XML 20 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows provided by (used in) operating activities:          
Net income (loss) $ 83,028 $ 73,671 $ 1,313,339 $ 268,838 $ 1,136,647
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:          
Total net realized (gains) losses on investments and net unrealized (gains) losses on investments, Trading - Life Funds Withheld Assets (92,750) (52,891) (202,178) (107,462) (87,777)
Net realized and unrealized (gains) losses on derivative instruments 3,622 (16,521) (53,123) (29,886) (7,798)
Amortization of premiums (discounts) on fixed maturities 47,505 35,998 194,824 153,849 166,621
(Income) loss from investment and operating affiliates 19,797 (45,467) (46,072) (129,915) (229,386)
Share based compensation 20,707 18,295 74,431 81,287 46,489
Depreciation and amortization 22,592 10,907 92,313 56,118 56,229
Accretion of deposit liabilities 12,055 10,044 43,633 11,195 47,256
Changes in:          
Unpaid losses and loss expenses 330,160 77,832 (211,831) (427,528) (88,636)
Future policy benefit reserves (59,858) (49,279) (278,818) (229,204) (164,923)
Funds withheld on life retrocession agreements, net (121,272) (169,569) (210,943) (218,144) 0
Unearned premiums 1,148,149 655,733 (528,214) 253,396 65,279
Premiums receivable (1,322,085) (517,881) 156,168 15,248 (27,334)
Unpaid losses and loss expenses recoverable (82,729) (148,962) (439,548) (44,688) (36,897)
Ceded unearned premiums (436,332) (146,049) 237,017 (191,242) (196,674)
Reinsurance balances receivable (49,781) 10,057 2,319 (17,736) (60,317)
Deferred acquisition costs and value of business acquired (156,373) (72,340) 126,455 303,998 8,532
Reinsurance balances payable 460,982 84,261 229,205 160,916 161,132
Deferred tax asset - net (7,945) 14,119 (47,924) (33,735) (29,230)
Derivatives 17,863 141,754 185,300 42,187 (22,324)
Other assets (47,084) (31,407) 17,054 33,344 (26,945)
Other liabilities (155,826) (94,545) 123,897 (147,744) 60,331
Other (41,618) 17,851 26,968 5,447 9,702
Total adjustments (254,141) (38,693) (697,783) 694,346 (356,670)
Net cash provided by (used in) operating activities (171,113) 34,978 615,556 963,184 779,977
Cash flows provided by (used in) investing activities:          
Proceeds from sale of fixed maturities and short-term investments 3,772,077 1,473,941 16,868,228 4,896,112 4,341,429
Proceeds from redemption of fixed maturities and short-term investments 949,221 1,053,739 3,751,174 3,601,793 4,008,333
Proceeds from sale of equity securities 62,895 189,473 664,735 571,410 245,538
Purchases of fixed maturities and short term investments (4,325,679) (2,835,304) (19,718,064) (7,158,258) (9,143,973)
Purchases of equity securities (55,411) (94,141) (567,334) (445,504) (534,356)
Proceeds from sale of affiliates 41,538 77,916 188,023 240,785 190,954
Purchases of affiliates (247,049) (29,037) (280,856) (371,226) (353,678)
Purchase of Allied International Holdings, Inc., net of cash acquired (69,745) 0 (1,020,015) 0 0
Change in restricted cash (6,027) 0 (154,992) 0 0
Other, net 82,141 (32,141) (155,019) (193,491) 47,891
Net cash provided by (used in) investing activities 203,961 (195,554) 136,432 1,711,621 (1,197,862)
Cash flows provided by (used in) financing activities:          
Proceeds from issuance of ordinary shares and exercise of stock options 491 1,772 9,976 6,367 12,623
Buybacks of ordinary shares (355,901) (1,966) (468,971) (801,953) (675,617)
Dividends paid on ordinary shares (57,861) (40,922) (208,516) (169,620) (160,155)
Distributions to non-controlling interests (27,857) (7,172) (117,683) (78,465) (77,670)
Contributions from non-controlling interest 883 2,569 23,610 48,261 7,747
Proceeds from issuance of debt 0 980,600 980,600 0 592,615
Deposit liabilities (8,546) (38,788) (84,758) (268,298) (94,386)
Net cash provided by (used in) financing activities (448,791) 896,093 46,811 (1,863,708) (394,843)
Effects of exchange rate changes on foreign currency cash (19,396) (47,397) (64,377) (90,115) (4,818)
Increase (decrease) in cash and cash equivalents (435,339) 688,120 734,422 720,982 (817,546)
Cash and cash equivalents – beginning of period 3,256,236 2,521,814 2,521,814 1,800,832 2,618,378
Cash and cash equivalents – end of period 2,820,897 3,209,934 3,256,236 2,521,814 1,800,832
Life Funds Withheld Assets          
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:          
Total net realized (gains) losses on investments and net unrealized (gains) losses on investments, Trading - Life Funds Withheld Assets (101,166) (48,289)      
Net realized and unrealized (gains) losses on derivative instruments $ 236,080 $ 229,367 $ 151,691 $ 488,222 $ 0