XML 21 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 16,612 $ 354,551
Adjustments to reconcile net income to net cash provided by operating activities:    
Decrease (increase) in premiums receivable (119,548) (168,377)
Decrease (increase) in funds held by reinsureds, net (28,973) 9,353
Decrease (increase) in reinsurance receivables (130,593) 34,556
Decrease (increase) in income taxes (65,114) 91,856
Decrease (increase) in prepaid reinsurance premiums (10,572) (11,677)
Increase (decrease) in reserve for losses and loss adjustment expenses 406,257 58,073
Increase (decrease) in future policy benefit reserve (915) 103
Increase (decrease) in unearned premiums 158,744 135,157
Increase (decrease) in other net payable to reinsurers 95,555 63,326
Increase (decrease) in losses in course of payment (1,422) (66,714)
Change in equity adjustments in limited partnerships (8,512) (8,079)
Distribution of limited partnership income 11,108 14,799
Change in other assets and liabilities, net (45,259) 30,152
Non-cash compensation expense 9,393 9,056
Amortization of bond premium (accrual of bond discount) 8,640 5,899
Net realized capital (gains) losses 210,588 (92,232)
Net cash provided by (used in) operating activities 505,989 459,802
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from fixed maturities matured/called - available for sale, at market value 656,070 460,537
Proceeds from fixed maturities sold - available for sale, at market value 501,953 1,798,226
Proceeds from equity securities sold, at fair value 112,841 69,500
Distributions from other invested assets 104,085 54,692
Cost of fixed maturities acquired - available for sale, at market value (1,359,281) (2,249,663)
Cost of equity securities acquired, at fair value (76,513) (146,435)
Cost of other invested assets acquired (152,269) (115,028)
Net change in short-term investments (27,882) (354,388)
Net change in unsettled securities transactions (17,185) 49,809
Net cash provided by (used in) investing activities (258,181) (432,750)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Common shares issued during the period for share-based compensation, net of expense (12,573) (8,288)
Purchase of treasury shares (200,020) (16,153)
Dividends paid to shareholders (63,277) (57,137)
Proceeds from revolving credit borrowings 50,000
Cost of debt repurchase (1,198)
Cost of shares withheld on settlements of share-based compensation awards (13,982) (11,443)
Net cash provided by (used in) financing activities (241,050) (93,021)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 2,832 (6,152)
Net increase (decrease) in cash 9,590 (72,121)
Cash, beginning of period 808,036 656,095
Cash, end of period 817,626 583,974
SUPPLEMENTAL CASH FLOW INFORMATION:    
Income taxes paid (recovered) 4,920 (90,846)
Interest paid $ 2,817 $ 3,154