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Supplemental guarantor information (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidating Balance Sheet |
CONSOLIDATING BALANCE SHEET
As of December 31, 2020
| SiriusPoint |  | TPRUSA |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Total investments in securities | $ | 4,000 |  |  | $ | — |  |  | $ | 1,156,929 |  |  | $ | — |  |  | $ | 1,160,929 |
Cash and cash equivalents | 212 |  |  | 164 |  |  | 525,615 |  |  | — |  |  | 525,991 |
Restricted cash and cash equivalents | — |  |  | — |  |  | 1,187,948 |  |  | — |  |  | 1,187,948 |
Investment in subsidiaries | 1,459,895 |  |  | 297,415 |  |  | 192,148 |  |  | (1,949,458) |  |  | — |
Due from brokers | — |  |  | — |  |  | 94,902 |  |  | — |  |  | 94,902 |
Interest and dividends receivable | — |  |  | — |  |  | 909 |  |  | — |  |  | 909 |
Reinsurance balances receivable, net | — |  |  | — |  |  | 441,935 |  |  | — |  |  | 441,935 |
Deferred acquisition costs, net | — |  |  | — |  |  | 68,550 |  |  | — |  |  | 68,550 |
Unearned premiums ceded | — |  |  | — |  |  | 20,464 |  |  | — |  |  | 20,464 |
Loss and loss adjustment expenses recoverable, net | — |  |  | — |  |  | 14,375 |  |  | — |  |  | 14,375 |
Amounts due from (to) affiliates | 96,607 |  |  | 52 |  |  | (96,659) |  |  | — |  |  | — |
Other assets | 4,933 |  |  | 8,515 |  |  | 5,737 |  |  | — |  |  | 19,185 |
Total assets | $ | 1,565,647 |  |  | $ | 306,146 |  |  | $ | 3,612,853 |  |  | $ | (1,949,458) |  |  | $ | 3,535,188 |
Liabilities |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses | $ | 1,722 |  |  | $ | — |  |  | $ | 12,866 |  |  | $ | — |  |  | $ | 14,588 |
Reinsurance balances payable | — |  |  | — |  |  | 78,115 |  |  | — |  |  | 78,115 |
Deposit liabilities | — |  |  | — |  |  | 152,961 |  |  | — |  |  | 152,961 |
Unearned premium reserves | — |  |  | — |  |  | 284,835 |  |  | — |  |  | 284,835 |
Loss and loss adjustment expense reserves | — |  |  | — |  |  | 1,310,068 |  |  | — |  |  | 1,310,068 |
Securities sold, not yet purchased, at fair value | — |  |  | — |  |  | 11,990 |  |  | — |  |  | 11,990 |
Interest and dividends payable | — |  |  | 3,057 |  |  | 21 |  |  | — |  |  | 3,078 |
Senior notes payable, net of deferred costs | — |  |  | 114,267 |  |  | — |  |  | — |  |  | 114,267 |
Total liabilities | 1,722 |  |  | 117,324 |  |  | 1,850,856 |  |  | — |  |  | 1,969,902 |
Shareholders' equity |  |  |  |  |  |  |  |  |
Common shares | 9,558 |  |  | — |  |  | 1,239 |  |  | (1,239) |  |  | 9,558 |
Additional paid-in capital | 933,903 |  |  | 192,494 |  |  | 1,598,969 |  |  | (1,791,463) |  |  | 933,903 |
Retained earnings (deficit) | 620,464 |  |  | (3,672) |  |  | 160,428 |  |  | (156,756) |  |  | 620,464 |
Shareholders’ equity attributable to SiriusPoint common shareholders | 1,563,925 |  |  | 188,822 |  |  | 1,760,636 |  |  | (1,949,458) |  |  | 1,563,925 |
Noncontrolling interests | — |  |  | — |  |  | 1,361 |  |  | — |  |  | 1,361 |
Total shareholders’ equity | 1,563,925 |  |  | 188,822 |  |  | 1,761,997 |  |  | (1,949,458) |  |  | 1,565,286 |
