v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities        
Net income $ 8,112 $ 9,212 $ 17,398 $ 30,073
Adjustments to reconcile net income to net cash flows from operating activities:        
Depreciation, amortization and share-based compensation     6,840 4,004
Interest in income of equity method investments (2,775) 0 (5,722) 0
Net realized gains on investment (849) (8,875) (8,950) (19,913)
Total other-than-temporary impairment losses 0 0 0 1,506
Foreign exchange and other gains 1,588 2,295 (1,954) (5,902)
Changes in assets – (increase) decrease:        
Reinsurance balances receivable, net     4,395 (10,196)
Reinsurance recoverable on unpaid losses     6,366 4,294
Accrued investment income     3,290 6,413
Deferred commission and other acquisition expenses     9,101 13,662
Funds withheld receivable     8,672 (13,416)
Other assets     (1,133) (9,316)
Changes in liabilities – increase (decrease):        
Reserve for loss and loss adjustment expenses     (207,565) (361,082)
Unearned premiums     (25,340) (37,634)
Accrued expenses and other liabilities     8,818 (21,645)
Net cash used in operating activities     (185,784) (419,152)
Cash flows from investing activities:        
Purchases of fixed maturities      (91,585) (245,331)
Purchases of other investments     (21,852) (4,475)
Purchases of equity method investments     (21,309) 0
Proceeds from sales of fixed maturities  52,538 181,030 206,354 405,501
Proceeds from maturities, paydowns and calls of fixed maturities     175,363 292,780
Proceeds from sale and redemption of other investments     228 92
Proceeds from sale and redemption of equity method investments     3,384 0
Distributions from equity securities     441 0
Others, net     (19) (598)
Net cash provided by investing activities     251,005 447,969
Cash flows from financing activities:        
Repurchase of common shares     (2,359) (1)
Repurchase of preference shares (27,264)   (124,658) 0
Cash settlement of restricted shares granted     (166) 0
Net cash used in financing activities     (127,183) (1)
Effect of exchange rate changes on foreign currency cash, restricted cash and equivalents     (107) 1,359
Net (decrease) increase in cash, restricted cash and cash equivalents     (62,069) 30,175
Cash, restricted cash and cash equivalents, beginning of period     135,826 107,278
Cash, restricted cash and cash equivalents, end of period 73,757 137,453 73,757 137,453
Reconciliation of cash and restricted cash reported within Condensed Consolidated Balance Sheets:        
Cash and cash equivalents, end of period 42,109 56,583 42,109 56,583
Restricted cash and cash equivalents 31,648 80,870 31,648 80,870
Total cash, restricted cash and cash equivalents, end of period $ 73,757 $ 137,453 $ 73,757 $ 137,453