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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FROM OPERATING ACTIVITIES:    
Net income to common stockholders $ 294,126 $ 590,638
Adjustments to reconcile net income to net cash from operating activities:    
Net investment gains (23,010) (366,265)
Depreciation and amortization 9,737 24,631
Noncontrolling interests 1,603 2,392
Investment funds (2,180) (52,012)
Stock incentive plans 11,793 11,438
Change in:    
Arbitrage trading account (14,879) (7,215)
Premiums and fees receivable (33,460) (69,704)
Reinsurance accounts (84,746) (2,643)
Deferred policy acquisition costs (23,727) (39,220)
Income taxes 76,933 123,763
Reserves for losses and loss expenses 424,149 316,065
Unearned premiums 87,991 167,522
Other (279,007) (221,708)
Net cash from operating activities 445,323 477,682
CASH (USED IN) FROM INVESTING ACTIVITIES:    
Proceeds from sale of fixed maturity securities 429,400 408,221
Proceeds from sale of equity securities 9,933 9,227
Distributions from (contributions to) investment funds 7,518 (13,423)
Proceeds from maturities and prepayments of fixed maturity securities 956,308 1,440,457
Purchase of fixed maturity securities (1,686,107) (2,200,214)
Purchase of equity securities (59,529) (100,356)
Real estate sold 7,472 28,141
Change in loans receivable 612 332
Net purchases of property, furniture and equipment (11,532) (9,114)
Change in balances due to security brokers (13,598) 98,058
Cash received in connection with business disposition 0 906,789
Payment for business purchased net of cash acquired 0 (49,572)
Other 93 17
Net cash (used in) from investing activities (359,430) 518,563
CASH USED IN FINANCING ACTIVITIES:    
Repayment of senior notes and other debt 0 (426,503)
Net payments for stock options exercised (806) (327)
Net proceeds from issuance of debt (868)  
Net proceeds from issuance of debt   1,186
Cash dividends to common stockholders (158,592) (22,983)
Purchase of common treasury shares (135,152) 0
Other, net (308) (2,703)
Net cash used in financing activities (295,726) (451,330)
Net impact on cash due to change in foreign exchange rates 2,844 1,083
Net change in cash and cash equivalents (206,989) 545,998
Cash and cash equivalents at beginning of period 1,449,346 1,568,843
Cash and cash equivalents at end of period $ 1,242,357 $ 2,114,841