Total liabilities, noncontrolling interests and shareholders’ equity | $ | 1,565,647 |  |  | $ | 306,146 |  |  | $ | 3,612,853 |  |  | $ | (1,949,458) |  |  | $ | 3,535,188 |
CONSOLIDATING BALANCE SHEET
As of December 31, 2019
| SiriusPoint |  | TPRUSA |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Total investments in securities | $ | 4,000 |  |  | $ | — |  |  | $ | 985,701 |  |  | $ | — |  |  | $ | 989,701 |
Cash and cash equivalents | 10 |  |  | 176 |  |  | 639,229 |  |  | — |  |  | 639,415 |
Restricted cash and cash equivalents | — |  |  | — |  |  | 1,014,543 |  |  | — |  |  | 1,014,543 |
Investment in subsidiaries | 1,419,197 |  |  | 271,624 |  |  | 191,077 |  |  | (1,881,898) |  |  | — |
Interest and dividends receivable | — |  |  | — |  |  | 2,178 |  |  | — |  |  | 2,178 |
Reinsurance balances receivable, net | — |  |  | — |  |  | 478,452 |  |  | — |  |  | 478,452 |
Deferred acquisition costs, net | — |  |  | — |  |  | 92,164 |  |  | — |  |  | 92,164 |
Unearned premiums ceded | — |  |  | — |  |  | 3,123 |  |  | — |  |  | 3,123 |
Loss and loss adjustment expenses recoverable, net | — |  |  | — |  |  | 5,520 |  |  | — |  |  | 5,520 |
Amounts due from (to) affiliates | (5,722) |  |  | (3,898) |  |  | 9,620 |  |  | — |  |  | — |
Other assets | 764 |  |  | 6,784 |  |  | 13,007 |  |  | — |  |  | 20,555 |
Total assets | $ | 1,418,249 |  |  | $ | 274,686 |  |  | $ | 3,434,614 |  |  | $ | (1,881,898) |  |  | $ | 3,245,651 |
Liabilities |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses | $ | 4,175 |  |  | $ | — |  |  | $ | 13,641 |  |  | $ | — |  |  | $ | 17,816 |
Reinsurance balances payable | — |  |  | — |  |  | 76,516 |  |  | — |  |  | 76,516 |
Deposit liabilities | — |  |  | — |  |  | 172,259 |  |  | — |  |  | 172,259 |
Unearned premium reserves | — |  |  | — |  |  | 336,150 |  |  | — |  |  | 336,150 |
Loss and loss adjustment expense reserves | — |  |  | — |  |  | 1,111,692 |  |  | — |  |  | 1,111,692 |
Interest and dividends payable | — |  |  | 3,055 |  |  | — |  |  | — |  |  | 3,055 |
Senior notes payable, net of deferred costs | — |  |  | 114,089 |  |  | — |  |  | — |  |  | 114,089 |
Total liabilities | 4,175 |  |  | 117,144 |  |  | 1,710,258 |  |  | — |  |  | 1,831,577 |
Shareholders’ equity |  |  |  |  |  |  |  |  |
Common shares | 9,423 |  |  | — |  |  | 1,239 |  |  | (1,239) |  |  | 9,423 |
Additional paid-in capital | 927,704 |  |  | 191,361 |  |  | 1,591,796 |  |  | (1,783,157) |  |  | 927,704 |
Retained earnings (deficit) | 476,947 |  |  | (33,819) |  |  | 131,321 |  |  | (97,502) |  |  | 476,947 |
Shareholders’ equity attributable to SiriusPoint common shareholders | 1,414,074 |  |  | 157,542 |  |  | 1,724,356 |  |  | (1,881,898) |  |  | 1,414,074 |
Total liabilities and shareholders’ equity | $ | 1,418,249 |  |  | $ | 274,686 |  |  | $ | 3,434,614 |  |  | $ | (1,881,898) |  |  | $ | 3,245,651 |
Condensed Consolidating Statement of Income |
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 2020
| SiriusPoint |  | TPRUSA |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |  |  |
Gross premiums written | $ | — |  |  | $ | — |  |  | $ | 588,540 |  |  | $ | — |  |  | $ | 588,540 |
