XML 15 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Statement of Cash Flows [Abstract]      
Net income (loss) $ 143,858,000 $ 200,619,000 $ (317,469,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Share compensation expense 6,636,000 7,061,000 4,956,000
Net interest expense (income) on deposit liabilities 852,000 5,879,000 (1,273,000)
Net realized and unrealized gain on investments and derivatives 62,498,000 2,522,000 34,145,000
Net realized and unrealized (gain) loss on investment in related party investment fund (194,988,000) (249,626,000) 280,847,000
Net foreign exchange (gains) losses 5,219,000 3,635,000 (7,503,000)
Amortization of premium and accretion of discount, net (3,831,000) (1,382,000) 4,134,000
Changes in assets and liabilities:      
Reinsurance balances receivable 38,610,000 20,355,000 (157,214,000)
Deferred acquisition costs, net 23,614,000 24,782,000 8,746,000
Unearned premiums ceded (17,341,000) (1,504,000) (777,000)
Increase (Decrease) in Reinsurance Recoverable (8,855,000) (3,489,000) (918,000)
Other assets 3,267,000 (172,000) (13,486,000)
Interest and dividends receivable, net 1,292,000 (862,000) (2,716,000)
Unearned premium reserves (51,315,000) (41,600,000) 25,353,000
Loss and loss adjustment expense reserves (190,325,000) (157,849,000) (225,670,000)
Accounts payable and accrued expenses (3,269,000) 10,555,000 (24,684,000)
Reinsurance balances payable 1,780,000 11,534,000 23,866,000
Net cash provided by operating activities 73,356,000 141,112,000 13,387,000
Investing activities      
Proceeds from redemptions from related party investment fund 0 760,000,000 142,968,000
Contributions to related party investment fund 0 (87,000,000) (136,626,000)
Change in participation agreement with related party investment fund 0 (2,297,000) (20,852,000)
Purchases of investments (444,111,000) (331,463,000) (3,483,319,000)
Proceeds from sales and maturities of investments 532,247,000 446,206,000 3,475,515,000
Purchases of investments to cover short sales (2,846,000) 0 (853,798,000)
Proceeds from short sales of investments 15,721,000 0 800,508,000
Change in due to/from brokers, net (94,902,000) 1,411,000 482,778,000
Decrease in securities sold under an agreement to repurchase 0 0 (29,618,000)
Net cash provided by investing activities 6,109,000 786,857,000 377,556,000
Financing activities      
Proceeds from issuance of SiriusPoint common shares, net of costs 0 1,888,000 0
Payments Related to Tax Withholding for Share-based Compensation (302,000) (68,000) (74,000)
Purchases of SiriusPoint common shares under share repurchase program 0 0 (138,705,000)
Net proceeds (payments) on deposit liability contracts (20,202,000) 10,832,000 9,790,000
Change in total noncontrolling interests, net 1,020,000 0 (97,950,000)
Net cash provided by (used in) financing activities (19,484,000) 12,652,000 (226,939,000)
Net increase in cash, cash equivalents and restricted cash 59,981,000 940,621,000 164,004,000
Cash, cash equivalents and restricted cash at beginning of year 1,653,958,000 713,337,000 549,333,000
Cash, cash equivalents and restricted cash at end of year 1,713,939,000 1,653,958,000 713,337,000
Supplementary information      
Interest paid in cash 8,340,000 8,051,000 25,578,000
Income taxes paid in cash 53,000 10,000 7,274,000
Non-cash Transfer of Investment Asset to Related Party Investments Fund $ 0 $ 0 $ 1,571,191,000