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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FROM OPERATING ACTIVITIES:    
Net income to common stockholders $ 984,020 $ 998,839
Adjustments to reconcile net income to net cash from operating activities:    
Net investment gains (39,239) (127,299)
Depreciation and amortization 3,294 46,037
Noncontrolling interests 863 4,131
Investment funds (5,444) (121,919)
Stock incentive plans 37,796 36,247
Change in:    
Arbitrage trading account (41,399) (39,389)
Premiums and fees receivable (340,056) (247,782)
Reinsurance accounts (194,610) (187,453)
Deferred policy acquisition costs (93,270) (92,724)
Income taxes 49,722 (111,231)
Reserves for losses and loss expenses 1,288,975 1,225,679
Unearned premiums 608,300 551,894
Other (27,790) (161,727)
Net cash from operating activities 2,231,162 1,773,303
CASH USED IN INVESTING ACTIVITIES:    
Proceeds from sale of fixed maturity securities 877,019 1,638,049
Proceeds from sale of equity securities 161,470 20,057
Distributions from (contributions to) investment funds 8,385 (72,925)
Proceeds from maturities and prepayments of fixed maturity securities 2,654,140 3,916,331
Purchase of fixed maturity securities (5,091,866) (7,694,663)
Purchase of equity securities (63,815) (340,158)
Real estate additions (15,158) (18,670)
Change in loans receivable 12,796 2,066
Net purchases of property, furniture and equipment (42,127) (35,270)
Change in balances due to security brokers 8,224 177,457
Cash received in connection with business disposition 94,076 906,789
Payment for business purchased net of cash acquired 0 (49,572)
Other 320 94
Net cash used in investing activities (1,396,536) (1,550,415)
CASH USED IN FINANCING ACTIVITIES:    
Repayment of senior notes and other debt (1,954) (426,503)
Net proceeds from issuance of debt 1,100 2,181
Cash dividends to common stockholders (186,921) (182,147)
Purchase of common treasury shares (430,536) (6,570)
Other, net (20,545) (21,808)
Net cash used in financing activities (638,856) (634,847)
Net impact on cash due to change in foreign exchange rates 959 (26,134)
Net change in cash and cash equivalents 196,728 (438,093)
Cash and cash equivalents at beginning of period 1,449,346 1,568,843
Cash and cash equivalents at end of period $ 1,646,074 $ 1,130,750