Gross premiums ceded | — |  |  | — |  |  | (46,344) |  |  | — |  |  | (46,344) |
Net premiums written | — |  |  | — |  |  | 542,196 |  |  | — |  |  | 542,196 |
Change in net unearned premium reserves | — |  |  | — |  |  | 68,656 |  |  | — |  |  | 68,656 |
Net premiums earned | — |  |  | — |  |  | 610,852 |  |  | — |  |  | 610,852 |
Net investment income | — |  |  | — |  |  | 278,938 |  |  | — |  |  | 278,938 |
Equity in earnings (losses) of subsidiaries | 169,926 |  |  | 36,658 |  |  | (61) |  |  | (206,523) |  |  | — |
Total revenues | 169,926 |  |  | 36,658 |  |  | 889,729 |  |  | (206,523) |  |  | 889,790 |
Expenses |  |  |  |  |  |  |  |  |
Loss and loss adjustment expenses incurred, net | — |  |  | — |  |  | 465,298 |  |  | — |  |  | 465,298 |
Acquisition costs, net | — |  |  | — |  |  | 187,062 |  |  | — |  |  | 187,062 |
Other underwriting expenses | — |  |  | — |  |  | 30,800 |  |  | — |  |  | 30,800 |
Net corporate and other expenses | 26,407 |  |  | 12 |  |  | 14,796 |  |  | — |  |  | 41,215 |
Interest expense | — |  |  | 8,230 |  |  | — |  |  | — |  |  | 8,230 |
Foreign exchange losses | 2 |  |  | — |  |  | 5,217 |  |  | — |  |  | 5,219 |
Total expenses | 26,409 |  |  | 8,242 |  |  | 703,173 |  |  | — |  |  | 737,824 |
Income before income tax (expense) benefit | 143,517 |  |  | 28,416 |  |  | 186,556 |  |  | (206,523) |  |  | 151,966 |
Income tax (expense) benefit | — |  |  | 1,731 |  |  | (9,839) |  |  | — |  |  | (8,108) |
Net income | 143,517 |  |  | 30,147 |  |  | 176,717 |  |  | (206,523) |  |  | 143,858 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (341) |  |  | — |  |  | (341) |
Net income available to SiriusPoint common shareholders | $ | 143,517 |  |  | $ | 30,147 |  |  | $ | 176,376 |  |  | $ | (206,523) |  |  | $ | 143,517 |
CONSOLIDATING STATEMENT OF INCOME
Year Ended December 31, 2019
| SiriusPoint |  | TPRUSA |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |  |  |
Gross premiums written | $ | — |  |  | $ | — |  |  | $ | 668,414 |  |  | $ | — |  |  | $ | 668,414 |
Gross premiums ceded | — |  |  | — |  |  | (11,376) |  |  | — |  |  | (11,376) |
Net premiums written | — |  |  | — |  |  | 657,038 |  |  | — |  |  | 657,038 |
Change in net unearned premium reserves | — |  |  | — |  |  | 43,104 |  |  | — |  |  | 43,104 |
Net premiums earned | — |  |  | — |  |  | 700,142 |  |  | — |  |  | 700,142 |
Net investment income | — |  |  | — |  |  | 282,560 |  |  | — |  |  | 282,560 |
Equity in earnings (losses) of subsidiaries | 216,877 |  |  | 9,017 |  |  | (40) |  |  | (225,854) |  |  | — |
Total revenues | 216,877 |  |  | 9,017 |  |  | 982,662 |  |  | (225,854) |  |  | 982,702 |
Expenses |  |  |  |  |  |  |  |  |
Loss and loss adjustment expenses incurred, net | — |  |  | — |  |  | 403,499 |  |  | — |  |  | 403,499 |
Acquisition costs, net | — |  |  | — |  |  | 295,626 |  |  | — |  |  | 295,626 |
Other underwriting expenses | — |  |  | — |  |  | 34,097 |  |  | — |  |  | 34,097 |
Net corporate and other expenses | 16,258 |  |  | (59) |  |  | 20,086 |  |  | — |  |  | 36,285 |
