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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ 41,762 $ (131,903)
Add: Net loss from discontinued operations 0 22,541
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation, amortization and share-based compensation 8,689 7,820
Interest in income in equity method investments (5,098) 0
Net realized gains on investment (24,473) (27,860)
Total other-than-temporary impairment losses 2,468 165
Foreign exchange and other losses (gains), net 8,526 (2,719)
Changes in assets – (increase) decrease:    
Reinsurance balances receivable, net 23,406 53,440
Reinsurance recoverable on unpaid losses (7,063) (438,489)
Accrued investment income 7,312 9,476
Deferred commission and other acquisition expenses 25,955 172,871
Funds withheld receivable 55,802 (85,062)
Other assets (3,912) (5,181)
Changes in liabilities – increase (decrease):    
Reserve for loss and loss adjustment expenses (581,867) (121,102)
Unearned premiums (77,783) (560,609)
Accrued expenses and other liabilities (15,499) (33,597)
Net cash used in continuing operations (541,775) (1,140,209)
Net cash used in discontinued operations 0 (2,392)
Net cash used in operating activities (541,775) (1,142,601)
Cash flows from investing activities:    
Purchases of fixed maturities (458,892) (2,015,407)
Purchases of other investments (36,821) (8,788)
Purchases of equity method investments (36,358) 0
Proceeds from sales of fixed maturities 505,396 1,032,438
Proceeds from maturities, paydowns and calls of fixed maturities 619,824 1,906,947
Proceeds from sale and redemption of other investments 1,932 858
Proceeds from sale and redemption of equity method investments 1,571 0
Other, net (608) 3,242
Net cash provided by investing activities for continuing operations 596,044 919,290
Net cash used in investing activities for discontinued operations 0 (6,113)
Net cash provided by investing activities 596,044 913,177
Cash flows from financing activities:    
Repurchase of preference shares (30,129) 0
Repurchase of common shares (1) (18)
Net cash used in financing activities (30,130) (18)
Effect of exchange rate changes on foreign currency cash 4,409 (382)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents 28,548 (229,824)
Cash and cash equivalents and restricted cash and cash equivalents, beginning of year 107,278 337,102
Cash and cash equivalents and restricted cash and cash equivalents, end of year 135,826 107,278
Cash and cash equivalents, end of year 74,040 48,197
Restricted cash and cash equivalents, end of year 61,786 59,081
Cash and restricted cash and equivalents of continuing operations, end of year 135,826 107,278
Supplemental information on cash flows    
Interest paid 19,106 32,702
Taxes paid 106 192
AmTrust Quota Shares Reinsurance Agreement, Partial Termination Amendment    
Non-cash investing activities    
Investments transferred out 0 599,613
Funds withheld arrangement    
Non-cash investing activities    
Investments transferred out 0 812,068
Discontinued Operations    
Non-cash investing activities    
Investments transferred out $ 0 $ 68,262