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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FROM OPERATING ACTIVITIES:    
Net income to common stockholders $ 728,060 $ 218,520
Adjustments to reconcile net income to net cash from operating activities:    
Net investment (gains) losses (78,404) 60,311
Depreciation and amortization 101,330 96,195
Noncontrolling interests 8,652 1,975
Investment funds (169,538) (1,260)
Stock incentive plans 36,486 37,842
Change in:    
Arbitrage trading account (224,613) (40,487)
Premiums and fees receivable (365,092) (175,636)
Reinsurance accounts (255,126) (204,396)
Deferred policy acquisition costs (108,131) (43,955)
Income taxes (81,574) (56,955)
Reserves for losses and loss expenses 1,164,594 879,277
Unearned premiums 707,658 407,227
Other 60,092 (41,713)
Net cash from operating activities 1,524,394 1,136,945
CASH (USED IN) FROM INVESTING ACTIVITIES:    
Proceeds from sale of fixed maturity securities 1,631,849 3,525,926
Proceeds from sale of equity securities 100,366 66,850
Distributions from investment funds 124,892 83,935
Proceeds from maturities and prepayments of fixed maturity securities 4,672,562 2,876,642
Purchase of fixed maturity securities (8,442,260) (6,074,429)
Purchase of equity securities (340,424) (77,840)
Real estate sold (purchased) 182,998 (42,405)
Change in loans receivable (27,764) 1,202
Net purchases of property, furniture and equipment (53,558) (31,047)
Change in balances due to security brokers 110,752 36,561
Other 14 65
Net cash (used in) from investing activities (2,040,573) 365,460
CASH FROM FINANCING ACTIVITIES:    
Repayment of senior notes and other debt (503,914) (302,453)
Net proceeds from issuance of debt 1,032,404 747,399
Cash dividends to common stockholders (156,107) (62,822)
Purchase of common treasury shares (122,426) (311,859)
Other, net (27,941) (18,465)
Net cash from financing activities 222,016 51,800
Net impact on cash due to change in foreign exchange rates (9,174) (6,468)
Net change in cash and cash equivalents (303,337) 1,547,737
Cash and cash equivalents at beginning of period 2,372,366 1,023,710
Cash and cash equivalents at end of period $ 2,069,029 $ 2,571,447