Interest expense | — |  |  | 8,228 |  |  | — |  |  | — |  |  | 8,228 |
Foreign exchange losses | — |  |  | — |  |  | 3,635 |  |  | — |  |  | 3,635 |
Total expenses | 16,258 |  |  | 8,169 |  |  | 756,943 |  |  | — |  |  | 781,370 |
Income before income tax (expense) benefit | 200,619 |  |  | 848 |  |  | 225,719 |  |  | (225,854) |  |  | 201,332 |
Income tax (expense) benefit | — |  |  | 1,716 |  |  | (2,429) |  |  | — |  |  | (713) |
Net income | 200,619 |  |  | 2,564 |  |  | 223,290 |  |  | (225,854) |  |  | 200,619 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income available to SiriusPoint common shareholders | $ | 200,619 |  |  | $ | 2,564 |  |  | $ | 223,290 |  |  | $ | (225,854) |  |  | $ | 200,619 |
CONSOLIDATING STATEMENT OF LOSS
Year Ended December 31, 2018
| SiriusPoint |  | TPRUSA |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |  |  |
Gross premiums written | $ | — |  |  | $ | — |  |  | $ | 650,187 |  |  | $ | — |  |  | $ | 650,187 |
Gross premiums ceded | — |  |  | — |  |  | (4,169) |  |  | — |  |  | (4,169) |
Net premiums written | — |  |  | — |  |  | 646,018 |  |  | — |  |  | 646,018 |
Change in net unearned premium reserves | — |  |  | — |  |  | (24,576) |  |  | — |  |  | (24,576) |
Net premiums earned | — |  |  | — |  |  | 621,442 |  |  | — |  |  | 621,442 |
Net investment loss | — |  |  | — |  |  | (251,433) |  |  | — |  |  | (251,433) |
Equity in losses of subsidiaries | (310,552) |  |  | (29,492) |  |  | (57) |  |  | 340,101 |  |  | — |
Total revenues | (310,552) |  |  | (29,492) |  |  | 369,952 |  |  | 340,101 |  |  | 370,009 |
Expenses |  |  |  |  |  |  |  |  |
Loss and loss adjustment expenses incurred, net | — |  |  | — |  |  | 438,414 |  |  | — |  |  | 438,414 |
Acquisition costs, net | — |  |  | — |  |  | 206,498 |  |  | — |  |  | 206,498 |
Other underwriting expenses | — |  |  | — |  |  | 29,667 |  |  | — |  |  | 29,667 |
Net corporate and other expenses | 7,140 |  |  | 47 |  |  | 8,997 |  |  | — |  |  | 16,184 |
Interest expense | — |  |  | 8,228 |  |  | — |  |  | — |  |  | 8,228 |
Foreign exchange gains | — |  |  | — |  |  | (7,503) |  |  | — |  |  | (7,503) |
Total expenses | 7,140 |  |  | 8,275 |  |  | 676,073 |  |  | — |  |  | 691,488 |
Loss before income tax (expense) benefit | (317,692) |  |  | (37,767) |  |  | (306,121) |  |  | 340,101 |  |  | (321,479) |
Income tax (expense) benefit | — |  |  | (419) |  |  | 4,429 |  |  | — |  |  | 4,010 |
Net loss | (317,692) |  |  | (38,186) |  |  | (301,692) |  |  | 340,101 |  |  | (317,469) |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (223) |  |  | — |  |  | (223) |
Net loss attributable to SiriusPoint common shareholders | $ | (317,692) |  |  | $ | (38,186) |  |  | $ | (301,915) |  |  | $ | 340,101 |  |  | $ | (317,692) |
Condensed Consolidating Statement of Cash Flows |
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 2020
| SiriusPoint |  | TPRUSA |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Operating activities |  |  |  |  |  |  |  |  |
