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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net earnings $ 308,567 $ 353,875
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 86,493 83,512
Net realized capital (gains) losses (129,311) (138,360)
Other than temporary impairment losses 59,598 6,152
(Increase) decrease in reinsurance recoverables, net of reinsurance payable (28,472) 21,450
(Increase) decrease in premium balances receivable (159,195) (183,310)
(Increase) decrease in ceded unearned premiums (14,702) (42,446)
(Increase) decrease in deferred acquisition costs (32,215) (46,026)
Increase (decrease) in unearned premiums 145,139 234,650
Increase (decrease) in loss and loss adjustment expenses (133,655) (165,208)
Change in unrealized foreign exchange losses (gains) 106,318 (36,915)
Other, net 120,405 (97,143)
Net adjustments 20,403 (363,644)
Net cash provided by (used in) operating activities 328,970 (9,769)
Cash flows from investing activities    
Purchases of debt securities (4,145,599) (3,793,880)
Purchases of equity securities (2,461,698) (1,049,749)
Sales of debt securities 3,100,866 3,210,911
Maturities and redemptions of debt securities 794,611 635,041
Sales of equity securities 2,155,293 512,536
Net (purchase) sale in short-term investments 109,187 686,893
Purchases of property and equipment (13,355) (30,091)
Purchase of subsidiary, net of cash acquired (47,469)  
Other, net 273,495 (93,506)
Net cash (used in) provided by investing activities (234,669) 78,155
Cash flows from financing activities    
Treasury stock acquisitions (40,546) (159,907)
Other, net 259 10,126
Net cash (used in) provided by financing activities (40,287) (149,781)
Effect of exchange rate changes on cash (11,372) 2,535
Net increase (decrease) in cash 42,642 (78,860)
Cash at beginning of period 605,259 498,315
Cash at end of period 647,901 419,455
Cash paid during the period for:    
Interest paid 51,283 51,824
Income taxes paid (refunds received) $ 31,036 $ 155,054