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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
CASH FROM (USED IN) OPERATING ACTIVITIES:    
Net income to common stockholders $ 135,318 $ 115,590
Adjustments to reconcile net income to net cash from operating activities:    
Net investment gains (47,491) (29,284)
Depreciation and amortization 22,212 22,079
Noncontrolling interests (86) 5
Investment funds (27,624) (15,812)
Stock incentive plans 7,447 6,468
Change in:    
Arbitrage trading account (2,946) (6,532)
Premiums and fees receivable (97,077) (88,106)
Reinsurance accounts (16,857) (142,848)
Deferred policy acquisition costs (11,483) (21,333)
Deferred income taxes (13,600) (9)
Reserves for losses and loss expenses 47,443 143,704
Unearned premiums 115,434 152,731
Other liabilities (36,928) (81,210)
Net cash from (used in) operating activities 73,762 55,443
CASH FROM (USED IN) INVESTING ACTIVITIES:    
Proceeds from sale of fixed matuirty securities 295,134 395,115
Proceeds from sale of equity securities 32,575 63,232
Distributions from (contributions to) investment funds 24,744 (79,410)
Proceeds from maturities and prepayments of fixed maturity securities 408,647 407,780
Purchase of fixed maturity securities (872,588) (835,804)
Purchase of equity securities (68,652) (24,694)
Real estate purchased (5,611) (58,098)
Change in loans receivable (93,934) 4,809
Net additions to real estate, furniture and equipment (15,055) (11,884)
Change in balances due to security brokers 16,146 74,986
Payment for business purchased, net of cash acquired 0 (11,060)
Net cash from (used in) investing activities (278,594) (75,028)
CASH FROM (USED IN) FINANCING ACTIVITIES:    
Net proceeds from issuance of debt 354,315 0
Net proceeds from stock options exercised 3,428 13,217
Repayment of debt (1,684) (3,672)
Cash dividends to common stockholders 0 (9,911)
Purchase of common treasury shares 0 (23,303)
Other, net 10,446 15,703
Net cash from (used in) financing activities 366,505 (7,966)
Net impact on cash due to change in foreign exchange rates 8,992 14,750
Net change in cash and cash equivalents 170,665 (12,801)
Cash and cash equivalents at beginning of year 911,742 642,952
Cash and cash equivalents at end of period $ 1,082,407 $ 630,151