Net income | $ | 143,517 |  |  | $ | 30,147 |  |  | $ | 176,717 |  |  | $ | (206,523) |  |  | $ | 143,858 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in (earnings) losses of subsidiaries | (169,926) |  |  | (36,658) |  |  | 61 |  |  | 206,523 |  |  | — |
Share compensation expense | 650 |  |  | — |  |  | 5,986 |  |  | — |  |  | 6,636 |
Net interest expense on deposit liabilities | — |  |  | — |  |  | 852 |  |  | — |  |  | 852 |
Net realized and unrealized gain on investments and derivatives | — |  |  | — |  |  | (62,498) |  |  | — |  |  | (62,498) |
Net realized and unrealized gain on investment in related party investment fund | — |  |  | — |  |  | (194,988) |  |  | — |  |  | (194,988) |
Net foreign exchange losses | 2 |  |  | — |  |  | 5,217 |  |  | — |  |  | 5,219 |
Amortization of premium and accretion of discount, net | — |  |  | 178 |  |  | (4,009) |  |  | — |  |  | (3,831) |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |
Reinsurance balances receivable | — |  |  | — |  |  | 38,610 |  |  | — |  |  | 38,610 |
Deferred acquisition costs, net | — |  |  | — |  |  | 23,614 |  |  | — |  |  | 23,614 |
Unearned premiums ceded | — |  |  | — |  |  | (17,341) |  |  | — |  |  | (17,341) |
Loss and loss adjustment expenses recoverable | — |  |  | — |  |  | (8,855) |  |  | — |  |  | (8,855) |
Other assets | (4,169) |  |  | (1,731) |  |  | 9,167 |  |  | — |  |  | 3,267 |
Interest and dividends receivable, net | — |  |  | 2 |  |  | 1,290 |  |  | — |  |  | 1,292 |
Unearned premium reserves | — |  |  | — |  |  | (51,315) |  |  | — |  |  | (51,315) |
Loss and loss adjustment expense reserves | — |  |  | — |  |  | 190,325 |  |  | — |  |  | 190,325 |
Accounts payable and accrued expenses | (2,453) |  |  | — |  |  | (816) |  |  | — |  |  | (3,269) |
Reinsurance balances payable | — |  |  | — |  |  | 1,780 |  |  | — |  |  | 1,780 |
Amounts due from (to) affiliates | (102,329) |  |  | (3,950) |  |  | 106,279 |  |  | — |  |  | — |
Net cash provided by (used in) operating activities | (134,708) |  |  | (12,012) |  |  | 220,076 |  |  | — |  |  | 73,356 |
Investing activities |  |  |  |  |  |  |  |  |
Purchases of investments | — |  |  | — |  |  | (444,111) |  |  | — |  |  | (444,111) |
Proceeds from sales and maturities of investments | — |  |  | — |  |  | 532,247 |  |  | — |  |  | 532,247 |
Purchases of investments to cover short sales | — |  |  | — |  |  | (2,846) |  |  | — |  |  | (2,846) |
Proceeds from short sales of investments | — |  |  | — |  |  | 15,721 |  |  | — |  |  | 15,721 |
Change in due to/from brokers, net | — |  |  | — |  |  | (94,902) |  |  | — |  |  | (94,902) |
Net cash provided by investing activities | — |  |  | — |  |  | 6,109 |  |  | — |  |  | 6,109 |
Financing activities |  |  |  |  |  |  |  |  |
Taxes paid on withholding shares | (302) |  |  | — |  |  | — |  |  | — |  |  | (302) |
Net payments on deposit liability contracts | — |  |  | — |  |  | (20,202) |  |  | — |  |  | (20,202) |
Change in total noncontrolling interests, net | — |  |  | — |  |  | 1,020 |  |  | — |  |  | 1,020 |
Dividend received by (paid to) parent | 135,212 |  |  | 12,000 |  |  | (147,212) |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | 134,910 |  |  | 12,000 |  |  | (166,394) |  |  | — |  |  | (19,484) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 202 |  |  | (12) |  |  | 59,791 |  |  | — |  |  | 59,981 |
