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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net earnings $ 149,360 $ 154,653
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 35,663 34,905
Net realized capital (gains) losses (59,651) (35,893)
Other than temporary impairment losses 3,217 20,759
(Increase) decrease in reinsurance recoverables, net of reinsurance payable 34,196 65,627
(Increase) decrease in premium balances receivable (62,971) (3,708)
(Increase) decrease in ceded unearned premiums (17,874) 2
(Increase) decrease in deferred acquisition costs (6,488) (30,197)
(Increase) decrease in funds held under reinsurance agreements (23,885) (170,912)
Increase (decrease) in unearned premiums 39,448 93,998
Increase (decrease) in loss and loss adjustment expenses (97,254) (40,512)
Change in unrealized foreign exchange losses (gains) (19,971) 45,552
Other, net (16,322) (94,694)
Net adjustments (191,892) (115,073)
Net cash provided by (used in) operating activities (42,532) 39,580
Cash flows from investing activities    
Purchases of debt securities (1,811,566) (1,844,101)
Purchases of equity securities (304,343) (551,815)
Sales of debt securities 1,349,608 1,800,873
Maturities and redemptions of debt securities 443,960 237,162
Sales of equity securities 1,363,269 665,994
Net (purchases) sales of short-term investments (949,847) (142,622)
Net (purchases) sales and maturities of commercial mortgage loans (24,803) (101,959)
Purchases of property and equipment (4,480) (2,088)
Purchases of subsidiaries, net of cash acquired   (1,020)
Other, net 29,388 (20,329)
Net cash provided by (used in) investing activities 91,186 40,095
Cash flows from financing activities    
Treasury stock acquisitions   (53,288)
Increase (decrease) in other debt (5,509) 4,508
Other, net (13,057) 1,226
Net cash provided by (used in) financing activities (18,566) (47,554)
Effect of exchange rate changes on cash 266 2,355
Net increase (decrease) in cash 30,354 34,476
Cash at beginning of period 594,091 475,267
Cash at end of period 624,445 509,743
Cash paid during period for:    
Interest paid 16,359 16,115
Income taxes paid (refund received) $ 5,949 $ 11,737