XML 30 R7.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Mar. 31, 2019
Sep. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:                    
Net income (loss) $ 104,398 $ 354,551 $ 198,381 $ 215,186 $ 687,419 $ 275,973 $ 791,817 $ 474,354 $ 89,041 $ 482,751
Adjustments to reconcile net income to net cash provided by operating activities:                    
Decrease (increase) in premiums receivable   (168,377)   (61,315) (174,583) (123,622) (219,637) (257,291) (382,987) (350,446)
Decrease (increase) in funds held by reinsureds, net   9,353   94,936 (55,421) (75,887) (17,961) (73,189) (153,627) (33,220)
Decrease (increase) in reinsurance receivables             (42,891) (430,839)    
Decrease (increase) in income taxes   91,856   56,006 180,126 43,116 168,360 57,916 (265,065) (114,077)
Decrease (increase) in prepaid reinsurance premiums             (145,846) (92,174)    
Increase (decrease) in reserve for losses and loss adjustment expenses             553,668 591,385    
Increase (decrease) in future policy benefit reserve             (2,502) (3,143)    
Increase (decrease) in unearned premiums             388,597 364,299    
Increase (decrease) in other net payable to reinsurers             160,306 79,219    
Increase (decrease) in losses in course of payment             (6,438) 98,947    
Change in equity adjustments in limited partnerships             (104,987) (88,377)    
Distribution of limited partnership income             62,359 69,078    
Change in other assets and liabilities, net             (37,449) (251,472)    
Non-cash compensation expense             25,386 25,791    
Amortization of bond premium (accrual of bond discount)             23,642 24,804    
Net realized capital (gains) losses 12,943   (54,804)       (109,561) (45,679)    
Net cash provided by (used in) operating activities             1,486,863 543,629    
CASH FLOWS FROM INVESTING ACTIVITIES:                    
Proceeds from fixed maturities matured/called - available for sale, at market value             1,631,298 1,444,452    
Proceeds from fixed maturities sold - available for sale, at market value             2,589,232 1,756,139    
Proceeds from fixed maturities sold - available for sale, at fair value             2,706 1,751    
Proceeds from equity securities sold, at fair value             185,157 785,819    
Distributions from other invested assets             215,800 3,061,938    
Cost of fixed maturities acquired - available for sale, at market value             (5,039,728) (3,358,333)    
Cost of fixed maturities acquired - available for sale, at fair value             (4,381)    
Cost of equity securities acquired, at fair value             (269,969) (820,924)    
Cost of other invested assets acquired             (299,480) (3,244,817)    
Net change in short-term investments             (213,048) 535    
Net change in unsettled securities transactions             (13,770) 100,647    
Net cash provided by (used in) investing activities             (1,211,802) (277,174)    
CASH FLOWS FROM FINANCING ACTIVITIES:                    
Common shares issued during the period for share-based compensation, net of expense             (7,836) (7,763)    
Purchase of treasury shares             (24,604) (75,304)    
Dividends paid to shareholders             (171,131) (159,343)    
Cost of shares withheld on settlements of share-based compensation awards             (12,473) (15,259)    
Net cash provided by (used in) financing activities             (216,044) (257,669)    
EFFECT OF EXCHANGE RATE CHANGES ON CASH             2,060 (4,092)    
Net increase (decrease) in cash             61,077 4,694    
Cash, beginning of period   $ 656,095   $ 635,067 $ 656,095 $ 635,067 656,095 635,067 635,067  
Cash, end of period $ 717,172   $ 639,761       717,172 639,761 $ 656,095 $ 635,067
SUPPLEMENTAL CASH FLOW INFORMATION:                    
Income taxes paid (recovered)             (80,544) (67,941)    
Interest paid             19,078 17,741    
NON-CASH TRANSACTIONS:                    
Fixed maturities - available for sale, at market value             143,656    
Short-term investments             243,864    
Other invested assets             $ (387,520)