Cash, cash equivalents and restricted cash at beginning of year | 10 |  |  | 176 |  |  | 1,653,772 |  |  | — |  |  | 1,653,958 |
Cash, cash equivalents and restricted cash at end of year | $ | 212 |  |  | $ | 164 |  |  | $ | 1,713,563 |  |  | $ | — |  |  | $ | 1,713,939 |
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 2019
| SiriusPoint |  | TPRUSA |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Operating activities |  |  |  |  |  |  |  |  |
Net income | $ | 200,619 |  |  | $ | 2,564 |  |  | $ | 223,290 |  |  | $ | (225,854) |  |  | $ | 200,619 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in (earnings) losses of subsidiaries | (216,877) |  |  | (9,017) |  |  | 40 |  |  | 225,854 |  |  | — |
Share compensation expense | 2,653 |  |  | — |  |  | 4,408 |  |  | — |  |  | 7,061 |
Net interest expense on deposit liabilities | — |  |  | — |  |  | 5,879 |  |  | — |  |  | 5,879 |
Net realized and unrealized gain on investments and derivatives | — |  |  | — |  |  | (2,522) |  |  | — |  |  | (2,522) |
Net realized and unrealized gain on investment in related party investment fund | — |  |  | — |  |  | (249,626) |  |  | — |  |  | (249,626) |
Net foreign exchange losses | — |  |  | — |  |  | 3,635 |  |  | — |  |  | 3,635 |
Amortization of premium and accretion of discount, net | — |  |  | 178 |  |  | (1,560) |  |  | — |  |  | (1,382) |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |
Reinsurance balances receivable | — |  |  | — |  |  | 20,355 |  |  | — |  |  | 20,355 |
Deferred acquisition costs, net | — |  |  | — |  |  | 24,782 |  |  | — |  |  | 24,782 |
Unearned premiums ceded | — |  |  | — |  |  | (1,504) |  |  | — |  |  | (1,504) |
Loss and loss adjustment expenses recoverable | — |  |  | — |  |  | (3,489) |  |  | — |  |  | (3,489) |
Other assets | 909 |  |  | (1,715) |  |  | 634 |  |  | — |  |  | (172) |
Interest and dividends receivable, net | — |  |  | — |  |  | (862) |  |  | — |  |  | (862) |
Unearned premium reserves | — |  |  | — |  |  | (41,600) |  |  | — |  |  | (41,600) |
Loss and loss adjustment expense reserves | — |  |  | — |  |  | 157,849 |  |  | — |  |  | 157,849 |
Accounts payable and accrued expenses | 3,437 |  |  | (71) |  |  | 7,189 |  |  | — |  |  | 10,555 |
Reinsurance balances payable | — |  |  | — |  |  | 11,534 |  |  | — |  |  | 11,534 |
Amounts due from (to) affiliates | 2,200 |  |  | 3,950 |  |  | (6,150) |  |  | — |  |  | — |
Net cash provided by (used in) operating activities | (7,059) |  |  | (4,111) |  |  | 152,282 |  |  | — |  |  | 141,112 |
Investing activities |  |  |  |  |  |  |  |  |
Proceeds from redemptions from related party investment fund | — |  |  | — |  |  | 760,000 |  |  | — |  |  | 760,000 |
Contributions to related party investment fund | — |  |  | — |  |  | (87,000) |  |  | — |  |  | (87,000) |
Change in participation agreement with related party investment fund | — |  |  | — |  |  | (2,297) |  |  | — |  |  | (2,297) |
Purchases of investments | (4,000) |  |  | — |  |  | (327,463) |  |  | — |  |  | (331,463) |
