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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FROM OPERATING ACTIVITIES:    
Net income to common stockholders $ 769,960 $ 466,763
Adjustments to reconcile net income to net cash from operating activities:    
Net investment gains (194,710) (58,903)
Depreciation and amortization 37,238 70,597
Noncontrolling interests 2,536 2,631
Investment funds (85,874) (100,246)
Stock incentive plans 24,158 23,122
Change in:    
Arbitrage trading account (27,071) (139,520)
Premiums and fees receivable (284,092) (321,718)
Reinsurance accounts (111,350) (178,442)
Deferred policy acquisition costs (77,561) (72,125)
Income taxes (56,725) (71,205)
Reserves for losses and loss expenses 788,211 705,454
Unearned premiums 409,450 473,395
Other (188,517) (103,994)
Net cash from operating activities 1,005,653 695,809
CASH USED IN INVESTING ACTIVITIES:    
Proceeds from sale of fixed maturity securities 909,295 1,474,054
Proceeds from sale of equity securities 19,842 98,765
(Contributions to) distributions from investment funds (142,801) 88,363
Proceeds from maturities and prepayments of fixed maturity securities 2,655,789 3,156,861
Purchase of fixed maturity securities (4,860,991) (6,266,934)
Purchase of equity securities (271,296) (143,836)
Real estate (purchased) sold (5,974) 202,115
Change in loans receivable 1,200 (28,510)
Net purchases of property, furniture and equipment (22,028) (48,273)
Change in balances due to security brokers 69,801 65,751
Cash received in connection with business disposition 906,789 0
Payment for business purchased net of cash acquired (49,572) 0
Other 37 2
Net cash used in investing activities (789,909) (1,401,642)
CASH (USED IN) FROM FINANCING ACTIVITIES:    
Repayment of senior notes and other debt (426,503) (505,230)
Net proceeds from issuance of debt 192 686,893
Cash dividends to common stockholders (22,983) (21,285)
Purchase of common treasury shares 0 (29,683)
Other, net (1,400) (6,725)
Net cash (used in) from financing activities (450,694) 123,970
Net impact on cash due to change in foreign exchange rates (17,290) (304)
Net change in cash and cash equivalents (252,240) (582,167)
Cash and cash equivalents at beginning of period 1,568,843 2,372,366
Cash and cash equivalents at end of period $ 1,316,603 $ 1,790,199