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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows provided by (used in) operating activities:    
Net income (loss) $ 125,864 $ 833,080
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Net realized (gains) losses on investments (96,267) (75,519)
Net realized and unrealized (gains) losses on derivative instruments (18,540) (3,660)
Amortization of premiums (discounts) on fixed maturities 118,021 127,524
(Income) loss from investment and operating affiliates (107,659) (172,256)
Loss on sale of life reinsurance subsidiary 666,423 0
Share-based compensation 65,304 45,447
Depreciation 43,511 44,147
Accretion of deposit liabilities 3,136 36,779
Changes in:    
Unpaid losses and loss expenses (128,919) (85,471)
Future policy benefit reserves (172,234) (128,281)
Funds withheld on life retrocession agreements, net 2,968 0
Unearned premiums 524,393 486,249
Premiums receivable (262,435) (341,520)
Unpaid losses and loss expenses recoverable (230,870) 28,566
Ceded unearned premiums (251,985) (183,198)
Reinsurance balances receivable (49,462) (38,612)
Deferred acquisition costs 243,391 (47,859)
Reinsurance balances payable 264,994 338,769
Deferred tax asset - net (42,142) (3,693)
Derivatives (6,262) 14,563
Other assets (44,467) (81,148)
Other liabilities (154,501) 39,645
Other 16,953 19,337
Total adjustments 602,161 19,809
Net cash provided by (used in) operating activities 728,025 852,889
Cash flows provided by (used in) investing activities:    
Proceeds from sale of fixed maturities and short-term investments 4,048,233 3,042,348
Proceeds from redemption of fixed maturities and short-term investments 2,681,001 3,142,738
Proceeds from sale of equity securities 370,189 95,083
Purchases of fixed maturities and short term investments (5,616,992) (6,480,368)
Purchases of equity securities (326,319) (358,484)
Proceeds from sale of affiliates 231,902 194,956
Purchases of affiliates (293,974) (289,716)
Proceeds from sale of life reinsurance subsidiary 570,000 0
Other, net (158,250) 83,575
Net cash provided by (used in) investing activities 1,505,790 (569,868)
Cash flows provided by (used in) financing activities:    
Proceeds from issuance of ordinary shares and exercise of stock options 5,411 9,718
Buybacks of ordinary shares (626,774) (525,520)
Dividends paid on ordinary shares (129,490) (121,131)
Distributions to non-controlling interests (41,463) (42,026)
Contributions from non-controlling interests 24,839 500
Repayment of debt 600,000 0
Deposit liabilities (266,542) (87,788)
Net cash provided by (used in) financing activities (1,634,019) (766,247)
Effects of exchange rate changes on foreign currency cash (46,894) (4,259)
Increase (decrease) in cash and cash equivalents 552,902 (487,485)
Cash and cash equivalents beginning of year 1,800,832 2,618,378
Cash and cash equivalents end of year 2,353,734 2,130,893
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 13,619 0
Net realized and unrealized (gains) losses on derivative instruments $ 218,810 $ 0