XML 18 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 348,900 $ 210,318
Adjustments to reconcile net income to net cash provided by operating activities:    
Decrease (increase) in premiums receivable (163,108) (56,826)
Decrease (increase) in funds held by reinsureds, net 9,837 95,416
Decrease (increase) in reinsurance receivables 34,556 236
Decrease (increase) in income taxes 91,754 55,905
Decrease (increase) in prepaid reinsurance premiums (11,677) (32,194)
Increase (decrease) in reserve for losses and loss adjustment expenses 58,073 (121,415)
Increase (decrease) in future policy benefit reserve 103 (1,907)
Increase (decrease) in unearned premiums 135,157 85,598
Increase (decrease) in other net payable to reinsurers 63,326 24,410
Increase (decrease) in losses in course of payment (66,714) 45,919
Change in equity adjustments in limited partnerships (8,079) (24,596)
Distribution of limited partnership income 14,799 15,524
Change in other assets and liabilities, net 30,152 (142,935)
Non-cash compensation expense 9,056 8,336
Amortization of bond premium (accrual of bond discount) 5,899 8,950
Net realized capital (gains) losses (92,232) 24,901
Net cash provided by (used in) operating activities 459,802 195,640
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from fixed maturities matured/called - available for sale, at market value 460,537 512,384
Proceeds from fixed maturities sold - available for sale, at market value 1,798,226 364,288
Proceeds from equity securities sold, at fair value 69,500 199,875
Distributions from other invested assets 54,692 1,061,894
Cost of fixed maturities acquired - available for sale, at market value (2,249,663) (1,150,718)
Cost of fixed maturities acquired - available for sale, at fair value   (1,836)
Cost of equity securities acquired, at fair value (146,435) (310,426)
Cost of other invested assets acquired (115,028) (947,290)
Net change in short-term investments (354,388) 169,705
Net change in unsettled securities transactions 49,809 46,708
Net cash provided by (used in) investing activities (432,750) (55,416)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Common shares issued during the period for share-based compensation, net of expense (8,288) (9,383)
Purchase of treasury shares (16,153)  
Dividends paid to shareholders (57,137) (53,240)
Cost of shares withheld on settlements of share-based compensation awards (11,443) (14,245)
Net cash provided by (used in) financing activities (93,021) (76,868)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (6,152) 2,163
Net increase (decrease) in cash (72,121) 65,519
Cash, beginning of period 656,095 635,067
Cash, end of period 583,974 700,586
SUPPLEMENTAL CASH FLOW INFORMATION:    
Income taxes paid (recovered) (90,846) (51,253)
Interest paid $ 3,154 $ 2,422