (3,924) (6,084)
Increase (decrease) in cash and restricted cash 1,347 76,970
Cash and restricted cash, beginning of year 1,314,771 1,290,544
Cash and restricted cash, end of period $ 1,316,118 $ 1,367,514