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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 177,846 $ 239,197
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized investment losses 45,500 53,662
Net realized and unrealized gains (losses) on other investments 14,406 (45,037)
Amortization of fixed maturities 35,186 54,356
Other amortization and depreciation 11,255 10,265
Share-based compensation expense, net of cash payments 16,617 14,463
Changes in:    
Accrued interest receivable 2,262 5,071
Reinsurance recoverable balances (103,215) (140,911)
Deferred acquisition costs (152,777) (128,010)
Prepaid reinsurance premiums (100,699) (34,247)
Reserve for loss and loss expenses 128,661 147,463
Unearned premiums 937,950 589,438
Insurance and reinsurance balances, net (859,502) (561,146)
Other items (90,954) (88,952)
Net cash provided by operating activities 62,536 115,612
Cash flows from investing activities:    
Fixed maturities (4,687,409) (5,454,612)
Equity securities (215,324) (96,170)
Mortgage loans (120,923) (79,606)
Other investments (173,127) (54,482)
Equity method investments (103,548) 0
Short-term investments (27,800) (30,745)
Proceeds from the sale of:    
Fixed maturities 4,559,910 4,660,534
Equity securities 210,810 2,115
Other investments 110,077 211,883
Short-term investments 18,291 100,461
Proceeds from redemption of fixed maturities 558,715 782,367
Proceeds from redemption of short-term investments 2,539 6,987
Purchase of other assets (13,313) (12,093)
Change in restricted cash and cash equivalents (13,909) 25,552
Net cash provided by investing activities 104,989 62,191
Cash flows from financing activities:    
Repurchase of common shares (263,050) (25,951)
Dividends paid - common shares (69,347) (59,170)
Dividends paid - preferred shares (19,971) (20,044)
Proceeds from issuance of common shares 8 3,175
Repurchase of preferred shares (2,843) 0
Net cash used in financing activities (355,203) (101,990)
Effect of exchange rate changes on foreign currency cash and cash equivalents (7,510) (8,248)
Increase (decrease) in cash and cash equivalents (195,188) 67,565
Cash and cash equivalents - beginning of period 988,133 921,830
Cash and cash equivalents - end of period 792,945 $ 989,395
Consideration transferred reinsurance 170,000  
Payments for reinsurance $ 92,000