XML 17 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FROM OPERATING ACTIVITIES:    
Net income to common stockholders $ 814,380 $ 650,434
Adjustments to reconcile net income to net cash from operating activities:    
Net investment losses (gains) 32,733 (81,664)
Depreciation and (accretion) amortization (145,062) 6,900
Noncontrolling interests (460) 1,019
Investment funds 3,873 (993)
Stock incentive plans 26,856 25,085
Change in:    
Arbitrage trading account 51,013 (30,331)
Premiums and fees receivable (332,640) (272,849)
Reinsurance accounts 81,755 (242,376)
Deferred policy acquisition costs (77,772) (68,414)
Income taxes 27,699 (5,703)
Reserves for losses and loss expenses 852,523 914,169
Unearned premiums 422,409 398,563
Other (129,742) (139,771)
Net cash from operating activities 1,627,565 1,154,069
CASH USED IN INVESTING ACTIVITIES:    
Proceeds from sale of fixed maturity securities 1,089,183 623,886
Proceeds from sale of equity securities 253,498 97,916
Distributions from investment funds 21,011 12,963
Proceeds from maturities and prepayments of fixed maturity securities 2,133,775 1,824,819
Purchase of fixed maturity securities (4,203,540) (2,833,467)
Purchase of equity securities (180,350) (62,485)
Real estate purchased (44,603) (7,049)
Change in loans receivable (148,241) 13,767
Net purchases of property, furniture and equipment (78,468) (25,720)
Change in balances due to security brokers 165,430 99,976
Cash received in connection with business disposition 0 94,076
Other 0 127
Net cash used in investing activities (992,305) (161,191)
CASH USED IN FINANCING ACTIVITIES:    
Repayment of senior notes and other debt 0 (1,954)
Net proceeds from issuance of debt 420 160
Cash dividends to common stockholders (185,721) (186,921)
Purchase of common treasury shares (223,763) (427,619)
Other, net 943 324
Net cash used in financing activities (408,121) (616,010)
Net impact on cash due to change in foreign exchange rates (10,064) (2,656)
Net change in cash and cash equivalents 217,075 374,212
Cash and cash equivalents at beginning of period 1,363,195 1,449,346
Cash and cash equivalents at end of period $ 1,580,270 $ 1,823,558