Proceeds from sales and maturities of investments | — |  |  | — |  |  | 446,206 |  |  | — |  |  | 446,206 |
Change in due to/from brokers, net | — |  |  | — |  |  | 1,411 |  |  | — |  |  | 1,411 |
Contributed capital to subsidiaries | (15,000) |  |  | 15,000 |  |  | — |  |  | — |  |  | — |
Contributed capital from parent and/or subsidiaries | — |  |  | (15,000) |  |  | 15,000 |  |  | — |  |  | — |
Net cash provided by (used in) investing activities | (19,000) |  |  | — |  |  | 805,857 |  |  | — |  |  | 786,857 |
Financing activities |  |  |  |  |  |  |  |  |
Proceeds from issuance of SiriusPoint common shares, net of costs | 1,888 |  |  | — |  |  | — |  |  | — |  |  | 1,888 |
Taxes paid on withholding shares | (68) |  |  | — |  |  | — |  |  | — |  |  | (68) |
Net proceeds from deposit liability contracts | — |  |  | — |  |  | 10,832 |  |  | — |  |  | 10,832 |
Dividend received by (paid to) parent | 24,249 |  |  | 4,100 |  |  | (28,349) |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | 26,069 |  |  | 4,100 |  |  | (17,517) |  |  | — |  |  | 12,652 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 10 |  |  | (11) |  |  | 940,622 |  |  | — |  |  | 940,621 |
Cash, cash equivalents and restricted cash at beginning of year | — |  |  | 187 |  |  | 713,150 |  |  | — |  |  | 713,337 |
Cash, cash equivalents and restricted cash at end of year | $ | 10 |  |  | $ | 176 |  |  | $ | 1,653,772 |  |  | $ | — |  |  | $ | 1,653,958 |
CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 2018
| SiriusPoint |  | TPRUSA |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Operating activities |  |  |  |  |  |  |  |  |
Net loss | $ | (317,692) |  |  | $ | (38,186) |  |  | $ | (301,692) |  |  | $ | 340,101 |  |  | $ | (317,469) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in losses of subsidiaries | 310,552 |  |  | 29,492 |  |  | 57 |  |  | (340,101) |  |  | — |
Share compensation expense | 610 |  |  | — |  |  | 4,346 |  |  | — |  |  | 4,956 |
Net interest income on deposit liabilities | — |  |  | — |  |  | (1,273) |  |  | — |  |  | (1,273) |
Net realized and unrealized gain on investments and derivatives | — |  |  | — |  |  | (34,145) |  |  | — |  |  | (34,145) |
Net realized and unrealized loss on investment in related party investment fund | — |  |  | — |  |  | 280,847 |  |  | — |  |  | 280,847 |
Net foreign exchange gains | — |  |  | — |  |  | (7,503) |  |  | — |  |  | (7,503) |
Amortization of premium and accretion of discount, net | — |  |  | 178 |  |  | 3,956 |  |  | — |  |  | 4,134 |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |
Reinsurance balances receivable | — |  |  | — |  |  | (157,214) |  |  | — |  |  | (157,214) |
Deferred acquisition costs, net | — |  |  | — |  |  | 8,746 |  |  | — |  |  | 8,746 |
Unearned premiums ceded | — |  |  | — |  |  | (777) |  |  | — |  |  | (777) |
Loss and loss adjustment expenses recoverable | — |  |  | — |  |  | (918) |  |  | — |  |  | (918) |
Other assets | (1,009) |  |  | (5,069) |  |  | (7,408) |  |  | — |  |  | (13,486) |
