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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FROM OPERATING ACTIVITIES:      
Net income to common stockholders $ 549,094 $ 601,916 $ 503,694
Adjustments to reconcile net income to net cash from operating activities:      
Net investment gains (335,858) (267,005) (92,324)
Depreciation and amortization 112,956 86,051 85,139
Noncontrolling interests 4,243 1,569 413
Investment funds (69,333) (99,301) (62,228)
Stock incentive plans 40,490 37,174 32,123
Change in:      
Arbitrage trading account (4,896) (10,633) (7,173)
Premiums and fees receivable (67,752) (60,403) (60,942)
Reinsurance accounts (66,542) (235,455) (31,930)
Deferred policy acquisition costs 30,343 (25,912) (29,860)
Current income taxes 25,859 42,632 20,428
Deferred income taxes (16,893) 9,012 47,260
Reserves for losses and loss expenses 438,530 572,196 397,685
Unearned premiums 4,160 149,683 142,699
Other 66,482 46,852 (63,680)
Net cash from operating activities 710,883 848,376 881,304
CASH FLOWS USED IN INVESTING ACTIVITIES:      
Proceeds from sale of fixed maturity securities 4,035,162 2,440,310 1,388,680
Proceeds from sale of equity securities 195,270 143,042 15,833
Distributions from investment funds 247,404 142,601 177,424
Proceeds from maturities and prepayments of fixed maturity securities 3,556,744 2,189,365 2,999,339
Purchase of fixed maturity securities (7,940,957) (5,541,202) (4,455,223)
Purchase of equity securities (27,522) (202,736) (29,526)
Real estate purchased (236,039) (299,123) (222,659)
Change in loans receivable 27,135 166,327 48,909
Net additions to property, furniture and equipment (115,719) (50,829) (63,562)
Change in balances due from security brokers (4,372) 20,992 (22,666)
Proceeds from Divestiture of Businesses, Net of Cash Divested 0 250,216 0
Payment for business purchased, net of cash acquired (70,570) (53,451) (7,312)
Net cash used in investing activities (333,464) (794,488) (170,763)
CASH FLOWS USED IN FINANCING ACTIVITIES:      
Net proceeds from issuance of debt 6,983 388,769 9,056
Repayment of senior notes and other debt (20) (75,487) (281,086)
Cash dividends to common stockholders (188,199) (183,999) (58,034)
Purchase of common treasury shares (47,807) (132,392) (223,652)
Other, net (6,043) (3,823) (1,602)
Net cash used in financing activities (235,086) (6,932) (555,318)
Net impact on cash due to change in foreign exchange rates 12,853 (15,302) (66,033)
Net increase in cash and cash equivalents 155,186 31,654 89,190
Cash and cash equivalents at beginning of year 795,285 763,631 674,441
Cash and cash equivalents at end of year $ 950,471 $ 795,285 $ 763,631