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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows provided by (used in) operating activities:    
Net income (loss) $ 15,897 $ 662,410
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Net realized (gains) losses on investments (91,926) (77,477)
Net realized and unrealized (gains) losses on derivative instruments (13,409) (2,780)
Amortization of premiums (discounts) on fixed maturities 76,846 84,095
(Income) loss from investment and operating affiliates (68,292) (142,587)
Loss on sale of life reinsurance subsidiary 666,423 0
Share-based compensation 40,563 28,400
Depreciation 29,107 23,693
Accretion of deposit liabilities (7,762) 25,467
Changes in:    
Unpaid losses and loss expenses (264,804) (293,927)
Future policy benefit reserves (93,202) (90,147)
Funds withheld on life retrocession agreements, net (52,104) 0
Unearned premiums 848,937 751,455
Premiums receivable (792,588) (779,737)
Unpaid losses and loss expenses recoverable 136,758 95,046
Ceded unearned premiums (338,855) (222,467)
Reinsurance balances receivable (28,270) (48,420)
Deferred acquisition costs 216,453 (74,886)
Reinsurance balances payable 420,902 478,012
Deferred tax asset - net (51,571) (9,476)
Derivatives (45,306) 68,445
Other assets (15,478) (58,729)
Other liabilities (286,737) (60,531)
Other 34,501 3,794
Total adjustments 337,732 (302,757)
Net cash provided by (used in) operating activities 353,629 359,653
Cash flows provided by (used in) investing activities:    
Proceeds from sale of fixed maturities and short-term investments 3,043,659 2,110,114
Proceeds from redemption of fixed maturities and short-term investments 1,837,319 2,266,692
Proceeds from sale of equity securities 295,448 74,310
Purchases of fixed maturities and short term investments (3,801,109) (4,108,180)
Purchases of equity securities (239,680) (331,865)
Proceeds from sale of affiliates 156,481 95,988
Purchases of affiliates (196,487) (259,630)
Proceeds from sale of life reinsurance subsidiary 570,000 0
Other, net (96,222) 110,133
Net cash provided by (used in) investing activities 1,569,409 (42,438)
Cash flows provided by (used in) financing activities:    
Proceeds from issuance of ordinary shares and exercise of stock options 3,057 8,385
Buybacks of ordinary shares (351,654) (375,423)
Dividends paid on ordinary shares (87,056) (41,975)
Distributions to non-controlling interests (38,502) (39,020)
Contributions from non-controlling interests 21,494 0
Deposit liabilities (213,869) (44,117)
Net cash provided by (used in) financing activities (666,530) (492,150)
Effects of exchange rate changes on foreign currency cash 13,799 (23,361)
Increase (decrease) in cash and cash equivalents 1,270,307 (198,296)
Cash and cash equivalents beginning of year 1,800,832 2,618,378
Cash and cash equivalents end of year 3,071,139 2,420,082
Life Funds Withheld Assets
   
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Net realized (gains) losses on investments 8,147 0
Net realized and unrealized (gains) losses on derivative instruments $ 17,546 $ 0