Interest and dividends receivable, net | — |  |  | — |  |  | (2,716) |  |  | — |  |  | (2,716) |
Unearned premium reserves | — |  |  | — |  |  | 25,353 |  |  | — |  |  | 25,353 |
Loss and loss adjustment expense reserves | — |  |  | — |  |  | 225,670 |  |  | — |  |  | 225,670 |
Accounts payable and accrued expenses | (25) |  |  | 5,513 |  |  | (30,172) |  |  | — |  |  | (24,684) |
Reinsurance balances payable | — |  |  | — |  |  | 23,866 |  |  | — |  |  | 23,866 |
Amounts due from (to) affiliates | 2,234 |  |  | 360 |  |  | (2,594) |  |  | — |  |  | — |
Net cash provided by (used in) operating activities | (5,330) |  |  | (7,712) |  |  | 26,429 |  |  | — |  |  | 13,387 |
Investing activities |  |  |  |  |  |  |  |  |
Proceeds from redemptions from related party investment fund | — |  |  | — |  |  | 142,968 |  |  | — |  |  | 142,968 |
Contributions to related party investment fund | — |  |  | — |  |  | (136,626) |  |  | — |  |  | (136,626) |
Change in participation agreement with related party investment fund | — |  |  | — |  |  | (20,852) |  |  | — |  |  | (20,852) |
Purchases of investments | — |  |  | — |  |  | (3,483,319) |  |  | — |  |  | (3,483,319) |
Proceeds from sales and maturities of investments | — |  |  | — |  |  | 3,475,515 |  |  | — |  |  | 3,475,515 |
Purchases of investments to cover short sales | — |  |  | — |  |  | (853,798) |  |  | — |  |  | (853,798) |
Proceeds from short sales of investments | — |  |  | — |  |  | 800,508 |  |  | — |  |  | 800,508 |
Change in due to/from brokers, net | — |  |  | — |  |  | 482,778 |  |  | — |  |  | 482,778 |
Decrease in securities sold under an agreement to repurchase | — |  |  | — |  |  | (29,618) |  |  | — |  |  | (29,618) |
Contributed capital to subsidiaries | (10,000) |  |  | 10,000 |  |  | — |  |  | — |  |  | — |
Contributed capital from parent and/or subsidiaries | — |  |  | (10,000) |  |  | 10,000 |  |  | — |  |  | — |
Net cash provided by (used in) investing activities | (10,000) |  |  | — |  |  | 387,556 |  |  | — |  |  | 377,556 |
Financing activities |  |  |  |  |  |  |  |  |
Taxes paid on withholding shares | (74) |  |  | — |  |  | — |  |  | — |  |  | (74) |
Purchases of SiriusPoint common shares under share repurchase program | (138,705) |  |  | — |  |  | — |  |  | — |  |  | (138,705) |
Net proceeds from deposit liability contracts | — |  |  | — |  |  | 9,790 |  |  | — |  |  | 9,790 |
Change in total noncontrolling interests, net | — |  |  | — |  |  | (97,950) |  |  | — |  |  | (97,950) |
Dividend received by (paid to) parent | 154,100 |  |  | 7,700 |  |  | (161,800) |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | 15,321 |  |  | 7,700 |  |  | (249,960) |  |  | — |  |  | (226,939) |
Net increase (decrease) in cash, cash equivalents and restricted cash | (9) |  |  | (12) |  |  | 164,025 |  |  | — |  |  | 164,004 |
Cash, cash equivalents and restricted cash at beginning of year | 9 |  |  | 199 |  |  | 549,125 |  |  | — |  |  | 549,333 |
Cash, cash equivalents and restricted cash at end of year | $ | — |  |  | $ | 187 |  |  | $ | 713,150 |  |  | $ | — |  |  | $ | 713,337 |

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