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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FROM OPERATING ACTIVITIES:    
Net (loss) income to common stockholders $ (4,418) $ 180,722
Adjustments to reconcile net income to net cash from (used in) operating activities:    
Net investment losses (gains) 177,174 (68,653)
Depreciation and amortization 25,063 27,424
Noncontrolling interests 892 892
Investment funds (40,576) (11,411)
Stock incentive plans 11,683 14,828
Change in:    
Arbitrage trading account 2,455 (7,753)
Premiums and fees receivable (97,169) (156,450)
Reinsurance accounts (43,104) (20,272)
Deferred policy acquisition costs (26,139) (17,732)
Income taxes (12,500) 36,180
Reserves for losses and loss expenses 200,294 119,780
Unearned premiums 163,793 135,184
Other (204,878) (154,409)
Net cash from operating activities 152,570 78,330
CASH FROM INVESTING ACTIVITIES:    
Proceeds from sale of fixed maturity securities 1,574,232 973,626
Proceeds from sale of equity securities 5,311 37,762
Distributions from (contributions to) investment funds 99,194 (13,874)
Proceeds from maturities and prepayments of fixed maturity securities 1,055,722 686,795
Purchase of fixed maturity securities (2,598,076) (1,528,267)
Purchase of equity securities (35,260) (35,314)
Real estate purchased (24,249) (52,901)
Change in loans receivable 2,877 (726)
Net purchases of property, furniture and equipment (14,637) (3,299)
Change in balances due to security brokers (34,378) (22,011)
Other 86 0
Net cash from investing activities 30,822 41,791
CASH USED IN FINANCING ACTIVITIES:    
Net payments for stock options exercised (3,321) 0
Net proceeds from issuance of debt 4,259 0
Cash dividends to common stockholders (20,069) 0
Purchase of common treasury shares (202,621) 0
Other, net (204) (976)
Net cash used in financing activities (221,956) (976)
Net impact on cash due to change in foreign exchange rates (20,134) 681
Net change in cash and cash equivalents (58,698) 119,826
Cash and cash equivalents at beginning of year 1,023,710 817,602
Cash and cash equivalents at end of period $ 965,012 $ 937,428